Markets end strong shrugging off CRR hike

It was a fantastic close for the market near the highest point of the day after brushing off the 50 bps CRR hike to 7%. The markets dipped immediately after the monetary policy declared but having realised that the CRR hike is more of a liquidity management tool than any interst rate signal to the market.

Sensex ended up 290.08 points or 1.90% at 15550.99, and the Nifty up 88.80 points or 2.00% at 4528.85.

Capital goods stocks rallied on the back of strong growth visibility ahead due to their robust order book positions. Bhel (up 5.48% to Rs 1734.10) and L&T (up 7.29% to Rs 2624), surged.Cement shares posted smart gains on fresh buying, in the wake of ongoing infrastructure boom. ACC (up 3.36% to Rs 1057), India Cements (up 7.59% to Rs 218.90) and UltraTech Cement Company (up 4.44% to Rs 937) surged.India’s top housing finance company HDFC vaulted 5.62% to Rs 2016.

ITC, India’s largest cigarette manufacturer, rose 1.82% to Rs 170.35.Ranbaxy Laboratories, the country’s largest pharma company by sales, rose 3.80% to Rs 391 after it commercialised its first authorised generic product, Isoptin SR -- an anti hypertensive agent -- in the US market.

India's second largest listed telecom service provider in terms of sales, Reliance Communications advanced 3.83% to Rs 561.40 after its net profit soared 76.58% to Rs 837.3 crore in Q1 June 2007.

India’s largest private steel maker Tata Steel rose 1.30% to Rs 655.65. Tata Steel posted 28% rise in net profit to Rs 1222 crore Q1 June 2007 over Q1 June 2006, on foreign exchange gains and higher margins. It earned Rs 553 crore in the quarter as gains from foreign exchange. Net sales rose 7.66% to Rs 4198 crore in Q1 June 2007 over Q1 June 2006.

Fourth largest IT services exporter Satyam Computer Services rose 0.52% to Rs 481.40 on bagging two multi million dollar contracts to support International Federation of Association Football and its major forthcoming events.

Reliance Industries (RIL), the country’s largest private sector company, gained 2.44% to Rs 1893. There were reports that after acquiring the retail venture of the Adani Group, RIL is now likely to acquire Adani’s Rs 331 crore gas supply network linking three towns in western India.

India's top tractor and utility vehicle maker Mahindra & Mahindra lost 2.86% to Rs 731.Hindustan Unilever (down 1.32% to Rs 206), Infosys (down 0.62% to Rs 1976) and Tata Motors (down 1.15% to Rs 699), were the other losers.

Reliance Comm Q1 net profit up at Rs 1221 cr

Reliance Communication has declared its Q1 FY08 results. The company has registered net profit of Rs 1221 crore in the first qtr versus Rs 1024.4 crore on QoQ basis.

During the cooresponding quarters, its revenues were at Rs 4304 crore versus Rs 3936.9 crore, QoQ. Its EBIDTA margin stood at 42.1% versus 41.5% on QoQ basis.

Markets trading strong

The market spurted in opening trade supported by firm Asian and US markets. Strong buying continued in index pivotals.The markets are trading strong since opening today on the back of buying seen in realty, capital good and banking stocks.At 12.00 hrs IST, the Sensex is up 140.75 points at 15401.66, and the Nifty up 41.75 points at 4481.80.

Shares from the banking sector rallied on momentum buying ahead of the monetary policy review of RBI. ICICI Bank (up 0.50% to Rs 928), Bank of Baroda (up 1.45% to Rs 297.40), Union Bank of India (up 0.66% to Rs 158.75), Kotak Mahindra Bank (up 0.96% to Rs 722.40), Federal Bank (up 1.66% to Rs 357.50), State Bank of India (up 1.14% to Rs 1596.60) and Punjab National Bank (up 1% to Rs 510) gained from the banking pack.

The Reserve Bank of India (RBI) is likely to leave its key benchmark rates untouched in its first quarterly review of the annual policy statement today, 31 July 2007. According to experts from money market, the central bank is likely to shift its focus to the problem of excess liquidity in the money market system, evident from the softening of interest rates in overnight call money market.

The RBI had pushed its benchmark repo rate to a four-year peak of 7.75% in its drive to tame inflation, raising the repo, its key short-term lending rate, 5 times between June 2006 and March 2007. India's inflation accelerated to 4.41% for the week ended 14 July from 4.27% the previous week.


India’s largest cigarette manufacturer ITC jumped 3.50% to Rs 173.15 on 6.28 lakh shares.India's largest power equipment maker Bharat Heavy Electricals (Bhel) advanced 2.46% to Rs 1686 even as it reported a lower-than-expected 22% growth in net profit to Rs 288.9 crore in Q1 June 2007 over Q1 June 2006. At the end of Q1 June 2007, Bhel had an outstanding order book position of around Rs 62,400 crore.

India’s largest private sector steel maker Tata Steel slipped 0.10% to Rs 646.60. Tata Steel posted 28% rise in standalone Q1 June 2007 net profit to Rs 1222 crore over Q1 June 2006, on foreign exchange gains and higher margins. It earned Rs 553 crore in the quarter as gains from foreign exchange. Net sales rose 7.66% to Rs 4198 crore in Q1 June 2007 over Q1 June 2006.

Reliance Industries (RIL), the country’s largest private sector company, was up 1.05% to Rs 1867. There are reports that after acquiring the retail venture of the Adani Group, RIL is now likely to acquire Adani’s Rs 331 crore gas supply network linking three towns in western India.

India's top tractor and utility vehicle maker, Mahindra & Mahindra declined 2.40% to Rs 734.60.Hindustan Unilever (down 0.80% to Rs 207), and Infosys (down 0.92% to Rs 1970), were the other losers.

Markets end flat

After trading strong till late-afternoon trade, following steady buying interest in index pivotals, the market came sharply off higher level during late afternoon session on fresh selling. Short covering at lower level restricted the fall.Sensex ended up 26.34 points or 0.17% at 15260.91, and the Nifty down 5.15 points or 0.12% at 4440.05.

Hindustan Unilever jumped 6.10% to Rs 208.40 on 14.42 lakh shares after its board of directors at its meeting held on 29 July 2007 approved the buyback at a price not exceeding Rs 230 per share up to an aggregate amount of Rs 630 crore.

State Bank of India (SBI), the country’s biggest commercial bank, advanced 5.40% to Rs 1,581. Cement stocks ACC (up 2.37% to Rs 1023.60), Ambuja Cements (up 2.92% to Rs 128.70) and UltraTech Cement Company (up 2.80% to Rs 899) gained on fresh buying

Aditya Birla Group diversified company Grasim Industries gained 2.20% to Rs 2925. Grasim, on Saturday, 29 July 2007, reported a 64.04% jump in net profit to Rs 511.66 crore in Q1 June 2007 over Q1 June 2006. The total income of the Mumbai-based company increased 30.23% to Rs 2,512.53 crore in Q1 June 2007 over Q1 June 2006.

India’s leading utility company Reliance Energy rose 1.95% to Rs 778.25 after hitting a high of Rs 814.90. It has won the revised bid for the Sasan ultra mega power project (UMPP), the government said today. Last week, the government officially disqualified the Lanco Infratech-Globeleq consortium, alleging misrepresentation of financial data and the subsequent withdrawal of Globeleq from the consortium. Lanco had apparently bid Rs 1.19 per unit in the first auction. REL had previously bid Rs 1.29 per unit. Other suitors in the race for the Sasan project were NTPC and Jaiprakash Associates.

L&T, India’s largest engineering & construction firm, rose 0.97% to Rs 2449.India’s largest private sector company Reliance Industries (RIL) declined 1.27% to Rs 1,842.70 on media reports that it may suspend its $5.2-billion project for producing gas from D6 block in KG basin if the Indian government does not approve its gas price formula by the end of August 2007.Aluminium and copper major Hindalco Industries slumped 4.24% to Rs 165.95.

Mahindra & Mahindra, the country’s largest tractor maker by sales, slumped 2.82% to Rs 754, after its net profit declined 6.37% to Rs 191.17 in Q1 June 2007 over Q1 June 2006. Total income rose 15.89% to Rs 2644.38 crore in Q1 June 2007 over Q1 June 2006.

ITC (down 2.65% to Rs 167.25), TCS (down 1.73% to Rs 1133), and Bhel (down 1.21% to Rs 1640) were the other losers.India’s largest private steel maker Tata Steel lost 0.70% to Rs 647 after it reported a 28% growth in net profit to Rs 1222 crore in Q1 June 2007 over Q1 June 2006. Net sales rose 7.66% to Rs 4198 crore in Q1 June 2007 over Q1 June 2007

Markets gain further ground

The markets opened flat amid volatility on the first trading day of the week in line with its Asian peers.The markets have pulled back and trading in the green. Asia has recovered for itself, Nikkie which was in deep red is now trading flat.At 12:40 pm, Sensex is up 117 points at 15351 and Nifty was up 22 points at 4467.

ICICI Bank (up 0.81% to Rs 821.65), Indian Bank (up 2.8% to Rs 146.10), Bank of Baroda (up 1.45% to Rs 293.50), Union Bank of India (up 0.66% to Rs 159.25), Kotak Mahindra Bank (up 0.80% to Rs 720.30), Federal Bank (up 3.40% to Rs 344.05) and Punjab National Bank (up 1.83% to Rs 510) gained from the banking pack.

RBI is likely to keep rates steady. However, it remains to be seen whether the central bank will raise cash reserve ratio (CRR) to suck out excess liquidity in the banking system.

State Bank of India (SBI), the country’s biggest commercial bank advanced 4.20% to Rs 1,563.20 after it on Saturday, 29 July 2007, posted 78.6% jump in net profit to Rs 1,425.81 crore in Q1 June 2007 over Q1 June 2006. The bank’s consolidated net profit jumped 93.3% to Rs 1,862 crore in Q1 June 2007 over Q1 June 2006. Net interest income was up 15% at Rs. 4,497.40 crore in Q1 June 2007 over Q1 June 2006.

Hindustan Unilever jumped 5.57% to Rs 207.20 after its board of directors at its meeting held on 29 July 2007 approved the buyback at a price not exceeding Rs 230 per share up to an aggregate amount of Rs 630 crore.

India’s largest private sector company Reliance Industries (RIL) gained 0.51% to Rs 1,876 after it reported forecast beating 28.1% growth in net profit to Rs 3,264 crore in Q1 June 2007 over Q1 June 2006, on Saturday, 28 July 2007. Revenue rose 14.4% to Rs 28056 crore in Q1 June 2007 over Q1 June 2006. Gross refining margin (GRM) for the quarter was $15.4 per barrel, highest in the company’s history.

L&T (up 2.33% to Rs 2476), Grasim (up 3% to Rs 2948), and Reliance Energy (up 3.48% to Rs 790), were the other gainers.

India’s largest cigarette manufacturer ITC, was the top loser from the Sensex pack. It lost 2% to Rs 168 on 14.93 lakh shares.

