|
No fooling around on 1 April for the equity markets. The market started
the new financial year on all round optimism about strong corporate results
for the Jan-March quarter. Continued buoyancy in Asian markets added to the
positive sentiment. After an uncertain opening, the indices continued to gain
ground till the close. Sensex closed at 6605, up 112 points and the Nifty
at 2068, up 32 points.
Among
index stocks HPCL, VSNL and MTNL were the biggest percentage gainers while
HDFC and Infosys were the top losers. Crude
futures for May delivery jumped back above $55 to a barrel. US markets dipped
marginally yesterday after the strong gains posted on Wednesday. Dow and NASDAQ
both lost just above one quarter of a percent. ADR's
of Indian companies posted significant gains yesterday. ICICI Bank, which
had declined substantially after its sponsored ADR issue, led the rally with
gains of close to six per cent. VSNL rose four percent while Satyam and Tata
Motors gained more than 3 percent each. HDFC Bank added more than two percent
while Infosys, Wipro and MTNL gained more than a percent each. Dr. Reddy's
was the sole loser yesterday. Inflation
for the week ended 19 March fell marginally to 5.11 percent as compared to
5.23 percent for the previous week on lower food and energy prices. Bharat
Heavy Electricals was the star of the day as it turned in a very strong performance
for its financial year ending December '04. Net profits surged more than 50
percent to cross Rs1,000 crore on sales growth of over twenty per cent. The
company has a very strong order book of more than Rs31,000 crore and has recently
received large orders from both within the country and outside. The stock
surged more than four percent. ICICI
Bank gained smartly on news that RBI has allowed buying by FII's, with its
permission, as foreign holdings have dropped below the upper limit. The up
move was also helped by the sharp jump in its ADR prices in New York stock
exchange yesterday. The stock closed with gains of more than three per cent. Metal
stocks received considerable buying interest as prices of base metals like
aluminium, zing and copper continue to rise in international markets. Hindalco
continued yesterday's rally gaining another four per cent. Nalco and Hindustan
Zinc were the other significant gainers. Steel
stocks also saw some action as many companies are increasing prices from today.
Both Tata Steel and SAIL gained over two percent each. Telecom
stocks regained part of their recent losses today. MTNL and VSNL led the rally
with gains of close to six percent each. Bharti gained more than four percent. MNC
pharma company Aventis announced impressive results for the year ended Dec
'04. The company posted a 49 percent increase in profits on sales growth of
close to 14 percent. The stock gained close to four percent early in the morning. Capital
goods major ABB, Tata Motors and BPCL were the other major gainers for the
day. Zee,
Dabur and Hero Honda were some of the losers among frontline stocks. Mid-cap
action
Mid-caps were
on fire as the CNX mid-cap 200 index posted gains of close to three per cent.
The number of stocks trading with gains of over ten percent for the day was
unusually large. Auto
ancillary company Ucal Fuel jumped in morning trades on news of the company
acquiring a US auto component firm. The US company has two manufacturing plants
and is being bought for $28 million. Alstom
Projects gained more than ten percent as the company announced a large order
win in partnership with its French associate. The order from National Hydro
Electric Power Corporation is worth over Rs1,500 crore and Alstom Projects
will execute half of the order. Opto
Circuits gained on plans for a GDR issue to raise up to $25 million. The company
will be spending a quarter of the funds on research and the balance for acquisitions
in the US. Bhushan
Steel gained five percent on announcement of a rights issue to raise up to
Rs150 crore. The company is also planning to raise an additional Rs500 crore
from an overseas issue. The company had recently raised a large amount by
way of a preferential allotment. IT
education company Aptech Ltd lost ground as it reported disappointing results
today. The stock lost more than four percent. KCP
Sugar, Rico Auto, Tata Infotech and SB&T International were some of the
stocks with more than ten percent gains today.  Kalyani
Brakes, Sterling Biotech, UTV Software and Kajaria Ceramics were some of the
significant losers for the day.
*Disclaimer:
The author doesn't have any position in 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.
Other
articles by Rex Mathew
List
of general reports on markets List
of general reports on finance Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
6,605.04
|
+112.22
|
| NIFTY
|
2,067.65
|
+32.00
|
Last
Update : 1 April, 2005, 16:15 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| HINDUSTAN
PETROLEUM CORP. LTD. |
307.00
|
324.00
|
302.55
|
322.70 |
| TATA
MOTORS |
414.10
|
442.55
|
410.30
|
434.45 |
| BHARTI
TELE |
210.00
|
217.80
|
206.90
|
216.55 |
| HINDALCO
IN |
1,294.00
|
1,362.00
|
1,290.00
|
1,353.95 |
| BHEL
|
783.00
|
807.00
|
771.00
|
802.80 |
| RELIANCE*
|
545.00
|
567.00
|
545.00
|
564.40 |
| ICICI
BANK L |
399.50
|
407.00
|
395.50
|
405.60 |
| SATYAM
COMP |
410.75
|
424.00
|
407.50
|
421.50 |
| GUJARAT
AMBUJA CEMENTS LTD. |
402.00
|
415.00
|
399.90
|
413.30 |
| MARUTI
UDYOG |
425.00
|
434.80
|
418.00
|
432.55 |
| LARSEN
& TOUBRO LTD. |
998.00
|
1,025.00
|
985.25
|
1,022.20 |
| TATA
IRON AND STEEL CO. LTD. |
404.90
|
411.70
|
399.40
|
409.25 |
| STATE
BANK OF INDIA |
660.00
|
673.40
|
653.00
|
670.50 |
| CIPLA
LTD. |
257.00
|
261.00
|
256.00
|
259.90 |
| RELIANCE
ENR* |
529.65
|
544.00
|
528.00
|
540.50 |
| HDFC
BANK LT |
544.95
|
556.00
|
541.00
|
551.90 |
| GRASIM
INDUSTRIES LTD. |
1,217.00
|
1,235.00
|
1,205.00
|
1,229.00 |
| TATA
POWER |
359.50
|
364.60
|
352.60
|
361.55 |
| ASSOCIATED
CEMENT COMPANIES LT |
362.50
|
365.20
|
358.00
|
364.45 |
| I
T C LTD |
1,339.80
|
1,363.00
|
1,322.05
|
1,357.80 |
| HOUSING
DEVELOPMENT FINANCE CO |
746.30
|
746.30
|
709.55
|
716.80 |
| ZEE
TELEF LT |
138.00
|
140.00
|
135.50
|
137.70 |
| HEROHONDA
M |
555.00
|
555.00
|
542.00
|
543.60 |
| INFOSYS
TECHNOLOGIES LTD.-ORDI |
2,249.00
|
2,270.00
|
2,221.10
|
2,243.60 |
| ONG
CORP LTD |
870.00
|
883.00
|
865.00
|
880.50 |
| Bajaj
Auto |
|
|
|
1,089.80 |
| Dr.
