03:30 pm Market close: Boosted by IMF's positive
stance on India, the market made some smart gains today. The market ended up
271.24 points or 0.9 percent at 28930.41 and the Nifty was up 76.05 points or
0.9 percent at 8776.00. About 1642 shares advanced, 1238 shares declined and
211 shares were unchanged.
Metals, power, infra, auto and FMCG stocks saw strong buying action. Sesa
Sterlite, NTPC, Hindalco, Sun Pharma and BHEL were top gainers in the Sensex.
Losers include Dr Reddy's Labs, M&M, Coal India, Bajaj Auto and HUL.
03:20 pm Buzzing: Shares of SpiceJet surged 14 percent
intraday as it has increased payment for the services to AAI after the airline
received Rs 500 crore equity infusion from the new owner. The budget carrier
owes nearly Rs 300 crore to the national airports operator for landing, parking
and other charges,
The airline is now paying Rs 75 lakh per day to the airports operator for
availing the services as against its per day billing of about Rs 70 lakh,official sources said. SpiceJet was earlier paying Rs 50 lakh per day to AAI
for the landing, parking and other charges.
However, the airline has now started paying Rs 75 lakh to it against its
daily billing of about Rs 70 lakh," they said. Its total outstanding
towards Airports Authority of India (AAI) at present stands at Rs 297 crore,
they said, adding, "We are expecting a partial payment of these dues from
the airline shortly".
03:10 pm Pharma ministry: The government may
establish a separate Ministry for the pharmaceuticals sector, which would comprise
all departments that deal with issues related to the industry.
"For the benefit of end user, the customer and considering the size of
industry... there should be a separate Pharma Ministry.
"Therefore, I, along with Minister of State Hansraj Ahir, will approach
Prime Minister and request him to look into this matter," Fertiliser
Minister Ananth Kumar said.
At present, Central Drugs Standard Control Organisation (CDSCO) and Drug
Controller General of India (DGCI), which deal in regulatory control over the
import of drugs, approval of new drugs and clinical trials, are governed by
Health Ministry.
02:50 pm Interview: India's trade ministry has recommended
anti-dumping duty of USD 309 per tonne on Chinese import, USD 316 per tonne on
Malaysian import and USD 180 per tonne on Korean import. Import from these
three countries is 30 percent of India’s domestic demand.
ERC Shekar, director, Sunflag Iron & Steel says if prices go up by
8-10 percent because of this, then overall it will help improve bottomline. 15
percent of the company’s total sales comes from the stainless steel division.
The company is functioning at sub-optimum levels in stainless steel business.
02:30pm Reliance Capital in focus: Sumitomo Mitsui TrustBank, Limited of Japan has completed acquisition of 2.77 percent strategic
stake in Reliance Capital, a part of Anil Ambani led Reliance Group.
The entire proceeds of Rs 371 crore (USD 58.4 million) for the 2.77 percent
stake has been duly received from Sumitomo Mitsui Trust Bank, Limited.
The investment has been made at Rs 530 per share representing a premium of
over 11 percent to the stock price of relevant date of Reliance Capital.
“We welcome Sumitomo Mitsui Trust as our strategic partner in Reliance
Capital. We are confident of accelerating our growth and tap new opportunities
with the help of SMTB’s long standing experience and support” said Mr. Sam
Ghosh, CEO, Reliance Capital.
As part of the agreement, Reliance Capital intends to establish a new Bank
in India, with support of Sumitomo Mitsui Trust Bank as strategic partner, as
and when RBI’s policies permit formation of the same.
02:00pm Market Check: The market maintained its strong
uptrend with the Sensex rising 206.56 points to 28865.73 and the Nifty climbing
57.45 points to 8757.40, supported by metals, capital goods and telecom stocks.
About 1576 shares have advanced, 1175 shares declined, and 200 shares are
unchanged on the BSE.
Shares of ITC, Tata Motors, NTPC, Bharti Airtel, Hindalco Industries and
Tata Steel rallied 2-4 percent. ICICI Bank, Infosys, Sesa Sterlite, BHEL, Hero
Motocorp and GAIL climbed over a percent.
However, HDFC Bank, HUL, Dr Reddy's Labs, M&M, Bajaj Auto, Wipro and
Coal India fell 0.4-1.4 percent.
Sun Pharma Advanced, Nirlon, Reliance Capital, M&M Financial, Tata
Elxsi, ITC, Bharti Airtel, HDFC, NTPC and ICICI Bank were most active shares on
exchanges.
Sun Pharma has been ready with the leadership team for Ranbaxy merger with
self. The team included Aalok Shanghvi, who will lead business of both
companies. He will also head emerging market business while Abhay Gandhi will
be head domestic business and Kal Sundaram will head North American business
and Taro, reports PTI quoting. Both stocks gained 2 percent each. More
information please visit this site www.appsmine.org
No comments:
Post a Comment