Hindalco Industries (down 1.33% to Rs 171), Infosys (down 1.25% to Rs 1982), and Dr Reddy’s (down 1.21% to Rs 635.10), were the other losers

Market stages recovery from lower level

The market tumbled in opening trade today, 27 July 2007, on weak global markets.It was an absolute bloodbath on the street. All the sectoral indices on BSE posting sharp losses. Realty stocks were hammered brutally. Volatility also creeped in the bourses.

It looked as if the market was experiencing one of its worst days in terms of daily losses as it crashed further on panic selling. What started as an initial plunge on global meltdown gained further momentum. Asian markets also extended their fall.At 2:45 p.m, Sensex is trading at 15,360.54 down 415 points, down 3.37% and Nifty is trading at 4480 down 139 points.

India’s largest cigarette maker ITC surged 4.5% to Rs 174 after it reported forecast beating 20% rise in net profit in Q1 June 2007 to Rs Rs 782.87 crore over Q1 June 2006. A total of five brokerages had forecast between 7% to 12.9% growth in ITC’s net profit in Q1 June 2007 over Q1 June 2006. ITC has 4% weightage in Sensex.

Cement shares came off lower level. Gujarat Ambuja Cements gained 0.6% to Rs 125. ACC was down 1.7% to Rs 1,004, off the session’s low of Rs 977.

Car major Maruti Udyog was down 0.2% to Rs 838. The stock came off from the lower level from an intra-day 2% fall. The scrip had risen nearly 4% on Thursday, 26 July 2007, when it beat forecast by reporting a 35.1% growth in net profit in Q1 June 2007 over Q1 June 2007 during trading hours.

IT bellwether Infosys was down 1.6% to Rs 2001. The stock came off lower level from an intra-day 3% fall. Infosys has a 9.6% weightage in the Sensex.

Ranbaxy Laboratories, India's largest pharma firm by sales, was up 2.3% to Rs 382 on 15 lakh shares.Reliance Industries (RIL) shed 2.7% to Rs 1,887. RIL has a huge 13.1% weightage in Sensex. RIL unveils Q1 results tomorrow, 28 July 2007.

Metal shares tumbled. Second largest steel maker in terms of sales in India, Tata Steel lost 5% to Rs 668. India’s largest aluminium maker Hindalco Industries shed 4.4% to Rs 175.

The capital goods duo, Bharat Heavy Electricals (Bhel) and Larsen & Toubro (L&T), suffered steep losses. India’s largest power equipment maker Bhel lost nearly 5% to Rs 1,670. India's largest engineering & construction firm L&T plunged 4% to Rs 2,439.

Realty stocks, too, succumbed to selling pressure. DLF plunged 5.8% to Rs 595 and Unitech lost 5% to Rs 564.

Bank shares remained weak. The major losers among PSU banks were Canara Bank (down 5.8% to Rs 264), Dena Bank (down 5% to Rs 55.20), Bank of Baroda (down 4.6% to Rs 289), Corporation Bank (down 4.6% to Rs 355) and State Bank of India (down 3.5% to Rs 1,496).

Markets end with modest gain

The markets spiked in the late trade after witnessing sluggish trade for most of the day on triple witching day.Sensex closed at 15,776 up 76 points and the Nifty closed at 4620 up 31 points.

India’s largest drug manufacturer by sales Ranbaxy Laboratories jumped 9.95% to Rs 375. The stock rose after Ranbaxy today, 26 July 2007, reached an agreement with GlaxoSmithKline (GSK) to end their litigation in the US on Valtrex (valacyclovir hydrochloride tablets) used in the treatment of herpes.Other pharma stocks Cipla (up 4.16% to Rs 193.90) and Dr Reddy’s Laboratories (up 0.29% to Rs 667.40) also edged higher.

Auto stocks advanced on fresh buying interest in anticipation that sales will pick up after monsoon, generally a slack season. Bajaj Auto (up 1% to Rs 2378) and Mahindra & Mahindra (up 2.55% to Rs 802) advanced.Maruti Udyog vaulted 3.38% to Rs 837 on back on its first quarter results.

Infosys Technologies gained 1.81% to Rs 2,026 after it bagged a $250-million (around Rs 1,010 crore) contract from Royal Philips Electronics.TCS (up 3.13% to Rs 1185), Wipro (up 4.22% to Rs 520) and Satyam Computers (up 1.64% to Rs 494.90) gained in anticipation of further mergers and acquisitions activity in the IT sector.

Cement shares declined for the second straight day on fresh selling following reports that the goverment is easing cement import norms in an attempt to rein in prices. India’s second largest cement manufacturer ACC plunged 4.55% to Rs 1,021.80.Ambuja Cements (down 3% to Rs 124.50) and Shree Cement (down 2.86% to Rs 1,280) also slipped.

The country’s biggest private sector company Reliance Industries (RIL) advanced 1.92% to Rs 1,940, after striking an all-time high of Rs 1,948. RIL's results are due on Saturday, 28 July 2007. The market expects surprise on the positive side.

Capital goods heavyweights Bhel (down 2.05% to Rs 1,753) and L&T (down 1.13% to Rs 2,544.50) declined on profit booking after a recent rally.Top cellular services provider Bharti Airtel dropped 2.30% to Rs 925 on profit taking even as it reported robust Q1 June 2007 results.

Bank shares drifted lower on selling pressure. HDFC Bank (down 2.12% to Rs 1,215), State Bank of India (down 1.2% to Rs 1,549) and ICICI Bank (down 1.51% to Rs 945) slipped.ITC lost 0.21% to Rs 165.50. The stock had surged almost 9% on Wednesday, 25 July 2007, on market talks it may announce demerger of its agri business. ITC announces Q1 June 2007 results tomorrow, 27 July 2007.

Sugar stocks spurted at the fag end of the trading session. Shree Renuka Sugars (up 5.51% to Rs 635), Bajaj Hindustan (up 4.30% to Rs 160.20) and Balrampur Chini Mills (up 5.45% to Rs 70.65), galloped.

Bharti airtel Q1 results & ABB Q2 results

Bharti Airtel Q1 net up 11.75% at Rs 1512cr

Bharti Airtel has come out with first quarter results. The company has posted consolidated growth of 11.75% in its first quarter net profit of Rs 1512 crore (Rs 15.12 billion) as against Rs 1,353 crore (Rs 13.53 billion) in the previous quarter.

Revenue increased by 9.56% to Rs 5909 crore (Rs 59.09 billion) versus Rs 5,393.2 crore in earlier quarter. EBITDA margin stood at 41.4%.ARPU (average revenue per user) also declined to Rs 390 from Rs 406 QoQ.Topline and EBITDA is below the expectations and profits were boosted by forex gains. Bharti Airtel's forex gain was at Rs 239 crore.Its net profit stood at Rs 1,273 crore excluding Forex Gains.

Revenues per minute also decreased to 81 paise compared to 85 paise in the previous quarter.Bharti Airtel posted wireless margin at 40.6% and Infotel margin at 34.8% in first quarter. Infotel margins were hit by volatility in enterprise margins.

ABB Q2 net profit up at Rs 108.6 cr
ABB has announced its second quarter results. The company's Q2 net profit was up at Rs 108.6 crore (Rs 1.08 billion) versus Rs 71.9 crore (Rs 719 million).

Its revenues were up at Rs 1,416 crore (Rs 14.16 billion) from Rs 974.22 crore (Rs 9.74 billion).The company's order inflow at Rs 1,996 crore. It has order backlog at Rs Rs 4,636 crore.

Maruti Q1 net profit up at Rs 499 cr

Maruti Udyog has declared its first quarter results. The company's Q1 net profit was up at Rs 499 crore (Rs 4.99 billion) versus Rs 369.6 crore (Rs 3.69 billion).Its net sales were up at Rs 3,930 crore (Rs 39.30 billion) from Rs 3,125.5 crore (Rs 31.25 billion).

Markets trading flat

The market spurted in opening trades despite the subdued trend in Asian markets.The markets are trading flat but in green after giving up some of its opening gains on the back of selling pressure in the cap good, banking and FMCG stocks. However, auto, IT and realty stocks are still strong and attracting decent attention.

At 11:45 am, Sensex is trading up 68.63 points at 15767.96 and Nifty is up 11.35 points at 4600.05.

India’s fourth largest software services exporter, Satyam Computer Services jumped 3.25% to Rs 505.Auto stocks were in demand on fresh buying. Maruti Udyog (up 3% to Rs 834), Bajaj Auto (up 1.93% to Rs 2400), Mahindra & Mahindra (up 1.66% to Rs 794.65), and Tata Motors (up 1.47% to Rs 736.60), advanced.

India’s biggest cellular services provider Bharti Airtel struck an all time high of Rs 960 in opening trade. However it slipped from there, and was now down 1.25% to Rs 935. Its consolidated net profit as per US GAAP jumped 100% to Rs 1511.60 crore in Q1 June 2007 over Q1 June 2006, exceeding market expectations. Revenue rose 53% to Rs 5904.60 crore in Q1 June 2007 over Q1 June 2006. Revenue growth was within market expectations. The results hit the market just at the onset of the trading session today, 26 July 2007.

Second largest private sector bank HDFC Bank lost 2.38% to Rs 1,212.

India’s second largest software services exporter Infosys Technologies gained 1.27% to Rs 2015 after it bagged a $250-million (around Rs 1,010 crore) contract from Royal Philips Electronics.

India's largest wind turbine generator Suzlon Energy plunged 5.50% to Rs 1327 after its net profit declined 53.8% to Rs 89.4 crore in Q1 June 2007 over Q1 June 2006. Total income dipped 8.85% to Rs 862.9 crore in Q1 June 2007 over Q1 June 2006. The company made this announcement before market hours today, 26 July 2007

Infy acquires Philips' captive BPO arm

Infosys has bought the captive BPO division of Philips, sources said.

Philips BPO has centres in Chennai, Warsaw and Thailand, sources said, adding that it has 1,500 employees. 700 employees will be based in Poland.The deal is likely to be between USD 200 and USD 300 million, sources said. With the acquisition, Infy can look forward to assured revenues of USD 300 million, sources added.The acquisition will add to finance and accounts verticals. The acquisition will enhance the company's European capabilities.

Markets slipped due to weak global cues

The market remained weak throughout the day’s trade. Weakness in global markets and unwinding of positions in derivatives ahead the expiry of July 2007 derivatives contracts tomorrow, 26 July 2007, played spoilsport.The BSE 30-share Sensex lost 81.30 points to 15,713.62, as per provisional closing.The NSE Nifty slipped 28.05 points to 4,592.70, as per provisional closing.

India’s largest cigarette manufacturer ITC surged 8.57% to Rs 165.30 on 57.99 lakh shares. It was the top gainer from the Sensex pack. The company announces Q1 June 2007 results on Friday, 27 July 2007. Foreign brokerage CLSA has raised its price target to Rs 184, and upgraded it to buy from underperformer.

Meanwhile, ITC is reportedly planning to sell home and personal-care products to sustain growth as new taxes and curbs on smoking threaten cigarette sales. The new products will be sold through the company's network of 6,400 web kiosks and 18 supermarkets.

