Money on the markets

A maturing market amid the mayhem

Maytas Infra gains in falling market

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The BSE Sensex ended 1.6 percent down on Monday but shares in Maytas Infra ended nearly 5 percent higher at 112.80 rupees after the company’s board received a proposal to replace the existing founder of the firm.

The CLB has instructed Maytas’ board to induct ILFS as new promoters and allow them to assume management control through appointment of four directors, including the chairman.

IL&FS, which owns 14.5 percent stake in Maytas, intends to buy additional stake of 22.51 percent with an investment of 1.5 billion rupees.mail1

Results:

Late on Saturday, Maytas posted a net loss of 4.9 billion rupees ($101 million) for the financial year 2008/09. The company’s turnover too saw a dip, falling almost 18 percent from 16.37 billion rupees a year ago to 13.35 billion in 2008/09.

Realty shines

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INDIA-ECONOMY/

The BSE real estate index jumped 3.8 percent on Friday and emerged as the best sectoral performer of the day as shares of top realty firms rose.

Unitech gained 5.7 percent to end at 99.1 rupees and was the most traded counter on the BSE with volumes of over 31 million shares.

Tata Steel shares slip after results

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STEEL-ECONOMYShares in Tata Steel slipped over 5 percent on Thursday after the firm posted disappointing June quarter numbers.

The company which is the world’s No.8 steelmaker by output, posted a consolidated June quarter net loss of 22.39 billion rupees, compared with 39.15 billion rupees profit a year earlier.

Aban Offshore shares surge

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Graph showing 5-day price movement of Aban Offshore.Investors in offshore and oilfield services provider, Aban Offshore, have a reason to party tonight – its shares jumped 27 percent to close at 1536 rupees, making it the top gainer on the Bombay stock exchange on Wednesday.

The company said on Tuesday that it expects revenue of $695 million (around 3,400 crore rupees) from two contracts it signed for deploying four rigs. The trading volumes in this counter were high and stood at 3.8 million shares, its highest single day volume since mid-May.

Good day for IT stocks, Aptech shines

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INDIATechnology stocks traded firm on Tuesday in an otherwise weak market, with the BSE IT index rising nearly 2 percent as the rupee weakened.

Thirteen of the 15-stock BSE IT index closed in the green, with Aptech leading the pack with a 16.5 percent jump.

Fortis Healthcare shares rise

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MARKETS GLOBAL/STOCKSShares in Fortis Healthcare posted smart gains on the BSE on news that Fortis planned to spend over 9 billion rupees to acquire 10 hospitals from Wockhardt.

The acquisition is expected to be completed by December end and will enhance the aggregate bed capacity of the Fortis Network to over 5,000, Fortis said in a statement.

Will you buy Bharti Airtel shares?

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Children play near a Bharti Airtel billboard outside a railway station in Chandigarh May 26, 2009Shares in Bharti Airtel gained 2.8 percent on Friday, contributing well to the benchmark’s gain of over 200 points on the last trading day of the week.

The company is in exclusive talks for a stake in South Africa’s MTN, a deal which will create the world’s No. 3 mobile firm. On Thursday, the two firms said they were extending talks till Sept. 30, their second such extension this year.

Investors and the IPO craze

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The UPA government’s deferred divestment programme seems to have had a smooth take-off. State utility NHPC’s IPO was subscribed 23.5 times at close.

INDIA ENERGYThis is to be followed by an offering from another state heavyweight, Oil India Ltd, on September 7. But what do these high decibel IPOs mean for the stock market and small investors in particular?

Small caps shine

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MARKETS-SOUTHASIA-STOCKS/The BSE Small-cap index gained over 4 percent in Thursday’s market rally with stocks such as Firstsource Solutions and SpiceJet gaining over 12 and 10 percent respectively.

From the 463 stocks in the small cap index, around 30 posted double-digit gains, data from Thomson Reuters showed.

Healthcare index stays firm

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AIDS INDIA BLOODTESTThe BSE healthcare index traded firm and gained 1.3 percent on Wednesday in a market that ended marginally lower.

Ranbaxy Labs was up 4.5 percent while other stocks like IPCA Labs, Sun Pharma and Cipla posted decent gains.

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