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Markets inching with postive gains

August 20th, 2008

The Indian stock markets are making further inroads to newer higher levels having opened upwards in the positive territory today.

Nifty is back at 4400 levels and is at 4410.35 up by 0.96%. CNX IT is marginally in the green while Bank Nifty is positive and has gained 1.11% in todays trade so far.

The BSE Sensex us up 120 points and is currently at 14,664.37 having opened at 14,610.57 early this morning. The BSE Midcap index is up 1.03% while the BSE Smallcap index is up 0.91%. On the sectoral front, Power, Metal, Realty, Health Care, PSU, Capital Goods, Bankex and Teck are all up by over 1%

The falling share prices seems to have come as an advantage to many, particularly for the Bajaj’s. A leading financial daily was reporting that the Bajajs have increased their stake in Mukund by 2% by open market purchases. With this, the Bajajs have a holding of 43% in the speciality steel company.

Reliance Communication (RCOM) was in news for many bad reasons and few good reasons recently. The latest buzz at RCOM is about their entry into the DTH Business under the brand Big TV. The press was reporting that the Reliance ADA Group has placed huge orders for DTH boxes and related equiptment to test their luck in the Indian DTH market. DTH has a market share of a mere 4% as against to the conventional cable television market of 95% and hence a huge market opportunity if the product and pricing are done properly.

Kingfisher - Deccan Aviation has finally got the approval from the Aviation Ministry to fly seven flights a week between the Bangalore - Heathrow (London) segment. The approval is actually given to Deccan Availation though it seems the UB Group would actually want the Kingfisher brand to use it for its foray into international aviation. Sources say the soft kickoff of the foreign fly will be on September 3 while a complete full fledged operations will be from November 2008. With this, Kingfisher-Deccan will become the third, after Jet-JetLite and AirIndia-Indian Airlines to get the approval to fly abroad.

Entry Filed under: Equity Markets, Telecom, Steel, Aviation