India's largest FMCG firm in sales Hindustan Unilever rose 1.03% to Rs 201.50.NTPC, India’s largest power generation company, gained 2.35% Rs 167.45. The stock had risen 3.6% on Tuesday 24 July 2007 after it signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation.India’s largest oil explorer ONGC advanced 2.35% to Rs 937 after it today, 25 July 2007, reported an 11.9% growth in net profit to Rs 4610 crore in Q1 June 2007 over Q1 June 2006.

IT pivotals were subdued after the rupee gradually approached the crucial 40-mark today, touching new nine-year high of 40.22 against the US currency in early trade. Fourth largest software services exporter Satyam Computers plunged 6.18% to Rs 486.25.Other IT pivotals, TCS (down 1.93% to Rs 1148), and Wipro (down 1.31% to Rs 499.85), also edged lower.However, India's second-largest software services exporter Infosys Technologies gained 0.69% to Rs 1,992.

Cement stocks plunged after their recent rally following reports today, 25 July 2007, that on Tuesday, 24 July 2007, MRTCP had ordered a probe into the business practices of 14 leading cement manufacturers.Ambuja Cements (down 5% to Rs 127.70), ACC (down 3.83% to Rs 1075), and Grasim (down 1.08% to Rs 2,990) slipped.

India’s largest private sector company Reliance Industries (RIL) was down 0.19% to Rs 1,908.10.Second largest bike maker Bajaj Auto slumped 3.61% to Rs 2,360 after it scheduled a separate meeting of equity shareholders and unsecured creditors on 18 August 2007 for considering and, if thought fit, approving with or without modification(s) the scheme of arrangement between the company, Bajaj Holdings & Investment & Bajaj Finserv and their respective shareholders & creditors.

HDFC, country’s largest housing finance company slipped 0.54% to Rs 1964. It posted 25.60% rise in net profit in Q1 June 2007 to Rs 372.81 crore over Q1 June 2006. Total operating income rose 46.60% to Rs 1830.39 crore in Q1 June 2007 over Q1 June 2006.

Geodesic Information Record Date for bonus issue

Geodesic Information Systems Ltd has informed that August 21, 2007 has been fixed as the Record Date to decide entitlement for Bonus shares @ 1:2 as declared by the shareholders in the Annual General Meeting held on July 23, 2007.

Markets trading weak

The market opened lower, tracking weak global markets.Though the breadth remained weak, the market later recovered a lot of lost ground as buying resumed at lower levels.At 12:45 pm, the Sensex was trading at 15666.41 down 128.51 points and Nifty was trading at 4578.45 down 42.30 points.

On Tuesday, 24 July 2007, MRTCP ordered a probe into the business practices of 14 leading cement manufacturers. North India's largest cement producer Ambuja Cements plunged 5.06% to Rs 127.60.ACC (down 3.30% to Rs 1081), Birla Corporation (down 5.46% to Rs 267.30), JK Cement, (down 3.86% to Rs 164.40), India Cement (down 7.31% to Rs 208), Ultratech Cement (down 5.83% to Rs 911.45) and Grasim (down 2.15% to Rs 2,958) also slipped.

India’s largest cigarette manufacturer ITC surged 7.42% to Rs 163.55.The company announces Q1 June 2007 results on Friday, 27 July 2007. The market is expecting the company to make some announcement on its retail foray. Meanwhile, ITC is reportedly planning to sell home and personal-care products to sustain growth as new taxes and curbs on smoking threaten cigarette sales. The new products will be sold through the company's network of 6,400 web kiosks and 18 supermarkets.

India’s largest private sector company Reliance Industries (RIL) was down 0.30% to Rs 1,906.As per reports, RIL is planning to set up 4,000 mega watt gas-based power generation capacity at multiple locations at an investment of Rs 10,000 crore, in addition to a mega fertiliser plant at Kakinada in Andhra Pradesh.

India's second-largest software services exporter Infosys Technologies was up 0.20% to Rs 1,980. As per market rumors, the company may announce an acquisition in Europe today, 25 July 2007. The size of the deal, expected to be in the back-office services segment, could be around $200 million.

India's largest oil exploration firm ONGC gained 1.20% to Rs 926.50.ONGC unveils Q1 June 2007 results today.

Second largest bike maker Bajaj Auto slumped 3.10% to Rs 2,373 after it scheduled a separate meeting of equity shareholders and unsecured creditors on 18 August 2007 for considering and, if thought fit, approving with or without modification(s) the scheme of arrangement between the company, Bajaj Holdings & Investment & Bajaj Finserv and their respective shareholders & creditors.

India's largest FMCG firm in sales Hindustan Unilever rose 1.68% to Rs 203 on rumors the company is disposal of its prime properties across India including its corporate office Lever House in Mumbai.

Markets end flat; Unimpressive close for nifty

The markets ended on a flat note after a fiarly volatile session. The boader markets ended in red giving it a weak breadth.The market,however, was choppy today,24 July 2007 which is likely to be the case over the next two days ahead of the expiry of the July 2007 derivatives contracts on 26 July 2007.Sensex closed at 15,794.92 up 63 points and the Nifty closed at 4620.75 up 1.4 points.

Auto stocks came under selling pressure on profit booking. Top utility maker and tractor major Mahindra & Mahindra was down 3.13% to Rs 797.30.Tata Motors (down 2.87% to Rs 749), Maruti Udyog (down 1.52% to Rs 821) were the other losers from the auto sector.

India's top bike maker Hero Honda slipped 1.67% to Rs 693 after reporting a 20.1% fall in net profit to Rs 189.84 crore in Q1 June 2007 over Q1 June 2006.

Cement stocks also took a breather after recent rally. ACC (down 2.94% to Rs 797.30), Ambuja Cements (down 0.63% to Rs 134.35) and Grasim (down 0.20% to Rs 3025) declined from the cement pack.

Leading power utility Reliance Energy (REL) galloped 7.58% to Rs 768.95 on reports that it is in talks with commodity exchanges, the Multi Commodity Exchange (MCX) and the National Commodity Derivatives Exchange (NCDEX), to pick up equity stake in two power exchanges proposed to be set up by them.

Fourth largest software exporter Satyam Computer Services surged 4.95% to Rs 516 on announcing strategic initiatives to strengthen its presence in South Africa. The company is banking on a sizeable number of contracts emanating from South Africa in the coming years and sees potential in providing IT solutions to the banking and financial, energy and utilities and government sectors.

State-run engineering major Bharat Heavy Electricals (Bhel) continued galloping, and gained 4.56% to Rs 1,846 today, coming of its all-time high of Rs 1,899 struck earlier in the day.Engineering & construction major L&T gained 2.10% to Rs 2,669.

NTPC jumped 3.58% to Rs 163 after the state-run power generation firm signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation. NTPC and other government entities will hold up to 50% in the joint venture to be established with other strategic investors, who will hold the remainder. ADB is expected to acquire 20% at a later stage. Financial details were not disclosed.

Index heavyweight Reliance Industries (RIL) slipped 0.13% to Rs 1,908.50.

Real-state developer Housing Development and Infrastructure settled at Rs 558.60 on BSE, a modest premium of 11.72% over the price of Rs 500 per share. The stock debuted at Rs 567.50 and hit a low of Rs 473.50 and high of Rs 617.50.

Markets marching ahead

The markets opened with decent gap up on account of broad based buying witnessed in the opening trade. Cues from the global markets were also favourable giving decent breadth.At 11.30 am, Sensex is up 113.67 points at 15845.87 and Nifty is up 22.40 points at 4641.75.

State-run engineering major Bharat Heavy Electricals (Bhel) galloped 4.11% to hit an -time high of Rs 1,838 after it secured a Rs 1,829-crore order for manufacturing and setting up a three 500-MW thermal power units in Haryana, on 23 July 2007. The project is a joint venture between National Thermal Power Corporation, Harayana State Electricity Board and Indraprastha Power Generation Company. It was the top gainer from the Sensex pack.

Engineering & construction major L&T also gained 1.87% to Rs 2,663.25, after striking an all-time high of Rs 2,680.IT major TCS was the top loser. It shed 1.23% to Rs 1176.

Index heavyweight Reliance Industries (RIL) advanced 0.42% to Rs 1,919. The stock hit an all-time high of Rs 1,925.85, in early trade today. As per reports, RIL plans to build a fertiliser plant that will use natural gas to be produced from its fields off India's east coast. The company has submitted a proposal to the fertiliser ministry to set up a plant with a capacity of up to four million tones.

Markets rally end on a high note

The market kept on surging as the day progressed, except for the odd hiccup in initial trade, which was due to weak global cues. Strong buying interest propelled the key indices to all time highs.Sensex ended up 166.65 points or 1.07% at 15732.2, and the Nifty up 53.30 points or 1.17% at 4619.35.

State-run engineering major Bharat Heavy Electricals (Bhel) galloped to an all-time high of Rs 1,798 after it secured a Rs 1,829-crore order for manufacturing and setting up three 500-MW thermal power units in Haryana. The project is a joint venture between National Thermal Power Corporation, Harayana State Electricity Board and Indraprastha Power Generation Company. The stock settled 7.54% higher at Rs 1,772.30.

Engineering & construction major L&T galloped 7.42% to Rs 2,659, after striking an all-time high of Rs 2,675.

Hindustan Unilever (HUL) jumped 4.53% to Rs 203.10 after its parent announced after market hours on 20 July 2007 it is considering a plan to buy its own shares on 29 July 2007. HUL will also declare financial accounts for the second quarter and half year ended 30 June 2007 on that day.State-run oil exploration major ONGC gained 2.49% to Rs 909.

Domestic pharma major Cipla was the top loser.It shed 4.90% to Rs 191. The company posted a 30% drop in net profit to Rs 120 crore in Q1 June 2007 over Q1 June 2006. Net sales rose 5% to Rs 902 crore in Q1 June 2007 over Q1 June 2006 on the growth in active pharmaceutical ingredient (API) exports business. The results were announced on 21 July 2007.Other pharma shares - Ranbaxy Laboratories (down 0.58% to Rs 350.50), and Dr Reddy’s Laboratories (down 0.15% to Rs 667.20), also edged lower.

Infosys Technologies shed 1.83% to Rs 1,950.40 after both the companies, Infosys and Capgemini, denied rumors of Infosys mulling the acquisition of aquiring Capgemini.

Index heavyweight Reliance Industries (RIL) advanced 1.43% to Rs 1,914, on reports it may seek foreign partner for its deep water exploration blocks off the country's east coast. Reports indicate that global oil firms, including Chevron, have shown interest in partnering RIL for its Cauvery oil & gas assets.

Auto stocks gained on fresh buying on a view that interest rates have peaked for the time being. Auto major Bajaj Auto advanced 4.21% to Rs 2,425, while Tata Motors (up 0.65% to Rs 772) and Maruti Udyog (up 0.85% to Rs 835) also gained.

Dabur Q1 result

Dabur Q1 cons net profit at Rs 62.22cr
Dabur India has come out with first quarter results. The company has reported net profit for the first quarter at Rs 62.22 crore as compared to Rs 48.22 crore in same quarter of previous year.

Dabur~Q1 Consolidated Net Sales At Rs 570.88 Cr Vs Rs 475.51 Cr.

