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.
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.
Labels: Nifty.Sensex
posted by SY at 12:09 PM
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