Sensex spurts to an all-time high, above 14,400
The BSE Sensex surged above the 14,400 mark, to strike an all-time high of 14,405.33 as buying continued from yesterday (1 February 2007). At 10:13 IST the BSE Sensex was up 138.59 points, at 14,405.77. It had opened higher, at 14,293.11, and continued moving higher.
The total turnover on BSE amounted to Rs 827 crore.The market-breadth was strong. For 1,386 shares advancing, 391 declined.There were no losers among the 30-member Sensex pack.Gujarat Ambuja Cements was the top gainer, up 2.40% to Rs 142.70, on a volume of 4.45 lakh shares.Bharti Airtel (up 1.69% to Rs 744), Satyam Computers (up 2.04% to Rs 483.80) and HDFC Bank (up 1.78% to Rs 1121.80) were the other big gainers.Index heavyweight Reliance Industries (RIL) was up 0.91% to Rs 1388 as volume of 43,888 shares.
Indiabulls Financial Services upbeat
Indiabulls Financial Services rose nearly 4% to Rs 401.70, extending Thursday’s rise after reporting a strong financial performance for Q3 Dec-2006.
As many as 7.6 lakh shares changed hands in the counter on BSE. The stock had gained 6.1% on Thursday (1 February 2007) to Rs 387.10 after unveiling Q3 results on 31 January 2007.
The stock had firmed up ahead of the results having risen from a low of Rs 264.30 on 10 January 2007. It may be recalled that the stock had witnessed a sharp fall on 2 January 2007, when trading for the scrip began giving effect to the demerger of its real estate arm in favour of a separate company, Indiabulls Real Estate (IREL). From Rs 659.65 on 29 Dec-2006, the stock tumbled to Rs 305.25 on 2 Jan-2007. It had drifted to a low of Rs 264.30 on 10 Jan-2007.
Indiabulls Financial Services’ consolidated net profit for the quarter ended 31 December 2006, grew 55.9% to Rs 117.6 crore compared with Rs 71.6 crore in the corresponding period last fiscal. Total consolidated revenues rose by 103.5% in the third quarter to Rs 334.53 crore from the previous year's Rs 164.37 crore.
For April-December 2006, the consolidated profit-after-tax soared by 63.9% to Rs 283.47 crore against Rs 172.98 crore in the year ago period. On total revenues, the company witnessed nearly 98% growth at Rs 825.62 crore versus Rs 417.67 crore recorded in 2005.
Following the demerger of the real estate arm, Indiabulls Financial Services (IFSL) has two key businesses – brokerage and consumer finance.
Indiabulls Financial Services, recently, allotted about 1.1 crore equity shares to promoters upon conversion of warrants with a total value of Rs 81.18 crore. The shares were allotted at a price of Rs 82 each. Consequent to the above allotment, the paid-up equity share capital of the company increased to Rs 35.93 crore from Rs 33.73 crore.
Meanwhile, shares of Indiabulls Real Estate (IREL) are expected to be listed on the bourses this month. A share of IREL was allotted for every share held in Indiabulls Financial Services.
Maruti Udyog edges ahead
Maruti Udyog gained 0.7% to Rs 946, as the company has raised prices of its cars by up to Rs 12,000.As many as 10,128 shares changed hands in the counter on BSE.
The stock had risen a mere 0.28% on Thursday to Rs 939.30 even as the company reported strong sales for January 2007. After a sharp fall in early-January 2007, the stock bounced back from the lower level. From Rs 880.75 on 10 January 2007, the stock firmed up to Rs 939.30 on 1 February 2007.
Prices of the Baleno sedan and Gypsy King multi-utility have been raised by Rs 12000, while the Wagon R hatchback and newly launched Zen Estillo will cost Rs 3500 more. The mini Maruti 800, Omni, Alto, Esteem mid-size and Swift's petrol variant will cost Rs 2000 more.
Maruti last raised prices in August 2006 by up to Rs 5,000. The company said a major portion of the cost increase -- effective from 1 February 2007 -- will go toward better dealer margins in the fast-growing market. "Over the recent past, there have been significant increases in input costs of the company as also the operational costs of its dealers," Maruti said in a statement late on Thursday. "The company decided to pass on a part of this burden to its customers."
