Sensex strikes fresh all time high:ONGC in demand
The 30-share index made further inroads into the positive terrain in the previous trading hour due to sustained buying interest seen among the participants in index heavyweights. Telecom, cement and pharma stocks led the advances. Auto stocks traded mixed on the bourses.
The BSE Sensex is trading higher by 170.11 points and is ruling at 14,301.45.Out of the total 2,613 shares traded so far, 1,822 advanced, 743 declined and 48 remained unchanged.
Stocks which led the advances were ONGC, that buoyed up 4.24% to rule at Rs 932.50, HDFC, which inched up 2.33% to Rs 1,584, and Bharti Airtel, which gained 2.22% to Rs 681.50. L&T, Reliance and ITC also ruled the gainers` charts.
Losers on the BSE Sensex were Tata Motors, that dropped 0.58%, at Rs 959 and Hindalco, that dipped 0.12% at Rs 168.
NDTV firms up on Q3 success story
New Delhi Television rose 0.86% to Rs 315, on reporting 92% surge in net profit for Q3 December 2006.As many as 23,748 shares were traded in the counter on BSE.The stock witnessed a sharp spurt ahead of the results. From Rs 206.35 on 21 December, it had surged to Rs 320.50 on 15 January, on anticipating a strong set of results from the company.New Delhi Television (NDTV) also struck an all-time high of Rs 326, on 15 January 2007.
NDTV reported 92% surge in net profit for the quarter ended December 2006, to Rs 4.82 crore, compared to a net profit of Rs 2.51 crore for the quarter ended December 2005. Total income increased to Rs 79.38 crore (Rs 68.90 crore).
NDTV plans to pump in FDI worth $130-160 million by listing NDTV Network on the LSE.
In late-October, NDTV board approved a new model to expand beyond news. It will develop a bouquet of channels providing entertainment and lifestyle content, while initiating a major thrust in new media, including the Internet. It will also set up a company called NDTV Ventures to undertake new initiatives that will include a Hindi mass entertainment channel, four metro channels (airing news, entertainment and sports) and regional business channels in partnership with local players.
The company also acquired broadcasting rights for international boxing for 10 years in India. Its entertainment channel will be free to air to start with.
In March, NDTV entered a joint venture with Genpact to offer services like editing and digitisation. A joint statement said that 70% of all media work is now in the digital format, and about 70% of that could be outsourced. The joint venture intends to capitalise this untapped market.
NDTV operates news channels in Hindi and English. It had, through its 100% subsidiary NDTV News, acquired minority stake in Radio Today, which operates FM radio channel `Red FM' in Mumbai, Delhi, and Kolkata.
M&M inches ahead on hike in car prices
Mahindra & Mahindra rose 1.20% to Rs 974.10, after it decided to raise prices of Scorpio and Bolero models to counter higher input costs and inflation.
The price of sport utility vehicle (SUV) Scorpio will increase by Rs 3,000 - Rs 13,000, while that of its utility vehicle (UV) Bolero will rise by Rs 5,600 - Rs 6,500, beginning last week of January. "The price revision has been necessitated due to an increase in the input cost as well as other inflationary strain," Rajesh Jejurikar, executive vice president sales and marketing of Mahindra's automotive sector, said in a statement.
As many as 33,075 shares changed hands in the counter on BSE.
The stock steadily rallied in the past few trading sessions, advancing from Rs 874.30 on 10 January to Rs 985.30 by 16 January 2007, on strong buying. It also surged to a life high of Rs 1002, on the same day. It settled at Rs 962.70 on 17 January, on profit-booking.
Earlier this week, M&M decided to invest Rs 2500 crore in a new plant for its joint venture with Navistar International Corp. The company signed an agreement with the Maharashtra Government. Initially, the plant will have a capacity of 250,000 units. The production at the plant will begin in two years. Mahindra has 51% in a joint venture with truck maker Navistar International to make light, medium and heavy trucks and buses.
Mahindra & Mahindra’s tractor sales rose 21% in December 2006 to 6,759 units.
Recently, M&M entered into a joint venture with French car maker Renault to make 5,00,000 cars a year in India. The plant will be set up under a new joint venture, where both Renault and M&M will have equal equity participation. M&M's another existing 51:49 venture agreement with Renault, over a year old, envisages the manufacture of the Renault Logan, for which an investment of Euros 125 million has been made.
Mahindra & Mahindra is also readying itself to foray into North America, the world's largest market for sports utility vehicles (SUV) and pick-ups with its flagship Scorpio and a pick-up based on the same platform. In September, the company signed a distribution agreement with Global Vehicles of the US for distribution of M&M vehicles and accessories in the world's largest economy. M&M will be the first Indian automaker to enter the highly-competitive American passenger vehicle market.
The company posted 145.84% surge in net profit to Rs 386.47 crore for Q2 ended 30 September 2006, compared to Rs 157.20 crore for Q2 ended 30 September 2005. Total income increased from Rs 1,944.24 crore to Rs 2,563.41 crore. The numbers include exceptional income from Tech Mahindra IPO as also an octroi refund of Rs 40.40 crore.
