indian stock market

Shares of three state-run oil marketing companies advanced between 4.35% and 5.59% at 11:10 IST on BSE on reports the Union government is planning a comprehensive package for oil firms to deal with the impact of soaring global crude oil prices. Bharat Petroleum Corporation (up 5.59% to Rs 365.50), Hindustan Petroleum Corporation (up 4.95% to Rs 245.95), and Indian Oil Corporation (up 4.35% to Rs 424), advanced. Meanwhile the BSE Sensex was up 56.08 points or 0.33% at 16,963.26 Bharat Petroleum Corporation clocked volumes of 1.89 lakh shares, Hindustan Petroleum Corporation notched volumes of 3.32 lakh shares whereas 2.35 lakh shares changed hands on Indian Oil Corporation counter on BSE The likely measures include a mix of some duty cuts, additional issue of bonds to the companies as well as a moderate increase in the prices of petrol and diesel. The soaring global crude prices has dealt a big blow on the profitability of the domestic oil marketing companies (OMCs), ...

For 2007-08, it is still too much stock with few takers While international prices are weak, domestic market has improved recently, making exports so much less viable Mumbai, May 21 The global sugar market has been rather dormant for sometime now, with the underlying weakness preventing hectic activity. For 2007-08, the market is clearly in surplus; there is simply too much sugar and few takers. Large carryover in two of the world's largest producers – Brazil and India – as also weak demand from even traditionally large importers such as Russia has merely added to the woes of the market. But there are indications that the large surplus may soon give way to a more finely balanced market in 2008-09. This surely will have implication on the world sugar prices. Once again, the situation in Brazil and India needs to be watched carefully. Cane output In Asia, both India and China are most likely to harvest smaller crops. On the other hand, the si...

Ranklin Solutions surged 4.18% to Rs 155.65 at 10:38 IST on BSE after the company said its board has approved acquisition of 51% stake in in Logic Bytes for Rs 0.91 crore. The company made this announcement after trading hours on Tuesday, 20 May 2008. concerns about slowing consumer spending in the world's top economy, hitting US shares on Tuesday, 20 May 2008. On BSE, 16,261 shares were traded in the counter. The scrip had an average daily volume of 89,975 shares in the past one quarter. The stock hit a high of Rs 159.45 and a low of Rs 148.95 so far during the day. The stock had a 52-week high of Rs 260 on 9 April 2008 and the stock hit a 52-week low of Rs 50 on 9 April 2008. The small-cap scrip had outperformed the market over the past one month till 20 May 2008, gaining 78.28% compared to the Sensex's return of 2.93%. The company's current equity is Rs 5.04 crore. Face value per share is Rs 10. The current price of Rs 155.65 discounts its Q3 December...

Reliance Power galloped 4.65% to Rs 436.65 at 15:21 IST on BSE, extending recent rally, ahead of the record date for bonus issue. The stock has gained 12.68% from Rs 387.50 on 25 April 2008 - the day when the company set 2 June 2008 as the record date for bonus issue . On BSE, 33.01 lakh shares were traded in the counter. The scrip had an average daily volume of 40.17 lakh shares in the past one quarter. The stock hit a high of Rs 437.20 and a low of Rs 415.15 so far during the day. The stock had a 52-week high of Rs 599.90 on 11 February 2008 and a 52-week low of Rs 303.45 on 24 March 2008. The scrip had outperformed the market over the past one month till 16 May 2008, gaining 8.79% compared to the Sensex's 5.79% gain. It had also outperformed the market in the past one quarter, rising 8.46% compared to Sensex's 3.76% fall. The company's current equity is Rs 2,259.82 crore. Face value per share is Rs 10. The current price of Rs 436.65 discounts its ful...

Shipping Corporation of India rose 2.75% to Rs 290 at 14:14 IST on BSE, after its board recommended issue one bonus share for every two shares held. On BSE, 10.65 lakh shares were traded in the counter. The scrip had an average daily volume of 91,518 shares in the past one quarter. The stock hit a high of Rs 300.90 and a low of Rs 283 so far during the day. The stock had a 52-week high of Rs 332 on 3 January 2008 and a 52-week low of Rs 154 on 22 January 2008. The scrip had outperformed the market over the past one month till 16 May 2008, gaining 28% compared to the Sensex's 5.79% gain. It had also outperformed the market in the past one quarter, rising 30.94% compared to Sensex's 3.76% fall. The mid-cap state-run shipping firm has an equity capital of Rs 282.30 crore. Face value per share is Rs 10. The current price of Rs 290 discounts its Q4 March 2008 annualised EPS of Rs 25.05, by a PE multiple of 11.57. The net profit of Shipping Corporation of India f...