Markets trading firm

The market was trading slightly higher in early trades, with high volatility. Cues from the global markets were weak.The market saw strength after initial weakness as buying resumed in index pivotals.At 12.10 pm IST, the Sensex is up 56.81 points at 15622.36, and the Nifty up 20.10 points at 4586.15.

Engineering & construction major L&T galloped 4% to Rs 2,574.85, after striking an all-time high of Rs 2,575.State-run engineering major Bhel gained 3.16% to Rs 1,700.05.

Hindustan Unilever (HUL) jumped 3.9% to Rs 201.85 after its parent announced after market hours on 20 July 2007 it is considering a plan to buy its own shares on 29 July 2007. HUL will also declare financial accounts for the second quarter and half year ended 30 June 2007 on that day.

State-run oil exploration major ONGC gained 1.25% to Rs 898 after the company said that it may have to shoulder lesser burden of fuel subsidies with the government agreeing to consider exchange rate losses while calculating the subsidy burden the upstream oil companies have to bear. Every one rupee appreciation against the dollar results in revenue loss of about Rs 900 crore to ONGC.

Domestic pharma major Cipla was the top loser from the Sensex pack. It shed 3.71% to Rs 193.45, on 12.58 lakh shares after posting a 30% drop in net profit to Rs 120 crore in Q1 June 2007 over Q1 June 2006. Net sales rose 5% to Rs 902 crore in Q1 June 2007 over Q1 June 2006 on the back of growth in active pharmaceutical ingredient (API) exports business. The results were announced on 21 July 2007.

Infosys Technologies shed 2.16% to Rs 1943.90 after both the companies, Infosys and Capgemini, denied rumors of Infosys mulling the acquisition of aquiring Capgemini.

ICICI Bank dipped 1.36% to Rs 972 despite posting a 25% rise in net profit in Q1 June 2007 to Rs 775.08 crore over Q1 June 2006, riding on increased fee-based income and retail lending. Total operating income rose 46.9% to Rs 9,281.42 crore in Q1 June 2007 over Q1 June 006. Fee income increased 35% to Rs 1,428 crore in Q1 June 2007 over Q1 June 2006.

Markets give up some early gains

The market which surged in initial trades, pared gains as some profit taking emerged at higher level. It opened as strong buying interest continued following a strong 249-point rally on Thursday, 19 July 2007. Also strong Asian and US markets boosted sentiment in early trade.

At 12.15 pm IST, the Sensex is up 108.66 points at 15658.79, and the Nifty up 29.05 points at 4591.15.

India’s largest telecom services provider Bharti Airtel was the top gainer from the Sensex pack. It galloped 3.78% to Rs 929.10.Bharti Enterprises, the parent of Bharti Airtel said on Wednesday, 18 July 2007, one of its group companies had bought a 4.99% in the telecom firm from Vodafone. The purchase took Bharti's voting interest in Bharti Airtel to more than 50%.

India's second-largest mobile services firm Reliance Communications (RCom) rose 0.40% to Rs 581.55. The company has sold a 5% stake in its telecom tower business, valued at Rs 27000 crore, Chairman Anil Ambani said on Thursday, 19 July 2007. It has placed the 5% stake with a handful of leading investors in the United States, Europe and Asia, for Rs 1400 crore.RCom is also evaluating a possible initial public offering or strategic equity placements for the tower business, Ambani said.

India's largest private sector company Reliance Industries (RIL) was down 0.30% to Rs 1,891.Satyam Computer Services slipped 2.20% to Rs 476, and was the top loser from Sensex pack. It posted a fall in net profit on sequential basis to Rs 389.14 crore for the quarter ended June 2007 as compared to Rs 397.50 crore for the quarter ended March 2007. Total income increased to Rs 1820.93 crore for the quarter ended June 2007 as compared to Rs 1709.03 crore for the quarter ended March 2007. The results were announced during premarket hours today.

Bajaj Auto (down 1.3% to Rs 2353), ACC (down 1.75% to Rs 1130), and Hindustan Unilever (down 1.74% to Rs 194.40), were the other losers.

Fantastic close for the markets

It was a fantastic close for the market despite weak Asian cues rather mixed. Sensex and Nifty ended on an all time high with huge volume. Heavies like Reliance, Infosys, L&T contributed to the bull run. Reliance was up 4% contibuting 100 points rally to the Sensex and Infosys was up 2.5% contributing 35 points.

Sensex closed up 248.96 points or 1.63% at 15550.13, and the Nifty up 62.55 points or 1.39% at 4562.1.The BSE 30-share Sensex touched an all time high of 15,593.31.While the S&P CNX Nifty also touched an all-time high of 4,573.Reliance, Bharti and Reliance Communication ended on new high.

Shares from the auto pack dominated the list of gainers,on easing worries of interest-rate hike.Tata Motors, India's top auto maker by sales, jumped 6.31% to Rs 790 on reports it is evaluating a bid to buy luxury British car brands Jaguar and Land Rover from struggling US car maker Ford. India's second largest two-wheeler maker Bajaj Auto surged 5.06% to Rs 2,398 after a domestic brokerage initiated as 'outperformer' rating with target price of Rs 2,725.

India's largest private sector company Reliance Industries (RIL) extended gains to strike a fresh an all- time of Rs 1,925. The index heavyweight galloped 4.34% to Rs 1,899.Grasim surged 3.94% to Rs 3,010 after striking an all-time high of Rs 3,024.80 in early trade.Other cement stocks JK Lakshmi Cement (up 4.30% to Rs 143.10) and UltraTech Cement Company (up 1.35% to Rs 969.90) also edged higher.

ACC, the second largest cement company according to market captialisation, saw high volatility today on the eve of its results. The stock slipped sharply to a low of Rs 1119, after the company said its net profit fell 13.5% to Rs 351 crore in Q1 June 2007 over Q1 June 2006. However, it rallied sharply from the low to strike a high of Rs 1160 in late trade. It settled with a 2.29% gain at Rs 1159.

South-east Asia's largest engineering and construction firm Larsen & Toubro rose 2.25% to Rs 2,382 after it posted a 139.83% spurt in net profit to Rs 376.85 crore in Q1 June 2007 over Q1 June 2006. Sales moved up 29.57% to Rs 4,505.21 crore.

Telecom pivotals advanced on renewed buying. India's second-largest mobile services firm Reliance Communications advanced 3.14% to Rs 585, after striking an all-time high of Rs 586.90. The company has sold a 5% stake in its telecom tower business, valued at Rs 27000 crore, Chairman Anil Ambani said on Thursday. The company has placed the 5% stake with a handful of leading investors in the United States, Europe and Asia, for Rs 1400 crore.The company is also evaluating a possible initial public offering or strategic equity placements for the tower business, Ambani said.

Top cellular services provider Bharti Airtel gained 1.97% to Rs 900.50, after striking an all-time high of Rs 902. Bharti Enterprises, the parent of Bharti Airtel said on Wednesday, 18 July 2007, one of its group companies had bought a 4.99% in the telecom firm from Vodafone. The purchase took Bharti's voting interest in Bharti Airtel to more than 50%.

IT stocks advanced on momentum buying in anticipation of global merger & acquisition (M&A) activity. The second-largest IT services provider Infosys Technologies surged 2.46% to Rs 1,995 on market talks that it is close to acquiring the finance and accounting BPO arm of Philips Global.

Wipro, too, recovered from a low of Rs 494, and was up 0.19% to Rs 505.40. The company posted before market hours today, 19 July 2007, a lower-than-expected 16% rise in net profit to Rs 710 crore in Q1 June 2007 over Q1 June 2006.India's largest IT service provider TCS rose 0.56% to Rs 1,174, while Satyam Computers, the fourth largest, was up 1.2% to Rs 487.40

Reliance Energy lost 0.69% to Rs 684.Cipla (down 0.56% to Rs 205.15), Hindustan Unilever (down 0.33% to Rs 198.30) and Tata Steel (down 0.09% to Rs 682.10) were the other losers from Sensex pack.

Spice Communications, a telecom services provider, settled at Rs 60.65, a premium of 45% over the IPO price of Rs 46. The scrip debuted at Rs 55.75. It touched a high of Rs 67.05 and a low of Rs 48.50 during the day. On BSE, the counter saw huge volume of 11.71 crore shares.

Zee Entertainment Enterprises, the second largest media company by market capitalisation rose 2.57% to Rs 335 on huge volumes of 80.79 lakh shares after three block deals of 23.34 lakh shares each were strcuk in the counter at an average price of Rs 328 per share on BSE in opening trade.

RIL strikes lifetime high in firm market

India's largest private sector company Reliance Industries (RIL) extended gains to strike a fresh an all- time of Rs 1,874. The index heavyweight was now up 2.8% to Rs 1,872, on 5.8 lakh shares. The Bombay High Court on Wednesday, 18 July 2007, refused to stay an interim order barring Reliance Industries (RIL) from selling gas from its KG basin field to any other firm except Anil Ambani's Reliance Natural Resources (RNRL) and state-run NTPC. A division bench of Justices J N Patel and Ahmed Sayed also adjourned by eight weeks the hearing on RIL's appeal against the previous interim order.

The court, however, said the government can go ahead with the process of fixing of gas price as per the contract for the field, without any prejudice to either party.

Markets trading strong

The market advanced in opening trade as buying interest continued after a strong late recovery yesterday, 18 July 2007.The markets are trading firm at the higher levels on the back of buying seen in scrips across sectors.At 11.50 am IST, the Sensex is up 192.78 points at 15493.95, and the Nifty up 47 points at 4546.55.

Cement stocks advanced in the wake of infrastructure boom.Grasim surged 4.14% to Rs 3,010.Other cement stocks ACC (up 1.50% to Rs 1150.10), India Cements (up 1.21% to Rs 232) and UltraTech Cement Company (up 2.10% to Rs 977) also edged higher.

Index heavyweight Reliance Industries (RIL) struck an all- time of Rs 1,859. It was now up 1.70% to Rs 1,851, on 2.08 lakh shares. The Bombay High Court on Wednesday, 18 July 2007, refused to stay an interim order barring Reliance Industries (RIL) from selling gas from its KG basin field to any other firm except Anil Ambani's Reliance Natural Resources (RNRL) and state-run NTPC. A division bench of Justices J N Patel and Ahmed Sayed also adjourned by eight weeks the hearing on RIL's appeal against the previous interim order.The court, however, said the government can go ahead with the process of fixing of gas price as per the contract for the field, without any prejudice to either party.

Wipro was the top loser from Sensex pack, down 0.51% to Rs 503.50, on 1.02 lakh shares. Wipro today, 19 July 2007, posted a lower-than-expected 16% rise in net profit to Rs 710 crore in Q1 June 2007 compared to Rs 614 crore in Q1 June 2006.Wipro added 39 clients in the June 2007 quarter. It has forecast its IT services revenue would rise 32% to $777 million in Q2 September 2007, up from $589 million in Q2 September 2006.

Hindustan Unilever lost 0.41% to Rs 198, while Mahindra & Mahindra declined 0.33% to Rs 802.

