The markets gained after 9 days of fall

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The markets gained after 9 days of fall
Markets had opened in the green territory, after falling for more than a week. Benchmarks ended sharply higher as investors did bargain-hunting across the board at lower levels. Banks, auto and technology stocks led the rally while oil and gas space ended marginally higher even as oil prices continued to slide lower.

The Sensex was up by 286.05 points reflecting a gain of 1.57%. It touched a high of 18568.48 and low of 18271.68 on the intra-day. Meanwhile the NSE's benchmark index, Nifty, was up 86.30 points (1.58%). The broader index reached a high of 5564.40 and a low of 5472.45 on the intra-day trade. BSE Midcap Index was up 0.92 per cent and BSE Smallcap Index moved 0.64 per cent higher.

Companies under Spotlight.

NIIT Technologies" consolidated net profit stood at Rs 182.22 crores for the year ended March 2011 against Rs 126.37 crores a year ago. Net sales were at Rs 1232.25 crores as compared to Rs 913.71 crores. 

GlaxoSmithKline Pharmaceuticals" standalone net profit for quarter ended March 2011 stood at Rs 46 lakhs against Rs 161.19 crores in the same quarter previous year. Net sales were at Rs 602.90 crores for the quarter as compared to Rs 541.10 crores.

Taro Pharma has filed suit against Suven Life Sciences in New Jersey District Court, USA claiming that Suven"s proposed Malathion product will infringe one or more claims of 445 patent.

Cadila Healthcare reported standalone net profit of Rs 610.38 crores for the year ended 31 March 2011 against Rs 503.27 crores a year ago. Net sales were at Rs 2176.23 crores as compared to Rs 1832.93 crores. 

Rolta India"s standalone reported net profit of Rs 100.84 crores for the quarter ended March 2011 against Rs 194.95 crores in the corresponding previous quarter. Net sales were at Rs 370.75 crores as compared to Rs 355.06 crores.

Zydus Wellness has recommended dividend of Rs 4 per equity share of Rs 10 each, for the year ended March 31, 2011.

Muthoot Finance slipped below its issue price after listing at a premium.

Henkel AG & Co. KGaA has signed a letter of undertaking for sale of 5,93,60,203 equity shares of Henkel India to Jyothy Laboratories for Rs 118.7 crores.

PVR has approved the sale of two crores equity shares of Rs 10 each of CR Retail Malls, a wholly owned subsidiary, to companies belonging to JM Financials Group. PVR shall receive a sum of Rs 100 crores pursuant to the transaction, in the form of refund of existing loans made to CR Retail and consideration against sale of equity shares.

Cipla reported standalone net profit of Rs 214 crores for the quarter ended March 2011 against Rs. 275.53 crores in the same quarter a year ago. Net sales were at Rs 1615.22 crores as compared to Rs 1317.49 crores.

OneIndia Money

Read more about: bse, nse, nifty, sensex
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