Hindalco On Firm Ground, Forges Ahead

At 10:03 am, Hindalco IndustriesHindalco Industries is quoting at Rs 173.90, up Rs 9.45, or 5.75%. The scrip has touched an intraday high of Rs 174.45 and an intraday low of Rs 167.50.

Today the scrip was trading with volumes of 2,577,720 shares. Yesterday the share closed up 6.17% or Rs 9.55 at Rs 164.45.

Hindalco is a flagship company of Aditya Birla Group, which is divided into two strategic business sections i.e. Aluminium and Copper. Hindalco is an industry leader in both sectors.

It is one of the world’s biggest aluminum rolling company and the biggest producers of primary aluminium in Asia.

BJP MP Moghe Disqualified For Holding Office Of Profit

New Delhi: Krishan Murari MogheBJP MP Krishan Murari Moghe has been disqualified from the Lok Sabha for the reason that he held an office of profit by holding a position with the grade of cabinet minister in Madhya Pradesh.

The sources said that the President Dr. A.P.J. Abdul Kalam has supported the opinion of the Election Commission in this regard.

The Commission had sent its judgment to the President last month, commending the Moghe’s disqualification.

Jay Bharat Maruti Up On Strong Q1 Numbers

In early tradingJay Bharat Maruti (10:22 am), Jay Bharat Maruti is quoting at Rs 48, which showed an advancement of Rs 5.10 or 11.89%. The scrip has touched an intraday high of Rs 48.75 and an intraday low of Rs 42.90.

The company reported a net profit of Rs 15 crore (Rs 150 million) as against Rs 6.5 crore (Rs 65 million) in the same period of the last year. The quarterly result of the company showed an increase of 131%.

Today, it is trading with volumes of 11,655 shares as compared to its five-day average of 2,735 shares, an increase of 326.20%.

Yesterday the share gained 2.02% before closing.

UTI Bank Net Spurts 45.15% In Q1

UTI BankUTI Bank declared a significant rise of 45.15% in net profit for the quarter ended June 2007. The company witnessed an increase in profit to Rs 1,749.80 million from Rs 1,205.50 million in the corresponding period of the last year.

The interest as well as operating income for the quarter climbed up 61.12% to Rs 15,369.7 million, whereas the total income for the quarter mounted 59.47% to Rs 18,792 million both as against the same quarter, a year ago.

In contrast, the earnings per share (EPS) for the quarter boosted 43.85% to Rs 6.2 compared with the corresponding quarter, a year ago.

ICICI Bank’s Dubai Link Produces Tepid Interest

ICICI BankICICI Bank was trading nearly flat at Rs 968.90 at after state-owned Dubai International Capital said it had bought a 2.87% stake in India's largest private sector bank.

The news hit the market after trading hours yesterday, 12 July 2007.

The scrip touched an intraday high of Rs 990.90 and an intraday low of Rs 966 during the day. Nearly, 8.67 lakh shares had changed hands in the scrip, and recorded an average daily volume of 3.53 lakh shares in the last three months.

Agra Will Soon be a Model Tourist Destination

AgraNew Delhi: Today the centre stated that it is enthusiastic about developing the Agra city as a model tourist point as Taj Mahal was nominated one of the ‘Seven Wonders’ of the World.

Urban Development Minister S. Jaipal Reddy said, “We are interested in developing the Agra city. But a lot will depend on the initiative of the Uttar Pradesh government.”

Market Ends The Day On A Sturdy Note

After making healthy opening, the BSE sensitive share index traded in a rangebound mode for most part of the day. Later on, the Sensex attained additional strength as continued buying interest was seen in index pivotals, lastly to end the day on a sturdy note. The stocks from banking, auto and telecom were in the public interest, whereas cement and IT stocks led the declines.

Greenply Industries Weight Increases On Capacity Enhancement

Greenply IndustriesGreenply Industries zoomed 8.17% to Rs 179.50 on booming growth of its laminate facility at Behror, Rajasthan.

In the meantime, the BSE 30-share Sensex was up 156.48 points, or 1.05%, to 15066.

The share price had hit a high of Rs 180, which is an all-time high for the scrip, and touched a low of Rs 169 during the day. Its 52-week low of Rs 81.60 was on 21 July 2006.

Today, there were 25,008 shares for trading on BSE. The share showed an average daily volume of 11,566 shares in the last three months.

Refined Q1 Results Fuel CPCL Share Outlook

Chennai Petroleum Corporation Ltd.After reporting an increase of 26.93% in net profit in Q1 June 2007,  Chennai Petroleum Corporation came up 4.32% to Rs 296.95 in afternoon trading. The company declared the quarterly results during the market hours.

At the same time, the BSE 30-share Sensex was up 190.68 points, or 1.27%, to 15,099.

Mukand Gains Strength

Mukand Mukand Ltd.climbed up 4.89% to Rs 88 in early trading on media reports that existing managing director Niraj Bajaj may put back Rahul Bajaj as chairman in the steel company.

Reports advocate that Bajaj Group is also thinking over to increase stake in Mukand.