Zee Entertainment Enterprises surged 4% to Rs 339.50 on huge volumes of 74.66 lakh shares after three block deals of 23.34 lakh shares each were strcuk in the counter at an average price of Rs 328 per share on BSE in opening trade. It was the top traded counter on BSE with total turnover of Rs 248.02 crore

Markets recover in the late trade

The market which was volatile right from opening bell, saw intense volatility in the last hour of trade, swinging wildly.Markets saw a good turnaround after slipping deep in red in the noon trade and closed flat. The sharp fall triggered by profit booking after recent rally, was reversed by short covering and value buying. Asian and European markets were subdued.

Sensex ended up 11.35 points or 0.07% at 15301.17, and the Nifty up 2.80 points or 0.06% at 4499.55.

Aluminium and copper major Hindalco Industries surged 4.62% to Rs 186.80.Telecom pivotals - Reliance Communications (up 1.62% to Rs 569.90) and Bharti Airtel (up 3.45% to Rs 893.10) saw strong buying interest. Both the firms had reported robust subscriber additions in the month of June 2007.

Two-wheeler major Bajaj Auto advanced 3.24% to Rs 2,291. Recently, there were reports that the company is looking for a big-ticket acquisition in the European motorcycle market, and that bike companies -Ducati Motor Holding of Italy and Triumph Motorcycles of the UK are among the possible targets.

Cement stocks, which were quiet for most part of the day, suddenly firmed up in the last one hour of trade. ACC (up 2.74% to Rs 1141), Grasim (up 2.10% to Rs 2915), and Birla Corporation (up 3.06% to Rs 303.10), gained from the cement pack.

Reliance Energy (REL) slipped 1.35% to Rs 689.15 despite reporting net profit rise of 25.45% to Rs 221.56 crore in Q1 June 2007 as against Rs 176.61 crore in Q1 June 2006. Total income rose 49.62% to 1983.93 crore (Rs 1325.97 crore) during market hours today.

ONGC (down 1.72% to Rs 892), ITC (down 1.57% to Rs 153.25) and Satyam Computers (down 1.38% to Rs 481.55) slipped on profit booking.Reliance Industries (RIL) declined 0.89% to Rs 1,811.10.

Markets trading flat

The market opened slightly higher but immediately slipped into the red as profit booking emerged.The market witnessed volatility in early trade, swinging sharply.

At 12.15 pm IST, the Sensex is down 6.10 points at 15283.73, and the Nifty down 2.00 points at 4494.75.

Reliance Energy (REL) spurted 2.10% to Rs 713.85.The stock rose ahead of its results today. The Anil Ambani controlled REL has set a target to bag at least two ultra mega power projects (UMPPs) of 4,000 mega watt each with an investment outlay of nearly Rs 40,000 crore.

Bajaj Auto (up 1.40% to Rs 2,250), Bhel (up 1.22% to Rs 1643) and HDFC Bank (up 1.53% to Rs 1218), were the other gainers.

Reliance Industries (RIL) was down 0.33% to Rs 1,821.30, on profit booking after hitting an all-time high of Rs 1,849 earlier during the day. The company announced after market hours yesterday, 17 July 2007, that it had hit gas in the first well in the Cauvery deep-water basin off the east coast of India.

Pharma major Dr Reddy’s shed 1.65% to Rs 663.Tata Motors (down 1.31% to Rs 739), and Ambuja Cements (down 1.58% to Rs 135), were the other losers.

Biocon advanced 2.31% to Rs 470.40 following a 63% surge in net profit in Q1 June 2007 to Rs 44.86 crore as against Rs 27.57 crore in Q1 June 2006. Sales moved up 23.78% to Rs 227.4 crore (Rs 183.7 crore). The company announced the result during market hours today, 18 July 2007.

KPIT Cummins Infosystems gained 0.70% to Rs 138.65 after its wholly owned BPO subsidiary KPIT Cummins Global Business announced partnering with Cummins Inc to deliver finance and accounting (F&A) services to Cummins entities worldwide. GBS revenues from this partnership are expected to be $1 million in the first year with a potential to grow into a $15-million BPO business annually in 48-60 months.

KPIT Cummins Infosystems' net profit rose a massive 160.5% to Rs 15.81 crore in Q1 June 2007 as against Rs 6.07 crore in Q1 June 2006. Sales rose 53.4% to Rs 102.61 crore in Q1 June 2007 compared to Rs 66.89 crore in Q1 June 2006. The results were announced on 17 July 2007 after trading hours.

Zee News (up 20% to Rs 59.20), Basant Agro (up 11.90% to Rs 58.75), BF Utilities (up 10% to Rs 2142.85), Plethico Pharma (up 5.97% to Rs 413.90), and Orbit Corporation (up 5.55% to Rs 356.85), surged from small-cap and mid-cap pack.

Markets snaps three day rally

The market saw a complete trend reversal in today’s (17 July 2007) trading session. After remaining firm till early-afternoon trade, the market turned volatile later and started declining on profit booking at higher level. Weakness in European stocks weighed on the domestic bourses.

The BSE 30-share Sensex lost 21.40 points or 0.14% at 15,289.82.The S&P CNX Nifty also struck an all-time high of 4,550.25 today. It lost 15.40 points or 0.34% at 4,496.75.

The ongoing infrastructure boom continued to boost cement stocks. Cement major Ambuja Cement advanced 3.15% to Rs 137.50.JK Cement (up 0.97% to Rs 156.10), Birla Corporation (up 0.86% to Rs 294), and Madras Cement (up 1.22% to Rs 3540) were the other gaines from the cement pack.

Index heavyweight Reliance Industries (RIL) rallied to an all-time high of Rs 1,834.TCS jumped 2.23% to Rs 1,153.Satyam Computer Services advanced 1.23% to Rs 488 on bagging four major deals in Singapore, Australia and UAE for IT services and outsourcing. Wipro gained 1.25% to Rs 507. However Infosys slipped 0.07% to Rs 1,933.

Auto stocks saw profit booking after a recent rally, as crude oil headed towards $75 per barrel mark. Mahindra & Mahindra (M&M) slumped 2.46% to Rs 801, and was the top loser from the Sensex pack. Tata Motors (down 1.70% to Rs 746.30) and Bajaj Auto (down 1.70% to Rs 2217) were the other losers from the auto sector.

Banking pivotals State Bank of India (down 2.37% to Rs 1,575.25) and HDFC Bank (down 1.55% to Rs 1,196.95) slipped on profit booking.

Zee News jumped 10.75% to Rs 49.95 after reporting a net profit of Rs 6.38 crore on sales of Rs 74.46 crore in Q1 June 2007. Figures for the corresponding period in the previous quarter were not available. Its operating profit stood at Rs. 11.91 crore. During this period, advertisement revenue was Rs 59.24 crore and the subscription revenue was at Rs 13.64 crore. The company had declared the results after market hours, yesterday, 16 July 2007.

Markets buoyant

The market opened on a buoyant note as buying momentum continued for the fourth straight day.At 11.55 am IST, the Sensex is up 126.43 points at 15437.65, and the Nifty up 36.30 points at 4548.45.

Index heavyweight Reliance Industries rallied to an all-time high of Rs 1,812 on reports it had made a gas discovery in the Cauvery basin. The size of the discovery will be known after appraisals. The company, which had acquired the block under the third round of exploration bidding, has sent the discovery notice on the find to the directorate general of hydrocarbons (DGH). It was up 1.78% to Rs 1,808.15.

Software major Tata Consultancy Services (TCS) rose 2.81% to Rs 1,159.65. After market hours on Monday, 16 July 2007, TCS posted a 36% jump in net profit to Rs 1,202.93 crore in the first quarter ended June 2007 compared to Rs 882.66 crore in Q1 June 2006. Total income rose 27% at Rs 5,364.67 crore (Rs 4,225.62 crore). Growth in revenues and profit was 0.8% and 0.7%, respectively, compared to the fourth quarter ended March 2007. TCS does not make sales and profit forecasts.

Top gainers on the Sensex are Ambuja Cements at Rs 137.20 up 2.93%, TCS at Rs 1,160 up 2.85% and Satyam at Rs 491 up 1.86%.

Top losers on the Sensex are HDFC Bank at Rs 1,201.25 down 1.17%, Bajaj Auto at Rs 2,236 down 0.86% and HDFC at Rs 1,982.50 down 0.61%.

Most active shares on BSE are Indiabulls at Rs 656.50 with 16,58,395 shares, Zee Entertain at Rs 341 with 13,31,130 shares and GMR Infra at Rs 899.70 with 3,96,234 shares.

Markets end in green

The market settled in the green as buying continued in index pivotals for the third straight session. The makret saw volatile movements during the day, swinging between the positive and negative zones. Shares from the banking, real estate, and cement sectors advanced, while IT, FMCG and pharma stocks declined.

The 30-share BSE Sensex gained 31.25 points, or 0.20%, to 15,303.97.The S&P CNX Nifty was up 10.65 points to 4,515.20, as per provisional closing.

Reliance Energy gained 4.85% to Rs 708, on 7.70 lakh shares. The Anil Ambani-controlled Reliance Energy (REL) has set a target to bag at least two ultra mega power projects (UMPPs) of 4,000 MW each with an investment outlay of nearly Rs 40,000 crore. It was the top gainer from the Sensex pack.

State-run banking major State Bank of India (SBI) surged 4.15% to Rs 1,618.50. SBI Mutual Fund on Thursday, 12 July 2007 said it collected Rs 2,536 crore from Infrastructure Fund Series-I, which closed for subscription in June 2007. The scheme got good response from retail investors, and received an overwhelming 6.7 lakh applications during the new fund offer (NFO) period

Auto major Bajaj Auto jumped 4.11% to Rs 2,264 on reports the two-wheeler maker is looking for an acquisition in the European motorcycle market. As per reports, ace bike makers Ducati Motor Holding of Italy and Triumph Motorcycles of the UK are among the possible targets for acquisition.

Telecom services provider Reliance Communication moved up 3.44% to Rs 573.80 on reports that it had signed an agreement to acquire US-based Yipes for $300 million. The stock also struck an all-time high of Rs 572.70. Yipes Enterprise Services, Inc, the leading provider of managed, end-to-end gigabit ethernet solutions, is a privately held company backed by top tier investors.

Cement stocks gained on fresh buying. ACC (up 2.30% to Rs 1,121), Ambuja Cements (up 3.65% to Rs 133.60), Birla Corporation (up 1.45% to Rs 295), UltraTech Cement Company (up 3.71% to Rs 963) and Shree Cements (up 9.64% to Rs 1500) edged higher

State-run oil exploration major Oil and Natural Gas Corporation (ONGC) gained 1.60% to Rs 915 on its plans to expand its presence in the power sector by adding about 2,700 MW of gas-based generation capacity, for both captive and commercial use, through three plants. The plant at the company's special economic zone at Dahej in Gujarat is touted to be biggest among the, 1,000-MW gas-based plants.

Index heavyweight Reliance Industries (RIL) was up 0.20% to Rs 1,772.FMCG major Hindustan Unilever slumped 2.66% to Rs 197.25.Pharma shares slipped on profit booking. Cipla (down 1.63% to Rs 207.90), Ranbaxy Laboratories (down 2.05% to Rs 346), and Dr. Reddy’s Laboratories (down 1.17% to Rs 660.50) slipped. A strong rupee impacts the margin of pharma companies.

