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Sensex holds in positive territory amid lackluster trades

Source : SIFY
Last Updated: Mon, Apr 08, 2013 05:27 hrs
People walk pass BSE building in Mumbai

The market continues to remain sluggish with investors not showing any keen interest in picking up stocks. Instead, they are seen pressing sales at even small rallies.

The Sensex is up 18.40 points or 0.1% at 18,468.63. The Nifty index of the National Stock Exchange is up 2.75 points or 0.05% at 5556.



Reliance Infrastructure is up nearly 3.5% at Rs 343. Bharti Airtel is trading stronger by 2.7%. Ambuja Cements, Cipla, Tata Motors, Ultratech Cement, Bajaj Auto, Power Grid Corporation, Jaiprakash Associates and HDFC are also trading notably higher.

Ranbaxy Laboratories, Jindal Steel & Power, ITC, Tata Consultancy Services, HCL Technologies, Maruti Suzuki, Cairn India, Asian Paints and Bank of Baroda are trading lower by 1% - 2%. Sesa Goa, Kotak Bank, Larsen & Toubro, Infosys and BHEL are also trading weak.

Reliance Capital and Reliance Communications are trading stronger by 2.5% and 4.8%, respectively. Both these stocks have moved higher on impressive volumes. While the Reliance Capital counter has clocked a volume of around 1.27 million shares on the National Stock Exchange, the Reliance Communications counter has recorded a volume of over 7 million shares this morning.

TVS Motor Co shares moved up by over 6% this morning, following the company confirming that its is in talks with German Auto-maker, BMW for a technology tie up. In a filing to the stock exchanges, the company said it is in talks with BMW's Motorcycle Division, BMW Motorrad for a technology tie up and that the it will keep the exchanges informed once finality is reached in this regard.

Idea Cellular is trading sharply lower on reports the Income Tax department has slapped a Rs 3,900-crore notice on company and its subsidiary, Aditya Birla Telecom, over transfer of assets and licences between the two companies in 2009.

However, the company said it believed the demands were “unjustified and based on erroneous interpretation of current tax laws”.

TVS Motor Co shares moved up by over 6% this morning, following the company confirming that its is in talks with German Auto-maker, BMW for a technology tie up. In a filing to the stock exchanges, the company said it is in talks with BMW's Motorcycle Division, BMW Motorrad for a technology tie up and that the it will keep the exchanges informed once finality is reached in this regard.


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