Live_wire's Info Thread

[live_wire]

Bulls surpass Bears on the last day of 2010

As per provisional figures, the BSE 30-share Sensex was up 93.39 points or 0.46% to 20,482.46. The Sensex rose 162.96 points at the day's high of 20,552.03 in afternoon trade, its highest level since 12 November 2010. The index gained 23.69 points at the day's low of 20,412.76 in early trade.

The S&P CNX Nifty was up 25.45 points or 0.42% to 6,127.30 as per provisional figures. The Nifty hit high of 6,147.30 in afternoon trade, its highest level since 12 November 2010.

The BSE Mid-Cap index rose 1.13% and the BSE Small-Cap index advanced 1.18%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 2,000 shares rose while 960 shares declined. A total of 89 shares remained unchanged.

Among the 30-member Sensex pack, 22 rose while the rest declined.

BSE clocked turnover of Rs 3382 crore, lower than Rs 3533.03 crore on Thursday, 30 December 2010.

Index heavyweight Reliance Industries (RIL) rose 0.7%, with the stock gaining for the third straight day. RIL's advance tax payment reportedly surged 42.8% to Rs 1191 crore in Q3 December 2010 over Q3 December 2009.

Consumer durables stocks edged higher. Blue Star, Titan Industries and Videocon Industries rose by between 0.02% to 2.25%.

Reliance Communications jumped 5.03% on reports the company can restart providing video calls in the new year as part of its 3G services. The stock was the top gainer from the Sensex pack.

Auto stocks edged higher ahead of the release of the monthly sales data for December 2010 starting from 1 January 2011. Bajaj Auto, Ashok Leyland, M&M, Maruti Suzuki India and Tata Motors rose by 0.17% to 4.08%.

Bank stocks rose as some prominent banks paid higher advance tax in the third quarter, indicating good Q3 December 2010 result. India's second largest private sector bank by market capitalization HDFC Bank gained 1.85%.

India's largest commercial bank in terms of branch network State Bank of India (SBI) gained 2.01%. State Bank of India is planning to mop up Rs 10000 crore in various tranches in the remaining period of the current fiscal year that ends in March 2011 and the next fiscal year that will end in March 2012 through public issue of subordinated bonds (lower tier-II bonds).

India's largest private sector bank by market capitalisation ICICI Bank rose 0.17%, with the stock gaining for the third straight day. The private sector bank's advance tax payment reportedly surged 49.5% to Rs 450 crore in Q3 December 2010 over Q3 December 2009.

Realty stocks edged higher for the second day in a row. Ackruti City, DLF, HDIL and Indiabulls Real Estate rose by between 0.52% to 4.15%.

Sugar stocks fell on reports the government will slap 60% import duty on sugar from 1 January 2011. Bajaj Hindutha, Balrampur Chini and Shree Renuka Sugars declined by between 1.84% to 2.26%.

The government had dropped 60% import duty on sugar in early 2009 to overcome an acute domestic supply shortage, triggered by the worst drought in four decades. The duty free notification lapses on 31 December 2010.

Aviation stocks jumped as crude oil fell most in a month to settle below $90 a barrel level on New York Mercantile Exchange on Thursday, 30 December 2010, as a US government report showed smaller than forecast drop in inventories. Kingfisher Airlines, Jet Airways and SpiceJet rose by between 3.52% to 4.34%. Jet fuel prices are linked to the prices of crude oil. Jet fuel constitute more than 50% of operating cost of airliners.

Global Markets:

European bourses traded lower on the last session of the year. France's CAC 40 declined 0.37% and UK's FTSE 100 fell 0.23%. German markets were closed ahead of New Year celebrations. London and the rest of European markets will close around midday.

Asian stocks rose on Friday, 31 December 2010, on positive economic data in the US, the world's biggest economy. The key benchmark indices in China, Hong Kong and Taiwan rose by between 0.16% to 1.76%. Singapore's Straits Times fell 0.70%. Stock markets in Japan, Indonesia and South Korea were closed.

