indian stock market

Tech Mahindra surged 4.02% to Rs 971 at 11:21 IST on BSE on reports the company has bagged a $700-million contract from BT Group to improve its IT infrastructure. On BSE, 1.09 lakh shares were traded in the counter. The scrip had an average daily volume of 85,582 shares in the past one quarter. The stock hit a high of Rs 990 and a low of Rs 961 so far during the day. The stock had a 52-week high of Rs 1584.30 on 28 May 2008 and the stock hit a 52-week low of Rs 614.80 on 17 March 2008. The mid-cap scrip had underperformed the market over the past one month till 15 May 2008, gaining 2.34% compared to the Sensex's return of 6.83%. It had outperformed the market in the past one quarter, rising 38.37% compared to Sensex's decline of 4.20%. The company's current equity is Rs 121.44 crore. Face value per share is Rs 10. The current price of Rs 971 discounts its Q3 December 2007 annualised EPS of Rs 64.77, by a PE multiple of 14.99. BT is Tech Mahindra's la...

Kirloskar Brothers surged 5.75% to Rs 254 at 11:25 IST on BSE after the company said its joint venture firm has received an order worth Rs 933.76 crore from the Andhra Pradesh state government's Irrigation & CAD Department for building a pump house. The company made this announcement after trading hours on Wednesday, 14 May 2008. Meanwhile, the BSE Sensex was up 266.76 points, or 1.57%, to 17,245.11, following a rise in US stocks on Wednesday, 14 May 2008, after data showed US consumer prices rose a smaller-than-expected 0.2% in April 2008. The data helped ease fears of an inflationary spurt triggered by soaring oil prices and suggested that the Federal Reserve might have more latitude to keep interest rates at 2%. On BSE, 918 shares were traded in the counter. The scrip had an average daily volume of 30,413 shares in the past one quarter. The stock hit a high of Rs 256.80 and a low of Rs 250 so far during the day. The stock had a 52-week high of Rs 527 on 3 October 2007 and th...

Shipping Corporation of India rose 6.77% to Rs 260.05 at 10:50 IST on BSE after the company said its board will consider a proposal for recommending the issue of bonus shares to Ministry of Shipping, Road Transport & Highways, Govternment of India. On BSE, 1.81 lakh shares were traded in the counter. The scrip had an average daily volume of 82,216 shares in the past one quarter. The stock hit a high of Rs 264 and a low of Rs 249.15 so far during the day. The stock had a 52-week high of Rs 332 on 3 January 2008 and the stock hit a 52-week low of Rs 154 on 22 January 2008. The mid-cap stock had outperformed the market over the past one month till 13 May 2008, rising 15.07% compared to the Sensex's return of 5.98%. It had also outperformed the market in the past one quarter, rising 23.69% compared to Sensex's fall of 1.16%. The company's current equity is Rs 282.30 crore. Face value per share is Rs 10. The current market price of Rs 260.05 discounts its ...

Mumbai, May 13 Investors no longer have to wait for weeks for refund of their IPO application money. The application money earmarked for an IPO will now remain in the applicant's bank account till the allotment is finalised, thus eliminating the refund process, SEBI said on Tuesday, addressing a long-standing grouse among investors, particularly in the retail segment. "The modalities in this regard would be worked out separately," said a news release from SEBI, issued after its Board met on Tuesday. "The Board approved, in principle, the concept of making lien on bank account as an alternative mode of payment in public/rights issues." This means that the money marked for the IPO will not be used for any other payment obligation during that period. At the same time, the applicant will enjoy the interest payable on the amount. This would also reduce the burden on registrars and merchant bankers. But bankers to the issue can no longer enjoy the floa...

Reliance Communication rose 0.92% to Rs 555 at 12:25 IST on BSE after it formed a joint venture with Alcatel-Lucent to offer managed network services to telcom firms across the globe. Meanwhile, the BSE Sensex was up 172.64 points, or 1.02%, to 17,036.67 as a retreat in oil prices eased worries about inflation and after news of a takeover deal in the technology sector helped drive Wall Street higher on Monday, 12 May 2008. On BSE, 5.07 lakh shares were traded in the counter. The scrip had an average daily volume of 18.8 lakh shares in the past one quarter. The stock hit a high of Rs 559.60 and a low of Rs 552.55 so far during the day. The stock had a 52-week high of Rs 844 on 10 January 2008 and the stock hit a 52-week low of Rs 466.65 on 17 August 2007. India's second largest listed telecom services provider by sales had outperformed the market over the past one month till 12 May 2008, gaining 11.5% compared to the Sensex's return of 6.66%. It had however und...

Bharat Heavy Electricals Ltd (BHEL) has informed BSE that the Company has formally taken over Bharat Heavy Plate and Vessels (BHPV). The Authority Letter was handed over by Dr. Satyanarayana Dash, Secretary, Department of Heavy Industry to Mr. K Ravi Kumar, CMD, BHEL, in a ceremony held at Vizag on May 10, 2008, in the presence of Sh. Sontosh Mohan Dev, Hon'ble Union Minister for Heavy Industries & Public Enterprises; Sh. P Chidambaram, Hon'ble Union Minister for Finance; Sh. Y S Rajasekhara Reddy, Hon'ble Chief Minister of Andhra Pradesh and Sh. S Jaipal Reddy, Hon'ble Union Minister for Urban Development. A memorandum of Understanding for setting up the Nation's Biggest Integrated Coal Gasification Combined Cycle (IGCC) Power Plant at Vijayawada, was also signed between BHEL and APGenco.

Mphasis rose 9.45% to Rs 241.50 at 11:07 IST on BSE on reports Hewlett-Packard was in talks to buy outsourcing firm Electronic Data Systems, which owns a majority stake in the Indian software firm. On BSE, 3.62 lakh shares were traded in the counter. The scrip had an average daily volume of 60,398 shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 227 so far during the day. The stock had a 52-week high of Rs 335.90 on 2 July 2007 and the stock hit a 52-week low of Rs 150.25 on 24 March 2008. The mid-cap scrip had underperformed the market over the past one month till 12 May 2008, gaining 4.13% compared to the Sensex's return of 6.66%. It had also underperformed the market in the past one quarter, declining 10.23% compared to Sensex's return of 1.52%. The company's current equity is Rs 208.72 crore. Face value per share is Rs 10. The current price of Rs 241.50 discounts its Q4 March 2008 annualised EPS of Rs 10.9, by a PE multip...