|
Most
traders had read Friday's subdued trend as a clear sign
of tiredness in the markets. The indices had gained substantially
after the budget and most participants were expecting
a correction.
However, the momentum and liquidity flows are so strong
and the indices made another spectacular up-move today.
After opening firm, both the Sensex and the Nifty gained
steadily throughout the day and ended at new lifetime
highs.
The Sensex saw a new lifetime intra-day high of 10742
and the Nifty set a new high of 3194.
Sensex closed at 10735, a gain of 140 points, and the
Nifty closed higher by 43 points at 3190. Nifty March
futures closed at a discount of 4 points to the spot index.
Steel and power utility stocks were the rage today. Both
sectors had remained subdued over the last couple of months,
especially steel stocks after a decline in steel prices.
Reports of a recovery in steel prices fired the stocks
in the sector, helping SAIL to end the day as the best
performer among index stocks. The stock closed with a
massive 6 per cent gain. Tata Steel added over 4 per cent.
Aluminium stocks were also not far behind. Both Nalco
and Hindalco added over 5.5 per cent each.
What started as a minor uptrend in power utility stocks
last week after the signing of the Indo-US nuclear cooperation
agreement became a major upsurge today. Stocks like Tata
Power, Reliance Energy and NTPC gained major ground even
though any possible nuclear generation venture would take
many years to take shape.
Tata Power added close to 6 per cent while Reliance Energy
ended 3 per cent higher. NTPC gained around 3 per cent.
M&M and Ashok Leyland, which had under-performed their
peers in the auto sector last week, closed with strong
gains of over 5 per cent each today. Tata Motors maintained
its momentum and ended 2.5 per cent higher.
Pharma stocks Cipla and Ranbaxy came back into reckoning
and closed 2.5 per cent higher each.
Maruti, which had seen spectacular gains last week, saw
some correction and ended more than a per cent lower.
Bharti and MTNL, two gainers from the previous week, closed
lower.
Zee Tele, Grasim and HLL were the other major losers.
Asian markets were firm today after the mixed trend of
last week. The Japanese Nikkei ended more than 1.5 per
cent higher while the South Korean Kospi added 1.2 per
cent while. The Karachi index crashed today and ended
more than 4 per cent lower.
April crude futures are trading marginally weak at around
$63.5 per barrel in early European trades today.
Reliance Communication Ventures Limited, the holding company
of the various telecom operations of the R-ADAG group,
was
listed on the exchanges today. The stock opened at
Rs307 per share on the NSE and at Rs290 per share on the
BSE before closing at Rs291.5 on the NSE.
Reliance
Communication Ventures is seeking shareholder's nod,
through a postal ballot, for an overseas equity or similar
securities offering. The company is also raising the FII
investment limit to 74 per cent.
Tata
Motors has launched the joint retail network with
Fiat India. The two companies would share 44 retail outlets
across 11 cities. The arrangement is more significant
to Fiat as its retail network would expand substantially.
ONGC, the parent company of MRPL, has approved MRPL's
expansion plans at an investment of Rs8,000 crore. The
company would expand its refining capacity to 15 million
tonnes per annum besides upgrading the facility to produce
higher grade fuels.
Dr. Reddy's has completed the acquisition of German generic
drug company Betapharm for € 480 million in cash.
ICICI Bank has raised interest rates on auto finance by
100 basis points and on new home loans by 50 basis points.
The bank has also increased the interest rate on term
deposits by 50 basis points.
Satyam has been assessed at SEI CMM Level 5 at an enterprise
level.
HCL Technologies has been appointed as a distributor for
Asia-Pacific region for Qumus, a leading developer of
enterprise compliance, governance and risk management
solutions.
Mid-Cap Action
Mid-caps
were also firm throughout the day though select sectors
saw heavy profit booking. Sugar stocks surged in afternoon
trades and closed with substantial gains. Most of the
tea plantation stocks ended the day at lower price circuits.
The CNX Mid-Cap index gained 51 points to end the day
at 4602, a new lifetime high.
IT
services company KPIT
Cummins is set to acquire the whole of CG-Smith Software
Private Limited, based in Bangalore for Rs38 crore in
cash. CG-Smith provides automotive electronics solutions
and embedded systems for global auto manufacturers and
large auto ancillary companies
Macmillan
India has acquired the whole of US-based Interactive Composition
Corp for Rs15 crore. Interactive Composition offers publishing
services and has a total of over 300 employees, most of
them in India.
