Markets end in red

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Markets end in red
Mumbai, Apr 1: Benchmarks ended marginally in the red as bulls ran out of steam after eight-day long winning streak. Gains in realty, metals and power stocks were offset by losses in banks, oil&gas and technology stocks.

The BSE"s Sensex closed at 19425.88, it shed 19.34 points (0.10%). Meanwhile NSE"s Nifty ended at 5828.05, down 5.70 (0.10%).

Among the interesting information shared by the companies were.

Hindalco Industries achieved financial closure of the Mahan project with the signing of common rupee loan agreement worth Rs 7,875 crores. It is setting up a greenfield aluminium smelter project in Madhya Pradesh with a capacity of 359,000 TPA of aluminium supported by 900 MW captive power plant at a cost of Rs. 10,500 crores.

Shares of Kalpataru Power Transmission moved higher after the company bagged orders aggregating Rs 950 crores.

Bafna Spinning Mills & Exports has approved sub division of shares of face value Rs 5 each into five shares Re 1 each, this slit is expected to make it all the more affordable.

Lakshmi Machine Works has approved to buy 50 per cent stake in Rieter-LMW Machinery (RLM), a joint venture company, from partner Rieter Machine Works, Switzerland. RLM now will be wholly owned subsidiary of the company.
4.23 p.m. 

Markets remain volatile with both the major index going in the red. At 1.55 p.m. while Sensex was lagging by -3.15 points at 19,442.07; the Nifty was trading at a defecit of -7.25 at 5826.50.

Tata Consultancy Services has signed a multi-year, multi-million dollar deal with Air Liquide LLC, subsidiary of Air Liquide Group, to provide end-to-end application development and maintenance services.

Hindustan Construction Company has made payment towards redemption of outstanding FCCBs of nominal value $96.6 million, which were due for redemption on April 1, 2011 (Maturity Date). The company has paid an aggregate amount of $133.03 million consisting of principal amount and accumulated premium on redemption of the FCCBs.

Tata Steel Limited has increased its stake in Tinplate Company of India to 59.45 per cent from 42.88 per cent. With this TCIL has become become a subsidiary of the company with effect from April 1, 2011. This increase is due to automatic and compulsory conversion of 3 per cent fully convertible debentures of Rs 100 each held by the Company into equity shares.

NTPC"s unit 3 of 500MW of Simhadri Super Thermal Power has been commissioned on March 31, 2011. With this, the company"s total capacity has become 34,194 MW.

Shares of Mindtree were in action after the company appointend Dr. Albert Hieronimus as its new chairman. 

Nirma's founder, has been told by SEBI to hold the delisting of the company's stocks as it probes a possible violation. The regulator has directed stock exchanges to put the delisting on hold, regulatory filings show. 

Maruti Suzuki sales in March 2011 grew 28.2 per cent to 121952 units as compared to same period a year ago. The company sold 1271005 units in fiscal 2010-11, a growth of 24.8 per cent over previous fiscal.

The promoters and lenders of Kingfisher Airlines have converted 7.5% compulsory convertible preference shares of Rs 10 each into equity shares at conversion price of Rs 64.48 per share.
2 p.m.

Indian equity market is a bit edgy on opening today, the first day of the financial year 2011-12. After moving in the positive terrain for the first hour of trade, it has take a leap on the negative side. At 10.32 a.m. the Sensex had just come back on the positive side and added 0.54 points at 19445.76, similarly nifty had opened on the green side but few minutes before 10 a.m is went to the red side. Its trading at 5827.10 after shedding -6.65 points. Although it seemed to be on a recovery path.

Global markets were seen flat during their trade. This could be due to the rise in Brent crude, which has reached USD 117 a barrel.

Among the major news on stocks that you can watch for some time would be.

Smartlink Network System will sell its Digilink busines to Schneider Electric for INR 503 crore.

Meanwhile there werer media reports that Tata Power will stop supplying power to Reliance Infrastructure, the Anil Dhirubhai Ambani Group company which distributes power in sub-urban Mumbai.

Then GMR Airports which are a subsidiary of the GMR Infrastructure recieved investment from Macquaire SBI infrastructure investment fund accoding to their press release filed with the BSE.
10.37 a.m.  

Read more about: bse, nse, sensex, nifty
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