Sensex up marginally amid listless trades; HCL Tech spurts on results

Last Updated: Thu, Jan 17, 2013 04:09 hrs

It's a slightly listless start for the Indian stock market this morning with stocks seeing some wild swings in early trades. A flat close on Wall Street overnight and a mixed trend on the Asian bourses appear to be weighing on sentiment to an extent.

Information technology, realty and automobile stocks are among the notable gainers in early trades, while shares from metal, FMCG, banking and power sectors are a bit subdued. Oil, capital goods and healthcare stocks are trading mixed.

The BSE benchmark Sensex, which declined to 19,783.41 after advancing to 19,852.61, is currently up 25.54 points or 0.13% at 19,843.17. The Nifty index of the National Stock Exchange is up 9.50 points or 0.16% at 6011.35.

Tata Motors, up nearly 2%, is the top gainer in the Sensex. Maruti Suzuki, Bajaj Auto, Hero Motocorp and Mahindra & Mahindra are trading higher by 0.4% - 1%.

IT stocks Wipro (1.6%), Infosys (0.6%) and Tata Consultancy Services (0.2%) are up in positive territory. Meanwhile, HCL Technologies, which rose to Rs 709 on buoyant results, is trading at Rs 703, up 4.4% from its previous closing price.

HCL Technologies has announced that it has posted a 68.5% year-on-year surge in its net profit at Rs 965 crore for the quarter ended December 31, 2012, compared to Rs 573 in the same quarter of last fiscal. The revenue of the company in the quarter under review grew 19.6% to Rs 6,274 crore year-on-year.

The company has said that growth led by IMS has gone up by 10.9%, and there has been a volume grwoth of 3%. It also said that it won 12 multi-year multi-million dollar deals in the December quarter.

Dr Reddy's Laboratories, Hindustan Unilever, Reliance Industries and Sterlite Industries are up with modest gains.

BPCL, Ambuja Cements, Ranbaxy Laboratories, Asian Paints, Siemens and Bank of Baroda are also trading firm.

GAIL India, Hindalco, Ultratech Cement, ONGC, ACC, Bharti Airtel, Grasim Industries, HDFC Bank, Jindal Steel & Power, Power Grid Corporation, ITC and Kotak Bank are down 0.4% - 1.2%.

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