indian stock market

IGNORING GOOD news such as positive global cues, liberal bonus issue from Reliance Industries and better-than-expected results from Infosys, markets tumbled from highs on heavy selling pressure during the week ended. On the Bombay Stock Exchange (BSE), the Sensex plunged 492 points to close at 16,643 and the Nifty on the National Stock Exchange (NSE) fell by 138 points to 4,945. Market breadth was negative during the most part of the week reflecting caution among market participants ahead of the "festival week." Telecom and IT scrips proved to be the biggest drag on the indices. FMCG and metal stocks were in demand on sustained buying interest. With several companies sucking liquidity by issuing QIP, IPO, GDR and other instruments, money flow to the secondary market is getting limited. Simultaneously capital inflows have led to strengthening of rupee hitting hard the export-oriented companies. A result of one company does not change the overall outlook; keep track of broader ...

Reliance Infrastructure rose 3.03% to Rs 1237.65 at 10:52 IST on reports a consortium of the company and Hyundai Engineering is likely to win a contract worth Rs 1500 crore to connect Mumbai's Bandra-Worli sea link with Haji Ali. Meanwhile, the BSE Sensex was up 65.46 points, or 0.46%, to 14330.99. On BSE, 2.45 lakh shares were traded in the counter. The scrip had an average daily volume of 20.64 lakh shares in the past one quarter. The stock hit a high of Rs 1259 and a low of Rs 1217.90 so far during the day. The stock had hit a 52-week high of Rs 1373.70 on 1 June 2009 and a 52-week low of Rs 354 on 27 October 2008. The stock had outperformed the market over the past one month till 18 June 2009, rising 19.96% as compared to the Sensex's 0.13% decline. It had also outperformed the market in the past one quarter, soaring 150.05% as against the Sensex rise of 58.92%. The large-cap private sector utility and infrastructure developer has an equity capital of Rs...

Can you please confirm if what explained in this article still is true? Bonus shares offer big tax benefits Nikhil Lohade & Nimesh Shah in Mumbai | April 15, 2004 10:10 IST With big technology and pharma companies announcing bonus share issues, it's time to reveal a secret: Bonus shares can be effectively used a tax saving tool. How is this done? Simply, the loss incurred after selling a stock once it turns ex-bonus can be used to set off against short-term capital gains. Bimal Doshi, Mumbai-based chartered accountant and management consultant, explains how shares of the company which announces bonus shares can be effectively used as a tool of tax planning. As per the Income Tax Act, the cost of acquisition of bonus shares is taken at NIL, while cost of original shares remains at the cost at which there were purchased i.e. cum-bonus price. How effectively tax can be saved is explained by the following example. Suppose short-term capital gain realised by an individual is Rs ...

  By Vikas Agarwal, ET Bureau The domestic stock markets have been through a spectacular rally over the last three months. The markets recorded a sharp rise in some of the most beatendown sectors during the last year. After the formation of stable government at the centre, the first budget of the newly-elected government is to be announced in first week of July. Investors have high expectations from the first budget of this government and hence there is some very bullish undertones in the markets. Here are some significant factors that investors should look for in a sector before choosing stocks from it:   Auto Stocks in the auto sector have been in an uptrend during the last few months and therefore, the valuations in the auto sector stocks are no longer cheap at the current levels. Those invested in auto stocks can book some profits and hold the remaining with a tight stop-lo...

Our Bureau Kolkata, June 9 PSU stocks witnessed targeted buying as market expected fresh Government initiative for divestments. Of the 45 listed PSU stocks, those with negligible or very small public holding evoked increased interest from the market. "If the Government plans to sell its stake up to 51per cent in the listed PSUs, the total sale proceeds could be over $95 billion, based on the current market prices of listed PSUs. This works out to about 9.48 per cent of the current GDP," according to Mr Jagannadham Thunuguntla, equity head of SMC Capitals. Mr Saurabh Mukherjee, head of the Indian equity at Noble, said investors have appetite for PSUs, most of which have strong fundamentals and high growth prospects. "But there could be resistance by unions, particularly bank unions, against Government holdings going below 51 per cent. Limited resistance, however, is likely if divestments are restricted to 51 per cent." There are several P...

Financial Technologies India gained 1.83% to Rs 1475 on 14:20 IST on BSE, after the company said that the MCX Stock Exchange plans to divest 18% of its equity to Indian banks. The company made this announcement after trading hours on Thursday, 4 June 2009. Meanwhile, the BSE Sensex was up 141.61 points, or 0.94%, 15,150.29. On BSE, 37,804 shares were traded in the counter. The stock had an average daily volume of 2.38 lakh shares in the past one quarter. The stock hit a high of Rs 1525.10 and a low of Rs 1461 so far during the day. The stock hit a 52-week high of Rs 1900.05 on 9 June 2008 and a 52-week low of Rs 404 on 23 January 2009. The mid-cap stock had outperformed the market over the past one month till 4 June 2009, surging 82.87% as compared to the Sensex's return of 25.57%. It had also outperformed also the market in the past one quarter, galloping 237.75% as compared to the Sensex's return of 80.27%. The company's current equity is Rs 9.18 cro...

NEW DELHI: With a host of public sector firms waiting to enter the capital market, investors have something to cheer about as PSUs , which had come out with their initial public offers in the last five years, have given better returns than their private sector peers, a study says. The returns provided by PSUs, which came out with IPOs in the last five years 2004-09, have more than doubled, while their private sector peers gave returns of 3.45 per cent in the same period, according to data compiled by SMC Capitals. The findings indicate that there exist divergence between the returns of PSU IPOs and private sector peers, with a positive edge to PSU IPOs. "People have burnt their fingers with the private sector IPOs in the past. Now they would want to reap returns and the investor community will invest in the big-ticket upcoming IPOs," SMC Capitals Equity Head Jagannadham Thunuguntla said. Pricing of IPOs and strong balance sheet m...