Sensex remains in positive zone; NTPC, Asian Paints post smart gains

Last Updated: Tue, Jan 22, 2013 06:26 hrs

Amid alternate bouts of buying and selling in blue chip stocks, the market, which opened on a cautious and slightly listless note this morning, remains in positive territory with modest gains now.

The Sensex, which rose to 20,156.86, is currently up 31 points or 0.15% at 20,132.82, while the Nifty index of the National Stock Exchange is up 12.50 points or 0.21% at 6094.80, off the day's high of 6101.30.

Asian Paints is trading stronger by around 3.5% following the company's consolidated net profit for the December 2012 quarter rising more than 30% to Rs 335.20 crore.

NTPC is up nearly 2% at Rs 164.80 following an announcement from the company that its board of directors have approved equity investment of up to Rs 2269.75 crore in a 50:50 joint venture company with Bihar State Electricity Board.

On Monday, NTPC announced that its net profit rose 21.9% to Rs 2596.76 crore on 2.9% growth in net sales to Rs 15774.91 crore in the October - December 2012 quarter, over the corresponding quarter last fiscal.

ACC is trading nearly 2% up. Sun Pharmaceutical Industries, Axis Bank, Punjab National Bank, Bank of Baroda, ICICI Bank, Wipro, Jaiprakash Associates, Bajaj Auto, Reliance Industries and Jindal Steel & Power are up 0.8% - 1.8% now.

Cairn India, Maruti Suzuki, Ultratech Cement, Cipla, Tata Steel, Mahindra & Mahindra, Grasim Industries and Coal India are up with modest gains.

GAIL India is trading lower by over 3%. BPCL, HCL Technologies, DLF, Tata Power, Tata Motors, Hero Motocorp, Lupin, Dr Reddy's Laboratories, ONGC, BHEL and ITC are down 0.5% - 2%.

Pantaloon Retail (India) Limited shares vaulted more than 10% following the Reserve Bank of India easing restrictions on purchase of shares in the company by FIIs, NRIs and persons of Indian origin. On Monday, the central bank notified about the withdrawal of restrictions as aggregate shareholdings of these entities in Pantaloon Retail under the portfolio management scheme fell below the prescribed threshold limit.

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