Money on the markets
A maturing market amid the mayhem
Shares in Titan Industries rose to a lifetime high on Monday. The company announced its quarterly results on January 30 with a net profit of 754.3 million rupees, up nearly 500 percent from a year ago.
Its shares ended 13.6 percent higher at 1,703 rupees with volumes of 0.14 million shares. BSE Consumer Durable Index ended 5.7 percent higher.
The company has given returns of over 19 percent in the current year.
Would you invest in the counter at this point?
Shares in Tata Steel, the world’s No.8 steelmaker by output, soared over 5 percent in intra-day trade and ended 4.8 percent higher at 585.55 rupees.
The stock, valued at $11.7 billion, nearly trebled last year, easily beating an 81 percent gain on the main index.
Shares in Software services firm HCL Technologies dropped on Monday as the company missed forecasts with quarterly profit dragged down a fifth by declining other income, forex losses and higher costs.
The counter ended 5.6 percent lower at 361.15 rupees with volumes of 0.3 million shares.
The BSE Oil & Gas Index ended 2.3 percent higher on Thursday on reports that state-run oil companies may get cash instead of oil bonds as compensation.
Shares in ONGC ended 2.9 percent higher while Hindustan Petroleum rose 1.2 percent. Aban Offshore led the list of losers on the Oil and Gas index with a 1.4 percent drop.
The BSE IT index ended 3.9 percent higher on Tuesday as the overall 30-share sensitive index ended 0.59 percent down.
Infosys Technologies raised its annual sales forecast as big financial services clients boost orders in an improving global economy, pointing to an industry recovery.
Shares in index heavyweight Reliance Industries dropped 1.8 percent on Monday, after it raised $763 million through share sale.
The share sale by energy major Reliance Industries, is seen as part of the company’s bid to take control of Luxembourg-based LyondellBasell.
Telecom stocks had a bad year with top counters such as Bharti Airtel and Reliance Communication slipping 8 and 23 percent respectively in 2009.
The overall market however gained as much as 80 percent during the year.
The Sensex ended 81 percent higher at 17465 and gained more than 7,000 points, its biggest yearly gain since 1991.
Shares in power and utility firm Reliance Power jumped nearly 5 percent on Tuesday after the company said it expected to start generating more than 3,000 megawatts of power by 2012.
Shares in the company rose over 6 percent in intra-day trade and finally closed 4.9 percent higher at 154 rupees with volumes of 2.8 million shares.