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RIL falls, weak day for oil & gas stocks

Shares in Reliance Industries, which have the heaviest weight in the benchmark index, closed 1.7 percent lower on Tuesday. The BSE Oil & Gas Index closed 1.69 percent lower.

Indian markets struggled as as military tensions in Korea, a local corruption scandal and Ireland’s financials troubles spooked investors.

Other oil & gas counters like IOC slipped nearly 5 percent, while Aban Offshore slipped 4.1 percent.

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SKS Microfinance shares rise


Shares in microlender SKS Microfinance rose 5.75 percent to close at 714.45 rupees on Monday.

Shares took a beating on Thursday and fell 20 percent after the lender said the new regulations could squeeze profit and revenue. However, SKS on Friday said its balance sheet was healthy.

Realty stocks end lower


It was not a great day for markets and real estate stocks especially, as the sectoral index slipped 3.84 percent.

Indiabulls Real Estate ended down 5.86 percent, followed by DB Realty which slipped 4.6 percent.

Metal stocks post decent gains


The BSE Metals index gained 1.9 percent on Thursday, with stocks like Hindalco and JSW Steel posting top gains.

Hindalco shares closed 4.8 percent higher at 222.35 rupees, JSW Steel gained 3.5 percent. Jindal Steel and Power ended down 1.8 percent as the top sectoral loser.

Reliance Cap drops after results


People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai January 24, 2008.REUTERS/Punit Paranjpe/Files

Shares in Reliance Capital fell on the first day of trade after the company declared on Saturday consolidated net profit had declined 28 pct to 1.12 billion rupees.

The stock had hit a 52-week high of Rs 929.25 on January 19, 2010 and a 52-week low of Rs 611.30 on 21 May 2010.

Realty stocks fall


It was a tough day for those who invest in real estate stocks as the BSE Realty index fell 4.76 percent on Friday, in a Mumbai market that fell more than 400 points.

Sobha Developers was worst hit in the sector, ending down 6 percent. Unitech shares fell 5.9 percent, while DLF slipped 5.46 percent.

Coal India shares rise


Shares in Coal India rose 1.8 percent on Thursday to close at 328.45 rupees.

The company, which is the world’s largest coal miner, may miss the current fiscal year’s 460.5 million tonnes production target, its technical director said on Wednesday.

The government recently raised about 152 billion rupees through the sale of some of its holding in Coal India.

Spanco shares jump 20 pct in trade


A broker looks at computer screens at a stock brokerage firm in Mumbai May 10, 2010. REUTERS/Arko Datta/Files

Shares in Spanco rose 20 percent to hit the upper trading limit and a 52-week high after the company said it has got distribution franchise from Maharashtra State Electricity Distribution Co. worth 70 billion rupees.

Spanco shares closed nearly 15 percent higher at 199.45 rupees with volumes of over 2.5 million shares.

Power Grid shares rise


Shares in Power Grid, the world’s third-largest power transmission company, rose more than 5 percent to 103.75 rupees on Tuesday.

The company’s share sale (FPO)¬†worth up to $1.7 billion was fully covered on its first day as investors sought what is seen as relatively safe exposure to surging electricity demand in the country.

Power Grid drops after FPO pricing


The sun sets behind electric pylons in Allahabad February 22, 2006. REUTERS/Jitendra Prakash/Files

Power Grid shares fell 3.6 percent to 98.35 rupees on Monday after the government set a price range for its follow-on share offer at a discount to 12-17 percent to Friday’s closing price.

Power Grid, which launches a share sale to raise up to $1.7 billion, aims to double capital spending to about $27 billion in the five years starting in April 2012 to meet booming demand for electricity.