labels: stock markets - india, markets - general
Indices maintain uptrend; metals, pharma, engineering stocks shinenews
21 February 2006

Continuing the rally from yesterday afternoon, markets opened firm and the both frontline indices remained firm throughout the day. Asian markets were generally firm today helping the sentiment. There was considerable short covering ahead of Thursday's F&O settlement, which supported the rally.

After gaining steadily throughout the day, both indices dropped sharply in the last hour of trade. But the decline lasted only a few minutes and the indices went back to their early highs.

The Sensex saw a new lifetime intra-day high of 10195 in late afternoon trades. The Nifty could not cross its lifetime high of 3052.

Bajaj Auto was the star of the day, continuing its strong rally from recent weeks. The stock surged in early afternoon trades and finally closed with gains of nearly 6.5 per cent.

Metal stocks, both ferrous and non-ferrous, had a good day today as they made a come back. SAIL was the biggest gainer in this sector, closing nearly 5 per cent higher. Tata Steel added close to 2 per cent.

Among the aluminium stocks, Nalco gained more than 3 per cent while Hindalco closed around 1.5 per cent higher.

Engineering stocks L&T and BHEL also made a strong come back. L&T added nearly 4 per cent while BHEL gained close to 2.5 per cent.

Another sector which gained ground today was pharma. Dr Reddy's continued it's uptrend after a pause and closed the day with gains of more than 4.5 per cent. Ranbaxy added over 2.5 per cent while Sun Pharma gained close to 2.5 per cent.

Among the technology stocks, Satyam added close to 2 per cent.
Jet Airways came under selling pressure in afternoon trades and finally closed with losses of over 1.5 per cent.

Tata Tea resumed its down rend and closed nearly 1.5 per cent lower. HLL gave up more than 0.5 per cent.

Sensex closed at 10168, a gain of 89 points, and the Nifty closed higher by 29 points at 3035. Nifty February futures closed at a premium of 9 points to the spot index.

US markets were closed yesterday on account of a public holiday.

Most Asian markets, except Japan, had another subdued day today. Japanese Nikkei saw one of the best daily gains in recent months and closed nearly 3 per cent today. Other main markets like South Korea and Hong Kong closed on a flat note.

Crude prices are rallying today as well, continuing the recovery from the fall of previous week. March futures are trading with gains of nearly 2 per cent at above $62 per barrel in early European trades today. NYMEX was closed yesterday.

has acquired eMango, a software company based in the US, for $20 million with additional payments based on future financial performance in an all cash deal. The acquired company has a development centre in India and has revenues of around $13 million.

HCL Technologies has entered into an agreement with Savaje Technologies, a leading developer of software applications for mobile handsets. Under the partnership, HCL would be the development partner of Savaje for a Java based operating system.

SBI has decided to follow "market leaders" ICICI Bank and HDFC and has raised interest rates on home loans by between 25 basis points and 75 basis points. The rate on fixed rate loans with tenure of more than five years has been increased from 9 per cent per annum to 9.5 per cent per annum. In the case of floating rate loans, the increase is from 8.5 per cent to 8.75 per cent for up to 10 years and 9 per cent for more than 10 years.

Mid-Cap Action
Mid-caps also recovered today though the gains on the mid-cap index were lower than the frontline indices. The action was more stock specific as fancied sectors like tea and sugar remained subdued. The CNX Mid-Cap index gained 29 points to end the day at 4340.

Noida Toll Bridge would raise up to $45 million, with an additional 10 per cent from the green shoe option, from a GDR issue. The company is currently in the process of raising Rs175 crore from a bond issue.

Chemplast Sanmar will invest up to Rs300 crore to upgrade its caustic soda manufacturing facilities and setting up a coal-based power plant. The company is also planning to set up a PVC plant in Tamil Nadu. Funding plans for these projects have not been finalised.

, a leader in industrial abrasives, has acquired a Canadian manufacturer of coated abrasives and other abrasive products for C$2.25 million dollars. The acquired company has revenues of around 6 million Canadian dollars and is the third-largest player in its segment in the North American market.

Ram Informatics, along with another company, has entered into an agreement with the government of Maharashtra to provide e-governance services to the public. The agreement for a period of 10 years covers services like payment of utility bills and taxes, applications for certificates etc.

Hester Pharma has applied to the government for permission to import anti-bird flu vaccines for poultry. The company is planning to import the vaccine from a French company.

Titan Industries has launched a premium range of wrist watches. The new range, to be marketed under a new brand, has been designed by a Swiss designer and would be manufactured in Switzerland.

PBA Infrastructure has won three new contracts worth a total of Rs65 crore. The orders are for construction of a till plaza and construction of roads.

Petron Engineering has received an order for erection and commissioning of power plant piping from BHEL. The order is worth Rs5.6 crore.

Subhash Projects has won a rural electrification contract worth Rs82 crore in Bihar.

Kamat Hotels has won an order from ONGC and MRPL for offering various hospitality and retail services at the retail fuel stations being set up by MRPL and ONGC. Financial details have not been disclosed.

I-Flex has announced that an American retail financing company has implemented its software suite for loan servicing and collection management. Financial details have not been disclosed.

Aurionpro Solutions has entered into an agreement with Sungard, a leading developer of software for the financial services sector. Under the agreement, Aurionpro would sell Sungard's software solutions to help banks comply with Basel II norms.

Allsec Technologies has entered into a strategic alliance with Sales Force to offer quality management solutions to call centres.

SPIC, FACT and SKM Egg Products were among the significant mid-cap gainers on the NSE.

