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.
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.
Labels: Nifty.Sensex
posted by SY at 4:54 PM
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