 

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Corporate news: SBI aims to raise Rs.10k cr; ADAG's re-branding plan

State Bank of India is planning to mop up Rs 10,000 crore in various tranches in the remaining period of the current fiscal year that ends in March 2011 and the next fiscal year that ends in March 2012 through public issue of subordinated bonds (lower tier-II bonds). The first tranche of the new public issue of bonds will have a core issue size of Rs 1000 crore with an option to retain oversubscription up to Rs 1000 crore. Besides, the bank will also have the option to retain any amount of oversubscription under the retail category beyond Rs 2000 crore but up to the rated amount of Rs 10,000 crore. \

Reliance Communications can restart providing video calls in the new year as part of its 3G services. The government has reportedly approved telecom operators' video calls facility after operators gave an undertaking that within the next six months, they would start providing real-time interception of video calls. Video calls are interactive calls where the callers can view each another on mobile phones or computer displays.

Anil Dhirubhai Ambani Group is rebranding all its businesses as 'Reliance group' rather than maintaining individual identities for each service. As a result of the new branding exercise, the group will lose the small ADAG (Anil Dhirubhai Ambani Group) tagline in several of its current logos. Sanjay Behl, head of marketing and branding of Reliance ADAG was quoted by the media as saying that the company has dropped 'ADA' from the master brand to bring about transition from multiple powerful Reliance subbrands to a singular iconic master-brand 'Reliance'.

Citigroup Global and Goldman Sachs plan to buy about 5% stake in the Reliance Broadcast Network for Rs 35 crore. As part of the investment plan Citigroup will buy 2.8% in the company and Goldman will buy 2.1%, reports suggest. According to reports, the deal needs Foreign Investment Promotion Board approval. Reliance Broadcast, formerly Reliance Media World, had received approval to raise Rs 400 crore by issuing shares on a preferential basis to promoters and financial investors earlier this year. The company, that runs radio channel Big FM, requires the funds for expansion for all its businesses. The fresh cash would also help de-leverage the company.

Hindustan Copper's chairman and managing director S Ahmed told the media that as per the draft red herring prospectus for the follow on public offer (FPO), Rs 100 is the floor price. However, actual price band for the offer will be decided by the empowered group of ministers.

RPP Infra Projects plans to set up a five megawatt solar power plant at Kamudhi in Ramanathapuram district in Tamil Nadu, with a total investment of Rs 80 crore. It will utilize crystalline technology for producing power by solar energy and plans to commence the operation in the financial year that ends in March 2012 (FY 2012).

 

[live_wire]

IT stocks edge lower ahead of Infosys results

Volatility continues to haunt the market as indices pare gains in early afternoon trade after a steep intra-day rally earlier in the day. IT stocks decline on profit booking ahead of sector bellwether Infosys' Quarterly earnings on 13 Jan11 while Metal & Banking stocks are in demand. Index heavyweights, RIL & Bharti are marginally up; ITC decline on high volume triggered by a large bulk deal.


At 11:25 IST, the BSE 30-share Sensex was up 114.56 points or 0.60% to 19,338.68. The Sensex gained 207.44 points at the day's high of 19,431.56 in early trade. The index lost 25.98 points at the day's low of 19,198.14 in morning trade.

The S&P CNX Nifty was up 39.65 points or 0.69% at 5,802.50.

The market breadth was positive, having swung between positive and negative zone earlier in the day. On BSE, 1395 shares advanced while 1059 shares declined. A total of 96 shares remained unchanged.

The total turnover on the BSE amounted to Rs 1596 crore by 11:25 IST compared with Rs 959 crore by 10:25 IST

Among the 30-member Sensex pack, 25 gained while the rest slipped. ONGC (up 2.22%), Bhel (up 1.94%), and Reliance Communications (up 2.56%), edged higher from the Sensex pack.