Reddys Laboratories |
|
|
|
743.35 |
| HLL |
|
|
|
132.20 |
| Ranbaxy
Labs |
|
|
|
1,010.30 |
| Wipro |
|
|
|
673.25 |
Last
Update : 1 April, 2005, 16:05PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
557.00
|
566.60
|
547.90
|
564.60 |
| TISCO
|
403.25
|
411.00
|
399.50
|
409.25 |
| INFOSYSTCH
|
2259.90
|
2259.90
|
2212.35
|
2235.85 |
| SBIN
|
655.00
|
672.80
|
652.65
|
670.10 |
| TATAMOTORS
|
416.00
|
435.00
|
409.70
|
433.20 |
| SATYAMCOMP
|
409.70
|
423.50
|
407.00
|
421.25 |
| ONGC |
888.55 |
888.55
|
851.00
|
880.95 |
| RANBAXY
|
1004.90
|
1020.90
|
986.55
|
1015.00 |
| TCS
|
1433.00
|
1457.00
|
1414.00
|
1450.95 |
| SAIL
|
63.65
|
64.95
|
63.15
|
64.55 |
| MARUTI
|
426.90
|
432.80
|
418.00
|
430.50 |
| ITC
|
1335.00
|
1366.40
|
1322.10
|
1352.65 |
| PNB
|
398.95
|
399.00
|
391.00
|
396.90 |
| HINDPETRO
|
304.95
|
324.00
|
302.20
|
322.70 |
| BHEL
|
788.00
|
804.50
|
770.05
|
801.65 |
| WIPRO
|
674.00
|
679.70
|
654.20
|
672.65 |
| ICICIBANK
|
393.00
|
407.45
|
393.00
|
406.05 |
| HDFC
|
734.95
|
734.95
|
710.00
|
716.65 |
| IPCL
|
166.80
|
172.00
|
164.00
|
170.70 |
| M&M |
515.00 |
515.00
|
497.00
|
505.75 |
| HCLTECH
|
371.00
|
386.45
|
367.15
|
383.55 |
| BHARTI
|
209.85
|
218.55
|
205.20
|
216.55 |
| NATIONALUM
|
178.80
|
181.40
|
172.00
|
179.90 |
| GAIL
|
215.00
|
220.00
|
212.00
|
219.10 |
| SCI
|
150.80
|
152.40
|
149.15
|
151.50 |
| BPCL
|
354.40
|
372.40
|
347.00
|
368.05 |
| MTNL
|
115.00
|
121.00
|
114.15
|
120.30 |
| ACC |
360.60 |
364.90
|
357.10
|
363.95 |
| HINDLEVER
|
132.45
|
133.45
|
130.50
|
132.20 |
| GUJAMBCEM
|
403.00
|
416.00
|
399.50
|
414.25 |
| HEROHONDA
|
559.90
|
559.90
|
542.05
|
544.50 |
| LT
|
1002.80
|
1025.00
|
985.00
|
1021.10 |
| ORIENTBANK
|
313.00
|
317.00
|
309.10
|
314.25 |
| TATAPOWER
|
360.40
|
364.30
|
352.25
|
362.15 |
| BAJAJAUTO
|
1083.00
|
1095.00
|
1053.60
|
1089.35 |
| GRASIM
|
1205.00
|
1234.00
|
1195.05
|
1229.55 |
| CIPLA |
259.00 |
260.25
|
255.80
|
259.05 |
| TATATEA
|
540.00
|
540.00
|
524.20
|
539.25 |
| HINDALC0
|
1290.00
|
1362.00
|
1290.00
|
1354.35 |
| HDFCBANK
|
546.00
|
557.00
|
541.00
|
551.55 |
| REL
|
531.00
|
543.80
|
527.00
|
540.05 |
| DRREDDY
|
744.90
|
747.00
|
740.00
|
743.50 |
| SUNPHARMA
|
474.95
|
474.95
|
460.00
|
465.20 |
| ZEETELE
|
138.90
|
139.65
|
135.50
|
137.85 |
| TATACHEM
|
153.10
|
155.85
|
150.25
|
151.70 |
| VSNL
|
186.00
|
195.80
|
161.00
|
194.80 |
| DABUR
|
112.40
|
113.50
|
109.30
|
110.25 |
| ABB
|
1150.00
|
1225.00
|
1150.00
|
1207.00 |
| GLAXO
|
725.00
|
729.00
|
710.00
|
725.00 |
| COLGATE
|
182.05
|
183.80
|
178.10
|
181.95 |
Last
Update : 1 April, 2005, 16:04PM
| 
