eClerx IPO to list Monday,31st December

eClerx IPO Listing date is announced and the company is to list on December, 31st 2007. eClerx IPO Allotment is recently completed and the issue price has been fixed at Rs. 315 and investors can expect the listing around Rs. 375. eClerx Services IPO will be the last IPO to list on the Indian stock exchanges in the year 2007 and hope the listing of eClerx IPO does well.

Market ends higher

The market swayed between gains and losses ahead of expiry of December 2007 derivative contracts.But it ended higher.

The 30-share BSE Sensex rose 24.20 points or 0.12% to 20,216.72.The broader CNX S&P Nifty rose 10.75 points or 0.18% to 6081.50.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries fell 0.47% to Rs 2883.

India’s largest private sector bank by assets ICICI Bank gained 2.10% to Rs 1245. India’s second largest software exporter by sales Infosys Technologies rose 0.75% to Rs 1800.

HDFC Bank rose 2.77% to Rs 1750, Wipro gained 2.48% to Rs 549, ITC rose 1.68% to Rs 203.35, Tata Steel rose 1.47% to Rs 905.90 and Reliance Energy moved up 1.42% to Rs 2142.

Satyam Computers declined 2.02% to Rs 450, Tata Motors fell 2.01% to Rs 797, Bharti Airtel declined 1.28% to Rs 970, Reliance Communications fell 1.62% to Rs 731.10 and Grasim Industries gave away 0.89% to Rs 3585.

Markets trade higher

The market opened higher following gains in index heavyweights ICICI Bank and Reliance Industries. Tata Steel rose for the second consecutive day. Realty, metal and consumer durables stocks were in demand. IT stocks slipped. Asian markets, which opened before Indian markets, were mixed.The market slipped into the red in afternoon trade but recovered from there.

At 2:02 pm, the Sensex was up 78 points at 20270, and the Nifty up 22 points at 6092.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries fell 0.20% to Rs 2890.95.

India’s largest private sector bank by assets ICICI Bank rose 1.20% to Rs 1234.India’s second largest software exporter by sales Infosys Technologies rose 0.08% to Rs 1813.40.

Hindalco Industries moved up 2.53% to Rs 214.70, ITC rose 2.55% to Rs 204.75, Reliance Energy gained 1.95% to Rs 2153.10, ONGC climbed 1.63% to Rs 1256.30 and HDFC Bank flared up 1.36% to Rs 1726.10.

Bajaj Auto declined 2.77% to Rs 2607.70, Bharti Airtel fell 2.47% to Rs 958.25, Reliance Communications gave away 1.45% to Rs 732.25, Grasim Industries shed 1.13% to Rs 3576 and Tata Motors fell 0.94% to Rs 745.

Among the mid-caps, ISMT surged 20% to Rs 134.05, Raymond soared 8.15% to Rs 434, CMC spurted 7.94% to Rs 1,396.55, Castrol India jumped 7.47% to Rs 312.10 and SpiceJet rose 7.43% to Rs 74.50.

Among the small-caps, Sagar Cement surged 20% to Rs 435.90, Kalindee Rail Nirman (Engineers) soared 20% to Rs 517.35, KRBL spurted 20% to Rs 146.80, Hindustan Organic Chemicals jumped 16.67% to Rs 94.50 and Era Infra Engineering climbed 15.07% to Rs 333.20.

Markets end flat amid volatility; IT stocks surge

The markets traded rangebound through out the day amid volatility today and ended on flat note. It was a low participation day as the traders and investors played with caution before the December F&O expiry.

Sensex ended up 70.61 points or 0.37% at 19162.57, and the Nifty closed up 15.35 points or 0.27% at 5766.50.

IT stocks rose. Wipro (up 1.77% to Rs 491.75), Tata Consultancy Services (up 2.34% to Rs 1,045.25), Infosys (up 3.68% to Rs 1,698.35), Satyam Computer Services (up 5.65% to Rs 427.70) edged higher.

FMCG majors declined. ITC (down 1.83% to Rs 196.05), United Spirits (down 2.56% to Rs 1,846), Hindustan Unilever (down 0.28% to Rs 211.450 edged lower.

Capital goods stocks declined. Bharat Heavy Electricals (down 1.27% to Rs 2,370), Larsen & Toubro (down 0.48% to Rs 3,979) and Suzlon Energy (down 3.66% to Rs 1,830) edged lower.

Banking stocks declined. ICICI Bank (down 0.35% to Rs 1,157), HDFC Bank (down 0.18% to Rs 1,654) edged lower. State Bank of India rose 0.31% to Rs 2,265.20.

Consumer durables stocks edged lower. Videocon Industries (down 2.11% to Rs 625.25), Titan Industries (down 1.45% to Rs 1,480) and Rajesh Exports (down 1.92% to Rs 869.15) edged lower.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries was up 0.37% to Rs 2,714.70. The stock came off session's high of Rs 2,754. Reliance Industries (RIL) is reportedly in talks with Tata Chemicals (TCL) for sale of 2.2 million metric standard cubic metres per day (mmscmd) of gas from KG basin once the ongoing dispute with Reliance Natural Resources (RNRL) is resolved.

India's second largest power utility by revenue Reliance Energy rose 3.04% to Rs 1,939.85.

Cipla (down 2.04% to Rs 210.95), ACC (down 2.77% to Rs 1,002.05) and Ranbaxy Laboratories (down 1.65% to Rs 196.40) edged lower.

India's biggest power generation firm by revenue NTPC declined 0.04% to Rs 229.40. The company is reprotedly in active talks with more than one foreign power generation company for acquiring assets in excess of $1 billion (Rs 3,960 crore).

India's biggest commercial vehicle maker in terms of market share, Tata Motors, rose 2.86% to Rs 710.90. The company which is considered a front-runner to buy Ford Motor Co's luxury Jaguar and Land Rover brands, will unveil the world's cheapest car at an auto show in India next month. Tata Motors will showcase its $2,500 car at the Auto Expo in New Delhi on 10 January 2008, with a commercial launch planned for later in 2008.

Tata Steel, the world's sixth largest steel maker, rose 0.07% to Rs 824.80. Vale, the world’s largest producer of iron ore and pellets, is reportedly in talks with Tata Steel to set up a steel slab plant in Brazil. The $20 billion mining company, formerly known as CVRD, has three plants under construction in Brazil in partnership with ThyssenKrupp, Dongkuk and Baosteel. Vale has a minority stake in these projects.

Markets stable with good gains

After a firm start the market soon pared gains in volatile trade. IT and power stocks gained.The markets were trading stable with modest gains for some time. IT, realty and auto stocks continue trade strong, but the capital goods, FMCG, durable and power stocks were still subdued.

At 12.15 hrs IST, the Sensex is up 134.26 points or 0.70% at 19226.22, and the Nifty up 26.45 points or 0.46% at 5777.60.

Capital goods stocks declined. Bharat Heavy Electricals (down 0.89% to Rs 2,378.90), Larsen & Toubro (down 0.67% to Rs 3,971.70) and Suzlon Energy (down 4.19% to Rs 1,820) edged lower.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries rose 1.27% to Rs 2,739. Reliance Industries (RIL) is reportedly in talks with Tata Chemicals (TCL) for sale of 2.2 million metric standard cubic metres per day (mmscmd) of gas from KG basin once the ongoing dispute with Reliance Natural Resources (RNRL) is resolved.

IT stocks rose. Wipro (up 1.29% to Rs 489.45), Tata Consultancy Services (up 1.73% to Rs 1,039), Infosys (up 3.35% to Rs 1,693), Satyam Computer Services (up 4.07% to Rs 420.50) edged higher.

Realty stocks gained. Phoenix Mills (up 11.05% to Rs 2,598), Housing Development Infrastructure (up 2.48% to Rs 974.70), DLF (up 2.32% to Rs 973.50), Unitech (up 0.3%to Rs 460.55) edged higher. Indiabulls Real Estate (down 0.98% to Rs 669) edged lower.

India's second largest power utility by revenue Reliance Energy rose 3.84% to Rs 1,954.90.

HDFC Bank (down 0.66% to Rs 1,646), Cipla (down 1.32% to Rs 212.50), ICICI Bank (down 0.35% to Rs 1,157) and Ranbaxy Laboratories (down 0.49% to Rs 410.05) edged lower.

India's biggest power generation firm by revenue NTPC rose 0.35% to Rs 230.10. The company is reprotedly in active talks with more than one foreign power generation company for acquiring assets in excess of $1 billion (Rs 3,960 crore).

Auto stocks rose. Mahindra & Mahindra (up 2.93% to Rs 800.10), Maruti Suzuki India (up 0.57% to Rs 1,001), Bajaj Auto (up 0.07% to Rs 2,778.65) edged higher . Hero Honda Motors (down 0.39% to Rs 700) edged lower.

India's biggest commercial vehicle maker in terms of market share, Tata Motors, rose 2.51% to Rs 708.45. The company which is considered a front-runner to buy Ford Motor Co's luxury Jaguar and Land Rover brands, will unveil the world's cheapest car at an auto show in India next month. Tata Motors will showcase its $2,500 car at the Auto Expo in New Delhi on 10 January 2008, with a commercial launch planned for later in 2008.

