|
The pullback in global equity markets was so strong that
even lacklustre results from Reliance Industries could
not dampen the improved sentiment today. The indices opened
strong and gained strength, despite modest gains in Reliance.
Sensex
crossed 10300 in morning trades and the Nifty bounced
back to over 3000. Both indices managed to hold on to
their gains and close near the day's highs.
Today's
rally was led by a host of sectors like banking, autos,
oil and engineering. Technology stocks also picked up
strength and closed with good gains.
Sensex
closed with gains of 346 points at 10353 and the Nifty
closed higher by 90 points at 3023. Nifty July futures
closed at a discount of just 1 point to the spot index.
Banking
stocks were in the forefront of today's rally, especially
PSU banking stocks. An end to interest rate hikes would
considerably help the banks to sustain credit growth and
protect margins.
OBC
was the biggest gainer among index stocks, closing 7.5
per cent higher. PNB added close to 6.5 per cent while
SBI rallied over 5 per cent.
Among
private sector banks, ICICI Bank gained over 5 per cent
while HDFC Bank closed with gains of over 4 per cent.
Some
of the stocks, which were beaten down badly over the last
week, rallied in afternoon trades. Jet Airways recovered
smartly and ended with gains of 6.5 per cent.
Suzlon
Energy soared and ended with gains of over 7 per cent,
regaining most of the losses over the last three sessions.
Select
metal stocks found good interest in afternoon trades.
Tata Steel added close to 6 per cent while Hindalco added
over 5.5 per cent.
Reliance
Industries opened with strong gains, but gave up part
of the gains as the results failed to enthuse the markets.
The stock finally ended with gains of less than 1.5 per
cent.
ONGC
closed with gains of over 1.5 per cent. Among other oil
stocks, HPCL added close to 6 per cent and BPCL closed
nearly 4 per cent higher.
Among
tech stocks, Satyam soared nearly 5 per cent while Infosys,
TCS and Wipro ended with gains of over 2.5 per cent each.
Ranbaxy
was another major gainer, closing more than 7 per cent
higher. Dr Reddy's closed more than 4 per cent higher.
Among
other major gainers, Reliance Energy added over 6.5 per
cent and Tata Tea ended with gains of over 5.5 per cent.
Gail
India was the only loser among index stocks, giving up
part of yesterday's gains. The stock ended nearly a per
cent lower.
Large-cap
news flow
- The
board of Kotak Mahindra Bank has approved the
de-merger of trading and primary dealership division
of Kotak Mahindra Capital (KMCC) into the bank. The
trading & clearing services and strategic investments
of Kotak Mahindra Securities would be de-merged into
KMCC. The board has also approved the conversion of
5 indirect subsidiaries into direct subsidiaries.
Mid-Cap
Action
Smaller
stocks under performed the larger stocks, as they could
not gain the strong momentum seen in frontline stocks.
The CNX Mid-Cap index gained 57 points, or 2.12 per cent,
to end the day at 3716. Market breadth on the NSE was
very positive throughout the session.
BSE
Mid-cap index gained 1.3 per cent while the BSE small-cap
index ended with gains of 1.27 per cent.
Some
of the larger mid-caps found good buying interest today.
Bajaj Hindustan added 17 per cent while IndiaBulls rallied
close to 9 per cent.
Sonata
Software, Bihar Caustic, Aurionpro Solutions, Shreyas
Shipping, Sesa Goa, Supreme Industries and UTV Software
were among the major gainers in mid-caps on the NSE.
Magma
Leasing, KPIT Cummins, Jagran Prakashan, Raymond, Prime
Focus and Bharti Shipyard were among the significant mid-cap
losers on the NSE.
Mid-cap
news flow
- Aurionpro
Solutions has acquired a US-based IT company for
an undisclosed amount. The target company had revenues
of over $90 million and employee strength of around
90. The acquisition would be funded through a mix of
cash and stock.
- TNPL
said its mill development plan would be completed
within a year. The company is spending Rs565 crore to
augment pulp capacity from 520 tonnes per day to 800
tonnes per day. Paper manufacturing capacity would rise
to 2.45 lakh tonnes per annum from 2.3 lakh. The company
is also implementing plantation activities in 10,000
acres to augment pulpwood supplies.