Index heavyweight Reliance Industries (RIL) gained 1.5% to Rs 1046.30 on reports the company is looking to acquire some of the upstream oil and gas assets of British energy major BP Plc in the far east and Australia. The two companies have had several rounds of talks on the issue.

India's largest software services exporter by sales Infosys lost 0.96% to Rs 3368, ahead of its Q3 December 2010 results on Thursday, 13 January 2011. It was the top loser from the Sensex pack. The stock had hit a record high of Rs 3,493.95 on 7 January 2011. Analysts expect sequential growth in revenue and net profit of the IT bellwether in Q3 December 2010, primarily driven by volume growth and operational efficiencies.

For the IT sector, the negative impact of a surge in the rupee against the dollar could be offset by a favourable cross-currency movement during the quarter. On average basis during the quarter, the rupee appreciated 3.3% verses the dollar. On the flip side, there could be seasonal weakness in terms of fewer working days on account of Diwali, Thanksgiving and Christmas holidays during the quarter.

Other software pivotals were also subdued ahead of Infosys' earnings. India's largest software services exporter by sales TCS shed 0.88% while India's third largest software services exporter by sales Wipro declined 0.09%.

Hexaware Technologies fell 1.96%. The company's board recommended a liberal 1:1 bonus issue. Hexaware announced the outcome of the board meeting before trading hours today, 11 January 2011.

Banking stocks edged higher in choppy trade, reversing recent slide triggered by concerns higher deposits rates may impact banks' net interest margins, thereby hurting profitability. India's second largest private sector bank by net profit HDFC Bank gained 1.54% to Rs 2188, off day's low of Rs 2126.10

India's largest private sector bank by net profit ICICI Bank rose 1.30% to Rs 1027.50, after declining to an intra-day low of Rs 1002.55. India's largest bank by net profit and branch network State Bank of India advanced 2.09% to Rs 2601.15, after striking an intra-day low of Rs 2540.

Bank of India (up 0.80%) and Punjab National Bank (up 0.42%) gained. Bank of Baroda fell 0.08%.

India's largest private sector aluminium maker by sales Hindalco Industries surged 3.52% to Rs 230.65 and was the top gainer from the Sensex pack. The stock rose on bargain hunting after correcting 11.14% in the preceding two trading sessions.

Most auto stocks gained on bargain hunting, halting a recent decline triggered by worries that higher interest rates and rising vehicle prices may dent demand for vehicles. India's largest tractor maker by sales Mahindra & Mahindra rose 0.14%, ending five-day 7.35% slide.

India's largest car maker by sales Maruti Suzuki India fell 0.80%, extending four-day 7.11% decline.

India's top truck maker by sales Tata Motors gained 0.15%, halting a five-day 9.81% fall.

India's second largest motorcycle maker by sales Bajaj Auto advanced 3%, reversing a steep 18.04% slump in six prior trading days.

India's top bike maker by sales Hero Honda Motors rose 1.42%, ending a 9.40% decline in previous seven trading sessions

India's largest cigarette maker by sales ITC surge 0.5% to Rs 171 after a large bulk deal of 27.48 lakh shares was struck on the counter at Rs 170.75 per share at 12:00 IST on the BSE.

Reliance Power rose 1.20% after it signed the power purchase agreement with the state-owned NTPC for its upcoming 100 megawatt solar power project at Jaisalmer in Rajasthan.

APW President Systems jumped 5% at Rs 173.60 after France-based Schneider Electric made an open offer for 20% stake in the company at Rs 195 per share. The open offer price is 12.32% premium over the ruling market price. The open offer was announced during trading hours today, 11 January 2011.

 

[live_wire]

Birla Corporation builds on expansion plan

Birla Corporation gained 1.52% to Rs 354 at 14:24 IST on BSE, after the company signed a memorandum of understanding with Assam state government to set up one million tonnes greenfield cement plant at Umrangsu in Assam at a cost of Rs 450 crore.

Meanwhile, the BSE Sensex was down 312.15 points, or 1.60%, to 19,221.95. On BSE, 2,001 shares were traded in the counter compared with the average volume of 8,465 shares in the past one quarter.