Aurobindo
Pharma has received product approval for citalopram tablets,
used for treatment of depressive disorders, in Canada.
Havells
India has received an export order from Eaton Electrical
for supply of domestic switchgear. The order is worth
$10 million.
The
board of Kopran would meet later this week to consider
an equity issue.
Elgi
Equipment is considering an equity partner who can bring
in more orders. The company is also planning expansion
plans and a new factory.
Patel
Engineering said it has submitted new bids for projects
worth a total of Rs5,500 crore. Most of these projects,
close to 60 per cent, are for hydro electric stations.
The company said its current order book is at Rs4,400
crore. Patel is also planning to enter the hydro-power
generation business.
The
boards of VIP Industries and Blow Plast would meet this
week to consider a merger. The companies are the leading
manufacturers of plastic moulded luggage in the country.
Media Video would acquire 110 acres of land in Haryana
to develop an integrated residential township at a cost
of Rs220 crore.
HB
Stockholdings, VIP Industries and Kalpataru Power were
among the major gainers in mid-caps.
Nocil,
IL&FS Investmart and Hinduja TMT were among the significant
mid-cap losers on the NSE.
*Disclaimer:
The author
may have positions in some of the stocks specifically
mentioned above at the time of writing this article. This
analysis / report is only for the purpose of information
and is not an investment advice. Readers are advised to
consult a certified financial advisor before taking any
investment decisions. While efforts have been made to
ensure the accuracy of the information provided in the
content the author or publisher shall not be held responsible
for any loss caused to any person whatsoever.
Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
10,735.36
|
+
139.93 |
| NIFTY
|
3,190.40
|
+
43.05 |
Last
Update : 6 March, 2006 16:00:16 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| ACC
|
|
|
|
683.80 |
| Bajaj
Auto |
2,725.00
|
2,763.80
|
2,724.00
|
2,727.25
|
| Bharti
Tele |
411.00
|
414.85
|
403.25
|
403.50
|
| BHEL
|
2,140.00
|
2,165.00
|
2,126.10
|
2,153.00
|
| Cipla |
555.95
|
571.00
|
552.00
|
568.75
|
| Dr
Reddys Lab |
|
|
|
1,323.50 |
| Grasim
Indus |
1,818.00
|
1,839.00
|
1,791.00
|
1,801.00
|
| Guj
Ambuja |
|
|
|
91.00 |
| HDFC
Ltd |
1,339.00
|
1,340.00
|
1,325.25
|
1,337.90
|
| HDFC
Bank Ltd |
|
|
|
760.00 |
| Hero
Honda |
889.85
|
893.00
|
881.00
|
883.00
|
| Hindalco
|
160.00
|
168.00
|
159.00
|
166.80
|
| HLL
|
244.00
|
247.60
|
242.70
|
243.40
|
| ICICI
Bank |
612.00
|
619.00
|
611.00
|
614.00
|
| Infosys |
2,835.00
|
2,872.00
|
2,825.00
|
2,860.00
|
| ITC
|
175.40
|
179.80
|
175.40
|
178.40
|
| L&T
|
2,429.45
|
2,470.00
|
2,396.00
|
2,418.20
|
| Maruti |
928.00
|
934.50
|
916.50
|
918.60 |
| NTPC
|
131.80
|
136.70
|
131.80
|
136.00
|
| ONGC
|
1,148.00
|
1,179.00
|
1,138.00
|
1,167.90
|
| Ranbaxy
|
437.00
|
452.90