Tata Steel, the world's sixth largest steel maker, rose 0.42% to Rs 827.65. Vale, the world’s largest producer of iron ore and pellets, is reportedly in talks with Tata Steel to set up a steel slab plant in Brazil. The $20 billion mining company, formerly known as CVRD, has three plants under construction in Brazil in partnership with ThyssenKrupp, Dongkuk and Baosteel. Vale has a minority stake in these projects.

Nagarjuna Construction Company rose 3.11% to Rs 320.05 after securing two new orders aggregating Rs 307 crore.

Markets end in green in choppy trade

The market staged a strong comeback in late trade. It had weakened in mid-afternoon trade in what was a choppy trading session.

The 30-share BSE Sensex rose 12.32 points or 0.06% to 19,091.96.The broader CNX S&P Nifty gained 8.85 points or 0.15% to 5,751.15.

Reliance Industries declined 0.8% to Rs 2,707. The stock came off session's high of Rs 2,780.

Reliance Energy (REL) rose 5.52% to Rs 1,907.80. The company is reportedly planning to foray into Africa. It is believed to be in talks with the governments of Botswana, Tanzania and Zambia for setting up generation capacities of over 1,000 megawatt (MW). The company’s African Safari will be followed by a bid for a 1,200 MW greenfield project at Yanbu in Saudi Arabia, the reports added.

Metal stocks were mixed. Tata Steel (up 0.96% to Rs 824.20), National Aluminium company (up 3.22% to Rs 428.50) edged higher. Steel Authority of India (down 0.56% to Rs 258.30) and Hindalco Industries (down 0.68% to Rs 198.35) edged lower.

Consumer Durable stocks rose. Titan Industries (up 2.56% to Rs 1,497.05), Videocon Industries (up 4.29% to Rs 646), edged higher.

Gitanjali Gems rose 3.13% to Rs 418.50. The company announced during the market hours today that Gitanjali Lifestyle (GLL), a wholly subsidiary of the company is signing a memorandum of understanding (MoU) with Mariella Burani Fashion Group (MBFG) of Italy to form a joint venture in India by way of incorporation of a new company. The objective of the proposed joint venture is to significantly drive growth of MBFG's brands in emerging markets.

Auto stocks declined. Tata motors (down 1.59% to Rs 691.10), Bajaj Auto (down 0.68% to Rs 2,776.80) and Maruti Suzuki India (down 2.39% to Rs 995.30) edged lower.

Mahindra & Mahindra (up 0.86% to Rs 777.30), Hero Honda Motors (up 0.29% to Rs 704) edged higher.

ONGC (up 2.65% to Rs 1,180.50), ICICI Bank (up 1.79% to Rs 1,161.05) and Infosys (up 1.09% to Rs 1,638.10) edged higher.

HDFC (down 1.75% to Rs 2,763), Grasim Industries (down 1.68% to Rs 3,575.20), State Bank of India (down 1.97 % to Rs 2,258.30) and ACC (down 3.4% to 1,030.65) edged lower.

Larsen & Toubro rose 0.77% to Rs 3,998.25 after the company said it had received a contract worth Rs 287 crore to build an elevated road to Mumbai International Airport.

Markets off days high

The market opened on a firm note and edged higher taking cue from firm Asian equities.It had come sharply off higher level from an early surge.Currently the markets have given up most of its gains and were trading flat on account of heavy profit booking witnessed in the oil & gas, power, cap goods, realty and banking stocks.

At 13.12 hrs IST, the Sensex is up 44.90 points or 0.24% at 19124.54, and the Nifty up 20.15 points or 0.35% at 5762.45.

Reliance Industries was flat at Rs 2,729.85. The stock came off session's high of Rs 2,780.

Reliance Energy (REL) rose 3.16% to Rs 1,85.15. The stock came off session's high of Rs 1,904.90. The company is reportedly planning to foray into Africa. It is believed to be in talks with the governments of Botswana, Tanzania and Zambia for setting up generation capacities of over 1,000 megawatt (MW). The company’s African Safari will be followed by a bid for a 1,200 MW greenfield project at Yanbu in Saudi Arabia, the reports added.

Sugar stocks galloped. Bajaj Hindustan (up 9.76% to Rs 284), Balrampur Chini Mills (up 8.71% to Rs 110.50), Dhampur Sugar (up 10.72% to Rs 94) and Shree Renuka Sugars (up 3.38% to Rs 974.80) edged higher.

IT stocks were mixed. Infosys (up 1.14% to Rs 1,638.95), Tata Consultancy Services (up 0.86% to Rs 1,020) edged higher. Satyam Computer Services (down 0.12% to Rs 404.45), Wipro (down 0.94% to Rs 479.10) edged lower.

Metal stocks rose. Tata Steel (up 1.61% to Rs 829.50), National Aluminium company (up 2.22% to Rs 423.95) ,Sterlite Industries (up 0.31% to Rs 962), Steel Authority of India (up 0.6% to Rs 261.40) edged higher. Hindalco Industries declined 1.3% to Rs 197.10.

Consumer Durable stocks rose. Rajesh Exports (up 1.48% to Rs 911), Titan Industries (up 2.85% to Rs 1,501.25), Videocon Industries (up 4.32% to Rs 646.15), edged higher.

Gitanjali Gems rose 1.7% to Rs 415.55. The company announced during the market hours today that Gitanjali Lifestyle (GLL), a wholly subsidiary of the company is signing a memorandum of understanding (MoU) with Mariella Burani Fashion Group (MBFG) of Italy to form a joint venture in India by way of incorporation of a new company. The objective of the proposed joint venture is to significantly drive growth of MBFG's brands in emerging markets.

Mahindra & Mahindra (up 4.46% to Rs 805.05), ONGC (up 2.87% to Rs 1,182.95), ICICI Bank (up 2.01% to Rs 1,163.60) edged higher.

HDFC (down 3.46% to Rs 2,715), Grasim Industries (down 1.27% to Rs 3,590), Maruti Suzuki India (down 2.52% to Rs 994), State Bank of India (down 1.03 % to Rs 2,280) and ACC (down 0.82% to 479.90) edged lower.

Larsen & Toubro rose 0.81% to Rs 3,995.95 after the company said it had received a contract worth Rs 287 crore to build an elevated road to Mumbai International Airport.

Mkts end in deep red; metal, bank stocks drag

The markets opened on weak note toady and proceeded to trade weak for most part of the the day amid sharp volatility and ended with deep cut.

Sensex closed down 181.71 points or 0.94% at 19079.64, and the Nifty ended with a cut of 34.70 points or 0.60% at 5742.30.

Reliance Industries declined 1.49% to Rs 2,736. As per reports, Reliance Industries (RIL) has paid advance tax of Rs 1045 crore in the third quarter ended 15 December 2007 compared to Rs 440 crore in the corresponding quarter of the previous year.

Reliance Communications (RCom) was flat at Rs 714.40. As per reports it will invest Rs 800 crore to roll out a telecom network — fixed and mobile — in Uganda, a country in Eastern Africa. The company has bagged a licence to be the African nation’s sixth telecom operator. The company plans to launch services in Uganda by Q3 in 2008, the report added.

FMCG majors rose. ITC (up 2.22% to Rs 197.85) and Tata Tea (up 1.28% to Rs 880.60) edged higher. Hindustan Unilever (down 3.39% to 211.20) edged lower.

Consumer durables stocks rose. Videocon industries (up 0.53% to Rs 619.40), Lloyd Electric (up 1.19% to Rs 174) and Titan Industries (up 4.99% to Rs 1,459.65) edged higher.

Healthcare stocks rose. Sun Pharmaceuticals (up 4.03% to Rs 1,137.95), Cipla (up 3.78% to Rs 215.75), Dr. Reddy’s Laboratories (up 0.09% to Rs 717.45), Ranbaxy Laboratories (up 1.05% to Rs 410), edged higher.

Metal stocks declined.Tata Steel (down 0.91% to Rs 816.35),Sterlite Industries (down 1.76% to Rs 959), Steel Authority of India was flat at Rs 259.75, Hinalco Industries (down 0.47% to Rs 199.70) edged lower.

Capital goods stocks declined. Bharat Heavy Electricals (down 1.24% to Rs 2,395.10) and Larsen & Toubro (down 2.8% to Rs 3,967.80) edged lower. Suzlon Energy (up 1.84% to Rs 1,861.80) edged higher.

Banking stocks declined. ICICI Bank (down 2.27% to Rs 1,140.65), and HDFC Bank (down 1.28% to Rs 1,685) edged lower.

State Bank of India declined 0.47% to Rs 2,303.70. State Bank of India (SBI) shelled out Rs 1090 crore, up 26.7% over the tax it paid in the corresponding period in the previous year.

Maruti Suzuki India (up 0.93% to Rs 1,019.65) and NTPC (up 1.66% to Rs 232.40) edged higher.HDFC (down 2.27% to Rs 2,812.30) edged lower.

Markets remain choppy

After a positive start, the market soon slipped into the red. It came off lower level later. The market breadth was weak. FMCG and realty stocks gained. Banking stocks declined. Reliance Industries edged lower.The markets have slipped further and were trading weak on the back of heavy selling coming in across the sectors led by metal, power, realty and banking stocks. Midcaps and smallcaps were underperforming toay.

At 12.20 pm, the Sensex is down 206.02 points or 1.07% at 19055.33, and the Nifty down 37.85 points or 0.66% at 5739.15.

