Reliance Petroleum Continues Its Recent Upsurge

Reliance PetroleumContinuing its recent rise, Reliance Petroleum gained 3.26% to Rs 112.60 in afternoon trading.

Today, the scrip had touched its all-time high of Rs 112.50. It hit a low of Rs 109.30 during the day thus far. It has had its 52-week low was Rs 51 on 25 July 2006.

There were 55.22 lakh shares for trading on the BSE counter. In the past one quarter, the normal daily volume in the stock was 33.94 lakh shares on BSE.

Pfizer Bounces On Strong Q2 Results

PfizerOn reporting a 618.19% increase in net profit in Q2 May 2007, Pfizer lifted 1.18% to Rs 820.10 in afternoon trades. The quarterly results were declared during the market hours.

During the day, the scrip touched an intraday high of Rs 840 and an intraday low of Rs 808. It has had its 52-week high of Rs 965 on 10 October 2006 and 52-week low Rs 666.10 on 28 July 2006.

On BSE, there were 93,947 shares for trading on the counter. In the last one quarter, the standard daily volume in the stock was 9,795 shares. Its share price declined from Rs 852.20 to Rs 802.60 on 22 June 2007. It rose from here to reach Rs 810.50 on 27 June 2007.

Manmohan Will Soon Finalize Indo-US Nuclear Deal

Prime Minister Manmohan SinghNew Delhi: With discussions on two-sided contract to operationalize Indo-US civil nuclear deal, Prime Minister Manmohan Singh stated that that it would be done soon.

“There are one or two issues to be resolved,” Mr. Manmohan said referring to the planned 123 arrangement.

While addressing the reporters on the sidelines of a book release function, he showed sureness that the deal will be nailed down in a little while.

He added that he would take Parliament into confidence after the deal gets finalized.

Nirma Declines On Quarterly Net Loss

Nirma Ltd.Today, Nirma Ltd touched a low of Rs 181 after the soaps and detergents maker posted an unaudited net loss of Rs 93.45 crore for the March quarter.
For the year-ago quarter, the company had recorded a net profit of 95.17 crore on an unaudited basis. The shares are now trading 3.5 per cent lower at Rs 186.55.

Sensex Gains 105 Points In Early Trading

Mumbai: On BSE Sensexrapid buying by funds in heavy-weight stocks led by cement sector, the BSE Sensex soared by more than 105 points in early trade. Select stocks from cement, banking, telecom and pharma traded strong while auto stocks led the declines.
The BSE-30 share index, Sensex, which had vanished more than 70 points on yesterday’s closing, rise dramatically by 105.98 points at 14,537.04 in the first five minutes of trading. In the same way, the wide-based National Stock Exchange's index Nifty shot up by 42.45 points at 4,291.40.

Shiv Sena In No Mood To End Coalition With BJP

Shiv Sena chief Bal ThackerayMumbai: The Shiv Sena cleared up that it did not wish to cease its grouping with the Bharatiya Janata Party (BJP) over the president selection matter. On Monday night, the political party made a decision to back up the UPA applicant Pratibha Patil as she was a woman and a Maharashtrian.

BSE Consumer Durables Index Hits All-Time High

BSE Consumer Durables closed at its all-time high of 4,216 after gaining 52.71 points, or 1.27%.

The index also hit a peak of 4,261.51 during the day.

The components taking the index to achieve its all-time high were Titan Industries, which climbed up 3.92% to Rs 1329.40, Rajesh Exports that arose 0.13% to Rs 525.85, Gitanjali Gems benefited 0.37% to Rs 204.20 and Lloyd Electric gained 3.92% to Rs1329.40.

In BSE Consumer Durable index, Titan Industries, Rajesh Exports, Gitanjali Gems and Lloyd Electric showed high weightages of 34.01%, 8.14%, 5.03% and 4.03%, correspondingly.

CPI Panel Backs Panel Reports On Suspension

New Delhi: Communist Party of IndiaYesterday, the central committee of the Communist Party of India (Marxist) supported the Polit Bureau’s verdict to suspend Kerala Chief Minister V.S. Achuthanandan and party State secretary Pinarayi Vijayan. However, the party did not set any time period for the action of the corrective action.

While talking to the media at the end of the committee’s three-day meeting general secretary, Prakash Karat stated that the organizational situation in Kerala was also conferred. At its next meeting, the group would take stock of the situation.

AIA Engineering At 52-Week High

AIA Engineering LimitedToday, AIA Engineering has touched its 52-week high of Rs 1,718. At 12:31 pm, the share is trading at Rs 1,685.50, up Rs 83.95, or 5.24%.
The scrip is trading with volumes of 95,302 shares. Yesterday the share closed after gaining 0.20% or Rs 3.20 at Rs 1,601.55.

Market May Remain Volatile – Ashwani Gujral

Ashwini GujralThe stock market (BSE) has followed the same volatile pattern once more. It remains strong throughout the week, and analysts have suggested a strong resistance level at 14595.
The support for the Sensex is at 14425, and the resistance to the up move at 14526-14540-14584-14594. On the other hand, the support for the Nifty is at 4236 and resistance to the up move at 4286-4290-4322.
According to Ashwani Gujral the Nifty would trade in a higher place at 4,300, before any major rectification kicks in.

No Impact Of JV Deal On Sail Stock Value

In early tradeSteel Authority of India, Steel Authority of India was trading nearly flat at Rs 133.10 after it signed up an memorandum of understanding (MoU) with Manganese Ore India to form a joint venture to manufacture ferro-manganese and silico-manganese.
During the day, the scrip touched a high of Rs 134 and a low of Rs 132.70. The scrip has had its 52-week high of Rs 149.95 on 28 May 2007 and a 52-week low of Rs 64.25 on 24 July 2006.