IT pivotals remained subdued throughout the day. Satyam Computer (down 2.58% to Rs 480.50), Wipro (down 2.46% to Rs 500), TCS (down 0.87% to Rs 1127) and Infosys (down 0.01% to Rs 1940) edged lower. TCS will announce its Q1 June 2007 results after trading hours today, 16 July 2007.

IT stocks slide

The market opened higher as buying momentum continued for pivotals at higher levels.The market was steady in mid-morning trade, as buying continued for index pivotals. Buying was seen in cement stocks while IT stocks saw unwinding.

At 11.58 am IST, the Sensex is up 45.22 points or 0.30% at 15317.94, and the Nifty up 10.60 points or 0.24% at 4515.15.

Cement major ACC was the top gainer from the Sensex pack. It was up 1.96% to Rs 1,117.25.Bajaj Auto (up 1.86% to Rs 2215), Reliance Communications (up 1% to Rs 560.25), and Hindalco Industries (up 1% to Rs 176.10) were the other gainers.

HDFC Bank was the top loser from the Sensex pack. The stock shed 2.25% to Rs 1,208. ITC (down 1.44% to Rs 153.50) and Satyam Computers (down 1.66% to Rs 485) were the other losers

Mid-cap software company Mastek jumped 13.66% to Rs 324 after it acquired insurance-focused IT company in the US. No other details were available. The company announced after the acquisition before market hours today, 16 July 2007.

Reliance Energy advanced 2.51% to Rs 692.20. Anil Ambani controlled Reliance Energy (REL) has set a target to bag at least two ultra mega power projects (UMPPs) of 4,000 mw each with an investment outlay of nearly Rs 40,000 crore.

Markets on a uptrend

The market opened with a bang, tracking strong global markets.Maintaining the morning's strong momentum fuelled by firm global markets, the domestic market reamined firm in late morning trade as buying interest continued at higher level. Shares across the board including small and mid-caps rallied.

The whole of Asia was trading with a gain of almost 1% and even Europe has opened in green. Buying is seen in scrips across sectors. metal, oil & bank, banking and auto stocks are leading the uptrend followed by realty and construction stocks.

At 1:20 pm, Sensex is trading at 15323 up 231 points and Nifty is up 63 points at 4509.

Hindalco surged 5.30% to Rs 173.20.Bhel (up 2.12% to Rs 1676.10), Ambuja Cements (up 1.74% to Rs 128.50), and HDFC Bank (up 1.73% to Rs 1222) were the other gainers.

Reliance Industries was up 0.58% to Rs 1728.85. The government has set up a Group of Ministers (GoM) to look into all aspects - production to pricing - of gas to be produced from newer areas, particularly in the deep sea. The GoM, headed by External Affairs Minister Pranab Mukherjee, would decide on production, utilisation, transportation and pricing of gas.

Cigarette major ITC gained 1.57% to Rs 155.20 on high volumes of 28.10 lakh shares after a block deal of 26.57 lakh shares was struck on the counter at Rs 155.30 per share on BSE by 10:18 IST.

IT stocks stayed under pressure. IT major TCS lost the most among the Sensex pack. It was down 1.57% to Rs 1143.Wipro declined 0.44% to Rs 509.But IT bellwether Infosys was up 0.7% to Rs 1936.55 on renewed speculation it may bid for Capgemini.Maruti Udyog slipped 0.20% to Rs 826.10.

Mkt ends strong: All time high close for Sensex, Nifty

The market started on a strong note and gained strength throughout the trading session as buying continued even at higher levels. All the sectoral indices save one logged gains, with shares from auto, banking, real estate, capital goods and metal sector contributing to the rally, supported by firm global markets. IT pivotals,however, underperformed.

The Sensex closed up 181.42 points or 1.22% at 15,092.04, and the Nifty up 59 points at 4446.

Aluminium and copper major Hindalco Industries galloped 6.94% to Rs 165.70.Other metal shares Tata Steel (up 2.35% to Rs 670.90), JSW Steel (up % to Rs ), Hindustan Zinc (up % to Rs ), Sterlite Industries (up 5.41% to Rs 643), and Sail (up 4.72% to Rs 144.35) edged higher.

Reliance Energy (REL) vaulted 6.50% to Rs 666.50 on its plans to invest Rs 60,000 crore to add 15,000 mega watts (MW) of power over the next five years. Auto shares surged on renewed buying as fears of further interest rate hikes eased. Maruti Udyog (up 2.80% to Rs 828.40), Tata Motors (up 1.09% to Rs 740) and Mahindra & Mahindra (up 3.38% to Rs 807.25) gained.

Motorcycle maker Bajaj Auto advanced 3.30% to Rs 2,199 after the company said its profitability will increase in the second half of the fiscal year as it introduces new models to woo buyers deterred by higher borrowing costs.

The company reported during market hours today, 12 July 2007, a 21% decline in consolidated net profit at Rs 201.15 crore in the first quarter ended June 2007 when compared with Rs 255.77 crore in Q1 June 2006. Consolidated income from operations declined to Rs 2,206.43 crore, from Rs 2,294.28 crore.

State Bank of India advanced 0.76% to Rs 1,554, while private sector banks ICICI Bank (up 1.39% to Rs 967) and HDFC Bank (up 4.49% to Rs 1,202) also advanced.IT pivotals underperformed in a strong market. Infosys (down 0.66% to Rs 1,917), and Satyam Computers (down 0.59% to Rs 478) and Wipro (down 0.02% to Rs 510.15) declined, while TCS rose 1.06% to Rs 1,159.

Markets gain further

The markets opened with decent gap up on the back of strong cues from the global markets. Bulls were in full charge in the opening trade today after yesterdays lacklusture performance.At 11:55 am Sensex is trading at 15080.91 up 170 points. Nifty is up 49.55 points at 4436.70.

Hindustan Unilevcer was the top gainer among the Sensex constituents. The stock was up 3.10% to Rs 208.65 on 1.21 lakh shares. The stock had surged on reports Colgate-Palmolive is interested in all or part of Unilever's consumer-product market and Unilever and Colgate could also go for merger.

Tata Steel (up 1.92% to Rs 668), Cipla (up 1.90% to Rs 215.70) and Ambuja Cements (up 1.60% to Rs 129.85) were the other gainers.

The market will be closely watching the Index of Industrial Production (IIP) data for May 2007, which will be released today, 12 July 2007. IIP hit an eleven-year high of 13.6% in April 2007 against 9.9% in April 2006. The surge in IIP was due to growth in the manufacturing sector.

HUL, BHEL, Bharti Airtel and Reliance Communication are among the major gainers in Sensex. Sensex doesnot have any stock in red today.

Markets end in red

The markets ended in red on account of weak cues from global markets and downgraded FY08 guidance from Infosys.Sensex closed at 14,910 down 99 points, Nifty closed at 4387 down 19 points.

IT pivotals saw intense selling pressure right from the opening bell.IT bellwether Infosys Technologies slumped 4.65% to Rs 1,926.Satyam Computers shed 3.25% to Rs 481, TCS lost 3.10% to Rs 1,151 and Wipro lost 1.97% to Rs 510.50.

Auto stocks edged lower on profit booking. Tata Motors (down 1.97% to Rs 729.90), Mahindra & Mahindra (down 0.81% to Rs 782) and Maruti Udyog (down 0.37% to Rs 810) edged lower.Leading private sector lender ICICI Bank declined 1.10% to Rs 953 and State Bank of India slipped 0.88% to Rs 1537.

Steel maker Tata Steel galloped 4.20% to Rs 660.55.A recent report by a brokerage states that India’s steel consumption will grow 16% annually until 2012, or twice as fast as in the past five years, fueled by demand for construction projects worth $1 trillion. The construction industry, growing 60% a year, will keep steel mills running at near full capacity. The brokerage house expects global steel prices to rise in 2008 and 2009.

Reliance Energy (REL) vaulted 2.10% to Rs 625.50 on its plans to invest Rs 60,000 crore to add 15,000 mega watts (MW) of power over the next five years.Cement major ACC (up 3.32% to Rs 1071.10), UltraTech Cement Company (up 1.60% to Rs 896.55), Birla Corporation (up 4.28% to Rs 286.20) and Grasim (up 2.77% to Rs 2802) edged higher.

Market breadth positive

After tumbling in the opening session, the maket continued with its recovery in early trade on value buying. IT scrips, however, remained weak after IT bellwether Infosys Technologies today, 11 July 2007, cut its FY 2008 EPS and revenue guidance in rupee terms while announcing Q1 June 2007 results.

Sensex is trading at 14970.03 down 39 points and Nifty is trading flat at 4402 down 3.40 points, at 12:35 pm.

Infosys Technologies slipped 3.41% to Rs 1,951.Though trading weak, tther IT pivotals, too, had come off their lows after having slipped sharply in early trades. TCS (down 3.15% to Rs 1,148), Satyam Computers (down 3.13% to Rs 478) and Wipro (down 1.32% to Rs 514) edged lower.

Reliance Energy (REL) vaulted 3.20% to Rs 632.20.It plans to invest Rs 60,000 crore to add 15,000 mega watts (MW) of power over the next five years. This will boost the company’s generation capacity almost 17 times from 941 MW now. The stocks was also boosted by market rumors that promoters may hike stake in REL by 5%, taking it around to 40%.Cement major ACC (up 3% to Rs 1068) and Grasim (up 1.96% to Rs 2780) were the other gainers from the cement pack.

Infosys results for Q1 07

Infosys Technologies had shed almost 4% to Rs 1,943.50 after it cut both EPS and revenue guidance in rupee terms for FY 2008.

The Infosys stock had bounced back from lower levels ahead of the results on the reckoning that the negatives about the Q1 June 2007 results of IT firms had already been priced in. From Rs 1916.55 on 5 July 2007, the scrip had surged 5.3% to Rs 2,019.95 on 10 July 2007. The market was expecting a sequential fall in Infosys’ net profit in Q1 June 2007 due to the rise in rupee, wage hike and visa costs.

Infosys' consolidated net profit as per Indian GAAP declined 5.6% to Rs 1079 crore in Q1 June 2007, from Rs 1,144 crore in Q4 March 2007. The revenue was almost unchanged at Rs 3,773 crore in Q1 June 2007 compared to Rs 3,772 crore in Q4 March 2007.

Operating profit margin declined sharply to 28.7% in Q1 June 2007, from 31.7% in Q4 March 2007.

Infosys has revised upwards its FY 2008 (year ending 31 March 2008) EPS guidance in dollar terms to a growth of 28.4% to 29.7% compared to the earlier guidance of 25.7% to 27.7% growth. It has also slightly raised revenue guidance in dollar terms to 29% to 31% growth,from the earlier guidance of a growth of between 28% to 30%.

It has cut EPS guidance in rupee terms to a growth of 15.6% to 16.8% compared to the earlier guidance of 20% to 22% growth. It has also slashed revenue guidance in rupee terms to 16.9% to 18.3%, from earlier guidance of a growth of 22.6% to 24.6%.

Trend reversal in markets

The market saw a complete trend reversal today. It was firm in first half of the day, but turned weak in the second half as profit booking emerged at higher level. It also turned volatile since mid-afternoon trade. Auto and IT pack saw buying while cement and banking shares were offloaded.