Power stocks declined. Reliance Energy (down 2.02% to Rs 1,792.05), Neyveli Lignite (down 2.9% to Rs 225.75) and Tata Power Company (down 2.92% to Rs 1,258) edged lower. However, NTPC rose 1.31% to Rs 231.60.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries declined 0.77% to Rs 2,756. As per reports, Reliance Industries (RIL) has paid advance tax of Rs 1045 crore in the third quarter ended 15 December 2007 compared to Rs 440 crore in the corresponding quarter of the previous year.

Reliance Communications (RCom) was down 0.25% to Rs 716. As per reports it will invest Rs 800 crore to roll out a telecom network — fixed and mobile — in Uganda, a country in Eastern Africa. The company has bagged a licence to be the African nation’s sixth telecom operator. The company plans to launch services in Uganda by Q3 in 2008, the report added.

Metal stocks declined. Jindal Steel & Power (down 5.24% to Rs 13,612), Shree Precoated Steel (down 4% to Rs 352), Sterlite Industries (down 2.06% to Rs 956), Hindalco Industries (down 1.57% to Rs 197.50) edged lower. Tata Steel (up 0.86% to Rs 830.95), National Aluminium Company (up 0.59% to Rs 420.95) and Steel Authority of India (up 0.71% to Rs 261.60) edged higher.

FMCG majors rose. ITC (up 0.93% to Rs 195.35), Hindustan Unilever (up 0.18% to 219), and Tata Tea (up 0.64% to Rs 875) edged higher.

Realty stocks declined. Unitech (down 2.78% to Rs 452.40), Indiabulls Real Estate (down 1.8% to Rs 667) edged lower. DLF (up 1.3% to Rs 955) edged higher.Housing Development and Infrastructure (HDIL) declined 3.17% to Rs 936. It has reportedly decided to enter the entertainment sector under the brand name Broadway. HDIL will invest close to Rs 1,000 crore to fund its organic as well as inorganic expansion in the country’s multiplex market, the reports added.

Capital goods stocks declined. Bharat Heavy Electricals (down 2.28% to Rs 2,370), Larsen & Toubro (down 3.11% to Rs 3,954.70) edged lower Suzlon Energy (up 0.65% to Rs 1,840) edged higher.

Banking stocks declined. ICICI Bank (down 1.15% to Rs 1,153.65) and HDFC Bank (down 1.86% to Rs 1,647) edged lower.State Bank of India declined 0.45% to Rs 2,304. State Bank of India (SBI) shelled out Rs 1090 crore, up 26.7% over the tax it paid in the corresponding period in the previous year.HDFC, India's biggest dedicated housing finance firm by revenue, lost 2.35% to Rs 2,810.

Maruti Suzuki India (up 1.33% to Rs 1,023.70) and Bharti Airtel (up 1.24% to Rs 916) edged higher.Diamond Cables rose 3.66% to Rs 453.75 after it said that it is in receipt of large order to supply 956 power transformers for export to one of the leading power utilities in Africa.

Markets plunge; highest single day fall for Nifty

The markets after opening on weak note today in line with global peers proceeded to trade weak for the whole day and succumbed to heavy profit booking in late trade and finally ended in deep red. Heavy selling was witnessed in the metal, realty, power and oil & gas stocks.

Sensex witnessed second highest single day fall today and ended down 769.48 points or 3.84% at 19261.35, and the for the Nifty, it was biggest ever single day fall and it was down 270.70 points or 4.48% at 5777.

Reliance Industries declined 4.02% to Rs 2,773.

Metal stocks slumped. Tata Steel (down 6.83% to Rs 823.85), Sterlite Industries (down 8.45% to Rs 976.15), National Aluminium Company (down 6.87% to Rs 418.50) and Hindalco industries (down 5.69% to Rs 200.65) edged lower.

Steel Authority of India fell 7.2% to Rs 259.75 on reports the company plans to enter the equipment manufacturing business to profit from the boom in the domestic steel sector.

Reliance Communications declined 5.15% to Rs 720.80 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give the company access to a Rs 4,00,000 crore global enterprise data market.

Capital goods stocks declined. Bharat Heavy Electricals declined 5.32% to Rs 2,425.25. It announced during the market hours today that it has signed a joint venture agreement between with NTPC for establishment and operation of joint venture company for engineering, procurement and construction (EPC) business.

Larsen & Toubro (down 2.2% to Rs 4,082.10) and Suzlon Energy (down 6.67% to Rs 1,828.10) edged lower.

Tata Motors declined 5.8% to Rs 701.25 on reports that Ford Motor Company is poised to name the company as preferred bidder for its Jaguar and Land Rover brands.

Banking stocks declined. ICICI Bank (down 3.29% to Rs 1,167.10), HDFC Bank (down 2.91% to Rs 1,678.30) edged lower.State Bank of India fell 3.98% to Rs 2,314.50 on reports the bank is planning to buy an Indonesian bank.

Power stocks declined. Reliance Energy (down 4.22% to Rs 1,828.95), NTPC (down 7.3% to Rs 228.60), Tata Power Company (down 0.39% to Rs 1,295.90) and Power Grid corporation (down 5.56% to Rs 137.55) edged lower.

Realty stocks declined. Peninsula Land (down 8.5% to Rs 135.05) , DLF (down 7.53% to Rs 944.25), Indiabulls Real Estate (down 8.26% to Rs 679.25) and Unitech (down 2.72% to Rs 465.35) edged lower.

Hindusta Unilever (up 0.76% to Rs 218.60) edged higher.HDFC (down 5.93% to Rs 2,877.55), ONGC (down 5.84% to Rs 1,166.45) edged lower.

Markets slump

The market slumped in early trade with barometer index BSE Sensex falling below 20,000 mark on weak global markets. The S&P CNX Nifty fell below 6,000. Capital goods and power stocks declined. FMCG stocks edged higher. Reliance Industries declined. Market breadth was strong. Asian markets which opens before Indian markets were trading lower today. US stocks slumped on Friday, 14 December 2007, on concerns that surging inflation may prevent the Federal Reserve from lowering interest rates.The market continued its downward journey in afternoon trade.

At 13.45 pm, the Sensex is down 352.70 points or 1.76% at 19678.13, and the Nifty down 155.55 points or 2.57% at 5892.15.

Reliance Industries declined 1.77% to Rs 2,838.Reliance Communications declined 1.88% to Rs 745.65 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give the company access to a Rs 4,00,000 crore global enterprise data market.

Metal stocks slumped. Tata Steel (down 1.26% to Rs 866.75), Sterlite Industries (down 3.97% to Rs 1,024), National Aluminium Company (down 3.2% to Rs 434.95), Steel Authority of India (down 2.38% to Rs 273.25) and Hindalco industries (down 3.69% to Rs 204.90) edged lower.

Banking stocks declined. ICICI Bank (down 1.06% to Rs 1,194), HDFC Bank (down 3.71% to Rs 1,664.50) and State Bank of India (down 2.01% to Rs 2,362.15) edged lower.

Power stocks declined. Reliance Energy (down 1.23% to Rs 1,886), NTPC (down 2.78% to Rs 239.75), Tata Power Company (down 0.07% to Rs 1,298.20) and Power Grid corporation (down 2.71% to Rs 141.70) edged lower.

FMCG majors rose. ITC (up 1.62% to Rs 203.85) and Hindustan Unilever (up 0.92% to 219) edged higher.

Realty stocks declined. Peninsula Land (down 5.49% to Rs 139.50) , DLF (down 1.49% to Rs 1,005.90), Indiabulls Real Estate (down 6.95% to Rs 688.95) and Unitech (down 1.82% to Rs 469.65) edged lower.

Cipla (up 1.84% to Rs 213), Infosys (up 0.23% to Rs 1,651.65), Ambuja Cements (up 0.54% to Rs 150.25) edged higher.

Bharti Airtel (down 4.57% to Rs 909), ONGC (down 4.59% to Rs 1,182) and Tata Motors (down 3.46% to Rs 718.70) edged lower.

Petron Engineering Construction rose 6.86% to Rs 402 after it received two construction orders for power plant units, totally worth Rs 98.90 crore.

Phoenix Lamps rose 6.66% to Rs 213.05 on reports the firm is close to striking multiple buyout deals in India and aboard and one of the targets is belived to be the lighting business fo Surya Roshni

Real estate firm Phoenix Mills rose 0.66% to Rs 2,587.65 after it said on Friday its board would meet on 19 December 2007 to consider stock split.

Asian markets were trading lower today, 14 December 2007. Hong Kong's Hang Seng (down 3.57% at 26,580.38), Taiwan's Taiwan Weighted (down 3.54% at 7,830.85), Singapore's Straits Times (down 2.43% at 3,382.29), Shanghai Composite (down 2.53% to 4,881.40), Japan's Nikkei (down 1.71% to 15,249.79), South Korea's Seoul Composite (down 2.91% at 1,839.82) declined.

Markets choppy

The market recovered to post decent gains after an initial slump. However it saw spells of volatile movements.The market remained rangebound in early after noon trade, after seeing volatile swings in early trade.The markets have gained some points and were trading in green on the back of some buying witnessed in the realty, pharma, metal, consumer durables and FMCG stocks. IT, auto, capital goods and banking stocks were still under pressure.

At 12.40 pm, the Sensex is up 41.10 points or 0.20% at 20145.49, and the Nifty up 15.60 points or 0.26% at 6073.70.

