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.
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.
Labels: Nifty.Sensex
posted by SY at 12:39 PM
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