- Hanil
Era Textiles has entered the home textiles segment.
The company has expanded its fabric making capacity
and is currently operating 72 looms.
- JRG
Securities has entered into a JV agreement with
Keynote Corporate Services to distribute financial products.
-
Havells India would form a fully owned subsidiary
in Cyprus to explore acquisition of Greek companies.
- Glenmark
Pharma has received final US FDA approval for an
osteoarthritis drug in tablet form. The company would
soon start marketing the drug, which has a market size
of around $935 million, in the US.
- Gateway
Distriparks has floated a fully owned subsidiary
to manage the container train business.
- Patni
Computer has entered into a strategic alliance with
a leading business process management solutions company
to offer BPM solutions across various verticals.
- Bank
of Mahrashtra would raise up to Rs250 crore from
a tier-II subordinated bond issue and an additional
Rs650 crore from an upper tier-II capital bond issue.
- Cadila
Healthcare has received US FDA approval for a pain
management drug. The company said market potential for
the
drug is around $1.25 billion.
- PVR
said it would open two more cinema screens in Gurgaon,
near Delhi, taking the total number of screens to 70.
*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
|
10,352.94
|
+345.60
|
| NIFTY
|
3,023.05
|
+90.30
|
Last
Update : 20 July, 2006 16:00:00 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| ACC
|
801.00
|
819.80
|
793.90
|
813.40
|
| Bajaj
Auto |
2,415.00
|
2,520.00
|
2,415.00
|
2,499.85 |
| Bharti
Tele |
359.50
|
370.00
|
358.25
|
364.10
|
| BHEL
|
1,800.00
|
1,852.10
|
1,800.00
|
1,812.50
|
| Cipla |
|
|
|
217.75 |
| Dr
Reddys Lab |
1,265.00
|
1,280.00
|
1,250.00
|
1,263.65
|
| Grasim
Indus |
1,951.00
|
1,995.00
|
1,947.00
|
1,977.05
|
| Guj
Ambuja |
102.00
|
105.50
|
101.80
|
103.45
|
| HDFC
Bank Ltd |
710.00
|
738.80
|
706.00
|
726.60
|
| HDFC
Ltd |
|
|
|
1,079.75 |
| Hero
Honda |
|
|
|
718.85 |
| Hindalco
|
158.35
|
165.40
|
158.10
|
164.20
|
| HLL
|
225.50
|
233.25
|
225.50
|
231.20
|
| ICICI
Bank |
480.30
|
495.00
|
480.10
|
492.05
|
| Infosys |
|
|
|
1,648.05 |
| ITC
|
170.00
|
175.95
|
170.00
|
174.95
|
| L&T
|
2,082.00
|
2,144.80
|
2,082.00
|
2,134.00
|
| Maruti |
|
|
|
736.50 |
| NTPC
|
|
|
|
113.55 |
| ONGC
|
|
|
|
1,080.50 |
| Ranbaxy
|
330.00
|
353.35
|
328.00
|
349.90
|
| Rel
Energy |
423.55
|
440.00
|
416.05
|
437.05 |
| Reliance
|
|
|
|
995.70 |
| Satyam
|
669.70
|
693.00
|
669.70
|
688.55
|
| SBI
|
700.00
|
735.90
|
700.00
|
725.75
|
| Tata
Motors |
690.00
|
699.85
|
681.10
|
687.55
|
| Reliance
Comm Ventures Ltd |
245.05
|
255.05
