WebSify
Follow us on
Mail
Print

Sensex down 15 points; Reliance Infra loses over 2%

Source : SIFY
Last Updated: Tue, Nov 06, 2012 08:32 hrs
Sensex gains 472 pts; posts biggest rise in 3 months

Despite some sustained buying in a few blue chip stocks, the market moves in a very tight band this afternoon with investors mostly treading cautiously amid lingering concerns about the near term outlook for the global economy.

The Sensex, which rose to around 18,810 a little past noon, is now down 15.25 points or 0.08% at 18,747.62. The Nifty is down 4 points or 0.08% at 5700.10.



Quarterly results are providing some direction to the market. Cipla, trading firm on the back of an impressive earnings report, is up as much as 3.3% thanks to sustained buying at the counter.

Asian Paints is up 2.3% and Power Grid Corporation, which had come out with buoyant results last week, is up with a gain of a little over 2%. Ambuja Cements, HDFC, Ranbaxy Laboratories and ACC are up 1% - 1.6%.

State Bank of India, Wipro, DLF, Lupin, GAIL India, Grasim Industries, HDFC Bank, ONGC, BHEL, NTPC, Jaiprakash Associates and Infosys are also trading in positive territory.

Reliance Infrastructure is down 2.2%. The company has announced today that it has posted profit after tax of Rs. 4141.30 million for the quarter ended September 30, 2012 as compared to Rs. 4957.40 million for the quarter ended September 30, 2011. Total Income has decreased from Rs. 40906.30 million for the quarter ended September 30, 2011 to Rs. 38458.90 million for the quarter ended September 30, 2012.

Hindalco and IDFC are down 2.4% and 2%, respectively. Coal India, Larsen & Toubro, Sesa Goa, Reliance Industries, HIndustan Unilever and Tata Steel are also trading weak.

Maruti Suzuki is down by 1.9% amid reports of another protest by employees at its Manesar unit. Tata Motors, Hero Motocorp, Bajaj Auto and Mahindra & Mahindra are also trading notably lower.

Bosch Ltd has posted a net profit of Rs. 2028.40 million for the quarter ended September 30, 2012 as compared to Rs. 2881.00 million for the quarter ended September 30, 2011. Total Income has increased from Rs. 20766.10 million for the quarter ended September 30, 2011 to Rs. 21552.60 million for the quarter ended September 30, 2012. The stock is up marginally at Rs 2808 now.

Canara Bank has announced that it has posted a net profit of Rs 6609.70 million for the quarter ended September 30, 2012 as compared to Rs. 8522.20 million for the quarter ended September 30, 2011. Total Income has increased from Rs. 84372.70 million for the quarter ended September 30, 2011 to Rs. 92036.10 million for the quarter ended September 30, 2012. The stock is trading modestly lower at present.

Dena Bank is trading sharply higher following a 24% surge in net profit for the quarter ended September 2012.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance