Showing posts from October 18, 2009

SEBI allows stock exchanges to go 9-5

Our Bureau Mumbai, Oct. 23 The Securities and Exchange Board of India (SEBI) on Friday allowed stock exchanges to extend trading time by almost two-and-a-half hours, permitting them to operate between 9 a.m. and 5 p.m.An NSE official said the extended trading would commence "very soon" on that exchange, although he would not commit to a specific date. The BSE too "welcomed" the move. "It has been decided to permit the stock exchanges to set their trading hours subject to the condition that the trading hours are between 9 a.m. and 5 p.m. and the exchange has in place risk management system and infrastructure," a SEBI circular said. SEBI had earlier said that this was considered to allow Indian players to take advantage of the global information flows.Currently the cash and equity derivatives market is open from 9:55 a.m. to 3:30 p.m. The currency derivatives market is open from 9:00 a.m. to 5:00 p.m., while the commodity derivatives market is ope…

NTPC posts Rs 2,151.95 cr profit in Q2

MUMBAI: State-run power producer NTPC on Friday reported a marginal rise of 1.96 per cent in its net profit to Rs 2,151.95 crore for the second quarter ended September 30.

The company had a net profit of Rs 2,110.51 crore during the September quarter last financial year (2008-09).

Net sales of the company rose to Rs 10,782.79 crore in the latest quarter of the current financial year from Rs 9,661.42 crore of the corresponding period a year earlier, NTPC said in a filing to the Bombay Stock Exchange (BSE).

Shares of NTPC were trading at Rs 213.95, up 0.47 per cent in afternoon trade on the BSE.

Sensex may reach 19,000 level by March 2010: JP Morgan

MUMBAI: The Bombay Stock Exchange's benchmark index Sensex may reach 18,000-19,000 points level by end-March 2010 led by improved investor confidence, a survey by J P Morgan Asset Management company said.

"Both investors and advisors expect (the) Sensex to reach 18,000-19,000 in March 2010. Ninety-three per cent of advisors and 68 per cent of retail investors expect the Sensex to rise from current levels," J P Morgan said in a report 'Investor Confidence Index'.

The BSE index today closed over 17,223 points. J P Morgan said these expectations hinged on prospects of a global economic recovery coupled with a sustained confidence in the Indian economy across the board.

According to the survey, the Investor Confidence Index stood at 146.4 in September 2009, up by 10.5 points from July 2009, the survey said.

The report said about 50 per cent of corporate investors considered GDP growth and the possibility of India exceeding the 7 per cent target for FY 1…

Metal shares shines on rally in metal prices on LME

Eight metal shares rose by 0.32% to 2.78% at 11:01 IST on BSE after a gauge of six metals traded on the London Metal Exchange jumped 3.16% to 3,024.80 on Monday, 19 October 2009.

The BSE Metal index was up 1.42% to 16,007.52 and was the second best performer among the sectoral indices on the BSE. It outperformed the Sensex, which was up 0.27% to 17,372.46
The BSE Metal index outperformed the market over the past one month till 17 October 2009, rising 8.94% as compared to the Sensex's 3.68% rise. It had also outperformed the market in the past one quarter, surging 41.77% as compared to the Sensex's return of 17.50%.
Sterlite Industries (up 0.32%), Steel Authority of India (up 2.78%), JSW Steel (up 0.86%), Hindalco Industries (up 2.71%), Tata Steel (up 1.96%), Jindal Saw (up 1.77%), Hindustan Zinc (up 1.50%), Jindal Steel & Power (up 1.26%), gained.
Metal prices surged on the London Metal Exchange (LMEX) after the US dollar tumbled to 14-month lows against the euro, drawing inve…

Centre clears 5% stake sale in NTPC, follow-on offer by Dec

Proposed sell-off may fetch Rs 8,800 cr at current share price.
Our Bureaus New Delhi/Chennai, Oct. 19The Centre has cleared partial sale of its stakes in state-run power major NTPC Ltd and an unlisted hydro-electric firm Satluj Jal Vidyut Nigam Ltd (SJVNL) through the book-building route in the domestic market.The Cabinet Committee on Economic Affairs (CCEA) on Monday gave its nod to sell 5 per cent of the Centre's stake in NTPC and 10 per cent in SJVNL, the Commerce and Industry Minister, Mr Anand Sharma, told reporters after the meeting. GOVT HOLDING In the case of NTPC, which made an initial public offer in 2004, the Government will divest stake through a follow-on public offer, which is likely by December, a senior Power Ministry official said.Post the stake dilution, the Government's holding in NTPC would fall to 84.5 per cent from the current 89.5 per cent. "To make it inclusive and participatory, part of the shares would be offered to the employees o…

TTK Prestige: Buy

The demographic shift in favour of the young and a higher floating population in urban areas translate into higher demand for pressure cookers in India.

The company is roping in new customers through its retail chain, 'Prestige Smart Kitchen' . Rajalakshmi Sivam Demand for pressure cookers in growing consumer markets never runs out of steam. This augurs well for TTK Prestige, the company which owns the single largest pressure cooker brand in the country. Against the 8 per cent growth reported by the industry last year, TTK Prestige reported a 17 per cent growth in its sales volumes. With the company roping in new customers through its retail chain — 'Prestige Smart Kitchen' — its auxiliary products (kitchen electrical appliances, cookware) are also doing well in the market with a growth of over 25 per cent in the last five years. The stock trades at 14 times its trailing one-year earnings. Investors can add this small-cap stock to their portfolio. The indus…