|
244.50
|
249.25
|
| Tata
Steel |
469.00
|
491.50
|
461.25
|
487.10
|
| TCS
|
|
|
|
1,807.70 |
| Wipro
|
|
|
|
470.05 |
Last
Update : 20 July, 2006 16:26 PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
997.00
|
1010.00
|
985.25
|
995.40 |
| INFOSYSTCH
|
1698.70
|
1698.70
|
1633.00
|
1647.85 |
| TATASTEEL
|
470.00
|
490.90
|
461.00
|
487.05 |
| TATAMOTORS
|
670.15
|
699.50
|
670.15
|
688.60 |
| ACC |
800.00 |
820.00
|
791.00
|
813.00 |
| SATYAMCOMP
|
680.00
|
694.80
|
670.35
|
689.20 |
| TCS
|
1775.90
|
1820.00
|
1770.00
|
1806.15 |
| SBIN
|
700.00
|
736.00
|
699.00
|
726.00 |
| WIPRO |
470.00 |
478.40
|
465.00
|
469.95 |
| RANBAXY
|
332.00
|
354.00
|
329.25
|
349.50 |
| SUZLON |
942.00 |
1003.90
|
942.00
|
989.25 |
| ONGC
|
1080.00
|
1088.60
|
1068.50
|
1081.35 |
| MARUTI
|
730.00
|
754.60
|
730.00
|
736.80 |
| ITC |
170.00 |
176.00
|
170.00
|
175.05 |
| BHEL
|
1800.00
|
1850.95
|
1800.00
|
1811.35 |
| GUJAMBCEM
|
102.00
|
105.60
|
101.50
|
103.55 |
| VSNL |
355.00 |
367.70
|
351.20
|
357.25 |
| SAIL
|
70.10
|
72.00
|
68.80
|
69.45 |
| ZEETELE
|
259.90
|
263.95
|
250.00
|
254.95 |
| HINDALC0
|
158.90
|
165.50
|
158.90
|
164.20 |
| LT
|
2111.00
|
2144.00
|
2095.00
|
2134.25 |
| GRASIM
|
1962.80
|
1994.30
|
1945.00
|
1976.60 |
| BAJAJAUTO
|
2434.90
|
2524.90
|
2434.90
|
2502.45 |
| SIEMENS
|
850.00
|
874.40
|
842.00
|
846.95 |
| IPCL
|
248.00
|
251.65
|
244.00
|
247.75 |
| ICICIBANK
|
477.20
|
494.90
|
477.20
|
492.05 |
| BHARTIARTL
|
359.90
|
370.00
|
358.50
|
364.45 |
| M&M |
530.00 |
542.40
|
521.00
|
531.85 |
| HINDLEVER
|
228.00
|
233.40
|
225.15
|
231.30 |
| HCLTECH
|
558.00
|
558.00
|
541.00
|
551.25 |
| HDFCBANK
|
711.00
|
740.00
|
711.00
|
726.45 |
| HDFC |
1093.00 |
1104.00
|
1070.00
|
1080.25 |
| CIPLA
|
215.20
|
219.00
|
214.50
|
217.75 |
| DABUR
|
135.50
|
142.90
|
135.50
|
140.00 |
| HEROHONDA
|
722.00
|
725.00
|
710.25
|
715.90 |
| MTNL
|
138.00
|
142.80
|
138.00
|
140.85 |
| DRREDDY
|
1260.00
|
1280.00
|
1249.00
|
1267.10 |
| ABB
|
2398.00
|
2455.00
|
2391.65
|
2410.95 |
| REL
|
435.00
|
440.70
|
417.00
|
438.20 |
| PNB
|
306.10
|
326.00
|
306.10
|
322.90 |
| JETAIRWAYS
|
503.40
|
539.20
|
503.40
|
531.75 |
| GAIL |
252.00 |
256.00
|
235.00
|
236.65 |
| TATATEA
|
725.00
|
750.00
|
715.20
|
745.95 |
| GLAXO
|
1000.00
|
1009.00
|
985.20
|
995.20 |
| SUNPHARMA
|
741.00
|
769.45
|
741.00
|
756.90 |
| ORIENTBANK
|
147.75
|
159.30
|
147.10
|
156.60 |
| TATAPOWER
|
483.60
|
490.85
|
473.00
|
483.80 |
| HINDPETRO
|
210.00
|
220.00
|
210.00
|
219.25 |
| NATIONALUM
|
215.00
|
219.50
|
212.15
|
216.75 |
| BPCL |
313.95 |
319.00
|
307.05
|
315.15 |
Last
Update : 20 July, 2006 16:0
|
|
