Business Today

Sensex up 142 points

Sensex was trading at 20,281.60, higher by 115.74 points, or 0.57 per cent.

ITGD Bureau   Mumbai     Last Updated: October 25, 2010  | 15:57 IST

Monday, October 25, 2010

3.30 pm:
Sensex ended Monday's session in the positive, but off highs at provisional 20,280.54, gaining 114.68 points or 0.57 per cent. The BSE 30-share index saw a high of 20,452.30 versus a low of 20,199.73 intraday. Index gainers were Hindalco (4.34 per cent), ACC (4.25 per cent), Tata Motors (2.74 per cent), Sterlite (2.73 per cent), M&M (2.45 per cent), TCS (2.44 per cent), Cipla (2.41 per cent) and HDFC (2.12 per cent), among others. Losers comprised Wipro (4.10 per cent), ITC (1.26 per cent), Infosys (1.12 per cent), HDFC Bank (0.42 per cent), BHEL (0.35 per cent), JP Associates (0.28 per cent) and Tata Power (0.23 per cent).

3.20 pm:
Elecon Engineering Company, through its special purpose vehicle, has agreed to acquire the Benzler-Radicon group of business from David Brown Gear Systems Group. On NSE, Elecon shares were down 1.46 per cent at Rs 94.50.

2.52 pm:
Parsvnath Developers has partnered with Red Fort Capital and executed Concession Agreement with Delhi Metro Rail Corporation for development of 'Red Fort Parsvnath Towers', a prime Grade A office project in New Delhi's Connaught Place. On NSE, Parsvnath shares were weak to flat at Rs 67.75.

2.41 pm:
Rural Electrification Corporation has posted standalone net profit of Rs 618.21 crore for the quarter ended September 30, against Rs 494.36 crore for the quarter ended September 2009. Net sales were Rs 1,987.67 crore, against Rs 1,532.44 crore for the corresponding quarter of 2009. On NSE, the company's shares were down 2.28 per cent at Rs 374.55, after rising to Rs 386.

2.15 pm:
Hindustan Unilever has reported standalone net profit of Rs 566.12 crore for the quarter ended September 30, against Rs 428.53 crore for the corresponding period of 2009. Net sales for the quarter were Rs 4,680.87 crore, compared with Rs 4,228.11 crore for the same quarter of last year. The board has declared an interim dividend of Rs 3 per share of face value of Re 1 each for the financial year ending March 31, 2011. Further, the dividend will be paid on or after November 15. On NSE, the FMCG major's shares were up 1.34 per cent at Rs 305.30.

2.02 pm:
Mahindra & Mahindra Financial Services has enhanced the rated amount of short-term debt programme from Rs 12.50 billion to Rs 20 billion. The rating on the company's Short-term Debt Programme and Bank facility has been reaffirmed at 'P1+' by CRISIL. On NSE, the company's shares shot up 7.32 per cent to Rs 702.50.

1.44 pm:
Petronet LNG has posted standalone net profit of Rs 131.12 crore for the quarter ended September 30, against Rs 120.67 crore for the corresponding quarter of 2009. Net sales were Rs 3056.74 crore, against Rs 3406.09 crore for the same quarter of the previous year. On NSE, the company's shares were down 3.27 per cent at Rs 122.90.

1.15 pm:
Rolta India has reported standalone net profit of Rs 96.62 crore for the quarter ended September 30, on net sales of Rs 329.48 crore. On NSE, the company's shares were higher by 2.03 per cent at Rs 168.15.

1.05 pm:
Lakshmi Machine Works has posted standalone net profit of Rs 45.85 crore for the quarter ended September 30, against Rs 32.27 crore for the corresponding quarter of 2009. Net sales stood at Rs 429.25 crore compared with Rs 268.57 crore for the same quarter last year. On NSE, the company's shares were lower by 0.22 per cent a Rs 2,810.

12.46 pm:
Mundra Port and Special Economic Zone has reported standalone net profit of Rs 211.66 crore for the quarter ended September 30, almost flat to Rs 211.30 crore for the quarter ended June 30. Net sales for the quarter ended September was Rs 407.55 crore compared with Rs 405.87 crore for the quarter to June. On NSE, the company's shares were down 2.10 per cent at Rs 167.60.

12.15 pm:
Meghmani Organics Ltd's subsidiary, Meghmani Chemtech, has acquired Plot No Z 31 and Z 32 admeasuring 90,000 sq meters situated at Dahej SEZ, Bharuch. The site is exactly opposite the company's Caustic Chlorine Complex of Meghmani Finechem. On NSE, Meghmani Organics shares were up 1.71 per cent at Rs 20.80.

11.46 am:
Nucleus Software Exports has announced second quarter results for financial year 2010-2011. Nucleus' consolidated revenue for the quarter ending September 30, is at Rs 70.19 crore, in comparison to Rs 70.75 crore in the corresponding quarter of the previous year. On NSE, the company's shares were up 0.44 per cent at Rs 136.40.

11.09 am:
Allcargo Global Logistics, in furtherance to the expansion plan of its non-vessel owning common carrier (NVOCC) business, has acquired business rights and controlling stake in Hong Kong-based companies engaged in NVOCC business in China and other parts of eastern regions. The acquisition, through its step-down wholly owned subsidiary, would further strengthen Allcargo's profitability stream (EBIDTA) by adding approximately $3.53 million on a yearly basis. On NSE, the company's shares were up 0.29 per cent at Rs 155.80.

10.24 am:
NTPC executed an MOU with the government of Madhya Pradesh and MP Power Trading Company on October 22, for setting up 3,960 megawatt (6X660 MW) coal-based thermal power project near village Barethi in Madhya Pradesh for the benefit of Bundelkhand region. On NSE, the company's shares were up 1.54 per cent at Rs 207.15.

10.04 am:
Torrent Pharmaceuticals today reported its second quarter financial results for the period ended September 2010. Sales for the period stood at Rs 562 crore, up 21 per cent from Rs 465 crore for the same quarter last year. Net profit for the quarter was Rs 76 crore, compared with Rs 74 crore for the corresponding period last year. On NSE, the company's shares were down 1.59 per cent at Rs 558.05.

9.45 am: OnMobile Global has reported standalone net profit of Rs 24.89 crore for the quarter ended September 30, up from Rs 11.53 crore for the quarter ended September 2009. Net sales were Rs 114.97 crore, compared with Rs 83.40 crore for the corresponding quarter of 2009. On NSE, the company's shares were higher by 1.90 per cent at Rs 375.40.

9.20 am: Sensex was trading at 20,281.60, higher by 115.74 points, or 0.57 per cent. The BSE sensitive index opened at 20,199.73 versus the previous close of 20,165.86. The 30-share index moved between 20,307.76 and 20,199.73 in the early minutes.

9.18 am: Nifty was up 32.35 points, or 0.53 per cent, at 6,098.40. The NSE benchmark opened at 6,101.25, against Friday's close of 6,066.05. The 50-share index touched a high of 6,108.15 versus a low of 6,096.40.

9.15 am: Indian markets opened higher Monday, despite mixed cues from Asia. All the sector indices were in the positive, with metals in the lead. Realty took second place, followed by oil & gas.

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