|
437.00
|
447.00
|
| Rel
Energy |
638.35
|
664.90
|
638.30
|
655.00
|
| Reliance
|
716.00
|
733.70
|
715.00
|
730.80
|
| Satyam
|
798.00
|
808.40
|
795.30
|
799.00
|
| SBI
|
|
|
|
895.90 |
| Tata
Motors |
910.00
|
941.00
|
908.10
|
931.75
|
| Tata
Power |
548.80
|
592.25
|
548.00
|
575.25
|
| Tata
Steel |
461.55
|
475.00
|
455.50
|
474.00
|
| TCS
|
1,715.00
|
1,755.00
|
1,715.00
|
1,734.90
|
| Wipro
|
529.00
|
534.50
|
525.00
|
528.50
|
Last
Update : 6 March, 2006 16:02 PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
717.00
|
733.50
|
717.00
|
731.80 |
| TATAMOTORS
|
910.00
|
941.85
|
910.00
|
926.80 |
| INFOSYSTCH
|
2824.00
|
2876.90
|
2820.00
|
2851.00 |
| TATASTEEL
|
455.35
|
473.60
|
455.35
|
473.60 |
| MARUTI
|
930.00
|
933.65
|
916.25
|
918.55 |
| ITC
|
176.90
|
179.80
|
174.05
|
178.75 |
| LT
|
2467.95
|
2468.00
|
2400.00
|
2410.00 |
| REL |
639.00 |
665.40
|
638.00
|
655.05 |
| TATAPOWER
|
551.90
|
591.45
|
548.20
|
578.00 |
| M&M |
612.60 |
638.50
|
601.80
|
634.70 |
| SATYAMCOMP
|
799.00
|
809.00
|
796.30
|
802.45 |
| ONGC
|
1150.00
|
1180.00
|
1139.90
|
1169.00 |
| TCS
|
1716.00
|
1753.00
|
1710.00
|
1746.00 |
| SBIN
|
899.75
|
905.90
|
895.10
|
895.30 |
| HINDALC0
|
159.00
|
168.00
|
158.35
|
167.60 |
| SAIL
|
65.95 |
69.80 |
65.80
|
69.60 |
| ACC
|
689.80
|
696.00
|
682.40
|
682.45 |
| HINDLEVER
|
245.50
|
247.40
|
242.75
|
243.40 |
| BHARTI |
411.00 |
415.00
|
402.30
|
405.20 |
| BAJAJAUTO
|
2740.00
|
2788.00
|
2720.00
|
2725.00 |
| BHEL |
2125.25 |
2165.00
|
2125.25
|
2149.00 |
| DRREDDY
|
1325.00
|
1356.75
|
1316.55
|
1321.05 |
| GRASIM
|
1819.80
|
1840.00
|
1797.00
|
1799.00 |
| RANBAXY
|
436.00
|
452.90
|
436.00
|
446.75 |
| TATATEA
|
916.70
|
934.70
|
913.00
|
925.85 |
| MTNL
|
151.10
|
152.75
|
148.55
|
149.20 |
| HDFC
|
1320.00
|
1340.00
|
1318.30
|
1335.00 |
| ABB
|
2643.00
|
2747.30
|
2643.00
|
2715.25 |
| CIPLA
|
554.40
|
558.60
|
550.15
|
556.75 |
| ICICIBANK
|
615.00
|
618.90
|
610.25
|
613.20 |
| IPCL
|
235.00
|
239.05
|
233.75
|
238.05 |
| WIPRO
|
531.00
|
534.80
|
525.05
|
528.30 |
| VSNL
|
381.90
|
387.35
|
381.10
|
381.50 |
| HDFCBANK
|
760.00
|
764.00
|
756.00
|
760.00 |
| TATACHEM
|
248.45
|
250.55
|
246.05
|
247.25 |
| GUJAMBCEM
|
91.00 |
91.80 |
90.70
|
90.95 |
| HEROHONDA
|
888.45
|
893.00
|
884.00
|
885.00 |
| ZEETELE |
182.95 |
183.00
|
179.00
|
180.75 |
| NATIONALUM
|
287.00
|
297.90
|
281.00
|
295.15 |
| GAIL
|
278.00
|
281.65
|
277.00
|
278.60 |
| GLAXO
|
1378.00
|
1400.00
|
1372.25
|
1377.00 |
| PNB
|
449.00
|
452.40
|
447.20
|
451.25 |
| DABUR
|
116.50
|
118.65
|
116.50
|
117.90 |
| HCLTECH
|
628.00
|
636.00
|
618.00
|
635.75 |
| SUNPHARMA
|
791.90
|
798.00
|
784.05
|
787.00 |
| JETAIRWAYS
|
994.00
|
1000.00
|
983.00
|
995.10 |
| HINDPETRO
|
324.80
|
330.50
|
324.80
|
329.55 |
| ORIENTBANK
|
238.00
|
240.95
|
237.35
|
237.90 |
| BPCL
|
424.80
|
430.95
|
424.80
|
425.20 |
| SCI
|
152.00
|
153.00
|
150.05
|
150.25 |
Last
Update : 6 March, 2006 16:00PM
|
|
