indian stock market

Rajesh Exports jumped 5.48% to Rs 74.15 at 11:17 IST on BSE after the company clarified that it has not suffered any losses in any type of currency options, commodity trading or any other speculative business. Meanwhile, the BSE Sensex was down 171.61 points or 1.06% to 15,916.36 after a drop in US durable goods stroked concerns the US is already in a recession. On BSE, 5.08 lakh shares were traded in the counter. The scrip had an average daily volume of 3.71 lakh shares in the past one quarter. The stock hit a high of Rs 74.50 and a low of Rs 69.25 so far during the day. The stock had a 52-week high of Rs 170 on 12 December 2007 and a 52-week low of Rs 57.54 on 3 April 2007. The mid-cap scrip had underperformed the market over the past one month till 26 March 2008, declining 42.78% compared to the Sensex's fall of 9.66%. It also underperformed the market in the past one quarter, declining 52.59% compared to Sensex's decline of 20.43%. The company's curren...

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Six second-line software shares advanced between 3.51% to 22.87% primarily due to bargain hunting after recent correction MphasiS (up 6.55% to Rs 194.50), Hexaware Technologies (up 5.92% to Rs 60.85), Patni Computers (up 4.74% to Rs 218.70), KPIT Cummins Infosystems (up 22.87% to Rs 76.30), Mastek (up 18.38% to Rs 337.80), and Polaris Software Labs (up 3.51% to Rs 79.70), advanced. MphasiS saw volumes of 57376 shares, Hexaware Technologies notched volumes of 1.29 lakh shares, Patni Computers clocked volumes of 92319 shares, KPIT Cummins Infosystems saw volumes of 4.84 lakh shares, Mastek saw volumes of 59890 shares, and 3.70 lakh shares were traded on the Polaris Software Labs counter on BSE Shares of second line software companies were hammered in the recent market meltdown on concerns a recession in US may hamper their future revenues. From 52-week high of Rs 419 hit on 12 October 2007, Mastek corrected 31.80% to Rs 285.35 on 25 March 2008. Hexaware Technologies lost...

Shipping Corporation of India rose 4.30% to Rs 203.60 at 14:41 IST on BSE following reports that the Government plans to divest 5% stake in the company through follow-on public offer. Meanwhile the BSE Sensex was down 23.47 points or 0.14% to 16,195.12 On BSE, 64,075 shares were traded in the counter. The scrip had an average daily volume of 1.59 lakh shares in the past one quarter. The stock hit a high of Rs 210.20 and a low of Rs 200 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 mid-cap scrip underperformed the market over the past one month till 25 March 2008, declining 10.77% compared to the Sensex's fall of 8.12%. It had also underperformed the market in the past one quarter, declining 22.83% compared to Sensex's decline of 19.69%. The state-run shipping company's current equity is Rs 282.30 crore. Face value per share is Rs 10. The current price of Rs 203.60 discou...

Rally in line with the market trend Our Bureau Mumbai, March 25 After being hammered hard during the recent market slump, the BSE Realty index gained the most on Tuesday's market rally. It surged by a whopping 9.48 per cent touching an intra-day high of 7552.38, before closing the day at 7450. The rally was led by Anant Raj Industries, which advanced 19.60 per cent; DLF Ltd (13.47 per cent), Housing Development and Infrastructure Ltd (13.89 per cent), Unitech Ltd (10.21 per cent) and Parsvnath and Peninsula Land, which were both up more than six per cent. Analysts say that, since these stocks fell quite a bit in the past one month, investors seem to have done some "bottom picking" today. The realty index has dipped more than 23 per cent in the past month, with many of the stocks touching their 52-week lows, and some of the recently listed ones slipping below their issue price. "Most of the realty stocks witnessed strong correct...

Jet Airways cmp: Rs 548.65 target price: Rs 765 Citi has maintained a 'sell' rating on Jet Airways with a price target of Rs 765 after factoring in the competitive domestic aviation sector, the infancy of the company's international operations and the acquisition of Air Sahara. Citi feels while Jet arguably has superior growth opportunities to most of the global full service carriers, it has still to demonstrate its ability to deliver robust and consistent earnings over time and strong sustainable market share in the face of aggressive competition. However, the company's 'market position within the domestic market is fairly well entrenched, and its international operations are proceeding at a satisfactory pace', says the brokerage. It further feels that any 'faster than anticipated capacity rationalisation in the domestic airline industry' and 'a sustained decline in ATF prices' can provide upside risks to its recommendation and t...

MUMBAI: HSBC'S financial investment arm, HSBC Financial Services (Middle East), has hiked its stake in YES Bank to 4.88%. Prior to this, the HSBC arm held a 0.89% stake in the private sector bank. YES Bank's MD & CEO, Rana Kapoor, told ET: "This is through a secondary market transaction. HSBC Financial Services (Middle East) has been buying YES Bank shares since the third week of January 2008. Till last week, the total number of shares purchased stood at 14.48 million shares, while the stake rose to 4.88%." However, HSBC's official spokesperson said, "We cannot comment on this transaction. There are several entities in which HSBC has invested. It could be for proprietary purposes or even on behalf of a client." December 2007, Orient Global, a Singapore-based financial institution led by Richard Chandler, picked up a 4.99% stake in Yes Bank for Rs 331 crore. YES Bank plans to raise up to R...