Sensex trims losses
The market which had opened strong and declining sharply due to profit- booking, recovered as buying resumed at the lower level. India's wholesale price index rose 6.12% in the 12 months to 6 January, higher than the previous week's annual rise of 5.58% due to higher food and energy prices. The figure was marginally higher than estimated 6.11%. The annual inflation rate was 3.86% during the corresponding week of the previous year.
At 12:38 IST the BSE Sensex was down 87.99 points, at 14,129.76.
The BSE benchmark index had opened with a spurt, at 14,271.24, and surged to a high of 14,300.11, buoyed by stronger-than-expected results of index heavyweight Reliance Industries (RIL) and a fall in global crude oil prices.
Immediately after, selling began and continued till the benchmark index slipped to 14,067.52.The total turnover on BSE amounted to Rs 2049 crore.The market-breadth turned negative, as small-cap and mid-cap stocks came under pressure. For 1,643 shares declining, 888 advanced and 63 remained unchanged.Among the 30-Sensex pack, 20 declined while the rest advanced.
Premier Explosives upbeat on ISRO job
Premier Explosives jumped 5% to Rs 48.70, after the company secured a ten-year maintenance contract from ISRO.The contract worth Rs 7 crore per year requires maintenance of a propellant plant for the premier space organisation.
There were outstanding buy orders for 13,738 shares at the 5% upper limit. A strong 72,443 shares changed hands in the scrip.
The stock witnessed a solid surge in early December 2006, which fizzled out swiftly. From Rs 35.35 on 1 December 2006, it had surged to Rs 56.70 on 8 December 2008. It had also tumbled to Rs 43.70 on 21 December 2006. The stock was range-bound since then.
Premier Explosives manufactures explosives and also grows white button mushrooms.
The company recently started production of specialised products for defence sector. The commercial production at this division commenced from September 2006.
For Q2 September 2006, Premier Explosive reported 43.8% fall in net profit to Rs 0.41 crore. Net sales rose 3.7% to Rs 15.76 crore.
Hindustan Construction drops as net profit declines in Q3
Hindustan Construction Company dropped nearly 3% to Rs 153.35 after it reported a 2.9% fall in net profit in December 2006 quarter.5.9 lakh shares changed hands in the counter on BSE.The stock had firmed up ahead of results. From a low of Rs 138.65 on 20 December 2006, it had risen to Rs 158 by 18 January. The results hit the market in early afternoon trade today.
Hindustan Construction Company (HCC)’s net profit declined 2.9% to Rs 21.99 crore from Rs 22.66 crore in December 2006 quarter. Total income rose 17.4% to Rs 536.31 crore (Rs 456.60 crore).
The company said the total balance value of work on hand as on December 31, 2006 was Rs 9604 crore including Rs 1940 crore being the company’s share of an order secured by a joint venture which is subject to the decision of a High Court, the company said.
Late last month, HCC had secured Rs 275 crore national highways project order in Andhra Pradesh on BOT (annuity) basis.
Hindustan Construction Company (HCC) focusses on high-value sub-sectors like power, roads, ports, and urban infrastructure within the construction segment. To diversify its risk from one market, HCC has stressed on overseas projects in the Middle East and Africa.
HCC has also forayed into the burgeoning Indian real estate market by floating - HCC Real Estate - a 100% subsidiary of the group. The company has also transferred the development rights of its land at Vikhroli in Mumbai and investments in Lavasa hill station development project, to HCC Real Estate
Recently, HCC signed up with Starwood Hotels and Resorts International to manage its two hotel properties at the upcoming Lavasa township near Pune. The 12,500 acre Lavasa township is an integrated urban and economic centre providing aspira-tional lifestyle and facilities. HCC Real Estate, a subsidiary of HCC, owns 60% of Lavasa.
At 12:38 IST the BSE Sensex was down 87.99 points, at 14,129.76.
The BSE benchmark index had opened with a spurt, at 14,271.24, and surged to a high of 14,300.11, buoyed by stronger-than-expected results of index heavyweight Reliance Industries (RIL) and a fall in global crude oil prices.
Immediately after, selling began and continued till the benchmark index slipped to 14,067.52.The total turnover on BSE amounted to Rs 2049 crore.The market-breadth turned negative, as small-cap and mid-cap stocks came under pressure. For 1,643 shares declining, 888 advanced and 63 remained unchanged.Among the 30-Sensex pack, 20 declined while the rest advanced.
Premier Explosives upbeat on ISRO job
Premier Explosives jumped 5% to Rs 48.70, after the company secured a ten-year maintenance contract from ISRO.The contract worth Rs 7 crore per year requires maintenance of a propellant plant for the premier space organisation.
There were outstanding buy orders for 13,738 shares at the 5% upper limit. A strong 72,443 shares changed hands in the scrip.
The stock witnessed a solid surge in early December 2006, which fizzled out swiftly. From Rs 35.35 on 1 December 2006, it had surged to Rs 56.70 on 8 December 2008. It had also tumbled to Rs 43.70 on 21 December 2006. The stock was range-bound since then.
Premier Explosives manufactures explosives and also grows white button mushrooms.
The company recently started production of specialised products for defence sector. The commercial production at this division commenced from September 2006.
For Q2 September 2006, Premier Explosive reported 43.8% fall in net profit to Rs 0.41 crore. Net sales rose 3.7% to Rs 15.76 crore.
Hindustan Construction drops as net profit declines in Q3
Hindustan Construction Company dropped nearly 3% to Rs 153.35 after it reported a 2.9% fall in net profit in December 2006 quarter.5.9 lakh shares changed hands in the counter on BSE.The stock had firmed up ahead of results. From a low of Rs 138.65 on 20 December 2006, it had risen to Rs 158 by 18 January. The results hit the market in early afternoon trade today.
Hindustan Construction Company (HCC)’s net profit declined 2.9% to Rs 21.99 crore from Rs 22.66 crore in December 2006 quarter. Total income rose 17.4% to Rs 536.31 crore (Rs 456.60 crore).
The company said the total balance value of work on hand as on December 31, 2006 was Rs 9604 crore including Rs 1940 crore being the company’s share of an order secured by a joint venture which is subject to the decision of a High Court, the company said.
Late last month, HCC had secured Rs 275 crore national highways project order in Andhra Pradesh on BOT (annuity) basis.
Hindustan Construction Company (HCC) focusses on high-value sub-sectors like power, roads, ports, and urban infrastructure within the construction segment. To diversify its risk from one market, HCC has stressed on overseas projects in the Middle East and Africa.
HCC has also forayed into the burgeoning Indian real estate market by floating - HCC Real Estate - a 100% subsidiary of the group. The company has also transferred the development rights of its land at Vikhroli in Mumbai and investments in Lavasa hill station development project, to HCC Real Estate
Recently, HCC signed up with Starwood Hotels and Resorts International to manage its two hotel properties at the upcoming Lavasa township near Pune. The 12,500 acre Lavasa township is an integrated urban and economic centre providing aspira-tional lifestyle and facilities. HCC Real Estate, a subsidiary of HCC, owns 60% of Lavasa.
posted by SY at 1:25 PM
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