Posts filed under 'Oil & Petro Chemicals'
The Indian stock markets witnessed a classical pull back rally with the Sensex gaining 567.50 points and the Nifty gaining 171.80 point. The Sensex is at 16416 while the Nifty managed to close above the 4900 mark at 4919.60. The Small and Midcap stocks fared well while the bigger gainers are the large cap stocks. The broader BSE Sensex is up 3.28% while the BSE Midcap Index and the Smallcap Index is up 2.06%.
IT stocks are the biggest gainers today. The BSE IT index is up 5.06%. This was followed by Metal, Realty, Bankex and Capital goods which are up over 4%.
ADAG stocks bounded anywhere between 6% to 8%. Reliance Capital is up 9.6%. HCL Tech, TCS, Reliance Power are all up over 7%. Jindal Steel, Jaiprakash Associates, Kotak Mahindra Bank and Reliance Communications are up 6.37%.
Reliance managed to close above the Rs. 75 mark today and last traded at Rs 76.80 after touching an intra-day high of Rs. 78.75.
The losing stocks, though few in number, had two largecap names. ONGC is down 1.08% while Maruti Suzuki is down 0.37%.
Maruti Suzuki (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) has suspended 21 workers, five of them are suspended at Manesar unit which is leading to temporary production problems at the plant. Apart from the quantity of production, there are some quality issues that have cropped up last week because some workers are deliberately tampering with the quality of the product, according to the management which is addressing the issues.
Analysts are rejecting the script. Equityrush gave an exit call and says the script can test Rs. 980-990 levels shortly.
The pullback rally in stocks today has made Reliance Industries overtakes ONGC and become the most-valued company in the Indian market. Coal India, the earlier challenger to RIL, has dropped to #3 position.
Construction & Contracting Company, IVRCL (BSE: 530773; NSE: IVRCLINFRA; ISIN: INE875A01025) moved smartly and closed the day at Rs. 35.05 gaining over 9% in trade today.
August 29th, 2011
The news of Indian stock markets hitting new highs has become a common-word in the past two months or so. Though the markets are cooling off a little by way of profit booking was pretty visible, the overall sentiment in the minds of trades as well as investors is positive. Almost all sectors and stocks have witness fast move towards higher share price levels except for very few stocks. The big boy Reliance Industries is one such script.
Reliance Industries visibly did not participate in the recent market rally as visible other top heavy weights. Though the share has many a times has indeed given support to the markets, it didn’t contribute solely on its own. Needless to so many analysts and brokerage houses have been giving mixed view on the script.
IIFL, in its report dated October 11, 2010 has given a Buy call with a target of Rs. 1098 based on technical observations.
Kotak Institutional Equities, for a long time, has given a Reduce call on the script. In its latest report on the script, also released on October 11, 2010, KIE has said that it failed to understand the accounting on the sale of the treasury sale and hoped to see a clarity on this part from the management of RIL. It also sees a downside risk to the earnings from taxation-related issues. KIE has given a target of Rs. 1015 to the script.
Meanwhile, Reliance Industries continued one of the top favorite scripts that Mutual Funds wish to hold.
October 12th, 2010
Indian stock markets starts their first trading of the new year in a new opening bell timing
The Indian stock markets opened their day on a positive note. The NSE is opening in at a new time for trade at 9:00 starting today.
Top Nifty gainers this morning are M&M, BPCL, Tata Motors, ACC, SBI, Tata Power, HDFC, Cipla, Sun Pharma and Tata Steel. On the losing end are Reliance, Bharti Airtel, R Power, Ambuja Cement, JP Associates, Reliance Infra, Siemens, Sterlite Industries, HDFC Bank, HCL Technologies.
Reliance Industries (BSE: 500325 | NSE: RELIANCE | ISIN: INE002A01018) is trading at about 1,068.95 down by -20.45. The script opened the day at 1,094.00, hit a high of 1,094.00 and a low 1,022.00 so far. Reports say a block deals of 2.5 crore shares of the script on BSE, NSE at Rs 1,035 per share might have triggered the scrip to slip a little.
Monday, January 04, 2010 9:41:51 AM
January 4th, 2010
ONGC (BSE Script Code: 500312; Script Id:ONGC) seems to be in all happy mood after its initial success in the bid to acquire UK-based Imperial Energy. The oil major is now thinking and evaluating about the possible listing of ONGC Videsh Ltd or OVL sometime in 2009. OVL is the overseas exploration subsidary of ONGC. A leading business daily said it has information from sources close to the company that the funds raised will be used to repay some of the loans that OVL will be taking to use for the acquisition of Imeperial Energy.
ONGC’s 52-week high is 1386.90 and 52-week low is 780 on the BSE
Meanwhile, Oil stocks are not doing that well today. The BSE Oil & Gas index is down 1.83%. 6 of the 11 scripts in the index are down. ONGC is down over 3.3% followed by Reliance, Reliance Energy and Essar Oil which are all down over 2%. Aban Offshore is up 2.77%
The stock markets meanwhile made an attempt to recover from the red. The Nifty is down 1.65% at 4429 while BSE Sensex is down 1.26% at 14859.
Stelite continues to be down. The script is down 4.39% at 610.00 on the NSE. ONGC, Unitech, SAIL, DLF are all down over 3%
ICICI Bank made a bit of recovery. The script is now up 0.90% on the Nifty and is trading at 720.50 levels.
1 U.S. dollar = 43.9502 Indian Rupees
1 U.S. dollar = 108.0730 Japanese Yens
1 U.S. dollar = 0.6905 Euros
1 Ounce Gold = $802.40
1 Barrel Crude Oil = $108.99
September 4th, 2008
Thursday, August 28, 2008 12:33:54 PM IST
The markets continue to trade in a range bound manner. Nifty is at 4281 down 0.25%. BSE Sensex is down by 46.76 points down at 14250. Reliance is trading at 2136 levels.
The CNX IT is down 0.11%. Bank Nifty is down 0.98%. CNX 100 is down 0.25% and the border CNX 500 is down 0.23%.
Chart toppers on NSE Nifty include Suzlon, ACC, Hero Honda, Bharti Airtel, Ambuja Cement, Ciarn, Tata Power, Sterlite, Cipla (All up over 1%)
Losers on Nifty include Hindalco, Dr. Reddy, DLF, HDFC Bank, BHEL, ICICI Bank, L&T, Reliance Communications, SBI, TCS (all down over 1%)
The BSE Midcap and Smallcap indices are down 0.36% and 0.32% respectively. Realty, Bankex, Capital Goods, PSU, Oil & Gas sectoral indices are down while Health Care, Auto, Consumer Durables are up.
Mukesh Ambani was in news yesterday for extending his support to the Tatas. Ambani was saying that the Tata Nano car is an innovative project that will extend India’s image globally and that India could become a hub for small cars.
Last Traded Price of select scripts:
Reliance: 2,136.00
Reliance Petro: 157.05
Reliance Natural Resources: 92.75
Tata Steel: 577.50
Tata Power: 1,026.00
Tata Motors: 423.90
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.5050 Japanese Yens
1 U.S. dollar = 0.6802 Euros
1 Ounce Gold = $833.40
1 Barrel Crude Oil = $118.67
August 28th, 2008
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