The BSE 30-share Sensex lost 35.85 points or 0.24% at 15,009.88.The S&P CNX Nifty was down 13.35 points or 0.30% at 4,406.05, after striking an all time high of 4434.45.

Auto major Tata Motors surged 3.44% to Rs 740.30 on 5.26 lakh shares, and was the top gainer from Sensex pack. As per reports, the company may plan to unlock value of its profit making subsidiaries through initial public offerings. Tata Motors has around 30 subsidiaries most of them created through demergers of the various divisions that the company once had.Other auto stocks Maruti Udyog (up 2.63% to Rs 815) and Bajaj Auto (up 1.41% to Rs 2135) also edged higher.

IT stocks saw continued buying support. Market men reckon that the under-performance of IT stocks in recent months provides a good buying opportunity due to strong core fundamentals of the sector.Satyam Computers (up 1% to Rs 496.35), Infosys Technologies (up 1.20% to Rs 2,017), TCS (up 1.31% to Rs 1192), edged higher. However Wipro lost 0.62% to Rs 522.

Index heavyweight Reliance Industries was down 0.60% to Rs 1700.80.RNRL galloped to 52-week high of Rs 41.Telecom services provider Bharti Airtel was the top loser from the Sensex pack. The stock shed 1.76% to Rs 868, on 1.95 lakh shares. Reliance Communications shed 1.50% to Rs 544.05

Banking shares came under selling pressure. State Bank of India (down 1.67% to Rs 1545), and ICICI Bank (down 0.91% to Rs 964.45 ), edged lower.HDFC Bank lost 1.59% to Rs 1149.50.Ambuja Cements declined 0.91% to Rs 130.80 while ACC slipped 1.08% to Rs 1035.

Markets trading firm

The market was firm in early trade as buying continued ahead of the Q1 June 2007 earnings season.At 11.55 am IST, the Sensex is up 38.65 points at 15084.38, and the Nifty up 6.80 points at 4425.85.

IT stocks extended recent gains. Satyam Computers was the top gainer among the Sensex constituents. It was up 2.60% to Rs 504.30.IT major Infosys Technoligies rose 1.85% to Rs 2,030, ahead of its results on Wednesday, 11 July 2007.TCS (up 1.33% to Rs 1192.25), and Wipro (up 0.86% to Rs 529.75), also edged higher.

Index heavyweight Reliance Industries was down 0.06% to Rs 1710.State-run power generation company NTPC shed 0.83% to Rs 155.85,it was the top loser from the Sensex pack.Hindustan Unilever (down 0.54% to Rs 194.30), HDFC (down 0.44% to Rs 1915), and ITC (down 0.42% to Rs 155.10) were the other losers.

Sensex closes above 15,000 for first time ever

The market settled with decent gains, as buying continued throughout the day’s trading session. Both the benchmark indices struck record highs. Shares from capital goods, banking and IT sectors were in demand, while those of FMCG saw unwinding.

The BSE 30-share Sensex ended up 70.55 points to close at 15,034.67.It opened higher at 15,018.71 and surged to strike a record high of 15,085.22 by 14:47 IST, on buying interest tracking firm Asian and US bourses. The S&P CNX Nifty ended up 34.55 points to close at 4419.40.It also struck an all time high of 4,427.55 in intra-day trade.

Reliance Energy was the top gainer among the Sensex constituents,it advanced 2.52% to Rs 613.Bhel gained 1.40% to Rs 1,577.70, Engineering and construction major Larsen and Toubro (L&T) advanced 2.26% to Rs 2417.90.Banking shares surged on rumours that the Reserve Bank of India may cut cash reserve ratio (CRR). State Bank of India (up 1.48% to Rs 1573.10), Union Bank of India (up 12.13% to Rs 145.60), HDFC Bank (up 1.55% to Rs 1171.25), Bank of India (up 3.58% to Rs 230.25) and Punjab National Bank (up 3.79% to Rs 544.10), edged higher.

IT stocks were in demand on renewed buying interest ahead of Q1 June 2007 results. A rally in their ADRs on Friday, 6 July 2007, aided gains in IT shares. Infosys Technologies (up 1% to Rs 1,990.90), Wipro (up 0.88% to Rs 524), and TCS (up 1.46% to Rs 1,176) advanced. Infosys declares its Q1 June 2007 results on Wednesday, 11 July 2007. Infosys ADR surged 4.8% to $52.59 and Wipro ADR gained 5% to $16.08 on Friday, 6 July 2007.

Index heavyweight Reliance Industries was lacklustre today. It closed 0.03% lower at Rs 1,710.80.FMCG major Hindustan Unilever lost 3% to Rs 194.ICICI Bank continued to see selling pressure for the second straight day. It lost 1.23% to Rs 969.50.Cipla (down 0.65% to Rs 210.75), Maruti Udyog (down 0.61% to Rs 791), and Grasim (down 0.61% to Rs 2760), were the other losers.

Markets trading firm

The marked was trading firm in mid-morning trade, after striking an all-time high in the opening session. Some profit booking took place at higher levels. IT stocks were in demand ahead of Q1 June 2007 results.

At 12.15 pm IST, the Sensex is up 92.56 points at 15056.58 and the Nifty up 30.95 points 4415.80.

IT stocks were in demand on renewed buying interest ahead of Q1 June 2007 results.The rupee climbed towards a nine-year peak on Monday, 9 July 2007 as traders built positions in the local unit in anticipation of strong foreign investment flows and on positive cues global equities. At 9:45 IST, the partially convertible rupee was at 40.39/40 per dollar, strengthening from Friday's (6 July 2007) 40.46/47, and moving towards a nine-year high of 40.28, hit in late May 2007.

Infosys Technologies (up 1.41% to Rs 1,999), Satyam Computers (up 0.75% to Rs 492.85), Wipro (up 0.66% to Rs 522.90), and TCS (up 0.99% to Rs 1,170.50) advanced. Infosys declares its Q1 June 2007 results on Wednesday, 11 July 2007.

Reliance Energy extended early gains, and was the top gainer among the Sensex constituents. It was up 3.20% to Rs 617 on 1.89 lakh shares. As per reports, the company will build a 100-storied business center in Hyderabad

Bhel (up 2.26% to Rs 1591), ONGC (up 1.80% to Rs 895.10), and HDFC Bank (up 1.39% to Rs 1169.10) were the other gainers.

Markets end firm:Sensex breaches 15K mark

It was a historical day for the markets, with the barometer index BSE Sensex hitting the 15000 level,except for the small hiccup in early trade.The markets outperformed despite negative cues from Asia and Europe. Technology stocks were the top contributors to the rally followed by capital goods and oil & gas stocks.

The benchmark 30-shares BSE Sensex ended up 95.75 points at 14,957.64,while the S&P CNX Nifty also struck an all time high of 4,411 in late-afternoon trade, and settled 29.35 points higher at 4383.30, as per provisional close.

It has taken seven months for the Sensex to move from 14,000 to 15,000. The index had first hit 14,000 on 5 December 2006. In contrast, it had taken just 26 trading sessions for the Sensex to reach the 14,000 level after it had hit the 13,000-mark on 30 October 2006.It took about 17 months for the Sensex to move from the 10,000 level to 15,000. The barometer index had first struck 10,000 mark on 6 February 2006.

IT pivotals dominated gainers, with 4 from the top 5 Sensex gainers being IT stocks. They advanced on fresh buying after the Indian rupee today, Friday, 6 July 2007, turned weak and was quoted at 40.47/48 against the US currency due to suspected intervention by the central bank and dollar buying by oil refinery companies.

Satyam Computers galloped 4.60% to Rs 485.50 on 12.53 lakh shares and was the top gainer from the Sensex pack.Infosys Technologies (up 3% to Rs 1974), TCS (up 4.17% to Rs 1156), and Wipro (up 2.95% to Rs 519), were other gainers from IT sector.

Ambuja Cements (up 1.86% to Rs 131.50), ACC (up 2.28% to Rs 1045), Birla Corporation (up 3.56% to Rs 284) and India Cements (up 3% to Rs 219.80) edged up from the cement sector.Index heavyweight Reliance Industries (RIL) was up 0.27% to Rs 1,712.55.

Markets marginally in green

The market opened lower tracking weak Asian markets, but it recovered from lower levels later, as buying resumed.At 12:05 pm, the Sensex is up 46.26 points at 14908.15 and the Nifty is up 14.80 points at 4368.75.

Telecom stocks gained on renewed buying. Reliance Communications (up 2.20% to Rs 557) and Bharti Airtel (up 1.40% to Rs 865.25) edged higher, on continued buying support.
Ambuja Cements gained 2.10% to Rs 132.ACC (up 1.50% to Rs 1037.15), Grasim (up 0.65% to Rs 2766), UltraTech Cement Company (up1.82% to Rs 916), and India Cements (up 2.69% to Rs 219.25) were the other gainers from the cement sector.

Index heavyweight Reliance Industries (RIL) was up 0.55% to Rs 1,717.50.State bank of India (down 1.01% to Rs 1531.25), Federal Bank (down 1% to Rs 303), and Canara Bank (down 0.93% to Rs 265.50), edged lower.

Wholesale price inflation data for the week ending 23 June 2007 is expected by noon today, 6 July 2007. Annual inflation was 4.03% in the week ending 16 June 2007 - the lowest in 14 months. The fall in inflation has been attributed to decline in prices of certain essential food items and manufactured products and strong base effect.

Markets end flat, off day's low: Auto stocks outperform

The markets ended flat but were off day's low on account of buying support from select auto and capital good stocks.The market settled with nominal losses after swinging sharply during the day. The market opened on a strong note tracking firm global equities, but immediately slipped sharply into the red after striking an all-time high. It later recovering on value buying and on short covering. Auto shares were in demand, while IT pivotals were offloaded.

Sensex was down 18.35 points or 0.12% at 14861.89, and the Nifty down 5.35 points or 0.12% at 4353.95.

Real-estate major DLF settled at Rs 570.05, a premium of 8.57% over the IPO price of Rs 525 per share. The scrip debuted at Rs 582, and had touched a high of Rs 714.25 and a low of Rs 505.60 during the day on BSE.

Private sector banking major ICICI Bank rose 1.80% to Rs 1003,following reports yesterday, 4 July 2007,that the department of industrial policy and promotion has approved ICICI Bank's plan to sell a 24% stake in ICICI Financial Services. ICICI Bank had recently said that its plant to sell stake in ICICI Financial Services to foreign investors was unlikely to get go ahead from the Foreign Investment Promotion Board (FIPB).

Auto stocks extended early gains on hopes that interest rates may soften. Car major Maruti Udyog advanced 1.74% to Rs 805.Tata Motors rose 1.48% to Rs 708.Hero Honda Motors added 0.42% to Rs 688.50.

Index heavyweight Reliance Industries (RIL) recovered from a low of Rs 1,680.50, to settle at Rs 1710.IT stocks remained subdued. IT stocks Infosys Technologies (down 1.11% to Rs 1911.50), TCS (down 0.73% to Rs 1109.10), Satyam Computers (down 1.52% to Rs 464), and Wipro (down 0.95% to Rs 504.10) edged lower.

