Thanks to sustained buying in several blue chip stocks, the market, which opened on a firm note this morning, remains fairly well placed in positive territory now. Oil stocks, led by Reliance Industries, continue to remain in focus. Capital goods and FMCG stocks too are mostly trading higher.
Select metal stocks are up with strong gains. Consumer durables, healthcare and bank stocks are trading mixed. Automobile and information technology stocks are slightly weak.
Reliance Industries is trading firm with a sharp gain of 3.6%, with strong results and a surge in refining margins in the October - December 2012 quarter aiding sentiment at the counter.
BHEL has gained nearly 2.5%. Reliance Infrastructure is up by a little over 2%. Cairn India, Jindal Steel & Power, Bharti Airtel, Maruti Suzuki, Larsen & Toubro, BPCL, Lupin, Dr Reddy's Laboratories, Jaiprakash Associates, GAIL India and Hindustan Unilever are up 1% - 1.8%.
Ultratech Cement is down 2% at Rs 1872, following a drop in earnings for the quarter ended 31 December 2012. ACC and Ambuja Cements are trading lower by 1.7% at Rs 1321.60 and Rs 195.50, respectively.
DLF is down with a loss of 1.7% and Cipla is trading lower by about 1.5%. Power Grid Corporation, Tata Motors, Tata Consultancy Services, Sun Pharmaceutical Industries and Mahindra & Mahindra are down 1% - 1.6%.
Exide Industries, which declined sharply last week after reporting a fall in earnings, has gained more than 1.5% this morning on bargain hunting. Aditya Birla Nuvo, REC, Tech Mahindra, SAIL, Container Corporation, Divi's Laboratories and LIC Housing Finance are also up with notable gains.
TV 18 is trading sharply higher following an announcement from the company that it posted a net profit of Rs 21.3 crore in the quarter ended December 31, 2012, as compared to a net loss of Rs 53.5 crore in the year ago quarter, due to higher revenues and fall in operating expenditure.
Oberoi Realty is up more than 2% following the company reporting a 32% year-on-year growth in consolidated net profit to Rs 134 crore for the quarter ended December 31, 2012 on back of higher sales. Total income increased by 42% to Rs 308 crore from Rs 217 crore during the same period, the company said in a filing to the stock exchanges.