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Sunday, 15 April 2012

Maruti-Suzuki to invest Rs 2,000 cr in Gurgaon facility

Indore: Car major Maruti Suzuki Saturday said it plans to invest Rs 2,000 crore in diesel engine manufacturing facility at its Gurgaon plant to meet the demand for Swift and Desire models.

The company would manufacture 1.5 lakh diesel engines for Swift and Desire in the current year to meet the growing demand, Shashank Srivastava, chief general manager (marketing), told reporters here after launching the new model Ertiga in Madhya Pradesh here.

To a question whether the hike in excise duty by 2 percent had any impact on car sales, CGM said it was across the board for every sector. The car production in last FY was 26.2 lakhs, against 25.2 lakhs in FY 2010-11, he pointed out.

In the last three months of 2011-12, 50 percent of the cars sold were diesel engine ones, which was much higher than the expected, he said.

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Sensex down nearly 400 points on weak Infosys guidance

Mumbai: Cutting short two weeks of modest gains, both the key indices, Sensex and Nifty, tumbled by over 2 percent due to a host of negative factors.

The market resumed on a weak note on investor concerns over slow growth in US jobs and global economic recovery.

Besides, investors have been cautious ahead of the fourth quarter corporate earnings, industrial growth data and the apex bank's annual monetary policy next week.

First and the last days of the week saw a heavy sell-off due to which the BSE 30-share Sensex tanked by 391.51 points, or 2.24 percent, to settle at about two-week low of 17094.51.

The NSE wide-based 50-issue Nifty plunged by 115.45 points, or 2.17 percent, to 5,207.45.

On the last day of the week, disappointing growth outlook by IT bellwether Infosys for current fiscal and prevailing economic environment pulled the Sensex down. During the week, Infosys plunged by 15.69 per cent, contributing in the Sensex fall in a major way.

In dollar terms, the Bangalore-based company was unable to meet even the lower end of its revenue guidance of USD 1,806 million-1,810 million for Q4 FY'12, as revenues stood at USD 1,771 million.

Top software exporter TCS and the third largest software exporter Wipro also dropped in line with Infosys by 9.23 points and 4.91 points. The BSE-IT and BSE-Teck were the top losers from the sectoral indices, falling 11.50 percent and 9.56 percent, respectively.

The second day, the market saw a moderate fall on weak global markets and a massive earthquake in Sumatra that triggered tsunami fears in the Asian region, including India.

"A massive earthquake in Indonesia and tsunami warning led to a bout of profit booking from which markets again recovered (from the day's lowest level) in closing moments," said Sharmila Joshi, Head Equity, Fairwealth Securities.

Besides FMCG, which attracted good buying support on reports of good monsoon, auto scrips were also in demand after car sales rose 19.66 per cent to 2,29,866 units in March 2012, from 1,92,105 units in the same month last year. Two-wheeler sales also increased 8.27 percent.

Meanwhile, brokers said drastic downward revision of industrial growth figures for January has disappointed investors.

The Ministry of Statistics and Programme Implementation (MOSPI) yesterday revised the Index of Industrial Production (IIP) for January from 6.8 percent to 1.14 percent because of wrong calculation of sugar production during the month.

Terming sharp revision in the industrial production data as "totally baffling", Finance Minister Pranab Mukherjee on Saturday said he has asked the authorities concerned to look into the issue, which mainly affected the market sentiment.

In all, 17 scrips from the Sensex pack ended with losses while other finished with gains. Hindalco dropped by 6.334 percent, BHEL dropped by 5.59 percent, Jindal Steel by 5.34 percent, Tata Steel by 5.25 percent, L&T by 4.71 percent, ONGC by 4.5 percent, Sterlite Ind by 3.70 percent, DLF by 3.11 percent, Gail India by 2.96 percent, ICICI Bank by 2.90 percent, Cipla by 2.92 percent and Bharti Airtel by 2.28 percent.

However, ITC rose by 3.98 percent, HUL by 6.14 percent, SBI by 2.18 percent, Sun Pharma by 3.94 percent, Tata Power by 1.98 percent, Hero MotoCorp by 2.26 percent, and Tata Motors by 3.94 percent.

