Live Markets Commentary
Sify Editors @ 2:10 PM
Sadbhav Infrastructure (Rs 102) looks good for medium term, given the company's fairly good order book and the government's intent on speeding up infrastructure projects.
Sify Editors @ 1:45 PM
Aban Offshore (Rs 223.30) is likely to see good upside in the medium to long term.
With ONGC to hire Aban Offshore's drillship Aban Ice, the company is likely to see a significant increase in revenues over the next three years. The total value of this contract is approximately $72.635 Million.
Sify Editors @ 1:10 PM
Sensex down 208 points as selling continues
As selling continues at several counters, the market, which opened lower this morning on weak global cues, continues to languish in negative territory around early afternoon.
The Sensex is down by about 208 points or 0.7% at 29,213.43, while the Nifty50 of the National Stock Exchange is down 72.65 points or 0.8% at 9035.35.
Sify Editors @ 12:40 PM
5 Stocks in focus
Cimmco Hits 52-week high
Cimmco Limited shares vaulted to Rs 97.85 on the National Stock Exchange (Rs 97 on BSE) this morning, hitting a 52-week high, on fairly strong volumes.
The stock is currently trading at Rs 94.50, up 7.2% from previous closing price.
On BSE, the Cimmco counter has recorded a volume of around 2.9 lakh shares so far in the session, more than three times its daily average volume. On the National Stock Exchange, the Cimmco counter has clocked a volume of over 10.9 lakh shares so far in the session.
Godrej Properties rose to Rs 405.10 on NSE this morning following the company entering into an agreement with Shivam Realty for a housing project in Mumbai.
The group housing project, spread over an area of 5 acres, with a saleable area of one million square feet, is located off the Akurli Cross Road at Hanuman Nagar, Kandivali East, Mumbai.
The company, which is the real estate arm of the Godrej Group, is currently developing residential, commercial and township projects spread across about 12.93 million square meters in 12 cities.
At Rs 398, the stock is now down 0.4% from previous closing price.
Airlines stocks Indigo, SpiceJet & Jet Airways
Airlines stocks are having a good outing today, extending recent gains.
Shares of Interglobe Aviation Limited (Indigo) are up more than 3% at Rs 1051.50, after rallying to a high of Rs 1055.
SpiceJet is gaining 5.4% at Rs 99.20 and Jet Airways is up 2.8% at Rs 505.80. SpiceJet and Jet Airways turned in good performances in the previous quarter, recording significant profits. SpiceJet has pipped Jet Airways to become the second largest airlines stock in terms of market capitalisation. Indigo is ranked number one market cap.
Sify Editors @ 12:10 PM
Larsen & Toubro (Rs 1547) is likely to advance, riding on strong order book. Hold for medium term and add small quantities at declines.
The company announced this morning that its Water & Effluent Treatment Business segment has bagged an order worth Rs 705 crore. The project will be executed by L&T in a joint venture with Shriram EPC.
Sify Editors @ 11:30 AM
Reliance Industries falls; market regulator imposes fine
Reliance Industries Ltd falls as much as 1.88 pct.
India's market regulator accuses co of having committed a "fraud" in taking a short trading position at the time of selling a stake in a unit in 2007.
Securities and Exchange Board of India orders Reliance Industries to surrender most of gains, plus interest; bars it from trading in derivatives for one year.
Reliance Industries strongly denies, says will contest SEBI's decision.
Impact of fine would be short-term and stock should retrace once the event is over, says Rohit Ahuja of Religare Capital Markets.
Up to Friday's close, stock had risen about 19 pct this year.
Sify Editors @ 11:00 AM
Coal India shares fall over 2 pct; dividend fails to cheer markets
Coal India Ltd falls as much as 2.5 pct; stock among top pct losers on the broader NSE index.
State-owned miner on Sunday announced second interim dividend of 1.15 rupees per share for current financial year.
"Dividend amount declared slightly less than market expectations although fundamentally, core business of company remains intact," says Rahul Modi of Antique Stock Broking Ltd.
Up to Friday's close, stock had declined about 0.72 pct this year.
Sify Editors @ 10:30 AM
GVK Power & Infrastructure is trading 4.5% up after the copany said that it has obtained all the necessary consents / approvals as may be required including from the lenders for the sale of 33% stake in Bangalore International Airport Limited to FIH Mauritius Investments Ltd and Fairfax India Holdings Corporation.
Sify Editors @ 10:15 AM
Sensex down 153 points after weak start; RIL declines on SEBI order
The Indian stock market is trading weak Monday morning, with investors treading cautiously and selling at some front line counters, amid weak global cues.
While concerns about the U.S. government's economic agenda weigh on sentiment, a stronger rupee and expectations of GST roll out from July limit market's downside.
The BSE benchmark Sensex is down 152.82 points or 0.52% at 29,268.58. The Nifty50 of the National Stock Exchange is down 47.50 points or 0.52% at 9060.50.
In the forex market, the rupee opened at 65.28 against the U.S. dollar, up 14 paise from its previous close of 65.14 a dollar.
Reliance Industries is down 1.3% at Rs 1270, with investors pressing some sales at the counter following the market regulator SEBI banning RIL and twelve other entities from dealing in derivatives futures & options market for alleged fradulent trades in shares of Reliance Petroleum Limited in 2007. Reliance Industries, in a filing to the stock exchange, has stated that it is proposing to file an appeal agains the market regulator's order.
Sify Editors @ 9:50 AM
The Sensex of the BSE, which opened at 29,395.68 points, was trading at 29,339.59 points (at 9.17 a.m.), lower 81.81 points or 0.28 per cent from the previous day's close at 29,421.40 points.
The Sensex touched a high of 29,420.70 points and a low of 29,335.78 points in the trade so far.
Sify Editors @ 9:30 AM
SEBI penalises Reliance Industries for trades in RPL; Stock down 1.4%
Reliance Industries declined to Rs 1265.35 in early trades following the market regulator SEBI barring th company and twelve other entities from dealing in equity derivatives in futures and options segment for a period of one year, directly or indirectly, for allegedly indulging in fradulent trades in Reliance Petroleum Limited shares in 2007.
The regulator also directed Reliance Industries to pay a fine of Rs 447.27 crore along with 12% interest from November 29, 2007 onwards till the date of payment, within 45 days from the date of the order.
Reliance Industries has stated that the trades in RPL shares which were examined by Sebi were genuine and bona fide transactions, RIL said, adding that these were carried out keeping the best interest of the company and its shareholders, in view.
Reliance Industries said that Sebi appears to have misconstrued the true nature of the transactions and imposed unjustifiable sanctions. It added that it is in the process of consulting its legal advisors and is looking at prefering an appeal and challenge the order in Securities Appellate Tribunal. RIL said that it has full confidence in the judicial process and it proposes to vigorously exercise all options available to it to challenge the untenable findings in the order.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 41332.00||Rs. 29775.40|
|Mumbai||Rs. 41332.00||Rs. 30352.94|
|Delhi||Rs. 41332.00||Rs. 29839.57|
|Kolkata||Rs. 41332.00||Rs. 30149.73|
|Kerala||Rs. 41332.00||Rs. 29358.29|