Markets: Sensex weakens -Nifty flat
Mumbai: The BSE Sensex was down 26.37 points (0.46 per cent) closing at 5686.73 points. On the National Stock Exchange, the S&P CNX Nifty, edged up marginally rising 0.01 per cent to 1795 points.

Market Gainers
Reliance Industries, ITC, Aftek Infosys, Aztec Software, Ramco Systems, Hexaware Technologies

Market Losers
Infosys Technologies, ICICI Bank, Wipro, Bajaj Auto, Hero Honda, HDFC, Indiabulls, Mastek, Hindustan Construction, Tasc Pharma, India Cements

Market Counters
SSI up 8.9 per cent at Rs53.05
Ranbaxy Labs down one per cent at Rs1,073.45
Tata Elxsi down 4.2 per cent at Rs159.6
Jain Irrigation Systems down 2.7 per cent at Rs98.45
Sona Koyo Steering Systems down 3.3 per cent at Rs52.7
Four Soft down 3.9 per cent at Rs37.75
SRF up 1.3 per cent at Rs53.2
Bajaj Auto down 2.38 per cent at Rs988.60
Hero Honda down 2.08 per cent at Rs417
Natural Capsules up 10.56 per cent at Rs33.50
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Wipro Q2 net profit rises 79 percent
Bangalore: Wipro Ltd. has posted its highest year-on-year growth in net profits in last 12 quarters. Net profits for the quarter-ending September 2004, grew 79 per cent to Rs412 crore, much above analysts' expectations, compared to the Rs230.2 crore earned in the corresponding quarter last year. Revenues for the quarter were up 44 per cent to Rs1,979 crore (Rs1,374 crore).

For the quarter-ending December 2004, Wipro expects revenues from global IT business to be approximately $347 million.

Revenues from global IT business grew 46 per cent at 1,502 crore during Q2, whereas the India and Asia Pacific IT services business grew 41 per cent to Rs300 crore. The consumer care and lighting business recorded revenue of Rs116 crore, up 32 per cent.

The company added a net of 5,546 employees to its rolls taking overall headcount to over 37,000.
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Tata Elxsi Q2 profit up 59.74 per cent
Bangalore: Tata Elxsi posted second quarter revenues of Rs43.97 crore, compared to Rs36.76 crore during the corresponding previous period.

The profit after tax grew 59.74 per cent to Rs6.13 crore, (Rs3.9 crore) Depreciation amounted to Rs1.19 crore, a company release said.
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Sify Q2 sales revenue up
Chennai: Sify Ltd has reduced its net loss for the September 30, 2004 quarter to $1.01 million from a net loss of $1.85 million for the same quarter last year. Sales revenue during the second quarter though was $18.75 million, an increase of 29.7 per cent over the same period last year, says a company press release.

During September 2004 quarter, Sify's corporate services contributed 55.5 per cent of revenues. The retail Internet access accounted for 39.5 per cent of revenues, the portal services accounted for 2.9 per cent and others (e-learning business) accounted for 2.1 per cent during the quarter, the release said.
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SAT sets aside SEBI order on Samir Arora
Mumbai: The former Chief Investment Officer of Alliance Mutual Fund, Samir Arora, has been absolved of all the charges slapped on him by the Securities and Exchange Board of India.

The Securities Appellate Tribunal (SAT) set aside SEBI's order, which had banned Arora from dealing in the securities market for five years (from August 2003), and cleared him of all three accusations.

SEBI had charged Mr Arora of professional misconduct, fraudulent and unfair trade practices and insider trading.

Counsel for SEBI asked for a six-week stay on the order, but this was turned down by the tribunal, as there was no provision for it. SEBI is expected to challenge the order in the Supreme Court.
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NTPC finalises IPO price at Rs. 62
New Delhi: National Thermal Power Corporation (NTPC) has finalised a price of Rs62 per share for its public offer.

The decision was taken after the meeting of the sub-committee of the NTPC's board set up to finalise the price of the issue, which involved an offer of 86.58 crore shares.
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