Money on the markets

A maturing market amid the mayhem

SpiceJet, Sun TV slip on CBI probe talk

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SpiceJet aircraft prepares for landing at the airport in Mumbai July 15, 2008. REUTERS/Punit Paranjpe/FilesShares in SpiceJet and Sun TV Network fell on market talk that Sun founder Kalanithi Maran’s deal of buying a stake in SpiceJet was under investigation by the Central Bureau of Investigation, four dealers said.

Shares of both the companies had fallen 7-13 percent on Friday

SpiceJet closed 2 percent lower at 47.65 rupees while shares in Sun TV Network ended 11.4 percent down at 410 rupees.

Do you think shares in SpiceJet and Sun TV will fall further?

BSE Power index falls

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The BSE Power index fell 1.3 percent on Wednesday to end as one the top sectoral losers, as the broader market ended marginally higher.

Shares in JSW Steel dropped nearly 3 percent and ended as the top loser in the index. BHEL and NTPC shares lost more than 2.5 percent.

Realty stocks struggle, Unitech falls 10.6 pct

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Shares in Unitech, one of India’s leading real estate firm, fell 10.6 percent on Tuesday to close at 43.05 rupees. The stock ended as the top loser in the BSE Realty Index.

Rival DLF shares ended 1.4 pct lower. DLF said it was cautious on the near-term outlook as rising interest rates could weigh on demand after the firm reported a marginal drop in quarterly earnings.

Bad day for banking stocks

- It was not a good day for banking counters, as the markets slipped more than 250 points in Thursday. State Bank of India and ICICI Bank dropped nearly 1 percent and 2.1 percent respectively, while HDFC Bank closed 1.7 percent lower. Financials led the decline in the markets, as expectations for another rate increase in the next two months after the RBI’s recent move weighed on sentiments. Is this the right time to enter banking stocks?

ICICI Bank ends up 1.7 pct

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Shares in ICICI Bank, India’s top private lender, gained 1.7 percent on Monday, as the bank said that its Q3 net profit rose more than 30 percent.

This was the bank’s strongest pace of growth in three quarters.

ICICI Bank Chief Executive Chanda Kochhar said that the bank expected “at least” 20 percent credit growth in 2011/12 compared with an expected 18 percent growth in the fiscal year ending on March 31.

RIL shares fall

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Shares in Reliance Industries, India’s top listed firm, ended down 1.2 percent to close at 969.75 rupees on Thursday, as the BSE oil & gas index ended down 1.5 percent.

The shares have fallen significantly since November, when they were trading above 1100 rupees.

TCS shares touch record high

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Shares in TCS gained nearly 5.5 percent on Tuesday after the firm had reported a good set of quarterly numbers on Monday evening after market hours.

TCS led the gains in the benchmark Sensex and rose to a record high after it beat street estimates and said it expected strong demand for outsourcing.

L&T shares fall after quarterly results

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Shares in engineering conglomerate L&T ended down 1.65 percent on Monday after the company posted a 10.5-percent rise in standalone profit for the quarter ended in December, but a fall in its operating margin hit investor sentiment.

The company said its operating margin in the third quarter was at 10.8 percent compared with 12.4 percent a year ago.

HDFC Bank shares drop

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Shares in HDFC Bank, one of India’s leading private sector bank, fell 5 percent on Monday, with the broader market remaining weak and slipping 468 points.

The shares ended as the top Sensex loser, after losing 113.45 rupees to close at 2154.90 rupees.

Tata Motors down 5.5 pct

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Shares in Tata Motors ended down 5.5 percent to end as the top loser in the BSE Auto Index as overall markets remained weak and slipped nearly 500 points.

The firm’s shares closed at 1189.5 rupees, and was the second worst performer in the 30-share BSE Sensex.

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