Posts filed under 'Infrastructure'
Buying interest in Metals, Banks and Infra sectors has lead the markets to hold today with the Sensex closing the week by adding 117 points.
The SENSEX continued to build above the 16k mark and closed at 16154.60 gaining 117.10 (0.73%). The NIFTY ended at 4866.00 adding 34.75 (0.72%) points. CNX Midcap has shut shop at 6653.55 gaining 62.45 (0.95%) while BSE Smallcap closed at 6171.75 gaining 87.48 (1.44%).
GMR Infra plans Rs 30000 crore petroleum refinery project. GMR Infra closed at Rs. 29.40 gaining 1.75 (6.33%) with 8.19m shares traded today. Another infra player GVK Power said its subsidiary has signed an agreement with NHAI for 4 lane highway in MP. GVK Power closed at Rs. 14.40 gaining 0.70 (5.11%).
Sintex Industries announced its numbers today. Its Q3 consolidated net profit falls 27% to Rs 82.2 cr and net sales drop 2% to Rs 1158 cr YoY. The script closed at Rs. 71.85 slipping Rs. 0.35 (-0.48%) with a volume of 11m.
January 13th, 2012
Motilal Oswal is positive on Hindustan Zinc due to the strong volume growth of zinc metal and sharper growth in lead and silver production over the next few years. Maintain BUY with a target of Rs. 193.
JP Morgan, in its report dated Oct 21, 2011 said that Crompton Greaves is having a decent start to a fresh innings and has upgraded it to Neutral with revised Sep-12 PT of Rs. 135.
October 22nd, 2011
Selling pressure post noon has dragged the Indian stock markets. The Sensex has is down by 299 points and closed the day at 16866.97 while Nifty closed at 5059.45 losing 93.80 points. Metal stocks and Reliance Communications topped the losers list.
Earlier yesterday (Sep 
, the US markets closed the day in the red after the speeches by Bernake and the Obama $447bn jobs plan did not cheer the markets there. The Asian markets this morning (Sep 9) are largely in the red except for Taiwan Index. The European markets have opened their trades for the day (Sep 9) and are in the red. DAX lost 118.17 points and is trading at 5290.29.
Back home today (Sep 9), Reliance Communications has shed Rs. 5.60 and closed at Rs. 83.80. Ambuja Cements is down 6%. Hindalco, Sterlite Industries, SAIL, Jaiprakash Associates, Reliance Infra, Reliance Capital, Axis Bank, Grasim etc are amongst the top losers of the day.
The gainers list is small and is led by Hindustan Unileaver, Hero Motor Corp (both up over 2% each), PNB, ONGC, HDFC, Bharti Airtel amongst others that are marginally in the green.
RBS has given a BUY call on IVRCL with a target of Rs. 67.60. They feel that despite a disappointing 1QFY12 performance, we believe IVRCL is better geared for future growth than its peers under our coverage. The short-term pain of a high interest-rate environment impacted project executions during the quarter, but the bottom of the earnings cycle is nearing, in our view.
September 9th, 2011
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
Stock markets around the globe took a relief after an almost a fortnight of turmoil due to global economic factors turning sour. The stock markets right from Asia Pacific to US have closed in the green albeit the relief is too small and too early to call it a U-turn.
The BSE Sensex closed the day at 16341.70 gaining 200.03 while Nifty closed the day at 4898.80 gaining 53.15 points in trades today. Almost all sectoral indices except for the Bankex and BSE IT have closed in the green. IT stock, some experts believe, have still some downside left considering there is no clear signs of order pull backs from US companies. Banks, of course, have their inherent problems and their stocks are showing the signs.
Top gainers include ADAG stocks Reliance Comm, Reliance Infra and SAIL (all three up over 6%), IDFC and Jaiprakash Asso (both up 5%) and ONGC, Bajaj Auto, Wipro, Rel Capital, Tata Power, Hindalco, Tata Motors, Reliance and Jindal Steel (all up over 3%). Market experts believe the upward pull back by Reliance Communications and Reliance Infra is largely because of short covering and that the inherent problems in ADAG stocks still are to be addressed so as to win investor confidence and hence the upward move is short term knee jerk reaction.
Top losers of the day include GAIL (down over 3%), DLF (down over 2%) and Axis Bank, HDFC Bank, Infosys, HCL Tech, TCS, PNB, Sesa Goa and Cairn India (all down 1%).
Gold touched a new record high of $1,912.09 an ounce.
The Indian Income Tax Department has served a draft tax demand of Rs 2,114 crore on Mahindra Satyam (BSE: 500376; NSE: SATYAMCOMP; ISIN: INE275A01028) after it has disallowed exemptions claimed by the company. The demand was for Rs 1,037.69 crore and Rs 1,075.73 crore for assessment years 2002-03 and 2007-08, respectively. The company said that the notice however does not exclude fictitious income wrongly offered to tax by the earlier management and hence the company is likely to challenge the same.
GVK Power and Infrastructure (BSE: 532708; NSE: GVKPIL; ISIN: INE251H01024) has increased its stake in Bangalore International Airport Ltd (BIAL) by acquiring an additional 14% share from Siemens Project Ventures. With this, the total stake of GVKPIL in BIAL increases to 43%. It may be recalled GVK, in 2009, had acquired 17% stake from Larsen and Toubro (L&T) for Rs 686 crore and 12% from Zurich Airport for Rs 484.6 crore. The script last traded at 17.40 up 0.30 or 1.75%.
SEBI has notifies its decision of transaction charges on Mutual Fund folios. There will be a charge of Rs 100 per subscription of over Rs 10,000 and charge of Rs 150 for a first time MF investor.
August 22nd, 2011
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