The stock hit a high of Rs 357 and a low of Rs 345.05 so far during the day. The stock had hit a 52-week high of Rs 448 on 1 November 2010 and a 52-week low of Rs 314 on 10 December 2010.

The mid-cap stock had outperformed the market over the past one month till 12 January 2011, rising 1.41% compared with the Sensex's return of 0.13%. It had underperformed the market in past one quarter, declining 18.15% as against Sensex's 3.31% fall.

The company has an equity capital of Rs 77.01 crore. Face value per share is Rs 10.

In a statement to BSE, Birla Corporation said that the proposed one million tonnes cement plant will be set up through a joint venture company.

Birla Corporation's net profit slumped 54.6% to Rs 68.97 crore on 4.2% fall in net sales to Rs 484.30 crore in Q2 September 2010 over Q2 September 2009.

The company made this announcement during trading hours today, 13 January 2011.

 

[live_wire]

HDFC Q3 net profit up 33% at Rs 891 cr

HDFC posted its net profit for the third quarter FY11 at Rs 891 crore , up 33% compared to the profits in the same quarter a year ago (671.3 crore).

Total Income was posted at Rs 3321 crore, up 20.24% compared to the same quarter income last year (Rs 2762 crore) as filed on the Bombay Stock Exchange (BSE).

The income from operations grew up 16.37% at Rs 3149 crore as agianst last year's third quarter figures (Rs 2706 crore).

 

[live_wire]

Sensex sheds close to 1800 pts in current year

Domestic bourses close the session with extreme losses as the benchmark indices breach their psychological levels of 19k and 5,700. All the sectoral Indices on BSE close in the red; Metal, Realty & Banking sectors tumble nearly 2.5%. Tata Coffee shows a divergent trend and closes with 20% gains at Rs 557, on signing a deal with U.S giant, Starbucks, for supply of coffee beans & for coffee roasting facilities.

Indian markets ended on a negative note on back of selling pressure in rate sensitive stocks after headline Inflation for the month of December surged to 8.43% raising expectations that RBI will raise rates.

Nifty edged lower to 5,696 in the morning session dragged by losses in metal shares after Steel Authority of India (SAIL) reported dissapointing Q3 results. The index rebounded in noon trades and scaled to day's high of 5,834, however due to selling pressure in rate senstive realty and auto stocks, the index plunged into the negative and ended at 5,654, down 106 points. The Sensex dipped below 19,000 first time since November to 18,860, down 323 points.

At 14:20 IST, The market breadth, indicating the health of the market, was positive. On BSE, 1,517 shares advanced while 1,247 shares declined. A total of 106 shares remained unchanged. The breadth was negative earlier in the day.

Among the 30-member Sensex pack, 22 advanced while the rest declined. Jindal Steel & Power, Wipro and Tata Power Company rose by between 1.74% to 2.43%.

Index heavyweight Reliance Industries (RIL) fell 0.32% to Rs 1012. The stock came off the day's high of Rs 1028.95. As per recent reports, gas production from RIL's D6 block in Krishna-Godavari basin has dropped to 52-53 million metric standard cubic metres a day (mmscmd) from 60 mmscmd last October. RIL owns 90% in the D6 block, off the east coast, while Canada's Niko Resources holds the remainder.

Mortgage lender HDFC fell 2.48% to Rs 650.05 in choppy trade after Q3 results. The stock hit a high of Rs 679.25 and low of Rs 649.55. Net profit increased 32.7% to Rs 890.88 crore on 20.23% rise in total income to Rs 3321.04 crore in Q3 December 2010 over Q3 December 2009. The results hit the market during trading hours today, 14 January 2011.

Banking stocks were volatile as rate of rise in inflation accelerate in December 2010. India's largest bank by net profit and branch network State Bank of India (SBI) fell 1.12% to Rs 2532. The stock came off the day's high of Rs 2587.95.

