indian stock market

Shares of three steel makers rose between 0.95% to 5.67% on reports the Indian government has suspended export subsidy under the duty entitlement pass book scheme on some steel products temporarily to control inflation and boost domestic supplies. Tata Steel (up 5.67% to Rs 691.90), Steel Authority of India (up 0.95% to Rs 199.95) and JSW Steel (up 1.27% to Rs 820.50), advanced Tata Steel saw volumes of 7.98 lakh shares, Steel Authority of India clocked volumes of 13.14 lakh shares and 46224 shares changed hands on JSW Steel counter on BSE. Reports added that following the proposal, steel prices may decline to Rs 38,000 per tonne from the present Rs 40,000 per tonne. Earlier this week, some steel producers in India had agreed to halt steel exports with immediate effect after government sought help from steel manufacturers to keep the prices in check with inflation rising to almost 6%. Rising demand and spiralling costs have seen steel majors increase prices significa...

Reliance Petroleum jumped 5.28% to Rs 162.60 at 14:51 IST on BSE as the stock saw a strong 82% rollover of derivatives positions from March 2008 series to April 2008 when the March 2008 derivatives contracts expired on Thursday, 27 March 2008. Meanwhile, the BSE Sensex was up 225.99 points, or 1.41%, to 16,241.55, on positive cues from Asian markets. On BSE, 82.25 lakh shares of the scrip were traded. The stock had an average daily volume of 1.21 crore shares on BSE in past one quarter. The scrip had touched a high of Rs 163.60 and a low of Rs 154.45 so far during the day. The stock had hit a 52-week high of Rs 295 on 1 November 2007 and a 52-week low of Rs 68.50 on 3 April 2007. The scrip had outperformed the market over the past one month till 27 March 2008, declining 6.65% compared to the Sensex's fall of 10.16%. It underperformed the market in the past one quarter, sliding 30.57% compared to Sensex's decline of 20.74%. The Mukesh Ambani-controlled refini...

Parsvnath Developers Ltd.   Q3 FY08 Result Update   Key Data     CMP Rs 201   Date March 27 th 2008   Sector Real Estate   Face Value Rs.10      BSE Code 532780   52 Week H/L Rs 598/ 170   Market Cap Rs 3718 Cr   Investment Rationale   Extensive Land Reserves at low cost Parsvnath Developers Ltd. (PDL) conducts its activities in 49 cities across 17 states in India The company has 210 mn. sq. ft. of land reserves, of which around 200 mn. sq. ft. (approximately 95 percent) are fully paid and have clear titles . For the balance 10 mn. sq. ft. around Rs700cr - Rs800cr of balance payment is to be made to various government authorities. The company's average land cost is around Rs195 per sq. ft. The company is being conservative in acquiring additional land. It is focusing on its strategy of execution and sale of existing land reserves. It pref...