Paper Products, Rane Holdings and South East Asia Marine were among the significant mid-cap losers on the NSE.

*Disclaimer:The author may have positions in some of the stocks specifically mentioned above at the time of writing this article. This analysis / report is only for the purpose of information and is not an investment advice. Readers are advised to consult a certified financial advisor before taking any investment decisions. While efforts have been made to ensure the accuracy of the information provided in the content the author or publisher shall not be held responsible for any loss caused to any person whatsoever.

Market: Indices
National Markets
Gain (+) / Loss (-)

SENSEX
10,168.11 + 88.81
NIFTY 3,035.50 + 29.65
Last Update : 21 February, 2006 16:00:16 PM

Market Counters
Figures in Rupees

BSE 30
Scrip Name Open High Low Last Price
ACC 594.95 599.90 587.00 589.70
Bajaj Auto 2,420.00 2,595.00 2,380.00 2,571.90
Bharti Tele 367.60 370.00 363.00 367.15
BHEL 1,840.00 1,878.80 1,835.00 1,870.85
Cipla      
Dr Reddys Lab 1,320.00 1,408.00 1,315.80 1,389.45
Grasim Indus 1,672.00 1,690.00 1,650.00 1,655.10
Guj Ambuja 86.90 87.10 85.85 86.90
HDFC Ltd 1,338.00 1,345.00 1,322.00 1,329.90
HDFC Bank Ltd 730.00 730.00 722.00 724.95
Hero Honda 890.00 905.75 889.90 897.85
Hindalco 157.40 158.50 154.15 154.70
HLL 239.50 240.50 234.55 237.10
ICICI Bank 599.00 599.00 590.00 592.95
Infosys 2,835.00 2,842.70 2,806.00 2,818.60
ITC 163.75 165.75 163.10 164.20
L&T 2,270.00 2,354.80 2,258.00 2,335.80
Maruti
NTPC
ONGC 1,140.10 1,170.00 1,140.10 1,161.45
Ranbaxy 441.00 460.70 440.60 449.20
Rel Energy 602.00 607.50 598.10 600.85
Reliance 701.00 706.80 694.35 697.85
Satyam 758.00 772.55 754.15 769.90
SBI 868.00 873.80 865.00 867.75
Tata Motors 786.00 799.40 785.50 792.10
Tata Power 495.00 498.40 491.00 496.25
Tata Steel 397.00 407.00 396.10 403.05
TCS 1,658.00 1,665.00 1,648.00 1,660.65
Wipro
Last Update : 21 February, 2006 16:02 PM

S&P CNX Nifty
Symbol Open High Low Last Price
RELIANCE 702.05 706.00 694.30 697.75
SATYAMCOMP 757.00 772.00 754.20 769.95
LT 2264.45 2355.00 2255.00 2335.70
MARUTI 789.00 800.00 781.20 788.40
BAJAJAUTO 2420.00 2593.50 2405.00 2568.45
TATASTEEL 397.00 407.00 396.80 402.95
INFOSYSTCH 2830.00 2843.70 2804.00 2817.60
ONGC 1150.00 1170.00 1140.00 1161.45
TATAMOTORS 785.95 800.00 785.10 793.70
RANBAXY 440.00 461.50 440.00 449.80
HINDLEVER 238.50 243.40 234.15 237.00
SBIN 867.00 874.00 865.10 868.45
M&M 591.00 601.80 590.50 592.65
ITC 163.25 165.85 163.00 164.25
DRREDDY 1326.45 1400.00 1325.00 1386.80
CIPLA 550.00 550.90 541.50 543.40
BHEL 1888.70 1888.70 1825.00 1870.70
WIPRO 519.70 524.90 511.05 512.85
TATATEA 944.95 967.00 922.20 926.80
TCS 1655.00 1671.00 1651.10 1666.00
SAIL 58.00 61.10 57.55 60.65
GRASIM 1680.00 1689.50 1646.10 1655.85
VSNL 376.00 382.90 373.15 379.50
HINDALC0 156.45 158.65 154.55 154.85
TATAPOWER 494.00 499.00 490.35 496.40
GUJAMBCEM 87.00 87.20 86.00 86.80
ACC 594.00 601.00 590.60 592.85
ICICIBANK 594.90 599.10 590.00 593.35
HDFCBANK 730.00 730.00 722.50 724.80
MTNL 143.50 146.40 143.15 144.45
HDFC 1325.00 1345.00 1321.00 1332.15
GLAXO 1324.00 1348.80 1307.65 1335.90
HEROHONDA 888.10 905.30 888.10 897.00
PNB 433.85 435.00 427.00 430.45
HCLTECH 602.00 610.85 601.50 608.75
BPCL 439.80 445.00 433.00 440.20
BHARTI 366.80 370.00 363.30 368.65
ABB 2402.00 2444.00 2390.00 2412.05
SUNPHARMA 782.00 783.50 765.00 779.95
NATIONALUM 267.95 275.00 267.50 273.50
JETAIRWAYS 982.10 1008.00 978.05 982.55
IPCL 243.90 243.90 240.50 241.80
DABUR 109.25 112.50 108.30 109.25
REL 604.90 607.50 598.00 600.90
TATACHEM 246.10 247.85 245.00 245.65
GAIL 279.30 280.50 276.10 278.20
HINDPETRO 323.90 325.90 318.20 324.15
ZEETELE 169.10 170.45 167.60 168.90
ORIENTBANK 233.10 235.90 232.10 233.55
SCI 153.00 153.60 151.80 152.20
Last Update : 21 February, 2006 16:00PM


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Indices maintain uptrend; metals, pharma, engineering stocks shine