India's second largest private sector bank by net profit HDFC Bank fell 0.97% to Rs 2121.35. The stock came off the day's high of Rs 2204. India's largest private sector bank by market capitalisation ICICI Bank rose 0.15% to Rs 1028.90. The stock came off the day's high of Rs 1052.80.

IT bellwether Infosys rose 0.17% to Rs 3217.90 on bargain hunting after the stock slumped almost 5% on Thursday after posting disappointing Q3 result and as its earnings and revenue outlook for Q4 March 2011 disappointed investors. But, the stock came off the day's high of Rs 3277. The company's consolidated net profit rose 2.5% to Rs 1,780 crore on 2.3% rise in revenues to Rs 7106 crore in Q3 December 2010 over Q2 September 2010 as per International Financial Reporting Standards. The result was announced before trading hours on Thursday.

India's largest software company by sales TCS gained 1.56% after declining 1% on Thursday. The company unveils its Q3 December 2010 results on 17 January 2011. India's third largest IT exporter by sales Wipro rose 2.2% after sliding 2.67% on Thursday. The company announces its Q3 December 2010 results on 21 January 2011.

FMCG stocks rose on bargain hunting. ITC, Dabur India, Marico, Hindustan Unilever and United Spirits rose by between 0.64% to 2.57%.

Auto stocks declined on worries higher interest rates and hike in vehicle prices could dent demand for vehicles. India's largest truck maker by sales Tata Motors declined 2.46%. India's largest car maker by sales Maruti Suzuki India shed 1.38%. India's top bike maker by sales Hero Honda Motors fell 0.19%. India's second largest motorcycle maker by sales Bajaj Auto shed 0.29%. But, India's leading tractor maker by sales Mahindra & Mahindra rose 1.07%.

Magma Fincorp surged 3.98% after consolidated net profit jumped 83.52% to Rs 32.19 crore on 27.76% rise in income from operations to Rs 212 crore in Q3 December 2010 over Q3 December 2009.

 

[live_wire]

Tata Coffee scales record high after pact with Starbucks

The company stock had jumped 20% to Rs 555.70 on Friday, 14 January 2011, boosted by the announcement made after market hours on Thursday, 13 January 2011.

Meanwhile, the BSE Sensex was up 77.54 points, or 0.41%, to 19,837.98. On BSE, 19.07 lakh shares were traded in the counter compared with average volume of 67,000 shares over the past two weeks.

The stock hit a high of Rs 666.80, which is an all-time high for the counter. The stock hit a low of Rs 567.50 so far during the day.

Starbucks is the world's biggest coffee chain managing over 16,000 stores and operates in more than 50 countries. Tata Coffee said the alliance with Starbucks is with respect to the US coffee giant entering retail operations in India and also for other Asian countries. The memorandum of understanding (MOU) with Starbucks also envisages discussions and evaluating appropriate opportunities across suitable businesses of associate Tata companies in the food and beverage categories, Tata Coffee said.

Tata Coffee's consolidated net profit rose 12.7% to Rs 10.05 crore on 5.1% fall in net sales to Rs 298.73 crore in Q2 September 2010 over Q2 September 2009.

 

[live_wire]

Volatile market ends flat; ADAG stocks tumble more than 5%

Indices trade lackluster today as Sensex moves in the range of 200 pts & Nifty also trades within 70 pts during the day; and finally both the indices settle marginally above the base line. Barring the Banking, IT & FMCG sectors, all the other sectoral Indices on BSE close in red. Bank of India & HDFC are amongst the top gainers whereas ADAG stocks are the main laggards.

Markets ended a range bound session of trade on a flat note. Weak cues from Asia and losses in realty and capital goods shares weighed on the markets.

Sensex opened marginally higher at 18,911 and traded in a 330 points range. Weakness in Asian markets especially Chinna's Shanghai Composite nose dived 3% on policy concerns put investors to the sidelines. Markets ended flat, the Sensex was up 21points, at 18,882 and the Nifty was up 0.2 points at 5655 .