Jai Parabolic Springs Advances On Merger Approval

Jai Parabolic Jai Parabolic Springs Ltd.Springs Ltd. climbed up by its maximum daily limit of 5 percent to 29.50 rupees as the board okayed its merger deal with Jamna Auto Industries. The company made the declaration in trading hours. The scrip had touched its intraday low of Rs 28 during the day.
Today, about 16,712 shares were traded in the scrip. In the past one quarter, the stock had an average daily volume of 11,212 shares. At its existing price of Rs 29.50, the scrip trades at a PE multiple of 10.13, based on year ended March 2007 EPS of Rs 2.91.

Q1 Results Raise Market Expectations – Abhay Aima

Market Analyst Abhay AimaAccording to market analyst Abhay Aima that markets will take signals from Q1FY08 results.
Mr. Aima also said that existing interest rates would not restrain the growth.
The main determining factor for market actions in the near-term will be liquidity. Markets are not overvalued and not very cheap either.
Though, the rising rupee would not impact companies with sturdy fundamentals.

FDC Heads Gainers In ‘A’ Group

Novartis IndiaBombay Stock Exchange was the top gainer from A group shares on BSE today. It soared up 14.42% to Rs 398.30. Titan Industries, GMDC, GMR Infrastructure and RPL are among the other gainers.
In the year ended March 2007, the company’s net profit slumped 17.93% to Rs 88.55 crore as compared to Rs 107.89 crore in March 2006. The total sales mounted 3.10% to Rs 542.24 crore in the year ended March 2007 versus Rs 525.92 crore in its corresponding period, last year. The company announced the FY 2007 results on 11 May 2007.

Kajaria Ceramics Up On Large Volume

Kajaria Ceramics Ltd.In early trade, Kajaria Ceramics is quoting at Rs 35.70, up Rs 3, or 9.17%. It touched an intraday high of Rs 35.95 and an intraday low of Rs 32.70.

It is trading with volumes of 3,56,114 shares, compared to its five-day average of 1,53,640 shares, an increase of 131.78%. The share remained up 20% or Rs 5.45 at Rs 32.70 on yesterday’s closure.

Kajaria ceramics ltd is the foremost producer of ceramic wall and floor tiles in India. It is the only ceramic tile making business to achieve ‘Superbrand’ rank in India.

BSE Mid-Cap Index Arrives At New Crest

BSE SensexThe BSE Mid-Cap Index has made fresh all-time highs during this intermediate uptrend. It augmented 33.71 points, or 0.53%, to end at 6,417.90. It also hit a record high of 6435.32 during the day.
The components taking the BSE Mid-Cap Index to an upper rank include Entertainment Network, which increased 20% to Rs 506.60, Novartis India gained 14.42% to Rs 398.30, Honeywell Automation boosted 9.81% to Rs 2060, Lakshmi Energy benefited 9.19% and Titan Industries attained 8.78%. But all these stocks have less than 1% weightage each in the BSE Mid-Cap index.
With the second highest weightage of 1.4% in the BSE Mid-Cap index, GE shipping Company cast off 3.45% to Rs 335.90.

Bonus Issue Plan Excels Suraj Stainless

In afternoon tradeSuraj Stainless Ltd., Suraj Stainless jumped 1.54% to Rs 366.25 after its directors suggested a liberal 2:1 bonus. The company made this declaration during the trading hours.

During the day, the scrip touched an intraday high of Rs 374 and an intraday low of Rs 342.70. There were 2.26 lakh shares for trading on the BSE. During the past one quarter, the scrip has an average daily volume of 18,039. At its existing rate of Rs 366.25, the scrip trades at a PE multiple of 20.80 that is based on its year ended March 2007 EPS of Rs 17.60.

Rupee At One-week Low Vs. US Dollar

CurrencyOn the back of continued buying by importers and surmised intervention by the Central Bank, the rupee ended further down at more than one-week low of 40.87/88 versus the U.S. currency on Monday.
At the Interbank Foreign Exchange (Forex) market, the local unit opened up faintly inferior at 40.76/78 per dollar as compared to its Friday’s close of 40.75/76 a dollar.
It diluted more to close at 40.87/88, a sharp drop of 12 paise over its last end. It moved in a range of 40.76 and 40.8950 a dollar.

Shekhawat Files Nomination For President Seat

Vice President Vice President Bhairon Singh ShekhawatBhairon Singh Shekhawat filed his nomination for the presidential election on Monday. He would be challenging as an Independent contender supported by the National Democratic Alliance, minus the Shiv Sena and the Jammu and Kashmir Panthers Party.
Along with former prime minister Atal Bihari Vajpayee, leader of Opposition in the Lok Sabha L K Advani, Bharatiya Janata Party president Rajnath Singh, Jaswant Singh, Sushma Swaraj, and host of other leaders Mr. Shekhawat submitted two sets of nomination documents to Returning Officer P.D. Achary at Parliament House.

Jet Airways Is Weathering The Storm – Sudarshan Sukhani

Technical Analyst, Technical Analyst Sudarshan SukhaniSudarshan Sukhani is of the view that investor should hold up Jet Airways stock as it has expectations to rise.
Sukhani stated that it is rising from a long-term bear market. It has really emerged of that, and established a large base, and presently it’s moving in the up-ward direction.

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