Money on the markets

A maturing market amid the mayhem

Tata Steel shares slip after results


STEEL-ECONOMYShares in Tata Steel slipped over 5 percent on Thursday after the firm posted disappointing June quarter numbers.

The company which is the world’s No.8 steelmaker by output, posted a consolidated June quarter net loss of 22.39 billion rupees, compared with 39.15 billion rupees profit a year earlier.

Poor demand at the company’s European unit, Corus, and lower steel prices weighed on earnings.

Tata Steel shares closed at 436 rupees after falling by 24 rupees, and remained the top loser among the components of Sensex and BSE Metal Index.

Aban Offshore shares surge


Graph showing 5-day price movement of Aban Offshore.Investors in offshore and oilfield services provider, Aban Offshore, have a reason to party tonight – its shares jumped 27 percent to close at 1536 rupees, making it the top gainer on the Bombay stock exchange on Wednesday.

The company said on Tuesday that it expects revenue of $695 million (around 3,400 crore rupees) from two contracts it signed for deploying four rigs. The trading volumes in this counter were high and stood at 3.8 million shares, its highest single day volume since mid-May.

Good day for IT stocks, Aptech shines


INDIATechnology stocks traded firm on Tuesday in an otherwise weak market, with the BSE IT index rising nearly 2 percent as the rupee weakened.

Thirteen of the 15-stock BSE IT index closed in the green, with Aptech leading the pack with a 16.5 percent jump.

Will you buy Bharti Airtel shares?


Children play near a Bharti Airtel billboard outside a railway station in Chandigarh May 26, 2009Shares in Bharti Airtel gained 2.8 percent on Friday, contributing well to the benchmark’s gain of over 200 points on the last trading day of the week.

The company is in exclusive talks for a stake in South Africa’s MTN, a deal which will create the world’s No. 3 mobile firm. On Thursday, the two firms said they were extending talks till Sept. 30, their second such extension this year.

Investors and the IPO craze


The UPA government’s deferred divestment programme seems to have had a smooth take-off. State utility NHPC’s IPO was subscribed 23.5 times at close.

INDIA ENERGYThis is to be followed by an offering from another state heavyweight, Oil India Ltd, on September 7. But what do these high decibel IPOs mean for the stock market and small investors in particular?

Small caps shine


MARKETS-SOUTHASIA-STOCKS/The BSE Small-cap index gained over 4 percent in Thursday’s market rally with stocks such as Firstsource Solutions and SpiceJet gaining over 12 and 10 percent respectively.

From the 463 stocks in the small cap index, around 30 posted double-digit gains, data from Thomson Reuters showed.

Healthcare index stays firm


AIDS INDIA BLOODTESTThe BSE healthcare index traded firm and gained 1.3 percent on Wednesday in a market that ended marginally lower.

Ranbaxy Labs was up 4.5 percent while other stocks like IPCA Labs, Sun Pharma and Cipla posted decent gains.

Mid-cap index outperforms Sensex


Graph showing 1-month return of BSE Sensex and BSE Mid-cap indexThe BSE Mid-cap index posted a rise of 1.1 percent on Tuesday even as the Sensex ended 0.4 percent higher after a volatile session.

NDTV climbing over 14 percent and Anant Raj Industries up 12.1 percent were the top gainers in the mid-cap index on Tuesday.

IT stocks shine in a weak market


INTERNET-DISRUPTION/The BSE IT index gained 2.6 percent in choppy but dull trade on Monday.

Top IT companies posted smart gains with Patni Computer leading the sectoral index with a 7 percent rise. Shares of Wipro, TCS and Infosys touched their 52-week highs.

Many of these firms reported better-than-expected Q1 numbers last month.

The rupee movement versus the dollar has also been supportive for this industry, which receives significant revenue in foreign currency. The rupee has strengthened to below 48/dollar from near 52/dollar levels in March this year.

Airline stocks face the heat


Airline stocks failed to bring cheer to the market on Monday after the Federation of Indian Airlines (FIA) called off plans for a one-day strike later this month.SPICEJET/INVESTMENT

Private airline operators had on Friday announced they would suspend operations on August 18 to protest the lack of government relief for the ailing industry.