At 14:20 IST, Index heavyweight Reliance Industries (RIL) was flat at Rs 1001.10. The stock hit high of Rs 1005.60 and low of Rs 992.40 so far during the day. As per recent reports, gas production from RIL's D6 block in Krishna-Godavari basin has dropped to 52-53 million metric standard cubic metres a day (mmscmd) from 60 mmscmd last October. RIL owns 90% in the D6 block, off the east coast, while Canada's Niko Resources holds the remainder.

Sterlite Industries, Hindustan Zinc, Jindal Steel & Power and Steel Authority of India fell by between 0.64% to 2.3%.

JSW Steel jumped 1.93% on reports the company has bought assets of Bellary Steel for Rs 210 crore.

IT stocks rose on a weaker rupee. Investors' optimism over the US economic recovery after US retail sales data showed a slight increase in December 2010, aided gains in IT shares. US is the key market for Indian IT firms. IT bellwether Infosys rose 1.46%, on bargain hunting, recovering from last two days' losses triggered by disappointing Q3 result and as its earnings and revenue outlook for Q4 March 2011 disappointed investors. Consolidated net profit rose 2.5% to Rs 1,780 crore on 2.3% rise in revenues to Rs 7106 crore in Q3 December 2010 over Q2 September 2010 as per International Financial Reporting Standards. The result was announced before trading hours on Thursday.

India's largest software company by sales TCS rose 1.93% ahead of its Q3 December 2010 results today, 17 January 2011. India's third largest IT exporter by sales Wipro rose 0.63%. The company announces its Q3 December 2010 results on 21 January 2011.

A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports. The Indian rupee hit its lowest level in a month on Monday tracking weak regional peers and a choppy domestic share market, which raised concerns foreign funds would continue to repatriate funds. The partially convertible rupee was at 45.56/58 per dollar below its close of 45.37/38 on Friday, 14 January 2011

Interest rate sensitive realty stocks declined on worries higher interest rates could dent demand for residential and commercial properties. DLF, Indiabulls Real Estate, Unitech and HDIL shed by between 0.26% to 3.17%.

M&M declined 0.35% after the $7.1 billion Mahindra Group, today announced a new brand position -- Rise. This is the first time that Mahindra as a group, which spans from aerospace to automotive, from farm equipment to IT and logistics, will communicate with one brand voice, one face and one 'Mahindra' fore purpose, M&M said in a statement.

Kavveri Telecom Products surged 7.43%, after the company said its board will meet on 2 February 2011 for issuing shares and warrants on preferential basis to promoters and non promoters.

IndusInd Bank fell 0.83%. The bank announced during market hours today its net profit jumped 74.76% to Rs 153.86 crore in Q3 December 2010 over Q3 December 2009.

 

[live_wire]

Sensex closes above 19k mark; Exide Ind tumbles 11%

The markets surged in late noon trading to cap a firm session of trade, sans the volatility of the previous two weeks and the choppiness that marked the trading activity on Monday. Arresting the downtrend, atleast for now, the Sensex regained the 19k mark and made further inroads to end at 19106, higher by 224 points, and the Nifty ended at 5699, up 44 points. On the broader market front, the midcap index ended at 7137, up 14 points and the smallcap index ended at 8880, up 12 points.

The BSE 30-share Sensex jumped 209.80 points or 1.11% to 19092.05. The index surged 238.37 points at the day's high of 19,120.62 in late trade. The index rose 51.22 points at the day's low of 18,933.47 in mid-morning trade.

The S&P CNX Nifty was up 69.30 points or 1.23% at 5,724.05.

The BSE Mid-Cap index rose 0.45%. The BSE Small-Cap index gained 0.28%. Both these indices underperformed the Sensex.

