labels: stock markets - india, markets - general
Gain (+) / Loss (-) news
Rex Mathew
16 January 2007

Helped by very strong results from TCS and HCL Tech, the indices opened the day on a firm note and touched new lifetime highs. However, they gave up all their gains and traded within a range for the rest of the day.

The Sensex hit a new lifetime intra-day high of 14211 in early trades while the Nifty set a new lifetime high of 4107. The Nifty managed to end at a new lifetime closing high.

Sensex closed with losses of 15 points at 14115 and the Nifty gained 2 points to end at 4080. Nifty January futures closed at a discount of 3 points to the spot index.

SAIL ended 2.71 per cent lower after yesterday's sharp rise and was the worst performer among index stocks. Hindalco closed 1.48 per cent lower

HDFC closed 2.31 per cent lower and OBC ended with losses of 2.11 per cent

Jet Airways corrected further and closed 2.19 per cent lower

Reliance came under some profit booking and closed 1.32 per cent lower while Gail India lost 1.23 per cent

Among engineering stocks, ABB lost 1.93 per cent

Glaxo lost 1.93 per cent and Tata Power ended 1.24 per cent lower

Select engineering and capital goods stocks continued to surge ahead. Suzlon was the best performer, gaining 3.94 per cent.

BHEL gained 1.77 per cent while L&T added 1.4 per cent

M&M surged 3.72 per cent after the company announced the new commercial vehicles plant under a JV

VSNL continued its rally and added 1.83 per cent on speculation that the Tata group would buy out the remaining stake held by the government. Among other telecom stocks, Bharti gained 1.27 per cent on reports that SingTel may buy Vodafone's stake in the company.

Wipro was the best performer among tech stocks, ending 1.59 per cent higher. HCL Tech added 1.58 per cent following announcement of excellent results while Satyam ended 1.17 per cent higherACC was the other major gainer, ending 1.54 per cent higher

Global markets / crude oil
US markets were closed yesterday.

Asian markets were mixed after 2 days of strong gains. Indonesia was the best performer, closing nearly 1.4 per cent higher.

Shanghai added more than 0.9 per cent after surging 4.75 per cent yesterday. Malaysia ended nearly 0.4 per cent higher while Singapore closed with modest gains

Hong Kong corrected 0.2 per cent while South Korea ended 0.1 per cent lower. Japan and Thailand ended with marginal losses.

European markets opened firm before coming under pressure.

Major indices are trading flat or with modest losses in early afternoon trades

Crude oil prices ended without much change yesterday. Near month NYMEX futures is trading below $52.5 per barrel in European trades today.

Large-cap news flow

  • Reliance Industries may set up 50,000 barrels per day oil refinery in Yemen in partnership with a local company, according to unconfirmed media reports. Reliance Industries had recently acquired 2 onshore exploration blocks in Yemen.
  • TCS has won a 5-year $140 million outsourcing deal from a large bank in Ecuador. The deal involves implementation of core banking solution and providing IT and BPO services.
  • M&M said it's JV with International Truck and Engine Corp would set up a commercial vehicle plant in Maharashtra. The plant would have an annual capacity of 250,000 units and would be operational in 2 years. The plant would produce medium and heavy commercial vehicles besides engines, transmissions and other aggregates. The project may see investments of up to Rs2,500 crore.
  • Tata Steel said it has signed the definitive agreement to acquire a Kolkata-based ferro chrome manufacturer for an enterprise value of Rs101 crore. The transaction is expected to be completed by next month.
  • JSW Steel has registered its new 100 MW captive power plant using waste gases as a CDM project to be eligible for carbon credits.
  • VSNL has denied media reports that the company is in discussions to acquire a telecom company in Sri Lanka

Mid-Cap Action

Mid-caps and small caps sustained their rally despite the subdued trend in large caps. The CNX Mid-Cap index ended 20 points, or 0.37 per cent, higher at 5259. BSE mid-cap index gained 0.44 per cent and the BSE small cap index ended with gains of 0.25 per cent.

