Markets trading in red
The market slipped into red shortly after a firm open. Reliance Industries moved up. Reliance Communications rose.The market remained range bound in early afternoon trade. Reliance Industries held firm. State Bank of India and DLF edged higher.
At 12.10 pm, the Sensex is down 36.94 points or 0.18% at 20790.51, and the Nifty up 9.60 points or 0.15% at 6209.70.
Reliance Industries (RIL) was up 1.47% to Rs 3174 on reports the company is venturing into synthetic fuels through a $6-8 billion project that will turn coal into oil. Globally, this is called coal-to-liquid, or CTL, technology. RIL aims to produce about 80,000 barrels of oil per day through the process. The Rs 30,000 crore project will consume about 30 million tonnes of coal annually, reports suggest.
India’s largest commercial bank State Bank of India spurted 3.46% to Rs 2521 ahead of its board meeting today, 14 January 2008 to consider the bank’s planned rights issue to mobilise about Rs 16,700 crore before end-March this fiscal.
India’s largest real estate developer by market capitalisation DLF rose 2.09% to Rs 1221. Earlier on 11 January 2007, some reports suggested that DLF will soon come up with India’s first branded residential hotel with the Hilton Group in Goa. The 200-room hotel with 80 villas that will be sold out as vacation homes on lease-back basis, will be operational in three years. DLF plans to have six hotels on similar format in five years.
The BSE Metal index was up 1.20% to 18,976.31. Jindal Stainless rose 3.19% to Rs 208.85, Sterlite Industries flared up 1.19% to Rs 1034, Hindalco Industries moved up 0.79% to Rs 204, National Aluminum Company rose 0.67% to Rs 466.20 and Tata Steel gained 0.67% to Rs 859.
Select PSU stocks were in demand. UCO Bank soared 8.29% to Rs 76.45, Indian Overseas Bank spurted 6.69% to Rs 198.65, Indian Bank moved up 5.43% to Rs 210.80, Mangalore Refinery & Petrochemicals rose 5.17% to Rs 135.25, and Rashtriya Chemicals and Fertilisers climbed 5% to Rs 121.60.
Energy Development Company spurted 6.45% to Rs 295.60 after the power producer said it has signed agreements to develop five hydropower projects in the north-eastern state of Arunachal Pradesh.
India’s largest listed cellular service provider by market share Bharti Airtel declined 3.71% to Rs 929.95 after rival company Reliance Communications was allocated Global System for Mobile (GSM) communications spectrum in 14 circles in India.
India’s second largest listed telecom service provider by sales Reliance Communications rose 1.47% to Rs 805.15 after the company received additional spectrum to start GSM services in 14 circles.
MIC Electronics, which makes the light-emitting diode (LED) video display system, rose 2.44% to Rs 903 after the company today, 14 January 2008, said its board has approved buying a stake of up to 51% in a power electronics firm and up to 74% in an entertainment firm.
Civil engineering and construction firm Hindustan Construction Company rose 2% to Rs 234.20 on reports the company has emerged as the lowest bidder to construct the first strategic crude reserve in India. The company is likely to be awarded the contract this week, the reports added.
At 12.10 pm, the Sensex is down 36.94 points or 0.18% at 20790.51, and the Nifty up 9.60 points or 0.15% at 6209.70.
Reliance Industries (RIL) was up 1.47% to Rs 3174 on reports the company is venturing into synthetic fuels through a $6-8 billion project that will turn coal into oil. Globally, this is called coal-to-liquid, or CTL, technology. RIL aims to produce about 80,000 barrels of oil per day through the process. The Rs 30,000 crore project will consume about 30 million tonnes of coal annually, reports suggest.
India’s largest commercial bank State Bank of India spurted 3.46% to Rs 2521 ahead of its board meeting today, 14 January 2008 to consider the bank’s planned rights issue to mobilise about Rs 16,700 crore before end-March this fiscal.
India’s largest real estate developer by market capitalisation DLF rose 2.09% to Rs 1221. Earlier on 11 January 2007, some reports suggested that DLF will soon come up with India’s first branded residential hotel with the Hilton Group in Goa. The 200-room hotel with 80 villas that will be sold out as vacation homes on lease-back basis, will be operational in three years. DLF plans to have six hotels on similar format in five years.
The BSE Metal index was up 1.20% to 18,976.31. Jindal Stainless rose 3.19% to Rs 208.85, Sterlite Industries flared up 1.19% to Rs 1034, Hindalco Industries moved up 0.79% to Rs 204, National Aluminum Company rose 0.67% to Rs 466.20 and Tata Steel gained 0.67% to Rs 859.
Select PSU stocks were in demand. UCO Bank soared 8.29% to Rs 76.45, Indian Overseas Bank spurted 6.69% to Rs 198.65, Indian Bank moved up 5.43% to Rs 210.80, Mangalore Refinery & Petrochemicals rose 5.17% to Rs 135.25, and Rashtriya Chemicals and Fertilisers climbed 5% to Rs 121.60.
Energy Development Company spurted 6.45% to Rs 295.60 after the power producer said it has signed agreements to develop five hydropower projects in the north-eastern state of Arunachal Pradesh.
India’s largest listed cellular service provider by market share Bharti Airtel declined 3.71% to Rs 929.95 after rival company Reliance Communications was allocated Global System for Mobile (GSM) communications spectrum in 14 circles in India.
India’s second largest listed telecom service provider by sales Reliance Communications rose 1.47% to Rs 805.15 after the company received additional spectrum to start GSM services in 14 circles.
MIC Electronics, which makes the light-emitting diode (LED) video display system, rose 2.44% to Rs 903 after the company today, 14 January 2008, said its board has approved buying a stake of up to 51% in a power electronics firm and up to 74% in an entertainment firm.
Civil engineering and construction firm Hindustan Construction Company rose 2% to Rs 234.20 on reports the company has emerged as the lowest bidder to construct the first strategic crude reserve in India. The company is likely to be awarded the contract this week, the reports added.
Labels: Nifty.Sensex
posted by SY at 12:56 PM
0 Comments:
Post a Comment
<< Home