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
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
Labels: Nifty.Sensex
posted by SY at 12:30 PM
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