Realty stocks rose. Housing Development & Infrastructure (up 6.8% to Rs 1,025),Anant Raj Industries (up 4.43% to Rs 363), Indiabulls Real Estate (up 0.88% to Rs 747.05), Unitech (up 0.55 to Rs 480) and DLF (up 0.22% to Rs 1,024.85) edged higher.

Reliance Industries rose 0.22% to Rs 2,839. Oil refining major is reportedly exploring ways to sell its petroleum products directly in the US and Europe. At present, the company sells its petroleum products through traders. Mulls setting up retail outlets in US.

Healthcare stocks rose. Fortis Healthcare (up 7.88% to Rs 93.80), Wockardt (up 4.32% to Rs 425.35), Cipla (up 1.65 to Rs 207), Dr. Reddy’s Laboratories (up 0.99% to Rs 717.65), Ranbaxy Laboratories (up 0.81% to Rs 414.50) edged higher.

Capital goods stocks declined. Bharat Heavy Electricals (down 1.02% to Rs 2,565), Larsen & Toubro (down 1.04% to Rs 4,191) and Bharat Earth Movers (down 1.71% to Rs 1,690) edged higher.

FMCG majors rose. Marico Industries (up 3.24% to Rs 71.95),ITC (up 3.1% to Rs 203.10) and Hindustan Unilever (up 1.18% to 214.50) edged lower.

Consumer durable stocks rose. Videocon industries (up 7.61% to Rs 654.05), Rajesh Exports (up 1.83% to Rs 956.95) and Gitanjali Gems (up 3.15% to Rs 411) edged higher,.

Hindalco Industries (up 1.82% to Rs 212.70), Tata Steel (up 1.32% to Rs 901.10) edged higher.

Mahindra & Mahindra (down 1.34% to Rs 783.45), Satyam Computer Services (down 1.69% to Rs 413.95),Tata Motors (down 1.56% to Rs 748) and Bharti Airtel (down 1.99% to Rs 968.15) edged lower.

Sun TV Network rose 2.06% to Rs 414 after a block deal of 11 million shares, or 2.8 % of its equity, at Rs 408.50 each on the BSE.

Videocon Industries rose 7.28% to Rs 652.05. According to reports, Videocon Industries plans to spin off its energy business, including coal fields in Indonesia and oil and gas blocks in Brazil, into a separate company called Videocon Natural Resources, and retain a substantial stake in the new firm.

IVR Prime Urban Developers rose 2.82% to Rs 504.60. It announced that the it has received investment commitments of around Rs 250 crore from Kotak India Realty Fund for its multi use integrated development realty projects.

Maharashtra Seamless rose 3.18% to Rs 45.40. It has announced that the it has been awarded export orders worth $ 40 million from USA & Latin America. These supplies would support the drilling programmes of Oil & Gas majors in the above region.

Atlanta rose 8.51% to Rs 339.10. It announced that Shreenath Builders, partnership firm in which the company is having a stake of 51% has purchased a property named Olympic Cinema admeasuring 6988.89 sq. yards situated at Jodhpur, Rajasthan from Adeshwar & Company at a purchase consideration of Rs 48.6 crore with the object to construct a commercial mall at the said property naming "Atlanta V Mall".

Markets lacklustre

The market opened on a firm note following a solid intra-day recovery yesterday, 12 December 2007. Both the niche indices struck lifetime highs. The BSE Sensex hit an all time high just under 20,500 mark while the S&P CNX Nifty struck record high under 6,200 level. However they easeda bit from higher levels, on profit booking.The frontline indices are trading flat due to lack of triggers.

At 12.06 hrs IST, the Sensex is down 22.50 points or 0.11% at 20353.37, and the Nifty down 29.85 points or 0.48% at 6129.45.

Reliance Industries rose 0.1% to Rs 2,889.80.Healthcare stocks rose. Cadila HealthCare (up 6.15% to Rs 321), Dr. Reddy’s Laboratories (up 3.53% to Rs 710), Cipla (up 1.75% to Rs 203.05), Ranbaxy Laboratories (up 1.55% to Rs 414) edged higher.

IT stocks declined. Infosys (down 0.82% to Rs 1,670.95), Satyam Computer Services (down 1.26% to Rs 425.70) and Wipro (down 1.1% to Rs 500) edged lower. However Tata Consultancy Services rose 0.88% to Rs 1,058.25.

Banking majors declined. ICICI Bank (down 1.73% to Rs 1,268) and HDFC Bank (down 1.29% to Rs 1,761.05), State Bank of India (down 0.22% to Rs 2,433.50) edged lower.

Bharti Airtel (down 5.14% to Rs 999.45), Maruti Suzuki India (down 1.9% to Rs 1,055) edged lower.

FMCG stocks surged. ITC (up 5.24% to Rs 199) and Hindustan Unilever (up 0.76% to Rs 212), Tata Tea (up 3.55% to Rs 928) edged higher.

Metal stocks also inched up. JSW Steel (up 8.84% to Rs 1,347.05), Tata Steel (up 2.44% to Rs 885.50), Hindalco Industries (up 2.89% to Rs 211.55), Steel Authority of India (up 0.68% to Rs 289.50) edged higher. Sterlite Industries (down 1.34% to Rs 1,088) edged lower.

Kolte Patil Developers was trading at a premium of 29.31% over the IPO price of 145 on its debut today. The stock will be placed in the B1 group on BSE. The company had fixed the IPO price at the top end of the Rs 125-145 IPO price band.

Mahindra & Mahindra rose 2.86% to Rs 810.30. As per reports Mahindra & Mahindra’s (M&M’s) all-Indian utility vehicle, Scorpio, will enter the quality-conscious US market, which is also the largest in the world with 15 million vehicles in annual sales. The company already has firm orders for 45,000 units of Scorpio for the first year, which is more than the 40,000 it sold in India in the last financial year. More importantly, 285 US dealers have signed up to sell the vehicle and are investing $178 million in setting up sales and service outlets.

GMR Infrastructure rose 2.8% to Rs 249.95.A clutch of domestic banks and foreign financial investors (FIIs) picked up around 9% stake in GMR Infrastructure, the flagship company of the GMR group, for around $1 billion through a qualified institutional placement (QIP). The deal is the largest among the recent QIP deals.

Reliance Energy rose 0.95% to Rs 1,950.10 whereas Tata Power Company declined 1.1% to Rs 1,342. As per reports, Three Indian conglomerates —GMR Infrastructure ,Tata Power Company and Reliance Energy (REL)—are among those who have submitted bids for acquiring one of the three power firms in Singapore valued at about $1.7 billion (Rs6,698 crore), bidding for which closed on Wednesday. Number of international firms submitted indicative bids for the project on the last day.

Glenmark Pharmaceuticals declined 1.9% to Rs 564. It announced before the market hours today, 13 December 2007, that Abbott filed suit in the U.S. District Court for the District of New Jersey, seeking to prevent Glenmark from proceeding with the commercialization of its Trandolapril; verapamil hydrochloride products which is currently marketed by Abbott as Tarka.

Markets end on a new high

The markets ended on a new high outperforming most of its Asian peers. Asian markets closed in red and even Europe was trading weak after the Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut. Midcap and smallcaps were the star performers.

Sensex closed up 84.98 points or 0.42% at 20375.87, and the Nifty up 62.05 points or 1.02% at 6159.30.

Reliance Industries was flat at Rs 2,878.05. The company said on Tuesday, 11 December 2007, it has signed exploration and production contracts with Colombia's Agencia Nacional de Hydrocarburos for two offshore blocks, Borojo North and Borojo South.

Banking stocks declined. ICICI Bank (down 2.37% to Rs 1,284.90) and State Bank of India (down 0.24% to Rs 2,440) edged lower. Interest rates in India are unlikely to come down in the short to medium term, T.S. Bhattacharyya, managing director of State Bank of India said today. HDFC Bank rose 0.31% to Rs 1,780.25.

IT pivotals were mixed. Infosys (down 3.79% to Rs 1,677), Satyam Computer Services (down 2.67% to Rs 429.90) edged lower. Wipro (up 0.08% to Rs 505.55) and Tata Consultancy Services (up 0.94% to Rs 1,049) edged higher.

Healthcare stocks advanced in late trade. Cipla (up 2.36% to Rs 199.55), Ranbaxy Laboratories (up 0.63% to Rs 407.70) and Dr. Reddy’s Laboratories (up 1.75% to Rs 685.80) edged higher.

Realty stocks rose. Hosing Development & Infrastructure (up 14.01% to Rs 978.30), Ansal Properties & Infrastucture (up 22.38% to Rs 418.35), Indiabulls Real Estate (up 3.19% to Rs 746.55) Unitech (up 1.28% to Rs 485.95), and DLF (up 0.74% to Rs 1,021.10) edged higher.

Metal stocks surged in late trade. Tata Steel rose 3.42% to Rs 864.45. The company today said it has signed a joint venture agreement with state-run mineral development company SODEMI for the development of Mount Nimba iron ore deposits in Ivory Coast, West Africa.

Jindal Saw (up 12.35% to Rs 1,036.45), Shree Precoated Steel (up 3.67% to Rs 395.15), National aluminium Company (up 11.55% to Rs 451.45), Hindalco Industries (up 3.06% to Rs 205.65), Steel Authority of India (up 3.85% to Rs 287.55) edged higher.