Among the other sectoral indices, BSE-CG plunged by 4.43 percent, BSE-Metal by 3.88 percent, BSE-Power by 2.85 percent, BSE-CD by 2.54 percent and BSE-PSU 2.33 percent while BSE-FMCG rose by 3.60 percent, BSE-HC by 1.89 percent and BSE-Auto by 0.91 percent.

The total turnover at BSE and NSE was at Rs 11,729.67 crore and Rs 53,223.68 respectively.

PTI

Wednesday, 4 April 2012

Sensex Latest Results

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My Stockwatch

RELIANCE 752.70 [ +1.64% ]TCS 1178.00 [ -1.36% ]ICICIBANK 908.20 [ +1.99% ]

Sensex17597.42
119.27 0.68%

Nifty5358.50
40.60 0.76%

Midcap6475.50
60.69 0.95%

Smallcap6817.69
76.66 1.14%

52 Week High/Low	Bulk Deals	Gross Deliverables	Buyers/Sellers	Corporate Action	Bhavcopy	Global Markets
Advances-Declines	Block Deals	Exchange Rates	Indices Watch	Announcements	Turnover	Mutual Funds

BSE

NSE

Most active

SBIN	2172.55	1.98%
RELIANCE	752.70	1.64%
ICICIBANK	908.20	1.99%
JPASSOCIAT	88.60	4.54%
LT	1362.10	2.23%

View all NSE most active shares

BSE

NSE

Top gainers

CAIRN	356.65	4.59%
JPASSOCIAT	88.60	4.54%
HINDALCO	131.90	3.61%
STER	112.85	3.11%
SESAGOA	198.50	3.04%

View all Nifty top gainers

BSE

NSE

Top losers

DRREDDY	1693.05	-2.60%
HEROMOTOCO	2008.60	-2.41%
MARUTI	1309.55	-2.17%
TCS	1178.00	-1.36%
RPOWER	121.00	-1.06%

View all Nifty top losers

Tuesday, 3 April 2012

BSE may consider IPO by end of April

After clearing the decks for listing of bourses by the capital market, regulator SEBI yesterday said that BSE Limited may be the first to list on the exchanges soon, reports CNBC-Awaaz.

The board members of BSE Limited may consider the IPO in the last week of April.

The extra ordinary meeting may be called upon for taking approval from shareholders. BSE had been formed into a company in 2007 and now has 6,000 shareholders.

The company may be valued at around Rs 3,000-4,000 crore. Three directors currently on the BSE board may have to resign.

SEBI made it mandatory for them to have 51% public holding, but banned brokers from the board. It also capped individual holding at 5% and fixed the minimum networth of the bourses at Rs 100 crore. Restrictions have also been placed on salaries of key management.

SEBI said an exchange cannot be listed on itself, which means if the BSE were to go public, it has to do so on the NSE or another exchange and vice versa.

"The stock exchanges will have diversified ownership and no single investor will be allowed to hold more than 5% except the stock exchange, depositories, insurance company, banks or public financial institutions which may hold up to 15%," SEBI said after the board meeting.

"The Board of the stock exchanges/clearing corporations will not have any trading member/clearing member representative. However, an advisory committee shall be constituted by the board, comprising trading members/ clearing members to take benefit of experience of such members," added the market regulator.

(With inputs from PTI)

Tuesday, 20 March 2012

Sensex ends 193 points down on profit booking

Mumbai: The BSE Sensex fell over 1 per cent on the first day of week as it looked worried over rates cut in April post Budget considering high oil prices. Political uncertainties also added to the woes, after Prime Minister Manmohan Singh accepted Dinesh Trivedi's resignation as Railway Minister.

Both traders and investors squared off their positions that built up before the Budget as they believe it was realistic and retrospective but not reformist.

The 30-share BSE benchmark fell 192.83 points or 1.10 per cent, to close at 17,273.37, weighed down by 24 stocks. Meanwhile, the 50-share NSE Nifty went down 60.85 points or 1.14 per cent to 5,257.05, dragged down by capital goods, banks, technology, oil & gas and capital goods stocks.

Sensex ends 193 points down on profit booking

The Sensex shed more than 400 points in two days. According to Vibhav Kapoor of IL&FS, a lot of people who bought in anticipation of the Budget are selling out right now and that is leading to this correction over the last two days.

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