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Sensex up 50 points; M&M up 3% on results

Source : SIFY
Last Updated: Thu, Oct 25, 2012 09:48 hrs
BSE Sensex seen opening lower, GDP data eyed

With investors turning a bit cautious and taking some profits, the market pared some gains in late afternoon trades but recovered swifty to go modestly up once again.

Realty stocks continue to trade weak. FMCG, healthcare and metal stocks are also displaying some weakness. Automobile, capital goods, oil and bank stocks are finding modest support.

Information technology and PSU stocks are mostly trading flat. Midcap and smallcap stocks are quite subdued today. The market breadth is negative with declines outscoring advances by 4 to 3.



The Sensex is now up 50 points or 0.26% at 18,760.02. The Nifty is up 14 points or 0.25% at 5705.40.

Mahindra & Mahindra is up more than 3% at Rs 854. The company has posted a net profit after tax of Rs 9018.00 million for the quarter ended September 30, 2012 whereas the same was at Rs 7373.80 million for the quarter ended September 30, 2011. Total income rose to Rs. 101358.50 million for the quarter ended September 30, 2012, from Rs. 76048.00 million it had posted for the quarter ended September 30, 2011.

The results for the quarter and half year ended September, 2012 are not comparable with those of the quarter and half year ended September, 2011 as the figures in respect of quarter and half year ended September, 2011 do not include the results of the automotive business of Mahindra Automobile Distributor Private Limited which got merged with the company earier this financial year.

Lupin is trading firm with a gain of 2.4% thanks to impressive results. IDFC has notched up a gain of 2.35% and HDFC is trading 2% up. Hero Motocorp, Axis Bank, GAIL India, Ultratech Cement, Grasim Industries and Kotak Bank are also trading notably higher.

Punjab National Bank is down with a loss of over 2%. Dr Reddy's Laboratories, Bank of Baroda, State Bank of India, Hindustan Unilever, Jindal Steel, Tata Steel, Tata Motors, Cipla and DLF are also trading notably lower.

Oriental Bank of Commerce posted a rise of 80.15% in net profit of Rs 3.02 billion for the quarter ended Sept. 30, 2012 as compared to Rs 1.67 billion for the quarter ended Sept. 30, 2011. The stock is up nearly 7% at Rs 314 now.

IPCA Laboratories reported a net profit of Rs 1,250.9 million for the quarter ended Sept 30, 2012 as compared to Rs 779.6 million in the same period last year. The stock is trading flat at Rs 462 at present.
​With investors turning a bit cautious and taking some profits, the market pared some gains in late afternoon trades but recovered swifty to go modestly up once again. Realty stocks continue to trade weak. FMCG, healthcare and metal stocks are also displaying some weakness. Automobile, capital goods, oil and bank stocks are finding modest support. Information technology and PSU stocks are mostly trading flat. Midcap and smallcap stocks are quite subdued today. The market breadth is negative with declines outscoring advances by 4 to 3. The Sensex is now up 50 points or 0.26% at 18,760.02. The Nifty is up 14 points or 0.25% at 5705.40. Mahindra & Mahindra is up more than 3% at Rs 854. The company has posted a net profit after tax of Rs 9018.00 million for the quarter ended September 30, 2012 whereas the same was at Rs 7373.80 million for the quarter ended September 30, 2011. Total income rose to Rs. 101358.50 million for the quarter ended September 30, 2012, from Rs. 76048.00 million it had posted for the quarter ended September 30, 2011. The results for the quarter and half year ended September, 2012 are not comparable with those of the quarter and half year ended September, 2011 as the figures in respect of quarter and half year ended September, 2011 do not include the results of the automotive business of Mahindra Automobile Distributor Private Limited which got merged with the company earier this financial year. Lupin is trading firm with a gain of 2.4% thanks to impressive results. IDFC has notched up a gain of 2.35% and HDFC is trading 2% up. Hero Motocorp, Axis Bank, GAIL India, Ultratech Cement, Grasim Industries and Kotak Bank are also trading notably higher. Punjab National Bank is down with a loss of over 2%. Dr Reddy's Laboratories, Bank of Baroda, State Bank of India, Hindustan Unilever, Jindal Steel, Tata Steel, Tata Motors, Cipla and DLF are also trading notably lower. Oriental Bank of Commerce posted a rise of 80.15% in net profit of Rs 3.02 billion for the quarter ended Sept. 30, 2012 as compared to Rs 1.67 billion for the quarter ended Sept. 30, 2011. The stock is up nearly 7% at Rs 314 now. IPCA Laboratories reported a net profit of Rs 1,250.9 million for the quarter ended Sept 30, 2012 as compared to Rs 779.6 million in the same period last year. The stock is trading flat at Rs 462 at present.

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