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Interest shifts to cricket: Markets still up


Interest shifts to cricket: Markets still up
Mumbai, Mar 30: The day ended on a positive note. The indices closed on a good note as Sensex gained 169 points to 19290, along with 51.30 point gain for Nifty. The Nifty reached 5800 mark in intraday.

TTK Healthcare issued an announcement on the Bombay Stock Exchange, it stated:"It has been brought to our notice that a section of the Press Media has reported that TTK Healthcare is in talks with a multinational Company for a JV in the Household Cleaners Segment. This report is speculative and there is no basis for the same."


Zicom Electronic Security Systems is set to sell entire stake of 76 per cent in Hong Kong subsidiary Zicom Manufacturing (HK) at a lumpsum price of approximately Rs 1.43 crores.

The Road Infrastructure Development Company of Rajasthan (RIDCOR) which is a 50:50 joint venture between the Infrastructure Leasing & Financial Services (IL&FS) and the government of Rajasthan has bagged Rs 814 crores project for development of seven road stretches. The project is on toll basis with a concession period of 32 years including construction period of two years.

Torrent Pharmaceuticals has termed reports appearing in the media that it plans to sell stake to AstraZeneca as baseless and untrue. The stock slipped to Rs 576, down 0.40 per cent on the BSE. It touched a high of Rs 626.95 and low of Rs 570.75 in trade so far.
4.15 p.m.

Indian indices also showed saw some retraction after 2 p.m. as interest must have shifted from trading to cricket match between India and Pakistan. Sensex was at 19249, 128 points up. Meanwhile Nifty was at 5775 up by 39.35 points after touching the high 5,803.15 for the day.


The important information shared by the companies through the exchanges since mid-afternoon has been:

Sanwaria Agro Oils has fixed April 08, 2011 as the record date to issue bonus shares in proportion of one equity share for every one held by them.

Energy Development Company consortium has been awarded Rs 20 crores contract to design, test and commission turbine, generator and associated equipment at Kumbhe Hydro Electric Project from the Government of Maharashtra. The contract is to be completed within a period of 24 months.

Kirloskar Oil Engines has entered into a license agreement with Daihatsu Diesel Manufacturing, Japan, for manufacture of diesel engines in range of 610 KW to 2560 KW to cater to the commercial marine market segment.

Shares of BHEL were witnessing some buying activity after reports that the company has bagged Rs 5,450 crores order from a Bajaj group.
2.44 p.m.

The benchmark Sensex maintained its upmove for the seventh consecutive session, aided by financial, technology, realty, infrastructure, oil & gas and select metal companies' shares. Till 12:45 p.m., BSE Sensex was cruising at 19341.13, with gains of 193.33 points; NSE Nifty had gained 53.80, reaching 5790.10.

Among the major filings till now are:

Financial Technologies (India) Limited has informed that on July 18, 2009, the Company had sold shares of MCX Stock Exchange Limited for Rs.251.56 crores to a Financial Institution, 'Purchaser'. The said sale was subject to a customary price reset, pursuant to which the excess amount of Rs 179.69 crores has been repaid to the Purchaser.

Sara Elgi Arteriors Limited, the wholly owned subsidiary of Super Spinning Mills, has acquired 58.32 per cent stake in Elgi Building Products, manufacturer of PVC extrusions.

Lucasfilm and Prime Focus have announced their collaboration on the 3D conversion of Star Wars; Episode I The Phantom Menace for theatrical release.

The Reserve Bank of India has questioned the valuation and structure of the high-profile deal cut by private lender Axis Bank last November to buy Enam Securities-an influential Dalal Street brokerage and investment bank. The banking regulator has asked Axis to justify the valuation of the all-stock transaction worth Rs 2,067 crore.

NTPC's unit 3 of 500 MW of Simhadri Super Thermal Power Project has been successfully synchronised with grid on coal firing.

Bank of the Lao PDR, the central bank of the Lao People"s Democratic Republic, has selected Oracle Flexcube Universal Banking as its adminisitrative core banking system.
12.50 p.m.

Indian equity benchmarks kept their thrust, continuing their rally for the seventh consecutive session today. Global cues were positive with oil prices stablising at USD 114-115 a barrel.

TCS, Dr Reddy's Labs, Sun Pharma, Ranbaxy Labs, Sesa Goa, M&M, Maruti, Bajaj Auto, BHEL, ONGC, ICICI Bank, HDFC, Reliance Industries, Infosys, L&T, Jaiprakash Associates, HUL and ITC were pushing the markets higher.

However, Bharti Airtel and BPCL were the big losers in opening part of the session.

At 10:13 hours, the BSE Sensex was trading at 19,339, up 219 points, meanwhile the NSE Nifty gained 62 points at 5798.

New Listing - PTC India Financial Services was trading at INR 25.4, down nearly 10% from issue price of INR 28 a share.

Among the major news with which the exchanges starting trading were:

Paper stocks were in limelight after AP Paper Mills deal with International Paper. US based International Paper will acquire 53.5% stake in AP Paper Mills for USD 257 million. It will also issue an open offer for 21.5% stake worth USD 104 million from the market. If the open offer is successful, the company will reach the maximum limit of 74% that a company is allowed as per current regulation. The US based company also agreed to give approximately Rs 280 crore non-compete payment to the seller.

AP Paper Mills was locked at 20% upper circuit. Orient Paper, West Coast Paper, JK Paper, BILT and TNPL rallied 15-20%. Rama NewsPrint gained 5%.

Then Bombay Dyeing openend positive and is expected to go up further as there was management rejig. The younger son of industrialist Nusli Wadia, Jehangir N Wadia, will take over the reins from his elder brother Ness N Wadia. Jehangir N Wadia will be the managing director of the textile and real estate company, Bombay Dyeing & Manufacturing Company, from April. Ness N Wadia, will step down as the joint managing director of Bombay Dyeing on March 31, 2011.

DB Realty jumped 16% yesterday as the company informed the exchange that the arrested officials have not done anything illegal and they are supporting the investigation department.
10.15 a.m

OneIndia Money

Read more about: sensex nifty bse nse news
Story first published: Wednesday, March 30, 2011, 10:18 [IST]
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