The BSE Sensex is trading higher by 170.11 points and is ruling at 14,301.45.Out of the total 2,613 shares traded so far, 1,822 advanced, 743 declined and 48 remained unchanged.
Stocks which led the advances were ONGC, that buoyed up 4.24% to rule at Rs 932.50, HDFC, which inched up 2.33% to Rs 1,584, and Bharti Airtel, which gained 2.22% to Rs 681.50. L&T, Reliance and ITC also ruled the gainers` charts.
Losers on the BSE Sensex were Tata Motors, that dropped 0.58%, at Rs 959 and Hindalco, that dipped 0.12% at Rs 168.
NDTV firms up on Q3 success story
New Delhi Television rose 0.86% to Rs 315, on reporting 92% surge in net profit for Q3 December 2006.As many as 23,748 shares were traded in the counter on BSE.The stock witnessed a sharp spurt ahead of the results. From Rs 206.35 on 21 December, it had surged to Rs 320.50 on 15 January, on anticipating a strong set of results from the company.New Delhi Television (NDTV) also struck an all-time high of Rs 326, on 15 January 2007.
NDTV reported 92% surge in net profit for the quarter ended December 2006, to Rs 4.82 crore, compared to a net profit of Rs 2.51 crore for the quarter ended December 2005. Total income increased to Rs 79.38 crore (Rs 68.90 crore).
NDTV plans to pump in FDI worth $130-160 million by listing NDTV Network on the LSE.
In late-October, NDTV board approved a new model to expand beyond news. It will develop a bouquet of channels providing entertainment and lifestyle content, while initiating a major thrust in new media, including the Internet. It will also set up a company called NDTV Ventures to undertake new initiatives that will include a Hindi mass entertainment channel, four metro channels (airing news, entertainment and sports) and regional business channels in partnership with local players.
The company also acquired broadcasting rights for international boxing for 10 years in India. Its entertainment channel will be free to air to start with.
In March, NDTV entered a joint venture with Genpact to offer services like editing and digitisation. A joint statement said that 70% of all media work is now in the digital format, and about 70% of that could be outsourced. The joint venture intends to capitalise this untapped market.
NDTV operates news channels in Hindi and English. It had, through its 100% subsidiary NDTV News, acquired minority stake in Radio Today, which operates FM radio channel `Red FM' in Mumbai, Delhi, and Kolkata.
M&M inches ahead on hike in car prices
Mahindra & Mahindra rose 1.20% to Rs 974.10, after it decided to raise prices of Scorpio and Bolero models to counter higher input costs and inflation.
The price of sport utility vehicle (SUV) Scorpio will increase by Rs 3,000 - Rs 13,000, while that of its utility vehicle (UV) Bolero will rise by Rs 5,600 - Rs 6,500, beginning last week of January. "The price revision has been necessitated due to an increase in the input cost as well as other inflationary strain," Rajesh Jejurikar, executive vice president sales and marketing of Mahindra's automotive sector, said in a statement.
As many as 33,075 shares changed hands in the counter on BSE.
The stock steadily rallied in the past few trading sessions, advancing from Rs 874.30 on 10 January to Rs 985.30 by 16 January 2007, on strong buying. It also surged to a life high of Rs 1002, on the same day. It settled at Rs 962.70 on 17 January, on profit-booking.
Earlier this week, M&M decided to invest Rs 2500 crore in a new plant for its joint venture with Navistar International Corp. The company signed an agreement with the Maharashtra Government. Initially, the plant will have a capacity of 250,000 units. The production at the plant will begin in two years. Mahindra has 51% in a joint venture with truck maker Navistar International to make light, medium and heavy trucks and buses.
Mahindra & Mahindra’s tractor sales rose 21% in December 2006 to 6,759 units.
Recently, M&M entered into a joint venture with French car maker Renault to make 5,00,000 cars a year in India. The plant will be set up under a new joint venture, where both Renault and M&M will have equal equity participation. M&M's another existing 51:49 venture agreement with Renault, over a year old, envisages the manufacture of the Renault Logan, for which an investment of Euros 125 million has been made.
Mahindra & Mahindra is also readying itself to foray into North America, the world's largest market for sports utility vehicles (SUV) and pick-ups with its flagship Scorpio and a pick-up based on the same platform. In September, the company signed a distribution agreement with Global Vehicles of the US for distribution of M&M vehicles and accessories in the world's largest economy. M&M will be the first Indian automaker to enter the highly-competitive American passenger vehicle market.
The company posted 145.84% surge in net profit to Rs 386.47 crore for Q2 ended 30 September 2006, compared to Rs 157.20 crore for Q2 ended 30 September 2005. Total income increased from Rs 1,944.24 crore to Rs 2,563.41 crore. The numbers include exceptional income from Tech Mahindra IPO as also an octroi refund of Rs 40.40 crore.
posted by SY at 1:47 PM
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