Archive for August, 2008
Friday, August 29, 2008 11:31:51 AM IST
Buying in banking stocks are driving the market more into the green. Bank Nifty is up 5.44% while BSE Bankex is up 5.21%. ICICI Bank and SBI are both up over 6%. PNB is up 5.1%. HDFC Bank is up 4%. Tech Mahindra is in news for acquiring a minority stake in Servista.
Midcap Technology stock Tech Mahindra Limited (NSE:TECHM) has announced signing of an agreement with a United Kingdom-headquartered systems integrator Servista to acquire a minority stake in the later. As per the agreement, Tech Mahindra will be the exclusive delivery arm for Servista. Tech Mahindra will also help more large scale European IT offshoring business.
Servista operate in the Telecoms, Financial Services and Energy market sectors, with core offerings in CRM, Billing, Operational Workflow, IT Systems Transformation and Testing. Incidently telecom is the biggest business for Tech Mahindra. The acquiring of the stake will help the Tech Mahindra to expan its European presence as well as improve its business development capabilities.
Current price: 748.00 (at the time of writing)
52-week high price: 1550.00
52-week low price: 575.00
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $835.10
1 Barrel Crude Oil = $116.93
August 29th, 2008
Draft Offer Documents of Mutual Fund Schemes that are submitted to SEBI. These documents are available for public view and commenting on SEBI’s website:
Lotus India Yearly FMP - Series I - Plan A-F
Reliance Fixed Horizon Fund - XI
August 29th, 2008
Friday, August 29, 2008 10:37:19 AM IST
The Indian Stock markets reacted positive on the Indian Inflation numbers that turned to be positive this time. The Nifty is at 4308 up 2.25% while BSE Sensex is up 332 points and is trading at 14380. Banking stocks are trading positive.
India’s Inflation numbers came after the closing bell of the Indian stock markets yesterday evening. The Inflation is at 12.40 dipping marginally by 0.23%. Of the 98 primary articles, prices of 21 articles declined and those of 48 articles remain the same. The Finance Ministry commented that these are the early signs of the reforms they have taken.
The CNX IT is up 1.72%. Bank Nifty is up 4.67%. CNX 100 is up 2.30% while CNX 500 is up 2.24%
The BSE Midcap index is up 1.73% while BSE Smallcap index is up 2.32%. All BSE sectoral indices are in the green with Bankex up 4.64% and Realty 3.15% leading the board. Capital Goods, Metal and PSU are up over 2%.
Nifty gainers of the day include ICICI Bank up 5.48%, HDFC Bank, Reliance Infra, PNB (all up over 4%), SBI, Tata Motors, BPCL, HDFC, Suzlon, DLF (all up over 3%)
Nifty losers list include Ranbaxy and Cairn both of which are marginally in the red.
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $835.40
1 Barrel Crude Oil = $116.92
August 29th, 2008
Thursday, August 28, 2008 3:53:57 PM IST
The last hour of trade did more damanage than the remaining part of the day. The Nifty closed the day at 4221 down 1.66%. Sensex has shed 248 points to close at 14048 having come close to 14000 levels yet once again.
CNX IT is down 1.83% and Bank Nifty is down 1.38%. CNX 100 is down 1.51% and the broder CNX 500 is down 1.57%. Nifty Midcap 50 is down 1.65%
Top gainers on the Nifty include Suzlon (up 2%), Tata Power, Cairn (both up over 1%), Hero Honda, Ranbaxy, ITC, Satyam, HCL Tech, Bharti Airtel (All up marginally). Top losers include Hindalco (down over 5.93%), Tata Communications (down over 4%), National Aluminium, Siemens, TCS, Wipro, BHEL, GAIL and SAIL (all down over 3%)
The BSE Sensex closed the day at 14,048.34 down 248.45 points or 1.74%. The Midcap index and Smallcap index are down 77.58 and 77.61 points respectively. Oil & Gas and Capital Goods indices are down over 2% each followed by PSU, Metal, Bankex, REalty, Power, IT that are all down over 1% each. All the sectoral indices on the BSE closed the day in red.
1 U.S. dollar = 43.5255 Indian Rupees
1 U.S. dollar = 108.9087 Japanese Yens
1 U.S. dollar = 0.6770 Euros
1 Ounce Gold = $831.70
1 Barrel Crude Oil = $118.88
August 28th, 2008
Thursday, August 28, 2008 2:47:03 PM IST
Aditya Birla Nuvo of the Aditya Birla Group has announced it will buy 56% stake in in Apollo Sindhoori Capital, a Chennai based broking firm. The deal is at a cost of Rs. 1.99B Rupees. Aditya Birla Nuvo will be making an open offer for 20% in Apollo Sindhoori as per the stipulated regulatory requirements.
Apollo Sindhoori Capital Investments Limited is trading at Rs. 57.40 up 8.40%. The Buy order book are at 105485 while the Sell order book is at 61386 for the stock on the NSE. The 52-week high price of the script is 557.80 while its 52-week low is 46.10
Aditya Birla Nuvo Limited (NSE: ABIRLANUVO) is trading at 1310.00. down 0.17%. Its 52-week high is 2507.80 while its 52-week low is 1035.00
August 28th, 2008
Next PostsPrevious Posts