HDFC (up 5.33% to Rs 3,103.95), Reliance Communications (up 3.51% to Rs 765.75), NTPC (up 3.21% to Rs 251) edged higher.Bharat Heavy Electricals declined 0.82% to Rs 2,648.35.

Reliance Energy declined 0.72% to Rs 1,931.70. It has bagged an engineering, procurement and construction (EPC) contract from Damodar Valley Corporation (DVC) to set up a coal based power station at Raghunathpur in West Bengal. The contract is valued at over Rs 3,725 crore. The EPC Group of Reliance Energy currently has orders on hand for execution aggregating over Rs 10,000 crore.

Edelweiss lists at 75% premium on BSE

Edelweiss Capital today listed on the Bombay Stock exchange at Rs 1,444 as against the offer price of Rs 825 - a premium of 75% to its issue price. The stock hit a high of Rs 1,609, and is currently (1040 hrs) trading at Rs 1,529.

Edelweiss Capital provides investment banking, institutional equities, private client broking, asset management, wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients.

Edelweiss Capital had come out with a public issue of 83,86,147 equity shares of Rs 5 each, in a price band of Rs 725-825 per equity share. The issue was subscribed almost 111 times.

The financial services company plans to use the proceeds of the issue towards enhancement of margin maintenance with stock exchanges, establishment of additional offices and acquisition of office infrastructure, enhancement of existing technological capacity and loan prepayment.

The lead managers to the issue were Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Lehman Brothers Securities Private Limited.

Markets slip once again despite strong IIP data

The market opened weak tracking weak global markets. However, it recovered from lower level. Asian markets were trading weak today after the US Federal Reserve's small 25 basis points interest rate cut on Tuesday, 11 December 2007, raised worries about US economic growth.The market lost ground despite strong industrial production data for October 2007 which hit the market in early afternoon trade today, 12 December 2007. The market had staged a rebound from lower level in early trade after an initial slump. IT, banking majors declined.

At 12.07 hrs IST, the Sensex is up 5.17 points or 0.03% at 20296.06, and the Nifty down 4.15 points or 0.07% at 6093.10.

The Index of Industrial Production (IIP) jumped 11.8% in October 2007 from 4.5% in October 2006. IIP stood at 9.7% in April-October 2007 compared with 10.1% in April-October 2006. Industrial output data for September 2007 was revised upwards to 6.8% from 6.4%.

Banking stocks declined. ICICI Bank (down 1.22% to Rs 1,300) and HDFC Bank (down 1.78% to Rs 1,743.10), State Bank of India (down 0.29% to Rs 2,438.80) edged lower.

IT stocks declined further in early afternoon trade. Infosys (down 3.04% to Rs 1,690), Satyam Computer Services (down 1.87% to Rs 433.45) and Wipro (down 1.97% to Rs 495.20) edged lower. However, Tata Consultancy Services rose 0.17% to Rs 1,041.

Healthcare stocks rose. Cipla (up 0.97% to Rs 196.85), Ranbaxy Laboratories (up 0.83% to Rs 408.50) and Dr. Reddy’s Laboratories (up 0.74% to Rs 679) edged higher.

Realty stocks surged. Hosing Development & Infrastructure (up 10.35% to Rs 946.90), Ansal Properties & Infrastucture (up 13.5% to Rs 387.05), Indiabulls Real Estate (up 3.12% to Rs 746.10) Unitech (up 1.06% to Rs 484.90), DLF (up 0.32% to Rs 1,016.80) edged higher.

Metal stocks rose. Tata Steel rose 2.17% to Rs 854. The company today said it has signed a joint venture agreement with state-run mineral development company SODEMI for the development of Mount Nimba iron ore deposits in Ivory Coast, West Africa.

Shree Precoated Steel (up 4.46% to Rs 398.15), Maharashtra Seamless (up 3.43% to Rs 618.05), Hindalco Industries (up 1.55% to Rs 202.70), Steel Authority of India (up 0.63% to Rs 278.65) edged higher.

HDFC (up 3.34% to Rs 3,045.05), Reliance Communications (up 1.62% to Rs 751.75), ONGC (up 0.93% to Rs 1,250) edged higher.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries rose 0.18% to Rs 2,884. The company said on Tuesday, 11 December 2007, it has signed exploration and production contracts with Colombia's Agencia Nacional de Hydrocarburos for two offshore blocks, Borojo North and Borojo South.

Edelweiss Capital was trading at Rs 1,518.10 on BSE, a premium of 84.01% compared to IPO price of Rs 825. On BSE, 17.18 lakh shares changed hands in the counter in early trade. The stock debuted at Rs 1443.75, a premium of 75% as compared to the issue price of Rs 825.

Fed cuts key rates by 25 bps

The US Federal Reserve lowered its benchmark interest rate by a quarter point to 4.25 percent, while signaling that it is open to further cuts if the housing slump and credit squeeze worsen.

The Central Bank also cut the discount rate by a quarter point to 4.75 percent, counter to speculation among investors that the Fed would make a deeper reduction.

The FOMC said, “Recent developments, including the deterioration in financial market conditions, have increased the uncertainty surrounding the outlook for economic growth and inflation.”

The Fed dropped language from its previous statement that risks of slower growth and faster inflation were ``roughly'' balanced. In a statement the FOMC said that recent developments, including the deterioration in financial market conditions, have increased the uncertainty surrounding the outlook for economic growth and inflation.

It added, “Lower borrowing costs should help promote moderate growth over time.”

The FOMC further said that lower borrowing costs should help promote moderate growth over time. Policy makers are actively considering steps to ease credit in financial markets, and haven't ruled out moves to increase liquidity before their next scheduled meeting on January 29-30.

According to CNBC analyst, Steve Leisman, there is a fairly widespread disappointment with the Fed. He said, “Not just here in the instinctive reaction of the markets, but I am talking about the considered opinion of seasoned Fed observers. The problem was not by the way - I don’t believe - with the quarter point rate cut. They did cut the overnight lending rate by a quarter to 4.25%. It left the discount window unchanged. That is the rate where banks can borrow directly from the Fed with a wide variety of securities. That is the disappointment that I am taking up anyway. Meanwhile the Fed continued to raise concerns about inflation and did not say that the primary risk to the economy is for weakness instead of growth.”

Markets soar ahead of Fed meet

It was a fantastic session for the markets as they closed with huge gains on a new life time high. India was among the best performing markets in Asia. Sensex added 350 points closing near 20300 levels. After a lot of attempts Nifty not only ended above 6000 but also hit 6100 mark and closed just below that mark.

Sensex was up 360.21 points or 1.81% at 20290.89, and the Nifty up 136.65 points or 2.29% at 6097.25.

Bharti Airtel (up 6.21% to Rs 1,030.70), ONGC (up 3.68% to Rs 1,238.45) spurted.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries rose 1.87% to Rs 2,875.40. As per reports, Reliance Industries (RIL), has struck a deal to explore uranium in Australia, as soaring demand and prices turn the heavy radioactive metal into a lucrative commodity. RIL, through its subsidiary RIL (Australia), has signed an agreement with Uranium Exploration Australia (UXA) to buy 49% in eight exploration blocks owned by the company in South Australia and Northern Territory, reports suggest.

Banking stocks gained. HDFC Bank (up 5.2% to Rs 1,781.30),Indian Overseas Bank (up 4.76% to Rs 185), ICICI Bank (up 2.34% to Rs 1,303.50), and State Bank of India (up 0.72% to Rs 2,441.90) edged higher.

Realty stocks surged. Ansal Propertes & Infrastructure (up 16.88% to Rs 340), Unitech (up 7.39% to Rs 475), Indiabulls Real Estate (up 1.98% to Rs 728) edged higher. DLF declined 1.35% to Rs 1,012.

Metal stocks rose. Shri Precoated Steel (up 10% to Rs 382.10), National Aluminium Company (up 5.55% to Rs 404), Sterlite Industries (up 3.28% to Rs 1,109.90), Steel Authority of India (up 2.14% to Rs 276,95), Hindalco Industries (up 3.73% to Rs 200.30), Tata Steel (up 0.06% to Rs 834) edged higher.

Auto stocks also gained. Tata Motors (up 0.49% to Rs 770), Maruti suzuki India (up 3.64% to Rs 1,083.50), Hero Honda Motors (up 1.94% to Rs 699.50) and Bajaj Auto (up 3% to Rs 2,793.90) edged higher.

Infosys (down 0.54% to Rs 1,739), Ambuja Cements (down 0.27% to Rs 150.50), Reliance Energy (down 0.46% to Rs 1,937.15) and Bharat Heavy Electricals (down 0.27% to Rs 2,670.25) edged lower.

Sensex within striking distance of all-time high

The market surged in early trade on strong cues from global markets ahead of US Federal Reserve's meeting today to decide the Fed rate cuts. The S&P CNX Nifty crossed 6,000 mark.The market remained stable at higher levels in afternoon trade. The S&P CNX Nifty hit fresh all-time high in afternoon trade. The market tracked firm global markets.

At 13:20 IST, the 30-share BSE Sensex was up 266.17 points or 1.34% to 20,198.15.The broader S&P CNX Nifty was up 105.85 points or 1.78% at 6,066.45.

