Indian markets continued their surge

Business

oi-Shoaib

By Shoaib Md

Published: Monday, December 12, 2011, 12:50 [IST]

Mumbai, Mar 28: Both the index closed up. While Sensex closed at 18943.14, 127.5 points up which is 0.68 per cent. Nifty was up by 33 points at 5687.5. It will be testing the resistance at 5700. Among the major information that came post linch were following.

Blue Star Infotech has been appointed as the IT partner to implement Microsoft Dynamics AX solution and streamline operations of Christ Nishotech, a water-purification company in the pharmaceutical and life sciences space.

Hatsun Agro Product has decided to stop its rural retail operations and said that “closure of the operations does not have any significant impact on the operations of the company."

Century Plyboards has approved demerger of the ferro alloys and cement division to Star Ferro And Cement.

The Great Eastern Shipping Company has taken delivery of new building Supramax Dry Bulk Carrier.
4.16 p.m.

Sensex climbed up by 159.94 points, i.e. 0.85%. The nifty fifty was up by 43.15 points at 5697.4 points.

Ceat has commenced commercial production of passenger / truck radial tyres at Halol plant with effect from March 25, 2011. Marico has divested its refined sunflower oil brand “Sweekar" to Cargill India with immediate effect.

Meanwhile was reported that JSW and Sesa Goa have taken the Bellary Steel fight to supreme court.

And Sterlite Technologies has gained 19% on high order inflow. It is is the third biggest gainer in today's market.
2.46 p.m.

Sensex has remained in the green terrritory albeit with a tepid gain of 65.91 points which translates to 0.35%. Few of the major announcements for the day that requires attention are:

Dr Reddy"s Laboratories has launched Levocetrizine tablets, a bioequivalent generic version of Xyzal tablets in the US market. Levocetrizine had total sales of approximately $238 million for the twelve months ending September 30, 2010.

Future Capital Holdings has approved to sell the stake of 50 per cent held in FCH CentrumDirect joint venture. It plans to acquire 50 per cent stake in FCH Centrum Wealth Managers and make it a wholly owned subsidiary.

Jyothy Laboratories will consider private equity funding to digest a potential acquisition of Henkel India after some big global funds like Carlyle, TPG and Apax Partners approached it with commitments of $100 million each.

NMDC announced that it is likely to delay revision in iron ore prices for the April-June quarter by 15 days to mid-April as long-term contracts with Japanese steel mills have not been renewed yet.

Indian markets opened in the positive terrain extending rally in last session. Bombay Stock Exchange"s Sensex was at 18949.05, up 133 points and National Stock Exchange"s Nifty was at 5688.90, up 34.65 points.
1:05 p.m.

Top gainers across the market were Omakar Speciality, Omkar Speciality, Lahoti Overseas, Jyoti Resins & Adhes, Kumars Online, Avon Organics, Charms Industries, Odyssey Technologies, Universal Office, Howard Hotels, KLRF.

The list of top losers had Ador Fontech, Genus Commu-Trade, Organic Coatings, Danlaw Technologies, Hindustan Bio Science, Remsons Industries, Indokem, Virgo Global Media, Kilburn Office Autom, Brakes Auto (India).

Meanwhile the top movers, i.e. stocks with maximum volumes were Unitech, LIC Housing Finance, Suzlon Energy, IFCI, Jaiprakash Associate, Vijaya Bank, IDBI Bank, Infrastructure Devel, UCO Bank, Punj Lloyd.
10.55 a.m.

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