Thursday 7 November 2013

Sensex, Nifty up; IT, metal scrips gain

Some buying activity is seen is IT, metal, teck and realty sectors on BSE, while consumer durables and power sectors are losing sheen

At 12:57 PM, S&P BSE Sensex is 21,086 up 191 points, while CNX Nifty is at 6,265 up 50 points.

BSE Mid-cap is at 6,312 up 25 points, while BSE Small-cap is at 6,129 up 29 points.

Some buying activity is seen is IT, metal, teck and realty sectors on BSE, while consumer durables and power sectors are losing sheen.

Tata Steel, Infosys, Hindalco, TCS, SSLT, ONGC and L&T are up on BSE, whereas BHEL, Coal India, Bharti Airtel, Tata Motors, Gail and Dr Reddy's Lab are showing some weakness.

Larsen & Toubro said that its subsidiary L&T Construction has won orders worth Rs. 23.09 billion. L&T is 1.48% up on BSE.

Bajaj Electricals gained 3.95% on the news that its Engineering & Project Business Unit has bagged Power Distribution Projects worth Rs. 7.57 billion under RGGVY (Rajiv Gandhi Gramin Vidyutikaran Yojna) Scheme.

Ashok Leyland is 3.39% down on BSE on the news that the company has reported a net loss of Rs. 250.54 million for the quarter ended September 30, 2013 against net profit of Rs. 1.43 billion for the quarter ended September 30, 2012.

Raymond gained 1.34% on BSE on the news that the company plans to increase its exports four-fold in the next five years to seek growth as the domestic market faces a relative slowdown.

Essar Ports is 1.33% down on BSE on the news that the company has failed to qualify for the Rs. 80 billion fourth container terminal bid at Jawaharlal Nehru Port Trust.

Bajaj Auto reported a 4% decline in motorcycle sales at 348,323 units in October. In the commercial vehicles category, the company said its sales stood at 37,000 units against 50,316 units in the corresponding month last year, down 26%. The scrip is 0.98% up on BSE.

The Telecom Commission has proposed raising the base price of spectrum in the 1800 Mhz band by more than 15% over what the sector regulator had suggested, and in the 900 Mhz by around 25%, though the starting levels still remain sharply lower than those in the past two auctions.

The Union Cabinet will discuss the much awaited National Company Law Tribunal (NCLT) today. This body will be set up for implementing most provisions of the new company law.

The Reserve Bank said it has received $15.2 billion so far from the special swap windows opened to attract FCNR-B deposits as well the special ECB window facility for banks.

Nikkei closed 108 points down at 14,228, while Hang Seng is trading 126 points down at 22,910.

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