Markets end on the green side

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Markets end on the green side
The Indian benchmarks extended winning streak for eighth consecutive session and ended the finnacial year on the green side. National Stock Exchange"s Nifty ended at 5833.60, up 45.95 points or 0.79 per cent. The broader index touched a high of 5872 and low of 5778.65 intraday.

Where as the Bombay Stock Exchange"s Sensex closed at 19462.50, up 172.32 points or 0.89 per cent. The 30-share index touched a high of 19575.16 and low of 19284.35 in today"s trade.

Meanwhile the important corporate announcement since our last update were:

Kalpataru Power Transmission has received new orders worth Rs 950 crore. And Tata Power announced that it has commissioned 120 MW unit at Jojobera Thermal Power Station in Jamshedpur.

Larsen & Toubro has sold its stake in L&T-CASE Equipment to its joint venture partner CNH Global NV.

The consortium of Ramky Infrastructure and Jiangsu Provincial Transportation has tied-up for a debt of Rs 1440 crores for NHAI project. The estimated cost of the project is Rs 1600 crores.
5.03 p.m.

The markets continue to pare their initial gains with the Sensex at 19371 up 88 points. The day's high was 19575. The Nifty too has pared most its gains and is currently at 5804 gaining 17 points.

In the broader markets, the midcap and smallcap index slipped into the negative.

Among the sectoral indices, realty, bankex, auto, consumer durable and health care indices have slipped into the negative. Meanwhile, IT index gaining 1.7% leads the chart followed by FMCG, tecnology, Capital Goods and Oil & Gas.

On the company front, following are the news -

Adarsh Plant Protect has received Rs 2.99 crores order from the Punjab government for supply of seed dressing drums.

Aurobindo Pharma has received approval from USFDA to manufacture and market Fosinopril Sodium tablets. The drug is used for treatment of hypertension and has a market size of $20 million for the twelve months ending September 2010.

Kirloskar Oil Engines has approved disposal of bearing business division situated at Khadki, Pune and at MIDC, Ahmednagar to Pierburg India.

Informing the exchange, Titan Industries has denied the news item in a daily,"Titan stock rises on bonus issue buzz", and called the news item as speculative.
2.41 p.m. 

The markets have remained bouyant, ganing stedily. IT, Technology, FMCG etc stocks have led the upmove compared to auto space which was on the negative side on the Bombay Stock Exchange. At 12.52 Sensex was 224 points up at 19515 and Nifty was at 5846, 58.35 points up.

Talwalkars Better Value Fitness has opened health clubs in the cities of Bareilly, Belgaum and Bilaspur as it's 96th, 97th and 98th health club. With this the company has 98 health clubs in 49 towns across India on a consolidated basis.

KEC International has won orders aggregating to Rs 801 crores.

The global depository receipts of Winsome Yarns have been listed on the Euro MTF market. The stock reacted positively and was at Rs 2.40, up 7.62 per cent on the BSE.

Smartlink Network Systems has agreed to sell Digilink business to Schneider Electric for Rs 503 crores. 

Glenmark Pharmaceuticals has announced the discovery of new molecule GBR 401, targeting Lymphomas and Leukemia's of B-cell origin.

Welspun Corp has bagged new orders worth Rs 1182 crores and its order book now stands at Rs 6,153 crores.

In a major setback to Mahindra Satyam, the Andhra Pradesh High Court on Wednesday asked the company to issue bankers' cheques worth Rs 350 crore to the Central Board of Direct Taxes. The company was also asked to provide an unconditional bank guarantee worth Rs 267 crore to the tax authorities.

The Central Bureau of Investigation is likely to chargesheet three officials of the Anil Dhirubhai Ambani Group (ADAG) and senior executives of real estate firm Unitech, in addition to former telecom minister A Raja, his aide RK Chandolia, former telecom secretary Siddharth Behura and realtor Shahid Balwa, on April 2.

AV Birla Group's flagship company Hindalco is planning to raise Rs 8000 crores for Aditya Aluminium project. The fund raising is expected to close in Q1FY12. Hindalco is on a fund raising spree to put all their domestic projects on a fast track.
12.55

Continuing the eight session on a higher note, at 9.55 a.m. the benchmark Sensex climbed another 108.26 points to 19398.44, meanwhile Nifty traded at 5817.45 with a gain of 28.90.

If the enthusiasm does not end the the indices will end the month of March with gains. The Consumer Durable index on the BSE was high enthusiasm as it was up by 1.48% in one hour of the session. Metal and Auto were under selling pressure as they lost 0.14% and 0.50% respectively.

About 40 shares were pushing the markets higher while only 10 shares declined on the Nifty 50.

As Sebi cleared Sesa Goa open offer to acquire 20% in Cairn India, priced at Rs 355 per share. Sesa Goa rallied 2% and Cairn India was up 1.5%. 

Welspun Corp was up 5% it bagged order of Rs 1,182 crore. The total order book reached Rs 6,153 crore.

Tata Coffee went up 3.5% as certain media reported that Starbucks will buy stake in Tata Coffee JV.

DB Realty goes up 6% where as Unitech was up 1% on high volumes.

However, the uncertainty in Lavasa case forced to take HCC a 2.5% cut .
10.11 a.m. 

OneIndia Money

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