Markets losing grip

The market opened on a strong note tracking firm global equities. But it pared gains shortly after striking an all-time high.And now Bulls have given up the holding to bears.At 11:40 am, the Sensex is down 104.60 points at 14775.65 and the Nifty down 33.55 points at 4325.75.

Top losere were Ambuja Cements, Bharti Airtel, ABB, BHEL and Ranbaxy Labs whereas gainers were like Larsen, HUL, ICICI Bank, Maruti Udyog and M&M.

Engineering and construction major L&T advanced 2.47% to Rs 2,348. L&T will float five new companies to ensure better corporate governance as well as attracting talent. The companies will operate in L&T’s new business areas of power projects, boilers, turbines, water and shipbuilding.

Car major Maruti Udyog gained 1.74% to Rs 805 as buying continued after it recorded a 24% rise in sales in June 2007 on demand for its Swift hatchback and the new SX4 sedan. Maruti sold 59,917 cars, vans and sport-utility vehicles in India and overseas last month compared with 48,425 a year earlier.Tata Motors was up 0.63% to Rs 702.10, while Bajaj Auto rose 0.23% to Rs 2,115.

Index heavyweight Reliance Industries (RIL) was down 0.05% to Rs 1716.Bike maker Hero Honda Motors was the top loser from the Sensex pack. It shed 1.22% to Rs 677.25 on thin early volumes of 1,413 shares.Ranbaxy (down 1.17% to Rs 363.40), Ambuja Cements (down 1.14% to Rs 128.25) and Bharti Airtel (down 1.10% to Rs 848) were the other losers.

Realty major DLF was hovering at Rs 554.30, a premium of 5.5% over the IPO price of Rs 525. The scrip debuted at Rs 582. Thereafter, it had touched a high of Rs 714.25 and a low of Rs 505.60 so far during the day.

Record closing high for Sensex, Nifty

The market edged higher for the fifth straight trading session today, 4 July 2007, on firm global markets, steady progress of monsoon, and on lower inflation.

Nifty closed at 4,359 up just 2 points, while Sensex shut shop at 14,880 up 73 points.

Cement stocks traded up following reports that cement firms have hiked prices by Rs 3-Rs 5 per 50-kilogram bag across India effective today. Cement major ACC surged 7% to Rs 1004.Ambuja Cements (up 4.50% to Rs 130), Grasim (up 1.45% to Rs 2742), UltraTech Cement Company (up 4.72 % to Rs 926), and India Cements (up 3.51% to Rs 215) were the other gainers from the cement sector.

Private sector banking major ICICI Bank rose 2.46% to Rs 989.95 following reports that the department of industrial policy and promotion has approved ICICI Bank's plan to sell a 24% stake in ICICI Financial Services. ICICI Bank had recently said that its plant to sell stake in ICICI Financial Services to foreign investors was unlikely to get go ahead from the Foreign Investment Promotion Board (FIPB).

Index heavyweight Reliance Industries (RIL) advanced from a low of Rs 1,705.IT pivotals slipped as the rupee hovered near one-month high at 40.55/56 against the US currency in late morning deals on Wednesday, 4 July 2007. Wipro (down 1.30% to Rs 508.50), Infosys (down 0.62% to Rs 1935), and TCS (down 0.95% to Rs 1117.10) edged lower from the IT pack.

Markets trading flat

The market opened on a strong note tracking firm global equities. But is pared gains sharply after striking all-time high.

At 12:10 pm, the Sensex was up 18.81 points at 14825.32. However, the Nifty was down 6.40 points at 4,351.15.Top gainers were HUL, Ambuja Cements, Grasim, Cipla while BHEL, ONGC, TCS and Infosys were losers.

Cement stocks advanced on renewed buying. Ambuja Cements gained 1.37% to Rs 126.10.
Other cement stocks, ACC (up 1.19% to Rs 949.50) and Grasim (up 0.65% to Rs 2720.15) also edged higher.FMCG major Hindustan Unilever rose 1.46% to Rs 197.50 while pharma major Cipla rose 0.35% to Rs 214.50.

Index heavyweight Reliance Industries (RIL) was up 0.56% to Rs 1,715.50 on 1.24 lakh shares. The Committee of Secretaries (CoS), which met on Monday 2 July 2007 to decide on the issue of gas pricing from RIL’s D6 fields in the Krishna-Godavari (K-G) basin, has asked the power and fertiliser ministries to present their views before the committee on 5 July 2007. No decision was taken in the meeting even as the petroleum ministry pitched for a market-determined price of gas produced from NELP blocks.

HDFC Bank was the top loser from the Sensex pack. The stock was down 1.35% to Rs 1135.State Bank of India (down 0.98% to Rs 1567), Maruti Udyog (down 0.78% to Rs 778), and Hindalco (down 0.79% to Rs 156.30) were the other losers.

Vishal Retail was hovering at Rs 749, a huge premium of 177.4% over the IPO price of Rs 270. The scrip touched a high of Rs 809 and low of Rs 423.25 so far during the day. It debuted at Rs 472.50. On BSE, 27.53 lakh shares were traded in the scrip.

Sensex, Nifty strike all time highs

It was an extremely strong session for the markets as they scaled new heights. It was an all time high closing for Sensex, Nifty and CNX Midcap. The cues from Asia and other equity markets were positive. Buying was seen in scrips across sectors.

The BSE 30-share Sensex gained 141.34 points to 14,805.60 while the S&P CNX Nifty rose 43.20 points to 4,356.95.30.

Telecom pivotals advanced on fresh buying, in anticipation that these companies would announce robust subscriber additions for the month of June 2007. Bharti Airtel surged 3.31% to Rs 865.05 and Reliance Communications gained 1.30% to Rs 537.10.

State Bank of India (SBI), the country's largest commercial bank, advanced 3.03% to Rs 1,577.25.Index heavyweight Reliance Industries (RIL) was up 1.26% to Rs 1,705.80.

Reliance Energy (REL) slipped 2.04% to Rs 611.55.ONGC slipped 1.11% to Rs 886.Housing finance major HDFC recovered sharply from its low of Rs 1968, but it still ended 0.53% lower at Rs 2,020.

State Bank Of India Top Gainer

State Bank of India (SBI), the country's largest commercial bank, advanced 2.82% to Rs 1574, and was the top gainer from the Sensex pack. The scrip hit a high of Rs 1580 which is a lifetime high for the counter. 4.71 lakh shares changed hands on the counter on BSE.

As per reports, SBI would soon enter seven new business streams including pension funds to tap emerging opportunities. The bank will float a subsidiary to manage pension funds under the New Pension Scheme (NPS) for government employees. The bank also proposes to launch financial planning and advisory services given the growing affluent class. This would be upgraded to wealth management at a later stage. In addition to the life insurance business, the bank, with its large branch network, is looking into the general insurance business.

Nifty eyeing all time high

The market opened on a strong note, tracking firm global equities. This is the fourth straight day of gains for the market. The sentiment has been lifted by data, on Friday 29 June 2007, showing fall in inflation to a 14-month low.

At 11:55 IST, the BSE 30-share Sensex was up 121.11 points to 14,785.37 while the S&P CNX Nifty was up 36.25 points to 4350.00.

Top gainers are Larsen & Toubro, HDFC Bank, ICICI Bank, SBI, VSNL and Sterlite Industies whereas Reliance Energy, Tata Power, HDFC, Nalco, Hero Honda and Bajaj Auto are losers.

State Bank of India (SBI), the country's largest commercial bank, advanced 2.82% to Rs 1574.HDFC Bank (up 1.23% to Rs 1,160.20), ICICI Bank (up 1.82% to Rs 968) also edged higher.Index heavyweight Reliance Industries (RIL) was up 0.75% to Rs 1,697.

Housing finance major HDFC lost 1.76% to Rs 1995.IT stocks, TCS (down 0.43% to Rs 1129.70), and Infosys (down 0.38% to Rs 1935.30), were the other losers.

Sensex closes at a new high level

The markets opened with bang but profit booking set in at the higher level and the Nifty closed flat and Sensex ended with marginal gains. But it was an all time high close for Sensex. The cues from Asia were not positive and even Europe opened in red. Selling pressure was seen in bank, FMCG, IT, oil & gas and cement stocks.

The BSE 30-share Sensex ended up 24.56 points to 14,675.07,while Nifty closed 4.55 points down at 4314.75.

Top gainers on the Sensex were Maruti Udyog up 4.8%at 773.05, L&T up 2.91% at 2247 and Reliance Comm up 2.88% at 530.

Car major Maruti Udyog surged 4.29% to Rs 774.40.Tata Motors advanced 2.20% to Rs 684.50 while Hero Honda Motors gained 0.05% to Rs 689.20.Pharma shares advanced on renewed buying. Ranbaxy Laboratories (up 3.10% to Rs 365.95), Cipla (up 0.74% to Rs 210) and Dr Reddy’s (up 0.74% to Rs 660.80), edged higher.Ambuja Cements shed 1.97% to Rs 122.10, on 5.54 lakh shares. It was the top loser from the Sensex pack. Grasim slipped 0.57% to Rs 2,622.90.Index heavyweight Reliance Industries slipped 0.83% to Rs 1,686.20, on 6.07 lakh shares. It had hit a high of Rs 1709.80.

IT stocks saw some unwinding as the Indian rupee opened at its highest level in over three weeks on Monday, 2 July 2007, as traders built positions in the local unit on positive cues from high-yielding Asian currencies, and expectations of foreign investment flows. At 9:55 IST, the rupee was at 40.645/655 per dollar, slightly off its opening of 40.60, its strongest start since 6 June 2007. Wipro (down 1.25% to Rs 512), Satyam Computers (down 0.21% to Rs 466), and TCS (down 1.07% to Rs 1136.90), also edged lower.

However Infosys Technologies was up 0.57% to Rs 1940.10, buoyed by rumors that the Indian IT major is mulling a bid to buy Europe’s largest IT services giant, Capgemini. Both Infosys Technologies and Capgemini have denied the takeover rumours.

Markets striking new highs

While Mumbai was submerged by heavy downpour this weekend, the stock market seems to be riding on a deluge of buy orders.

At 11:55 IST, the Sensex is up 76.79 points to 14,727.30 while Nifty is up 21.25 points at 4339.55.

Car major Maruti Udyog surged 5.44% to Rs 782.30, on 96,961 shares, after it said on Monday, 2 July 2007, it had sold 59,917 vehicles in June 2007, up 24% from 48,425 vehicles sold in June 2006. Maruti Udyog sold 56,000 units in the domestic market, up 25.5% from 44,626 units a year earlier. It exported 3,917 units in June, up 3% from 3,799 units last year.Tata Motors (up 1.89% to Rs 682.40) and Hero Honda (up 0.15% to Rs 689.90), also edged higher.

Cement stocks saw profit booking after two straight days of rally. Ambuja Cements shed 1.41% to Rs 122.80 on 1.74 lakh shares. ACC (down 0.40% to Rs 930.15), and Grasim (down 0.49% to Rs 2625), also edged lower.

Index heavyweight Reliance Industries was up 0.10% to Rs 1,701.90 on 1.83 lakh shares.