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Amtek India rises on open offer


Shares in Amtek India pared early gains of over 10 percent on Friday to close 3.5 percent up.

The jump followed Amtek Auto Ltd’s announcement that it had bought 26.25 percent stake in group firm Amtek India.

Amtek Auto bought the stake through several block deals on the Bombay Stock Exchange at an average price of 64.83 rupees a share.

Amtek India was the top traded stock on BSE with volumes of over 35 million shares, while Amtek Auto ended 3.07 percent higher.

Tata Steel climbs after early losses



Tata Steel’s warning on profit growth saw its shares drop nearly 2 percent in early trade on Thursday, but the counter pared losses lateto close 1.7 percent up.

The company late on Wednesday said that rising raw material costs and the euro zone’s debt crisis could crimp Tata Steel profit growth.

Mahindra gaining focus on Auto front


Mahindra & Mahindra rose over 2.5 percent after the vehicles and tractor maker said on Wednesday it would buy a 55.2 percent stake in Reva Electric Car Company.

Shares in the utility vehicle maker, worth nearly $7.1 billion, pares most of the gaines and ended 0.6 percent higher at 519.45 rupees with volumes of 0.3 million shares.

Bad day for metal stocks


The BSE Metal index dropped 5.1 percent on Tuesday, the lowest among the sectoral indices.

The BSE Sensex also dropped to its lowest in more than three months as renewed fears over Europe’s debt woes triggered worries foreign portfolio investors will step up their withdrawals.

Shares in Ambani-owned firms rally


INDIA-STOCKS/CLOSEShares in companies controlled by the billionaire Ambani brothers were among the big gainers on Monday after the two moved towards resolving a long-running strife.

The BSE Sensex ended 0.15 pct higher led by Reliance Industries which gained 2.5 percent at 1021 rupees.

BSE Oil & Gas sector rises


The BSE Oil & Gas Index ended 1.79 percent up in a broader market that closed 0.68 percent higher at 16519.

Lead gainers in the index were energy explorer ONGC, which ended 8.7 percent higher at 1118 rupees, and BPCL which rose 2.8 percent, after the government more than doubled natural gas prices on Wednesday.

Aban Offshore drops on as rig sinks in Caribbean



Shares in ABan Offshore lost almost a fifth of their value on Friday after its gas exploration rig sank in the Carribean. The counter ended 18.2 percent lower at 831 rupees, with volumes of over 3.9 million shares.

An analyst said the rig might hurt revenues of the company. “This was one of the best assets for the company with a day rate of $385,000, which is the second highest revenue for the company in day rate terms,” Mehul Thanawala, Vice President (Research) at JM Financial, told Reuters.

Realty Index slips, Unitech down 4.9 pct


The BSE Realty Index ended 4.3 percent lower while the broader Index ended 1.2 percent down on Friday leading to the worst weekly fall in six months.

Stocks which declined include Sobha Developers which ended 6.2 percent down, DLF 4.4 percent, HDIL 5.1 percent and Unitech which slipped 4.9 percent.

Auto index jumps 1.5 percent


The BSE Auto Index gained 1.5 percent on Friday with Hero Honda and Tata Motors posting gains of over 3 percent.

Ashok Leyland was the star performer among index counters with gains of over 8 percent. The company said March quarter net profit more than quadrupled on higher sales, but warned of supply constraints and margin pressure in the future.

Firm trading session for banking stocks



It was a good day for banking counters with the Bankex gaining 1.6 percent and ending as the second best sectoral performer.

Financial counters rose on hopes that the economy, expected to expand 8.5 percent in the fiscal year beginning April 1, will boost demand for loans.