Lumax Auto Technologies got listed today on the exchanges. Issued at Rs75, the stock opened at Rs80 on the NSE and saw a high of Rs143. The stock finally ended at Rs110.7.

CMC gained another 15.46 per cent after surging 30.56 per cent yesterday

XPro India, Lumax Auto and Prism Cement all ended at the 10 per cent upper circuits

Accel Frontline, Aftek, RNRL, RCF and Kesoram Industries were among the other major mid-cap gainers.

Aztec Software, Tata Sponge, Adhunik Metaliks, Hanung Toys, Paradyne Infotech, Uniphos, Dharani Sugar, Sharyans Resources and Sandesh were among the major mid-cap losers.

Mid-cap news flow

  • Bajaj Auto Finance has extended the closing date of its rights issue to 22 January. The company is raising Rs672 from the rights issue of equity shares and non-convertible debentures with detachable warrants
  • Nestle India would distribute Rs43.2 crore from its share premium account to the shareholders. The company would pay out another Rs43.09 crore from its general reserve as a special dividend
  • i-Flex said a US-based bank has selected its core banking suite
  • Pantaloon Retail said one of its subsidiaries has acquired an office products supply firm for an undisclosed amount
  • Shareholders of Magma Leasing have approved the merger of Shrachi Infrastructure Finance with the company
  • Deep Industries has acquired 2 offshore work-over rigs. The company would deploy one of the rigs with ONGC for a period of 18 months for a consideration of Rs16.7 crore
  • Maars Software is proceeding with a GDR issue to raise up to $18 million. The company would also issue 77.2 lakh convertible preference shares to Bank of India
  • Vardhman Textiles has appointed consultants for the restructuring of its sewing threads business
  • IndusInd Bank would distribute the products of Aviva Life Insurance
  • Muktaa Arts has sold the music rights of 5 of its upcoming movies for Rs6 crore
  • Flawless Diamond has opened a retail store for designer jewellery in Mumbai
  • Sumeet Industries would issue 25 lakh equity shares to promoters at a price of Rs30 per share
  • Suryalata Spinning has commenced operations at its new plant in Andhra Pradesh
  • Goldiam International said its subsidiary has started commercial production
  • The merger between Nahar Exports and Nahar Spinning Mills has received High Court approval
  • Rajesh Exports has commenced production at its new jewellery manufacturing unit in Bangalore. The company said its jewellery retail division is now present across 23 cities
  • Gujarat Gas Company would supply 3.5 lakh cubic metres per day of natural gas to Kribhco for a period of 3 months
  • Indoco Remedies is planning to acquire a Mumbai-based pharma company
  • Accel Transmatic would de-merge its training division into a separate subsidiary and is also looking to raise additional funds
  • Aarvee Denim would set up a cotton yarn manufacturing unit along with a wind energy project in Gujarat at an investment of Rs212 crore
  • Bliss GVS Pharma would acquire GVS Labs for Rs16 crore in an all stock deal

*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 Counters
Figures in Rupees