Maruti’s net profit rose 11% in December 2006 quarter to Rs 376.41 crore on 18% growth in sales to Rs 3679 crore.
The total turnover on BSE amounted to Rs 827 crore.The market-breadth was strong. For 1,386 shares advancing, 391 declined.There were no losers among the 30-member Sensex pack.Gujarat Ambuja Cements was the top gainer, up 2.40% to Rs 142.70, on a volume of 4.45 lakh shares.Bharti Airtel (up 1.69% to Rs 744), Satyam Computers (up 2.04% to Rs 483.80) and HDFC Bank (up 1.78% to Rs 1121.80) were the other big gainers.Index heavyweight Reliance Industries (RIL) was up 0.91% to Rs 1388 as volume of 43,888 shares.
Indiabulls Financial Services upbeat
Indiabulls Financial Services rose nearly 4% to Rs 401.70, extending Thursday’s rise after reporting a strong financial performance for Q3 Dec-2006.
As many as 7.6 lakh shares changed hands in the counter on BSE. The stock had gained 6.1% on Thursday (1 February 2007) to Rs 387.10 after unveiling Q3 results on 31 January 2007.
The stock had firmed up ahead of the results having risen from a low of Rs 264.30 on 10 January 2007. It may be recalled that the stock had witnessed a sharp fall on 2 January 2007, when trading for the scrip began giving effect to the demerger of its real estate arm in favour of a separate company, Indiabulls Real Estate (IREL). From Rs 659.65 on 29 Dec-2006, the stock tumbled to Rs 305.25 on 2 Jan-2007. It had drifted to a low of Rs 264.30 on 10 Jan-2007.
Indiabulls Financial Services’ consolidated net profit for the quarter ended 31 December 2006, grew 55.9% to Rs 117.6 crore compared with Rs 71.6 crore in the corresponding period last fiscal. Total consolidated revenues rose by 103.5% in the third quarter to Rs 334.53 crore from the previous year's Rs 164.37 crore.
For April-December 2006, the consolidated profit-after-tax soared by 63.9% to Rs 283.47 crore against Rs 172.98 crore in the year ago period. On total revenues, the company witnessed nearly 98% growth at Rs 825.62 crore versus Rs 417.67 crore recorded in 2005.
Following the demerger of the real estate arm, Indiabulls Financial Services (IFSL) has two key businesses – brokerage and consumer finance.
Indiabulls Financial Services, recently, allotted about 1.1 crore equity shares to promoters upon conversion of warrants with a total value of Rs 81.18 crore. The shares were allotted at a price of Rs 82 each. Consequent to the above allotment, the paid-up equity share capital of the company increased to Rs 35.93 crore from Rs 33.73 crore.
Meanwhile, shares of Indiabulls Real Estate (IREL) are expected to be listed on the bourses this month. A share of IREL was allotted for every share held in Indiabulls Financial Services.
Maruti Udyog edges ahead
Maruti Udyog gained 0.7% to Rs 946, as the company has raised prices of its cars by up to Rs 12,000.As many as 10,128 shares changed hands in the counter on BSE.
The stock had risen a mere 0.28% on Thursday to Rs 939.30 even as the company reported strong sales for January 2007. After a sharp fall in early-January 2007, the stock bounced back from the lower level. From Rs 880.75 on 10 January 2007, the stock firmed up to Rs 939.30 on 1 February 2007.
Prices of the Baleno sedan and Gypsy King multi-utility have been raised by Rs 12000, while the Wagon R hatchback and newly launched Zen Estillo will cost Rs 3500 more. The mini Maruti 800, Omni, Alto, Esteem mid-size and Swift's petrol variant will cost Rs 2000 more.
Maruti last raised prices in August 2006 by up to Rs 5,000. The company said a major portion of the cost increase -- effective from 1 February 2007 -- will go toward better dealer margins in the fast-growing market. "Over the recent past, there have been significant increases in input costs of the company as also the operational costs of its dealers," Maruti said in a statement late on Thursday. "The company decided to pass on a part of this burden to its customers."
Maruti’s net profit rose 11% in December 2006 quarter to Rs 376.41 crore on 18% growth in sales to Rs 3679 crore.
posted by SY at 12:36 PM
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