Jayanta Mallick Rupee, crude oil and monsoon clouds would be closely watched Paul Noronha Good times are back?: A stock dealer delighted with the upward move of the of the BSE Sensex last week- Photo: Dalal Street last week saw indices move up keeping the overall market breadth positive. Overseas institutional investors turned net buyers and operators have become a little more active in the derivatives segment than in the cash segment. That's good going in the short-term perspective. But scepticism has not come down in any significant way and the consolidation period is not over yet. Absence of additional negative news on top of inflationary pressure, high crude price and unusual currency movements may have encouraged operators to bat on the front foot, but strategies still seem to be short-term. The valuations, in relation to market's own records and its peers in the emerging markets, are still cheap, according to some long-term play...

MUMBAI: Bartronics India Ltd has informed the BSE that the company, a leading provider of solutions based on ATDC technologies in India has emerged as the lowest bidder in the Bhamashah Financial Empowerment Scheme of Rajasthan Government. The bids for w hich were opened on May 16. Under the scheme, the government intends covering about 50 lakh families through biometrically identifiable smart cards, and provides them financial relief. The project valued at about Rs 150 crore is one in a series of financial inclusion initiatives announced by the Finance Minister during his recent budget speech. Similar initiatives are underway in West Bengal, Bihar and some other states across the country.

MARKET KHABAR   By C. Kutumba Rao Industry growth rate still a concern Ignoring inflation and simmering crude oil prices, markets arou-nd the world notched up good gains in the week ended indicating that risk appetite of global investors has gone up. Recovering most of the recent losses the Sensex on the BSE gained 698 points to close at 17,435 and on the NSE the Nifty logged 175 points to end at 5,158. Global rating agency Moody's positive report on Indian economy's fundamentals and capability of facing short-term glo-bal challenges and indication of good monsoon turn-ed the sentiment positive. Market breadth was positive on all trading days but gains in midcap and smallcap stocks were moderate in comparison to the frontliners. Renewed buying was seen from FIIs and domestic institutional inve-stors. Weak IIP numbers are a cause for concern and sho...

The markets have been volatile. One day they are up, and the next day they fall. The consistent uptrend in the Sensex seen a few months ago has not been there in the recent weeks. This has eroded huge amounts of investor wealth. Also, it has taken a toll on the confidence of the small investors. Many of the recent IPOs are again trading at below offer prices. All said and done, there are some sectors, which look good from an investment perspective. The recent reduction in excise duty on several sectors/products will boost consumption. The sectors which look good include infrastructure, education , metals, healthcare, hotels, auto and pharma. Long-term investment decisions need not be a knee-jerk reaction to the market movements. The investment approach should be proactive rather than reactive. Investors can wait for markets to stabilise before investing . Pharma This will be a sector to look out for. It is already a beaten down sector and there is no reason for further...

The company's technology-focussed approach is likely to earn higher margins. Hiving off non-core businesses and focus on T&D has improved profitability. Vidya Bala Areva T&D is well-equipped to demonstrate its competitiveness in the transmission and distribution market in the country. Steady market leadership in key high-end products, ability to introduce new products/technology, focus on T&D business by hiving off non-core businesses and merger of group companies with T&D related businesses have provided a strong base to capitalise on the T&D investments in the country. Capacity expansion plans, outsourced projects from the foreign parent and strong order-book position lend visibility to the company's earnings. At the current market price, the stock trades at 19 times its expected earnings for CY-09. Investment with a three-year perspective will allow capacity expansions to fully translate into revenues. A longer time-frame may...

Steel Authority of India jumped 7.48% to Rs 186.15 at 15:13 IST on BSE on reporting 24.97% rise in net profit to Rs 2376.76 crore on 30.42% increase in total income to Rs 13855.25 crore in Q4 March 2008 over Q4 March 2007. The company announced the results during trading hours today, 16 May 2008. On BSE, 78.78 lakh shares were traded in the counter. The scrip had an average daily volume of 33.29 lakh shares in the past one quarter. The stock hit a high of Rs 186.60 and a low of Rs 172.50 so far during the day. The stock had a 52-week high of Rs 292.50 on 13 December 2007 and the stock hit a 52-week low of Rs 123.75 on 8 June 2007. The large-cap scrip had outperformed the market over the past one month till 15 May 2008, gaining 6.98% compared to the Sensex's return of 6.83%. It had underperformed the market in the past one quarter, declining 21.58% compared to Sensex's decline of 4.20%. The company's current equity is Rs 4130.40 crore. Face value per share ...

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More fund houses plan schemes targeting the sectors   Mumbai, May 16 Both retail and institutional investors' interest in companies associated with essential commodities such as food and water is on the rise. Many agriculture commodities are becoming scarce resources worldwide and they are preferred by new fund themes and managers. Canara Robeco Mutual Fund is planning to launch its water fund in India. The European asset management firm Robeco, which has picked up 49 per cent stake in Canara Bank's asset management arm, is gearing up to launch new products in the second half of 2008, after a revamp of the old asset management company. Growth stage The Sustainable Asset Management (SAM), the Swiss subsidiary of Robeco, has expertise in managing water funds and is expected to provide the guidance for water fund offerings, which are already being sold in other parts of the world such as Australia, China and Japan. "We are ver...