Reliance Industries rose 1.74% to Rs 2,871.50. As per reports, Reliance Industries (RIL), has struck a deal to explore uranium in Australia, as soaring demand and prices turn the heavy radioactive metal into a lucrative commodity. RIL, through its subsidiary RIL (Australia), has signed an agreement with Uranium Exploration Australia (UXA) to buy 49% in eight exploration blocks owned by the company in South Australia and Northern Territory, reports suggest.

Auto stocks inched up. Tata Motors (up 0.69% to Rs 771.50), Maruti suzuki India (up 1.01% to Rs 1,056), Hero Honda Motors (up 2.08% to Rs 701.50) and Bajaj Auto (up 2.19% to Rs 2,772) edged higher.

Realty stocks jumped further in afternoon trade. Ansal Propertes (up 10.02% to Rs 320.05), Unitech (up 6.6% to Rs 471.05), Indiabulls Real Estate (up 2.54% to Rs 732) and DLF (up 0.5% to Rs 1,031), edged higher.

Banking stocks rose. ICICI Bank (up 1.9% to Rs 1,297.90), HDFC Bank (up 2.77% to Rs 1,740) and State Bank of India (up 1.24% to Rs 2,454.55) edged higher.

Metal stocks advanced further. Tata Steel (up 1.28% to Rs 844), Sterlite Industries (up 2.18% to Rs 1,098), Steel Authority of India (up 2.71% to Rs 278.50) and Hindalco Industries (up 1.84% to Rs 196.50),Jindal Steel (up 5.54% to Rs 15,650) and Shri Precoated Steel (up 9.38% to Rs 379.20) edged higher.

HDFC (up 2.83% to Rs 2,953.40), Bharti Airtel (up 2.74% to Rs 997.05), NTPC (up 2.25% to Rs 247.25) and ONGC (up 3.89% to Rs 1,241) edged higher.Ambuja Cements declined 0.23% to Rs 150.55. Infosys declined 0.89% to Rs 1,731.

Markets remain subdued

The market opened with upward gap but soon pared gains in the early trade to slip into the red. It bounced back later.The market was subdued in afternoon trade. Concerns on the political front resurfaced after communist allies warned the government against going ahead with a civilian US nuclear deal.

At 13.15 pm, the Sensex is down 75.26 points or 0.38% at 19890.74, and the Nifty down 34.65 points or 0.58% at 5939.65.

Reliance Industries declined 0.65% to Rs 2,823.05. As per reports, it has intensified restructuring of its retail venture Reliance Retail to create up to 30 independent business activities, each targeted to be a profit centre. Speculation is rife of a mega initial public offer in 2008 of Reliance Retail.

Fertiliser stocks rose. Chambal Fertilisers & Chemicals (up 1.7% to Rs 86.80), Coromandel Fertilisers & Chemicals (up 2.63% to Rs 124.90), Mangalore Chemicals & Fertilisers (up 0.72% to Rs 42), Nagarjuna Fertilisers and Chemicals (up 1.74% to Rs 84.75), National Fertiliser (up 1.58% to Rs 80.60), Tata Chemicals (up 6.3% to Rs 387.55), Zuari Industries (up 1.41% to Rs 363) and Gujarat State Fertilisers & Chemicals (up 3.42% to Rs 286) edged higher.

The Government has announced the issue of ‘Government of India Special Bonds, 2023’ worth Rs 3890 crore. The first tranche of the special bonds are being issued at par to 22 fertiliser companies as compensation towards fertiliser subsidy during the current financial year on 7 December 2007.

Realty majors galloped. India’s largest real estate developer in market capitalisaion DLF rose 0.88% to Rs 1,020.25.

Unitech rose 1.53% to Rs 435.50. As per reports, India’s second-largest real estate developer, Unitech has major plans, which look beyond real estate. After announcing its plans of entering the telecom business, Unitech now wants to concentrate on positioning itself as a full fledged infrastructure development company with interests in power, roads, airports and also in other areas wherever it sees an opportunity. Besides, it also plans to enter the international market.

Indiabulls Real Estate rose 3.7% to Rs 713. The company said before trading hours today, 10 December 2007, its wholly owned subsidiary, Indiabulls Wholesale Services (IWSL), is proposing to make an open offer for Piramyd Retail, a retail company.

Power stocks declined. NTPC (down 1.49% to Rs 242.40), Reliance Energy (down 1.22% to Rs 1,908.55), Tata Power Company (down 0.9% to Rs 1,310.10) edged lower.

FMCG stocks plummet. ITC (down 0.53% to Rs 187.90) and Hindustan Unilever (down 2.23% to Rs 203.70) edged lower.

Bharti Airtel rose 1.23% to Rs 971.50. Bharti Airtel announced before the market hours today 10 December 2007 that, Bharti Infratel, Idea Cellular and Vodafone Essar have agreed to form an independent tower company, Indus Towers to provide passive infrastructure services in India to all operators on a non-discriminatory basis. Idea Cellular rose 3.64% to Rs 137.90.

Hindalco Industries (up 1.83% to Rs 191.60), ICICI Bank (up 1.8% to Rs 1,270) and Infosys (up 0.57% to Rs 1,727.90) edged higher.

Tata Consultancy Services (down 1.67% to Rs 1,043.50),Mahindra & Mahindra (down 1.92% to Rs 765), Tata Motors (down 2.5% to Rs 751.85), Hindustan Unilever (down 2.46% to Rs 203.25) and Bharat Heavy Electricals (down 1.76% to Rs 2,694.90) edged lower.

Markets lose ground

The market opened with a positive gap following strong cues from global markets. Nifty touched an all-time high. Telecom stocks were in demand.But now the markets have lost further ground with Nifty slipping in red and Sensex trading flat. The breadth has turned negative with broader markets in red.

At 1.41 hrs IST, the Sensex is up 5.79 points or 0.03% at 19801.66, and the Nifty down 15.30 points or 0.26% at 5939.40.

The BSE IT index was up 1.84% to 4,345.65. India’s second largest software firm by sales Infosys Technologies jumped 3.61% to Rs 1694. Tech Mahindra soared 5.66% to Rs 1177, I-Flex Solutions moved up 2.51% to Rs 1565, TCS gained 1.25% to Rs 1047.15, and Satyam Computers rose 0.62% to Rs 439.50. Wipro was nearly steady at Rs 492.90.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries fell 1.38% to Rs 2835. The stock came off session's high of Rs 2915.

India’s largest drug maker by sales Ranbaxy Laboratories rose 1.51% to Rs 403.95 after it received tentative approval from the US Food and Drug Administration for donepezil hydrochloride tablets.

Telecom stocks edged higher. India’s largest listed cellular service provider by market share Bharti Airtel jumped 5.33% to Rs 990.

India’s second largest listed telecom service provider by sales Reliance Communications rose 2.41% to Rs 736 on reports that Department of Telecommunications (DoT) on Thursday, 6 December 2007 awarded a pan-India GSM licence to the company.

The BSE Oil & Gas index was down 0.95% to 12,713.91. ONGC declined 1.06% to Rs 1179.80, GAIL (India) declined 2.27% to Rs 467.50, Reliance Natural Resources fell 1.06% to Rs 177, HPCL shed 1.47% to Rs 302.45, and BPCL shed 1.36% to Rs 417.

The BSE Realty index was up 2.99% to 11,686.25. India’s largest real estate firm by market capitalisation DLF jumped 3.94% to Rs 1009.55, an all time high.

Mahindra Lifespace Developers soared 7.69% to Rs 795, Peninsula Land jumped 6.57% to Rs 150.95, Unitech rose 3.10% to Rs 444.50 and Phoenix Mills rose 1.97% to Rs 2455.05.

The BSE Bankex was up 1.10% to 11,230.04. India’s largest private sector bank by assets ICICI Bank rose 1.13% to Rs 1212.90.

Centurion Bank of Punjab jumped 6.56% to Rs 52, Oriental Bank of Commerce rose 2.31% to Rs 276.80, HDFC Bank gained 1.89% to Rs 1718, and State Bank of India rose 1.45% to Rs 2429.

Among the side counters, HTMT Global Solutions soared 12.11% to Rs 620, Geometric spurted 11.23% to Rs 81.25, CMC jumped 6.22% to Rs 1079.75, Essel Propack gained 4.92% to Rs 65 and Punjab Tractors rose 4.21% to Rs 250.

Market ends in green in choppy trade

The market failed to sustain at higher level as index heavyweight Reliance Industries slipped.Nifty opened with abig bang crossed the 6000 mark but failed to susatin its position at the higher levels and slipped in red. However, it managed to claw back in green towards the close.

The 30-share BSE Sensex rose 57.80 points or 0.29% to 19,795.87.The broader S&P CNX Nifty rose 14.70 points or 0.25% to 5954.70.

Reliance Industries fell 0.97% to Rs 2874.55, off day’s high of Rs 2955.The company and Kuwait Petroleum (KPC), the national oil major of Kuwait, have reportedly begun the first round of discussions for scripting a mega joint collaboration across the oil and gas vertical. KPC is keen to rope in RIL as a partner in its upcoming projects in Kuwait in both refining and petrochemicals.