Barring the BSE Oil & Gas index, all the other sectoral indices on BSE rose. The IT index (up 2.6%), Metal index (up 2.31%), Healthcare index (up 1.64%), FMCG index (up 1.52%), banking sector index Bankex (up 1.43%), and Consumer Durables index (up 1.3%), outperformed the Sensex. The BSE PSU index (up 0.57%), Auto index (up 0.44%), Realty index (up 0.31%), Capital Goods index (up 0.19%), Power index (up 0.02%) and Oil & Gas index (down 0.12%), underperformed the Sensex.

The market breadth, indicating the health of the market, was positive. On BSE, 1517 shares advanced while 1367 shares declined. A total of 117 shares remained unchanged. The breadth was much stronger earlier in the day.

Among the 30-member Sensex pack, 23 gained while the rest declined.

BSE clocked turnover of Rs 3033 crore, lower than Rs 3051.87 crore on Monday, 17 January 2011.

Index heavyweight Reliance Industries (RIL) was down 0.32% to Rs 994.60. The stock came off the day's high of Rs 1007.50. Reliance Industries and US-based Atlas Energy are reportedly exploring options for expanding their shale gas joint venture to new geographies including Canada and Australia. RIL announces Q3 result on Friday, 21 January 2011.

GAIL (India) fell 0.9% after Q3 results. Net profit rose 12.52% to Rs 967.63 crroe on 34.9% rise in total income to Rs 8574.21 crore in Q3 December 2010 over Q3 December 2009. The result hit the market during trading hours today.

India's largest steel maker by sales Tata Steel rose 1.53%. Notwithstanding the weak market conditions, Tata Steel has decided to go ahead with its follow on public offer (FPO). The issue opens on bidding on Wednesday, 19 January 2011 and closes on Friday, 21 January 2011. The price band for the FPO has been set at Rs 594-610 a share. The anchor book for the FPO opens today, 18 January 2011.

Most other metal shares rose. JSW Steel, Sterlite Industries, Hindalco Industries, Jindal Steel & Power and Steel Authority of India rose by between 2.09% to 4.42%.

FMCG stocks rose on bargain hunting. ITC, Hindustan Unilever, Dabur India and Marico rose by between 0.08% to 2.53%.

Consumer durables stocks, too, edged higher. Blue Star, Rajesh Exports, Videocon Industries, Titan Industries and Gitanjali Gems rose by between 0.84% to 5.65%.

TCS jumped 5.48% and was the top gainer from the Sensex pack after reporting forecast-beating Q3 result. The stock hit record high of Rs 1,207 today. On a consolidated basis, net profit rose 9.25% to Rs 2369.83 crore on 5.35% increase in total income to Rs 9857.56 crore in Q3 December 2010 over Q2 September 2010. The result was announced after trading hours on Monday, 17 January 2011

TCS said it expects strong demand for outsourcing services. TCS chief executive N. Chandrasekaran said that the macroeconomic condition continues to be very dynamic. He said that despite those conditions, customers are planning growth. He added that the company expects the demand environment and momentum forward to be pretty good.

TCS chief financial officer S. Mahalingam said pricing and productivity were improving. TCS continues to live with currency volatility, but the company leveraged strong cost management efforts to sustain margins.

India's third largest IT exporter by sales Wipro rose 2.79%. The company announces its Q3 December 2010 results on 21 January 2011.

IT bellwether Infosys rose 1.54%, reversing initial losses triggered by reports the income tax department has raised a demand of Rs 400 crore, as it has refused to acknowledge onshore services as software exports. The Infosys stock had tumbled late last week on disappointing Q3 result and as its earnings and revenue outlook for Q4 March 2011 disappointed investors. Consolidated net profit rose 2.5% to Rs 1,780 crore on 2.3% rise in revenues to Rs 7106 crore in Q3 December 2010 over Q2 September 2010 as per International Financial Reporting Standards. The result was announced before trading hours on Thursday 13 January 2011.

Interest rate sensitive banking stocks rose on bargain hunting after recent sharp losses. India's largest bank by net profit and branch network State Bank of India (SBI) rose 1.59%. India's second largest private sector bank by net profit HDFC Bank gained 1.61%. India's largest private sector bank by market capitalisation ICICI Bank rose 1.03%.