The scrip touched an intraday high of Rs 92 and an intraday low of Rs 85.30 during the day. On BSE, there were 1 lakh shares in the scrip.

In last one quarter, the daily average volume of the stock stood at 54,222 shares.

World Bank Lends Extra US$ 65 Mn For APRPRP

World BankNew Delhi: Today, the World Bank sanctioned an added loan of $65 million (Rs 260 crore) to Andhra Pradesh Rural Poverty Reduction Project.

The World Bank said since its beginning in 2003, this programme has thus far bettered the lives of some 5.7 million women.

This added funding will support vital investments in institution and capacity building that will permit community institutions of poor women become sustainable and self-directed.

Market Ends On A Weak Note Despite Firm Trading

Today, the Bombay Stock ExchangeBSE Sensex ended on a flat note after hitting a new high of 15,114.95. Lastly, it settled at 15,009.88 after losing 35.85 points, whereas the NSE Nifty ended the day at 4,406.05, down 13.35 points.

After opening at 15,100.13 in the morning trade, the BSE Sensex continued to trade solidly. Afterward it lost power and slid into the negative territory, touching a low of 14,966.40. The stocks from auto and IT were in the public interest, whereas cement stocks led the diminutions.

Sensex Falls Below 15k Mark

Sensex DownMumbai: Tracking feeble worldwide markets, the benchmark Sensex plunged below 15,000 mark level by receding more than 180 points in early trading on the BSE.

Yesterday, the BSE-30 share Sensex missed 35.85 points. Today, it dunked 180.33 points to drop below 15,000 level to 14,829.55 points in the first five minutes of trading.

In the same way, on the wide-based National Stock Exchange (NSE), Nifty misplaced 51.05 points at 4,355.00 points.

Infosys Q1 Profit Surges 34.5%, Beats Forecast

Infosys Technologies BangaloreBangalore: Today, Infosys Technologies has declared the results for its first quarter ended March 31, 2007.

For the first quarter ended June 30, the IT major posted a 34.5 per cent growth in consolidated net profit that stood at Rs 1,079 crore.

The net profit of Rs 1,079 crore comprises a reversal of tax provisions totaling to Rs 51 crore. Earnings per share (EPS) augmented to Rs 18.89 from Rs 14.36 for the same quarter in the preceding year, a year-on-year growth of 31.5 per cent.

GAIL, Apollo Tyres Enters Pact To Use Eco-Friendly Technology

Apollo TyresNew Delhi: State-run gas utility GAIL (India) and Apollo Tyres has signed up a contract for making power from steam.

According to the company release, GAIL will supply steam from its Vaghodia Compressor Station (near Vadodara) to Apollo Tyres that would produce power for it.

HDFC Bank Q1 Net Up 34.3% At Rs 321 Cr

HDFC BankMumbai: HDFC Bank Ltd said its net profit for the 2007 first quarter arose 34.3 per cent, hiked up by higher credit expansion that held up ascending interest rates.

Net profit for the April-June period ascended to Rs 321 crore from Rs 239 crore a year earlier.

Total income rose 47.2 per cent to Rs 2,642 crore from Rs 1,795 crore.

HDFC Bank was incorporated in August 1994 and started processes as a Scheduled Commercial Bank in January 1995. As on March 31, 2007, it had a nationwide network of 684 branches and 1605 ATM's in 316 Indian towns and cities.

South Indian Bank Posts Rs 30.3cr Q1 Net Profit

The South Indian BankThe South Indian Bank has posted its 1st Q results of FY08. The bank has announced the net profit of Rs 30.3 crore (Rs 303 million) in the first quarter versus Rs 15.05 crore (Rs 150.5 million) in corresponding quarter of previous year.

However, the CNBC-TV18 estimates articulated that, the bank's net profit in Q1 was expected to be up 56.8% at Rs 23.6 crore versus Rs 15.05 crore on YoY basis.

Rupee Resilient Against Dollar In Early Trade

US CurrencyThe Indian Rupee showed some resilience resuming higher against the US currency in early trade today.

The local currency resumed higher at 40.39/40 a dollar from overnight close of 40.42/43 per dollar but later fell back to 40.41/42 a dollar in late morning deals in quiet trade at the Interbank Foreign Exchange (forex) market.

HDFC Bank Stock Dips Despite Good Q4 Numbers

HDFC BankHDFC Bank declined 1.15% to Rs 1154.70 in afternoon trading in spite of reporting 34.24% increase in net profit in Q1 June 2007.
The quarterly outcomes were declared during the market hours today 10 July 2007.

The scrip hit an intraday high of Rs 1185.95 and an intraday low of Rs 1145.60 during the day. On 28 May 2007, it has had its 52 week high of Rs 1274 and a 52 week low of Rs 693.10 on 19 July 2006.

J&J To Buy Back Shares $10 Billion Worth

Johnson & JohnsonThe world's largest maker of healthcare products – Johnson & Johnson will begin a USD10 billion share buyback program. This repurchase program will help the company to continue investing in future growth opportunities.

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