The BSE Realty index was up 3.59% to 11,347.36. It outperformed the Sensex. Sobha Developers gained 2.12% to Rs 909.15, DLF rose 1.71% to Rs 971.25 and Indiabulls Real Estate jumped 0.93% to Rs 666.25

Real estate developer Omaxe soared 12.20% to Rs 482.05. Omaxe today said a consortium comprising the company, GVK Power & Infrastructure and Nagarjuna Construction Company has put in a bid for development of 8-lane access controlled expressway project in Uttar Pradesh (UP). The Rs 30,000 crore project named Ganga Expressway Project would be constructed on the banks of river Ganga to connect eastern and western UP.

India’s second largest realty firm by market capitalization Unitech soared 9.82% to Rs 431.15 on reports it may hive off its retail business i.e. the mall development business as a separate company.

India’s largest private sector bank by assets ICICI Bank rose 3.24% to Rs 1199.30.Centurion Bank of Punjab jumped 7.73% to Rs 48.80, Canara Bank soared 3.25% to Rs 300, Oriental Bank of Commerce gained 0.99% to Rs 270.55 and State Bank of India rose 0.55% to Rs 2396.60.

Videocon Industries slumped 6.73% to Rs 572, Gitanjali Gems fell 2.15% to Rs 446.10, Titan Industries declined 1.55% to Rs 1565.40, and Blue Star shed 1.16% to Rs 469.05.

India’s second largest software exporter Infosys Technologies gained 1.97% to Rs 1634.90.Patni Computers gained 1% to Rs 328.95, and TCS rose 0.25% to Rs 1034.20. However, Wipro fell 1.12% to Rs 493.40 and Satyam Computers declined 0.44% to Rs 436.80.

Reliance Energy jumped 3.13% to Rs 1946.60, Gujarat Industries Power gained 1.67% to Rs 112.30, and NTPC rose 0.35% to Rs 245. Tata Power was steady at Rs 1311.05.Power generation and supply firm GVK Power & Infrastructure surged 6.17% to Rs 840.90 after its board approved a 10-for-1 stock split.

Direct-to-home broadcast service provider Dish TV declined 0.32% to Rs 93.95, off day’s high of Rs 102.10 after the company said after market hours on Wednesday (5 December 2007) that Kishore Biyani’s Indivision Capital, the private equity arm of Future Capital, would buy 4.9% in in the company for Rs 250 crore.

Maharashtra Seamless (MSL), the flagship company of DP Jindal Group, rose 0.31% to Rs 581.70 after the company said it is acquiring a seamless pipes plant in Romania having a capacity of 2 lakh tonnes per annum.

Drug maker Glenmark Pharmaceuticals jumped 3.98% to Rs 503.80. The company reportedly plans to acquire a distribution and marketing company in Indonesia, in a bid to increase its foothold in Asia’s emerging markets.

Steel maker JSW Steel rose 3.31% to Rs 1166.85 after the company said on Wednesday, 5 December 2007, its crude steel production rose 16% in November 2007 over November 2006.

Markets still in green

Firm global markets boosted the domestic bourses with the Sensex hitting 20,000 level in early trade.Market came off higher level in afternoon trade as Reliance Industries pared gains. ICICI Bank held firm. Power, healthcare and realty stocks were in demand. Cipla surged. Market breadth was strong.

At 12:20 IST, the 30-share BSE Sensex was up 197.59 points or 1% to 19,935.66.The broader S&P CNX Nifty was up 55.80 points or 0.94% to 5995.80.

Reliance Industries rose 0.51% to Rs 2917.50, off day’s high of Rs 2955. The company and Kuwait Petroleum (KPC), the national oil major of Kuwait, have reportedly begun the first round of discussions for scripting a mega joint collaboration across the oil and gas vertical. KPC is keen to rope in RIL as a partner in its upcoming projects in Kuwait in both refining and petrochemicals.

India’s largest private sector bank by assets ICICI Bank rose 2.88% to Rs 1195.10.
India’s second largest software exporter Infosys Technologies gained 2.17% to Rs 1638.05.

India’s top state run oil explorer by market capitalization ONGC gained 1.55% to Rs 1225, on reports its unit ONGC Videsh would join up with the Hinduja Group to develop two major oil and gas assets in Iran.

The BSE Power index was up 1.96% to 4,630.87. Gujarat Industries Power jumped 4.71% to Rs 115.65, NTPC gained 354% to Rs 252.80, Reliance Energy gained 2.88% to Rs 1942 and Tata Power rose 1.28% to Rs 1327.35.

The BSE Healtcare index was up 2.19% to 4,037.11. Cipla soared 5.49% to Rs 199.75, Sun Pharma Advanced Research Company surged 15% to Rs 108.60, Pfizer soared 4.45% to Rs 740 and Sterlite Biotech gained 3.68% to Rs 161.65.

Drug maker Glenmark Pharmaceuticals jumped 4.86% to Rs 508.05. The company reportedly plans to acquire a distribution and marketing company in Indonesia, in a bid to increase its foothold in Asia’s emerging markets.

The BSE Realty index was up 2.51% to 11,228.76. DLF rose 0.75% to Rs 962.10, Omaxe surged 13.59% to Rs 488.05, Indiabulls Real Estate jumped 5.44% to Rs 696, Sobha Developers gained 3.50% to Rs 921.50 and Penland spurted 7.72% to Rs 143.

India’s second largest realty firm by market capitalization Unitech rose 3.44% to Rs 406.10 on reports it may hive off its retail business i.e. the mall development business as a separate company.

Apparel firm House of Pearl soared 8% to Rs 282.45 after the company said it has acquired UK-based import and distribution company, FX Imports, which would help add Rs 200 crore in revenue in 3 years.

Essar Steel, part of the Essar Group, was locked at upper limit of 20% at Rs 71.10 following an order passed by Securities Appellate Tribunal prohibiting the firm from delisting.

Pharmaceutical packaging material maker Bilcare rose 0.88% to Rs 1327.25, off day’s high of Rs 1398 after the company signed a deal to set up a Rs 88.40 crore clinical supplies unit in Wales.

Markets end higher

After remaining range bound in afternoon trade, the market firmed up in late trade as European markets, which opened after Indian markets, started on a firm note. ICICI bank surged in late trade. Reliance Industries firmed up. Banking, oil & gas and realty stocks were in demand. IT stocks edged lower.

Sensex was up 208.57 points or 1.07% at 19738.07, and the Nifty up 81.65 points or 1.39% at 5940.00.

Reliance Industries rose 1.01% to Rs 2892.80, off day’s low of Rs 2863.India’s largest private sector bank by assets ICICI Bank rose 2.77% to Rs 1172, off day’s low of Rs 1131.India’s second largest software exporter by sales Infosys Technologies fell 0.65% to Rs 1604.

ONGC soared 4.26% to Rs 1206, Tata Motors jumped 4.25% to Rs 774, State Bank of India gained 2.70% to Rs 2380, Hindalco Industries gained 2.19% to Rs 198, and Cipla rose 2.54% to Rs 189.50.

Tata Steel fell 1.37% to Rs 861, Satyam Computers declined 0.66% to Rs 438, Grasim Industries gave away 0.49% to Rs 3795, Reliance Energy shed 0.48% to Rs 1884.10 and Hindustan Unilever declined 0.19% to Rs 206.20.

Reliance seeing $10-15 bn upstream acquisition

According to Agencies reports, Reliance is looking at USD 10-15 billion upstream acquisition, reports CNBC-TV18. The company aims to produce 3 lakh bpd (barrels per day) from its overseas assets. Reliance has also said that it aims to consolidate its overseas assets in the next one year, Agencies reports add.

Range bound market; strong breadth

The market held positive zone in range bound trade in early afternoon trade. IT stocks declined further.Buying continued in small-cap and mid-cap shares which have been rising since the past few days. Market breadth was strong. Asian markets, which opened before Indian market, were in green.

At 12.03 hrs IST, the Sensex is up 86.10 points or 0.44% at 19615.60, and the Nifty up 32.65 points or 0.56% at 5891.

Reliance Industries rose 0.67% to Rs 2883, off day’s high of Rs 2907.80.India’s largest private sector bank by assets ICICI Bank was nearly steady at Rs 1140.50, off day’s high of Rs 1156.80.

The BSE IT index fell 0.76% to 4,215.48. HCL Technologies fell 1.48% to Rs 306, Wipro fell 0.56% to Rs 493.95, Satyam Computers fell 0.67% to Rs 437.95 and TCS fell 0.19% to Rs 1027.60.India’s second largest software firm by sales Infosys Technologies fell 1.35% to Rs 1592.60.

The BSE Metal index fell 0.31% to 18,810.86. Sterlite Industries declined 2.04% to Rs 1044.90, Jindal Stainless declined 0.94% to Rs 236.05, Tata Steel fell 0.81% to Rs 865.85, Steel Authority of India (Sail) fell 0.51% to Rs 283.45 and Hindalco Industries fell 0.23% to Rs 193.30.

Select PSU stocks were in demand. The BSE PSU index was up 1.39% to 10,009.77. Syndicate Bank jumped 6.03% to Rs 116, ONGC rose 2.88% to Rs 1190, Neyveli Lignite Corporation gained 3.68% to Rs 253.70, Indian Bank rose 4.19% to Rs 203.80, Union Bank of India rose 2% to Rs 186.85 and BEML rose 2.56% to Rs 1795.

Among the side counters, FDC surged 16.56% to Rs 36.25, Ispat Industries jumped 12.97% to Rs 61.85, Spice Communications spurted 6.04% to Rs 50.90, Escorts gained 6% to Rs 165.25 and Welspun Gujarat Stahl Rohren gained 5.58% to Rs 442.05.

