Strong market breadth
The market breadth was strong on BSE, as buying spilled over small-cap and mid-cap stocks as well. There were over 1.5 gainers for every loser. 1503 shares advanced, as compared to 968 that declined. 69 shares remained unchanged.
As per latest data, India's wholesale price index rose 5.95% in the 12 months to 13 January, down from the previous week's two-year high due to a fall in some food prices.
The market stayed firm at higher levels as short covering continued ahead of expiry of January 2007 derivatives contracts.At 12:41 IST, the BSE Sensex was up 50.88 points to 14,161.34. It opened higher at 14151.62 and surged to hit a high of 14209.41. Its low so far is at 14115.40.
Bank of Baroda banks on strong Q3 results
State run Bank of Baroda rose nearly 3% to Rs 253 as the stock rose for the second day in a row after it reported 62.7% growth in net profit in December 2006 quarter.
2.03 lakh shares changed hands in the counter on BSE.The scrip had risen 4.5% to Rs 246.05 on Wednesday 24 January 2007 following the announcement of the results during trading hours. Earlier, the stock remained range bound since mid-December 2006. It moved between Rs 219 to Rs 248 since early December 2006.
Bank of Baroda’s net profit jumped 62.7% in December 2006 quarter to Rs 329.13 crore (Rs 202.18 crore). Total income rose 32.8% to Rs 2720.67 crore (Rs 2047.66 crore).
On 10 January 2007, Bank of Baroda (BoB) and India Infrastructure Finance Company (IIFC) entered into an MoU to enhance the provision of financing and other banking products and services to entities involved in infrastructure development. As a part of the MoU, the two entities will co-operate in debt financing to enable quicker financial closure for infrastructure projects in the area such as power generation and distribution, road and bridges, telecommunication, ports and technology parks.
Recently, BoB rolled out a small and medium enterprise (SME) loan factory across three locations in Mumbai. The bank's SME segment has been growing at the rate of 25% this year. Currently bank has about 15 SME loan factories across currently.
On 24 January 2007, Bank of Baroda entered into an MOU with India Infoline to launch online trading facilities for its customers named as Baroda-e-trading, to provide comprehensive suite of products and services under its wealth management initiatives.
BoB also intends to focus on international operations. At present, the bank operates in 21 countries with 40 branches and 20 subsidiaries and representative offices.
Effective January 22, Bank of Baroda raised the interest rates on term deposits to 8.25 per cent per annum on all fresh and renewed deposits upto Rs 1 crore for a period of 15 months and upto 5 years. The offer is valid upto 31 March 2007.
Earlier, effective from 1 January 2007, BoB raised its benchmark prime lending rate (BPLR) by 0.5% from 11.50% to 12%.
Micro Technologies inches ahead on decent Q3 number
Micro Technologies rose 0.57% at 280.50 on the back of favourable Q3 results.The stock touched a intra day high of Rs.286.65 earlier and has done volumes of 28423 shares on the BSE.
The stock has displayed quite some volatility in the past 2 months. From Rs 218.15 on 28 November 2006, it shot up to Rs 292.25 in two days of trading. But the rally fizzled out shortly with the scrip reaching a low of Rs 232.05 on 12 December 2006. From then it has ascended to the current levels.
Micro Tech reported a 18.84% quarter on quarter (QoQ) rise in net profit at Rs.8.77 crore while the net sales rose a decent 9.81% QoQ at Rs.28.24 crore.
Micro Technologies is a global provider of security, safety and life-support solutions. It combines state-of-the-art technologies such as GPS, wireless communications, and business intelligence with a full array of sensors to ensure integrity, security and efficiency.
Through one of its major allies, the company recently received approval for its micro vehicle navigator system for Premium Municipal Corporation in the UAE. Among other recent launches by the company is a unique global e-security product called as Micro Internet Access Security System – Bank. With rapidly growing e-trading and e- commerce, the company expects its products to do well.
As per latest data, India's wholesale price index rose 5.95% in the 12 months to 13 January, down from the previous week's two-year high due to a fall in some food prices.
The market stayed firm at higher levels as short covering continued ahead of expiry of January 2007 derivatives contracts.At 12:41 IST, the BSE Sensex was up 50.88 points to 14,161.34. It opened higher at 14151.62 and surged to hit a high of 14209.41. Its low so far is at 14115.40.
Bank of Baroda banks on strong Q3 results
State run Bank of Baroda rose nearly 3% to Rs 253 as the stock rose for the second day in a row after it reported 62.7% growth in net profit in December 2006 quarter.
2.03 lakh shares changed hands in the counter on BSE.The scrip had risen 4.5% to Rs 246.05 on Wednesday 24 January 2007 following the announcement of the results during trading hours. Earlier, the stock remained range bound since mid-December 2006. It moved between Rs 219 to Rs 248 since early December 2006.
Bank of Baroda’s net profit jumped 62.7% in December 2006 quarter to Rs 329.13 crore (Rs 202.18 crore). Total income rose 32.8% to Rs 2720.67 crore (Rs 2047.66 crore).
On 10 January 2007, Bank of Baroda (BoB) and India Infrastructure Finance Company (IIFC) entered into an MoU to enhance the provision of financing and other banking products and services to entities involved in infrastructure development. As a part of the MoU, the two entities will co-operate in debt financing to enable quicker financial closure for infrastructure projects in the area such as power generation and distribution, road and bridges, telecommunication, ports and technology parks.
Recently, BoB rolled out a small and medium enterprise (SME) loan factory across three locations in Mumbai. The bank's SME segment has been growing at the rate of 25% this year. Currently bank has about 15 SME loan factories across currently.
On 24 January 2007, Bank of Baroda entered into an MOU with India Infoline to launch online trading facilities for its customers named as Baroda-e-trading, to provide comprehensive suite of products and services under its wealth management initiatives.
BoB also intends to focus on international operations. At present, the bank operates in 21 countries with 40 branches and 20 subsidiaries and representative offices.
Effective January 22, Bank of Baroda raised the interest rates on term deposits to 8.25 per cent per annum on all fresh and renewed deposits upto Rs 1 crore for a period of 15 months and upto 5 years. The offer is valid upto 31 March 2007.
Earlier, effective from 1 January 2007, BoB raised its benchmark prime lending rate (BPLR) by 0.5% from 11.50% to 12%.
Micro Technologies inches ahead on decent Q3 number
Micro Technologies rose 0.57% at 280.50 on the back of favourable Q3 results.The stock touched a intra day high of Rs.286.65 earlier and has done volumes of 28423 shares on the BSE.
The stock has displayed quite some volatility in the past 2 months. From Rs 218.15 on 28 November 2006, it shot up to Rs 292.25 in two days of trading. But the rally fizzled out shortly with the scrip reaching a low of Rs 232.05 on 12 December 2006. From then it has ascended to the current levels.
Micro Tech reported a 18.84% quarter on quarter (QoQ) rise in net profit at Rs.8.77 crore while the net sales rose a decent 9.81% QoQ at Rs.28.24 crore.
Micro Technologies is a global provider of security, safety and life-support solutions. It combines state-of-the-art technologies such as GPS, wireless communications, and business intelligence with a full array of sensors to ensure integrity, security and efficiency.
Through one of its major allies, the company recently received approval for its micro vehicle navigator system for Premium Municipal Corporation in the UAE. Among other recent launches by the company is a unique global e-security product called as Micro Internet Access Security System – Bank. With rapidly growing e-trading and e- commerce, the company expects its products to do well.
posted by SY at 1:04 PM
0 Comments:
Post a Comment
<< Home