Markets trading in red
The market surged in early volatile trade. Reliance Industries inched up.The markets have slipped and are trading flat amid volatility. Select buying is seen in bank and oil stocks.
At 13.00 hrs IST, the Sensex is down 56.41 points at 20525.67, and the Nifty down 30 points at 6126.50.
Industrial output rose 5.3% in November 2007 from a year earlier, well below market expectations and sharply lower than an upwardly revised annual growth of 12% in October 2007, data showed on Friday. Manufacturing production rose 5.4% in November 2007 from a year earlier, compared with a provisional annual growth of 13.3% in October 2007.
Annual inflation, based on the wholesale price index (WPI), remained unchanged at 3.5% in the week ended 29 December 2007 compared with the week ended 22 December 2007. WPI was 5.89% in the corresponding week of the previous year.
Reliance Industries was up 2.67% to Rs 3,104.
Realty stocks declined. Parsvnath Developers (down 6.42% to Rs 464.90), DLF (down 0.28% to Rs 1,139), Indiabulls Real Estate (down 1.83% to Rs 718) edged lower.
Unitech rose 0.44% to Rs 519.85 after it said the Department of Telecommunications, Ministry of Communications & Information Technology, Government of India (DOT) issued letters of intent (LOIs) to 8 subsidiaries of the company for issuance of unified access services licences (UASL) in respect of all the 22 telecom circles across the country.
Tata Motors rose 1.21% to Rs 757.60. Keeping his promise, made four years ago, to deliver a “people’s car,” Tata Group Chairman Ratan Tata unveiled on Thursday the Rs.1-lakh car christened ‘Nano.’ The world’s cheapest car from the Tata Motors stable comes with a rear mounted all-aluminium two-cylinder 623 cc petrol engine, promises a mileage of 20 kilometer per litre, and meets all emission and safety standards.
HDFC (down 2.3% to Rs 3,057), Mahindra & Mahindra (down 2.62% to Rs 782.10), ACC (down 2.32% to Rs 916.75), Ambuja Cements (down 1.62% to Rs 139.50) edged lower.
Capital goods stocks declined. Larsen & Toubro (down 0.64% to Rs 4,180.20), Bharat Heavy Electricals (down 0.82% to Rs 2,422) and Suzlon Energy (down 3.01% to Rs 2,143) edged lower.
IT stocks were mixed. India’s second largest software exporter by sales Infosys Technologies declined 0.46% to Rs 1,594.80 after the company today reported stronger-than-expected growth in net profit in Q3 December 2007. Infosys’ consolidated net profit as per Indian GAAP rose 11.9% to Rs 1231 crore in Q3 December 2007 over Q2 September 2007. Sales rose 4% to Rs 4271 crore in Q3 December 2007 over Q2 September 2007.
Infosys has raised both earnings and revenue guidance for the year ending March 2008 (FY 2008). The company has forecast 18.6% growth in EPS in FY 2008 as per Indian GAAP at Rs 79.30. It has forecast a between 19.7% to 19.9% growth in revenue in FY 2008 as per Indian GAAP to between Rs 16627 crore to Rs 16657 crore.
As per US GAAP, the company has forecast 33.8% growth in consolidated earning per American depository share in FY 2008 at $1.98. The company has forecast a between 35% to 35.2% growth in revenue as per US GAAP in FY 2008 to between $4.17 billion to $4.18 billion.
India’s largest exporter of IT services by sales Tata Consultancy Services rose 0.24% to Rs 977. India's fourth largest IT exporter by sales Satyam Computer Services down 0.27% to Rs 419.
Wipro, India's third largest IT exporter in terms of sales declined 0.94% at Rs 483. The company on Thursday said its unit Wipro Infotech, had won a nine-year outsourcing contract Aircel Cellular.
Banking stocks rose. India’s largest private sector bank by assets ICICI Bank rose 5.47% to Rs 1,430.95. The stock rose for the second day in a row on reports the bank will list at least 4 arms starting with ICICI Securities in next 6 months though board is yet to decide on securities arm listing.
HDFC Bank (up 0.88% to Rs 1,737.90) and State Bank of India (up 0.89% to Rs 2,430) edged higher.
FMCG stocks declined. ITC (down 1.23% to Rs 217) and Hindustan Unilever (down 3.34% to 221.15) edged lower.
Precision Pipes and Profiles Company was trading at Rs 133.80 on BSE, a discount of 9.9% over the IPO price of Rs 150. The stock debuted at Rs 160, a premium of 6.67% over the IPO price.
Aries Agro was trading at Rs 210 on BSE, a premium of 61.53% over the IPO price of Rs 130. The stock debuted at Rs 150, a premium of 15.38% over the IPO price.
PTC India rose 2.58% to Rs 155.30 after it decided to raise about Rs 1200 crore through an issue of 7.74 crore shares at Rs 155 each.
Geodesic Information Services rose 1.47% to Rs 225 after the software services firm said it plans to raise $125 million through issue of zero coupon, convertible overseas bonds.