Pharmaceuticals firm Matrix Laboratories gained 2.01% to Rs 223.50 after the company said it has received a tentative approval from US Food and Drug Administration for its abbreviated new drug application or for tenofovir disoproxil fumarate tablets.

Engineering firm Lanxess ABS gained 1.43% to Rs 198 on reports it plans to invest Rs 800 crore to set up a greenfield chemical facility in Gujarat.

Markets end lower

The market edged lower led by fall in index heavyweights Reliance Industries and ICICI Bank. Select IT stocks weakened. Tata Steel soared.Investors were also cautious ahead of the discussion on the Indo-US nuclear deal, which will take place in the Rajya Sabha today (4 December 2007) where the Left is expected to sharpen its attack on the issue.

The 30-share BSE Sensex provisionally ended down 75.94 points or 0.39% to 19,527.47.
The broader based S&P CNX Nifty provisionally ended down 3.45 points or 0.06% to 5861.55.

Reliance Industries fell 2.46% to Rs 2860.20. The stock came off session's high of Rs 2960.India’s largest private sector bank by assets ICICI Bank fell 1.92% to Rs 1142.90.India’s second largest software exporter by sales Infosys Technologies gained 0.96% to Rs 1616.

The world's sixth-largest steel maker Tata Steel soared 4.15% to Rs 874.60 after the chief of its Corus unit said the firm was planning to lift prices next year.

Mahindra & Mahindra gained 2.58% to Rs 770.25, Bharat Heavy Electricals rose 2.13% to Rs 2820, Larsen & Toubro gained 1.30% to Rs 4230, and Ambuja Cements rose 0.95% to Rs 153.50.

TCS fell 2.20% to Rs 1028.95, Satyam Computers fell 1.16% to Rs 442.80, ONGC fell 1.11% to Rs 1158.60, Ranbaxy Laboratories declined 1.35% to Rs 368.95 and Bharti Airtel declined 0.90% to Rs 916.10.

FM admits to terror trail in the stock market

Terror targetted at India could be funded by playing the stock markets, is something that has been suspected for some time now, what with National Security Advisor, M K Narayanan raising the concern at the 43rd Conference on Security Policy in Munich in February this year.

This time, it's straight from the Finance Minister's mouth, who says that the Government is probing one possible case of investment in share markets, which is suspected to be funded by terror organisations.

Finance Minister P Chidambaram, speaking in Parliament on Tuesday, said investigations were on at the moment."Recently one case has been noticed. We suspect it could be linked to terror," Chidambaram said in Parliament.

This is the first time the government has made a public admittance to suspected terror funding in stocks.

Earlier, former National Security advisor M K Narayanan, had said at the 43rd Conference on Security Policy in Munich in February that terrorist groups were raising funds by manipulating stock exchanges.

Narayanan had not given any specific names at that time, though he had mentioned reports of isolated incidents of terrorist outfits manipulating stock markets to raise funds for their operations.

At that time, Chidambaram had responded to Narayanan's concerns by asking SEBI, RBI and other agencies to keep a close watch on such illegal activities.
Source: IBNLive

Markets trading flat

The market pared gains after a firm start. Investors were cautious ahead of a discussion on the Indo-US nuclear deal, which will take place in the Rajya Sabha today. Consumer durables stocks were in demand. Key Asian indices, except Japan, were in green.

At 11.59 hrs IST, the Sensex is up 4.38 points or 0.02% at 19607.79, and the Nifty up 1.25 points or 0.02% at 5866.25.

Reliance Industries fell 0.83% to Rs 2907.95. The stock came off session's high of Rs 2960.India’s largest private sector bank by assets ICICI Bank was down 1.18% to Rs 1151.80, off sessions low of Rs 1137.65.India’s second largest software firm by sales Infosys Technologies gained 0.65% to Rs 1611.40.

The BSE Metal index was up 1.47% to 18,550.47. Maharastra Seamless surged 7.47% to Rs 549.90, Sesa Goa jumped 3.47% to Rs 3613, Jindal Stainless gained 2.10% to Rs 230.75, Tata Steel rose 1.96% to Rs 855.10, National Aluminium Company (Nalco) gained 0.35% to Rs 371 and Steel Authority of India (Sail) rose 1.52% to Rs 266.50.

Hindalco Industries fell 0.16% to Rs 191.25 and Sterlite Industries declined 1% to Rs 1071.50.

The BSE Capital Goods index rose 1.06% to 20,174.59. Alstom Projects rose 3.41% to Rs 1010, Siemens rose 3.12% to Rs 1898, BEML gained 1.90% to Rs 1728, Bharat Heavy Electricals (Bhel) gained 1.44% to Rs 2806, Larsen & Toubro rose 1.18% to Rs 4228.05 and Jaiprakash Associates rose 1.05% to Rs 1898.

Among side counters, Chambal Fertilisers & Chemicals surged 12.77% to Rs 78.60, IVR Prime Urban Developers soared 9.12% to Rs 433, Ingersoll-Rand (India) rose spurted 8.91% to Rs 340.50, Sobha Developers jumped 8.52% to Rs 943, and Arvind Mills gained 6.39% to Rs 82.40.

Market ends on a firm note

Strong buying interest in some index pivotals including Reliance Industries boosted the bourses today. IT pivotals, Wipro, TCS and Satyam Computer edged higher.

The 30-share BSE Sensex provisionally ended up 243.36 points or 1.26% to 19,606.55. The broader based S&P CNX Nifty provisionally ended up 104.70 points or 1.82% to 5867.45.

Reliance Industries rose 2.60% to Rs 2928.90, off day’s low of Rs 2850.India’s largest private sector bank by assets ICICI Bank fell 1.24% to Rs 1170, off day’s high of Rs 1183.25.

India’s second largest software exporter by sales Infosys Technologies fell 0.25% to Rs 1601.

Reliance Energy spurted 9.26% to Rs 1901, Wipro soared 7.54% to Rs 495, Reliance Commnications jumped 6.26% to Rs 717.10, Hindalco Industries gained 3.62% to Rs 192 and TCS rose 3.37% to Rs 1048.15.

Bharti Airtel fell 1.51% to Rs 925.30, Housing Development Finance Corporation (HDFC) fell 1.31% to Rs 2748.10, HDFC Bank declined 0.76% to Rs 1706, and ONGC fell 0.41% to Rs 1166.

Markets trading firm taking cues from Asia

The market opened on firm note, led by gains in heavyweight stocks. Metal, power and oil & gas stocks were in demand.The markets are trading firm at the higher levels on heavy buying seen in power, metal and oil & gas stocks. Cues from Asia is mixed Jakarta and Shanghai are in green but trading lower are markets like Taiwan.

At 12.15 hrs IST, the Sensex is up 203.74 points or 1.05% at 19566.93, and the Nifty up 83.00 points or 1.44% at 5845.75.

Reliance Industries rose 1.62% to Rs 2896.90.India’s largest private sector bank by assets ICICI Bank fell 0.82% to Rs 1174.90.

Ashok Leyland soared 5.80% to Rs 47.40, TVS Motors jumped 3.47% to Rs 67.10, Bharat Forge gained 3.28% to Rs 324.25, Exide Industries rose 3.14% to Rs 73.95, Maruti Suzuki gained 2.43% to Rs 1036.95, Mahindra & Mahindra rose 2.36% to Rs 749.05 and Tata Motors rose 1.45% to Rs 744.

The BSE Power index advanced 3.15% to 4,480.96. GVK Power & Infrastructure rose 5.32% to Rs 801.50, Neyveli Lignite rose 4.65% to Rs 246.50, NTPC rose 2.05% to Rs 241.50 and Power Grid Corporation of India 1.96% to Rs 150.80.

Power producer and distributor Tata Power soared 9.17% to Rs 1279.80. The company is reportedly eyeing a bid for Singapore electricity companies Tuas Power, PowerSeraya and Senoko. The report suggests that Singapore's state investor Temasek Holdings is selling its interests in the three firms and Tata was evaluating the opportunity.

Anil Dhirubhai Ambani Group (ADAG) led Reliance Energy (REL) jumped 5.69% to 1837.25. As per reports, ADAG will invest Rs 8,000 crore in REL that would help the company to double its net worth and increase its borrowing limit. The infusion is proposed through a preferential offer of shares to Reliance-Anil Dhirubhai Ambani Group. The preferential offer will be made at Rs 1,812 per share. After the equity infusion, the promoter’s stake will increase to 43-45% from the current 35.89%.

Battered IT pivotals edged higher on value buying. The BSE IT index was up 1.09% to 4,243.32. Wipro soared 8.15% to Rs 497.80, TCS gained 2.96% to Rs 1044, Satyam Computers gained 0.98% to Rs 444.25. However India’s second largest software exporter by sales Infosys Technologies fell 0.14% to Rs 1601.75.

India's largest low ash metallurgical coke producer by sales Gujarat NRE Coke rose soared 6.82% to Rs 124.55 after the company said it would invest Rs 175 crore to raise its wind power capacity by 30 megawatts to 57.5 megawatts.

Brokerage firm Emkay Share & Stock Brokers was locked at upper limit of 5% at Rs 258.70 after its board decided to raise Rs 250 crore through a qualified institutional placement.