Axis Bank jumped 4.21%, extending Monday's 2.18% gains, as net profit rose 35.88% to Rs 891.36 crore on 28.78% increase in total income to Rs 4986.02 crore in Q3 December 2010 over Q3 December 2009. The result was announced during trading hours on Monday, 17 January 2011.

Some interest rate sensitive realty shares edged lower on worries higher interest rates could dent demand for residential and commercial properties. Ackruti City, DLF, and HDIL shed by between 0.1% to 1.53%

India's top engineering and construction firm by sales Larsen & Toubro rose 0.14%, reversing initial losses. The stock had lost 1.65% on Monday as its operating margin in the third quarter declined to 10.8% from 12.4% in Q3 December 2009. The company said profit after tax, excluding exceptional and extra-ordinary rose 16% to Rs 811 crore in Q3 December 2010 over Q3 December 2009. The company announced the results during market hours on Monday, 17 January 2011.

The order book of Rs 114882 crore at end December 2010 is 3.13 times the company's year ended March 2010 sales of Rs 36675.15 crore, giving strong revenue visibility.

Auto shares rose on bargain hunting after a recent decline triggered by worries higher interest rates and vehicle prices could dent demand. India's largest truck maker by sales Tata Motors rose 1.58%. The company's global sales surged 21% to 90,294 units in December 2010 over December 2009. On a sequential basis, however, sales were up 13%. Sales growth was led by strong 29% and 13% growth in the commercial and passenger vehicles segments, respectively.

While Jaguar sales declined 10% to 4,332 units, Land Rover sales posted 4% growth to 17,021 units. Meanwhile, as per media reports, Tata Motors has bagged an order to sell 4,000 Jaguar and 36,000 Land Rover in China in 2011.

India's second largest motorcycle maker by sales Bajaj Auto rose 2.16%. The company announces Q3 result tomorrow, 19 January 2011.

India's leading tractor maker by sales Mahindra & Mahindra gained 1.23%. The $7.1 billion Mahindra Group on Monday announced a new brand position -- Rise. This is the first time that Mahindra as a group, which spans from aerospace to automotive, from farm equipment to IT and logistics, will communicate with one brand voice, one face and one 'Mahindra' fore purpose, M&M said.

India's largest carmaker by sales Maruti Suzuki India rose 0.38%. India's top bike maker by sales Hero Honda Motors fell 0.17%.

Reliance Infrastructure declined 4.53%, extending Monday's 7.84% slump after the Securities and Exchange Board of India (Sebi) late last week passed a consent order with regard to its probe into possible violation of securities market norms by two Anil Dhirubhai Ambani group (ADAG) companies -- Reliance Infrastructure (R-Infra) and Reliance Natural Resources (RNRL).

As per the conditions of the settlement, the two ADAG firms -- R-Infra and RNRL would not be able to invest in any listed shares in the secondary market, other than mutual funds, until December 2012 and the individuals named in the case, which includes ADAG chairman Anil Ambani, cannot invest in secondary market untill December 2011. However, this condition will not apply to primary market issuances, buybacks and open offers. RNRL has been merged with Reliance Power.

Comfort Intech clocked highest volume of 1.29 crore shares on BSE. Cals Refineries (1.13 crore shares), Spectacle Infotek (79.68 lakh shares), BAMPSL Securities (63.91 lakh shares) and Suzlon Energy (58.19 lakh shares) were the other volume toppers in that order.

Adani Enterprises clocked highest turnover of Rs 181.18 crore on BSE. State Bank of India (Rs 89.15 crore), Reliance Infrastructure (Rs 82.11 crore), TCS (Rs 81.09 crore) and Exide Industries (Rs 72.50 crore) were the other turnover toppers in that order.

 

[paipmepsyjeks]

Introducing myself

Hey i'm Hamstergirl; been around exchange for nearly a year but not in a million years stumbled on this forum in the past