At 13.00 hrs IST, the Sensex is down 56.41 points at 20525.67, and the Nifty down 30 points at 6126.50.
Industrial output rose 5.3% in November 2007 from a year earlier, well below market expectations and sharply lower than an upwardly revised annual growth of 12% in October 2007, data showed on Friday. Manufacturing production rose 5.4% in November 2007 from a year earlier, compared with a provisional annual growth of 13.3% in October 2007.
Annual inflation, based on the wholesale price index (WPI), remained unchanged at 3.5% in the week ended 29 December 2007 compared with the week ended 22 December 2007. WPI was 5.89% in the corresponding week of the previous year.
Reliance Industries was up 2.67% to Rs 3,104.
Realty stocks declined. Parsvnath Developers (down 6.42% to Rs 464.90), DLF (down 0.28% to Rs 1,139), Indiabulls Real Estate (down 1.83% to Rs 718) edged lower.
Unitech rose 0.44% to Rs 519.85 after it said the Department of Telecommunications, Ministry of Communications & Information Technology, Government of India (DOT) issued letters of intent (LOIs) to 8 subsidiaries of the company for issuance of unified access services licences (UASL) in respect of all the 22 telecom circles across the country.
Tata Motors rose 1.21% to Rs 757.60. Keeping his promise, made four years ago, to deliver a “people’s car,” Tata Group Chairman Ratan Tata unveiled on Thursday the Rs.1-lakh car christened ‘Nano.’ The world’s cheapest car from the Tata Motors stable comes with a rear mounted all-aluminium two-cylinder 623 cc petrol engine, promises a mileage of 20 kilometer per litre, and meets all emission and safety standards.
HDFC (down 2.3% to Rs 3,057), Mahindra & Mahindra (down 2.62% to Rs 782.10), ACC (down 2.32% to Rs 916.75), Ambuja Cements (down 1.62% to Rs 139.50) edged lower.
Capital goods stocks declined. Larsen & Toubro (down 0.64% to Rs 4,180.20), Bharat Heavy Electricals (down 0.82% to Rs 2,422) and Suzlon Energy (down 3.01% to Rs 2,143) edged lower.
IT stocks were mixed. India’s second largest software exporter by sales Infosys Technologies declined 0.46% to Rs 1,594.80 after the company today reported stronger-than-expected growth in net profit in Q3 December 2007. Infosys’ consolidated net profit as per Indian GAAP rose 11.9% to Rs 1231 crore in Q3 December 2007 over Q2 September 2007. Sales rose 4% to Rs 4271 crore in Q3 December 2007 over Q2 September 2007.
Infosys has raised both earnings and revenue guidance for the year ending March 2008 (FY 2008). The company has forecast 18.6% growth in EPS in FY 2008 as per Indian GAAP at Rs 79.30. It has forecast a between 19.7% to 19.9% growth in revenue in FY 2008 as per Indian GAAP to between Rs 16627 crore to Rs 16657 crore.
As per US GAAP, the company has forecast 33.8% growth in consolidated earning per American depository share in FY 2008 at $1.98. The company has forecast a between 35% to 35.2% growth in revenue as per US GAAP in FY 2008 to between $4.17 billion to $4.18 billion.
India’s largest exporter of IT services by sales Tata Consultancy Services rose 0.24% to Rs 977. India's fourth largest IT exporter by sales Satyam Computer Services down 0.27% to Rs 419.
Wipro, India's third largest IT exporter in terms of sales declined 0.94% at Rs 483. The company on Thursday said its unit Wipro Infotech, had won a nine-year outsourcing contract Aircel Cellular.
Banking stocks rose. India’s largest private sector bank by assets ICICI Bank rose 5.47% to Rs 1,430.95. The stock rose for the second day in a row on reports the bank will list at least 4 arms starting with ICICI Securities in next 6 months though board is yet to decide on securities arm listing.
HDFC Bank (up 0.88% to Rs 1,737.90) and State Bank of India (up 0.89% to Rs 2,430) edged higher.
FMCG stocks declined. ITC (down 1.23% to Rs 217) and Hindustan Unilever (down 3.34% to 221.15) edged lower.
Precision Pipes and Profiles Company was trading at Rs 133.80 on BSE, a discount of 9.9% over the IPO price of Rs 150. The stock debuted at Rs 160, a premium of 6.67% over the IPO price.
Aries Agro was trading at Rs 210 on BSE, a premium of 61.53% over the IPO price of Rs 130. The stock debuted at Rs 150, a premium of 15.38% over the IPO price.
PTC India rose 2.58% to Rs 155.30 after it decided to raise about Rs 1200 crore through an issue of 7.74 crore shares at Rs 155 each.
Geodesic Information Services rose 1.47% to Rs 225 after the software services firm said it plans to raise $125 million through issue of zero coupon, convertible overseas bonds.
Labels: Nifty.Sensex
posted by SY at 12:57 PM
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