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Mixed day for banking stocks


It was a mixed day of trade for banking stocks on the bourses on Tuesday as the sectoral index closed marginally higher, but stocks like HDFC Bank gained over 2 percent and PNB jumped 1.9 percent.

Of the 17 stocks in the index, 11 closed in green, led by HDFC Bank. Kotak Mahindra Bank was the worst index performer, as it ended with losses of 2.1 percent.

ICICI, India’s top private lender, also slipped over 1 percent. Small player Bank of India ended down 2 percent.

The banking index has gained over 5 percent this month, lower than the Sensex’s rise of little over 6 percent.

Bharti gains on deal talks



Bharti Airtel rose on Monday morning on hopes that the firm is heading towards a smooth landing in its $9 billion deal talks to buy Kuwaiti telecom Zain’s African operations.

Bharti Airtel rose over 2 percent in intra-day trade and finally closed 1.4 percent higher at 316 rupees with volumes of 1.07 million shares.

S Kumars rises


S Kumars touched an 18-month high on Friday and was the top mid-cap index gainer with volumes as high as 17 million shares.

Shares in S Kumars Nationwide Ltd ended 19.6 percent higher at 64.65 rupees. The company is looking to raise between $100 million to $150 million by listing its subsidiary, Reid & Taylor, in which the company holds nearly 75 percent.

Strides Arcolab jumps on deal talk



Shares in Strides Arcolab rose over 4 percent on Thursday after Aspen Pharmacare said it would sell its 50 percent stake in global oncology joint ventures to joint owner Strides for $117 million.

Shares in the counter rallied over 5 percent in intra-trade trade before ending 4.2 percent higher at 68.80 rupees with volumes of 28.29 million shares.

from India Insight:

Third time’s the charm for Mukesh Ambani

Mukesh Ambani(UPDATE: Reliance Industries has gained an overseas foothold by agreeing to pay $1.7 billion to form a joint venture with U.S.-based Atlas Energy. India's largest-listed firm will pick up a 40 percent stake in Atlas's operations in the booming Marcellus Shale)

The ruthless efficiency and smooth execution that marked Reliance Industries' development of the world’s largest refining complex in western India and its vast gas fields off the country's east coast has eluded the top-listed Indian firm during its recent attempts at overseas takeovers.

Sugar stocks fall on declining prices



Shares of sugar manufacturers, pressured by weak prices, registered a fall of 1-3 percent on Wednesday.

A newspaper reported on its website that sugar prices have declined 22 percent since January and this would not only hurt margins but also the growth prospects.

Reliance Industries gains


Shares in Sensex heavyweight Reliance Industries rose over 3 percent in intra-day trade and closed 3.8 percent higher at 1,066 rupees.

The broader market ended 1.2 percent higher at 17,383 with Reliance Industries and L&T leading the gainers.

HUL shares gain 2.6 percent


Shares in Hindustan Unilever (HUL) gained 2.6 percent on Monday to close at 225.3 rupees and was among the top Sensex gainers even as markets ended flat.

The volumes stood at a little over 1 million shares on BSE.

Hurt by the pricing war in the detergent space, HUL shares had been struggling and lost more than 8 percent over the past two sessions.

Weak day for realty counters


Realty stocks ended the week on a negative note with the sectoral index slipping 0.8 percent to end as the top loser among sectors.

Sobha Developers led the fall with a 3.4 percent decline, followed by Peninsula Land which fell 2 percent.

HUL shares fall over 4 pct


Consumer goods maker Hindustan Unilever fell over 4 percent on Thursday to close at 229 rupees and was the top loser among Sensex components.

The firm, which is a unit of Anglo-Dutch firm Unilever, also ended as the top loser on the BSE FMCG Index, which dropped 0.8 percent and was one of the top sectoral losers.