BSE 30
Scrip Name Open High Low Last Price
ACC 627.1 638.6 625 636.85
Bajaj Auto 260 260.5 255.15 258.7
Bharti Tele 662 673.2 655.05 670.45
BHEL 1,080.00 1,105.00 1,076.10 1,101.40
Cipla 144 146.6 142.7 143.95
Dr Reddys Lab 809.95 810.85 804.05 809.1
Grasim Indus 914 914 902.2 910.55
Guj Ambuja 962 970 951 959.75
HDFC Bank Ltd 2,780.00 2,859.00 2,715.00 2,774.60
HDFC Ltd 173.5 173.95 169 169.95
Hero Honda 223.4 224.4 219 220
Hindalco 1,369.00 1,372.00 1,344.00 1,347.00
HLL 490 493.4 481.05 482.25
ICICI Bank 435 435 427.2 430.4
Infosys 1,228.00 1,236.90 1,204.35 1,209.25
ITC 172.8 172.8 169.55 171.6
L&T 662 673.2 655.05 670.45
Maruti 809.95 810.85 804.05 809.1
NTPC 535 544.45 530 532.5
ONGC 1,104.95 1,104.95 1,082.00 1,095.90
Ranbaxy 433 433 423.7 430.35
Rel Energy 535 544.45 530 532.5
Reliance 2,256.10 2,256.10 2,211.00 2,217.00
Satyam 2,840.00 2,880.00 2,833.00 2,861.45
SBI 1,228.00 1,236.90 1,204.35 1,209.25
Tata Motors 507.5 512.5 503 505.75
Reliance Comm Ventures Ltd 172.8 172.8 169.55 171.6
Tata Steel 130 139.6 130 137.95
TCS 1,399.00 1,399.00 1,320.15 1,327.85
Wipro 627.1 638.6 625 636.85
   Last Update : 16 January, 2007 16:00 PM

S&P CNX Nifty
Scrip Name Open High Low Last Price
ICICIBANK
964.85
969.95
949.1
960.05
TCS
1388.95
1388.95
1319
1324.1
RELIANCE
1367
1372
1344.1
1346.95
BAJAJAUTO
2779
2850.5
2715.3
2774.1
SIEMENS
1196
1214
1161.1
1195.4
M&M
951
1001
948.35
986.25
RCOM
430.15
435.2
427.25
430.45
INFOSYSTCH
2245.2
2250
2216.1
2222.2
SBIN
1255
1255
1204.1
1209.8
TATASTEEL
488
493.4
481
482.45
SATYAMCOMP
507
550
502.2
506.9
BHEL
2205
2284.5
2176.2
2261.45
SAIL
100
101.4
96.35
97.1
VSNL
466
479
451
473.55
TATAMOTORS
950
961.4
945.6
957.55
LT
1510
1528.2
1499
1521.7
SUZLON
1275
1326
1260
1320.45
HDFCBANK
1104
1104.7
1080.2
1096.1
HINDLEVER
222
223.3
218.6
220
ONGC
919.8
932.5
915.35
919.95
BHARTIARTL
665.5
673.7
642.15
669.85
WIPRO
630
638.75
625.2
636.9
ACC
1087.9
1104.6
1076
1101.6
MARUTI
913
913
902.7
910.65
ABB
3699
3699
3560.05
3577.05
ITC
173.5
173.5
169.6
171.65
HCLTECH
661
661
637
639.4
HDFC
1596
1596.05
1558
1559.6
GRASIM
2831
2884.7
2821
2865.35
GUJAMBCEM
144
146.7
142.5
143.95
IPCL
294
296.9
285.55
286.7
REL
537
544.5
530
532.45
RANBAXY
431
433.5
423.6
429.65
MTNL
160
163.45
159.05
160.95
HINDALC0
170.85
172.95
168.8
169.75
HEROHONDA
736
739.9
724.5
726.55
PNB
520.7
525.9
514.35
517.25
HINDPETRO
296
299.95
292.55
298.95
ZEETELE
287
287.5
278.4
283.25
CIPLA
259
259.8
255.45
258.85
GAIL
282
282
276
278.05
DRREDDY
811.8
811.8
803.2
808.8
SUNPHARMA
1048.8
1048.8
1020.55
1036.85
BPCL
352.9
355
346.1
347.6
ORIENTBANK
226.25
226.5
218
220.5
DABUR
154.85
155
152.5
153.95
JETAIRWAYS
694.95
694.95
667.1
669.75
TATAPOWER
583
583
571.05
575.55
GLAXO
1127.95
1174
1127.95
1146.9
NATIONALUM
211.1
213.2
210.8
211.05
   Last Update : 16 January, 2007 16:00 PM


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