With a few front line stocks retreating from their highs on profit taking, the market has shed some gains in early afternoon trade today.
Activity is mostly stock specific today with investors tracking corporate news for direction.
The Sensex, which rose to a new peak at 22,592.10 in early trade today, is currently up 64.41 points or 0.29% at 22,510.85. The Nifty is up 13.25 points or 0.2% at 6734.30, off a new lifetime high of 6763.50 touched this morning.
IDFC is trading higher by nearly 3.5%. Bharti Airtel, Tata Motors, Cipla, Lupin, Wipro, BPCL, ICICI Bank and NMDC are up 1.5% - 2.5%.
Reliance Industries is up 1.5% at Rs 957. Export Development Canada, a leading financier and insurer in Canada, has announced US$500 million in financing for Reliance Industries Limited, the largest financing package ever extended in Asia by the Canadian firm.
ITC, Asian Paints, Jindal Steel & Power, HDFC Bank, ACC, Hindalco, Sesa Sterlite, Ambuja Cements, Coal India and Axis Bank are down 1% - 2.3%.
JSW Steel is up marginally at Rs 1023.60. The company announced that steel consumption may rise in the current fiscal by around 5-6% in line with the projected GDP growth of the country.
Alstom India is up 1.6% at Rs 428 following an announcement from the company that it will sell its auxiliary components business to Triton, a leading European investment firm, for an enterprise value of around euro 730 million.
IL&FS Engineering and Construction Company is up 3.6% at Rs 43.50 after the company said it bagged a Rs 176 crore order to construct a luxury residential project in Gurgaon.
Ashoka Buildcon Limited has informed the Exchange that its Subsidiary viz. Ashoka Concessions Limited (ACL), has further received 4th tranche of investment of Rs. 133 Crores, which will be utilized for equity investment into various under construction projects. Ashoka Concessions Limited has received total investment of Rs. 623 Crores till date. The stock is up more than 4% at Rs 79.25.
Kolte Patil Developers Limited shares are up nearly 3% at Rs 101.60 following an announcement from the company that it has acquired a 30 acre land parcel at Kondhwa in Pune along with ASK Real Estate Special Opportunities Fund for Rs 160 crore. Kolte Patil will develop a residential housing project on the said land parcel.