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A maturing market amid the mayhem

ARSS Infrastructure rises

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INDIA
Over the past two sessions, ARSS Infrastructure Projects Ltd rose over 80 percent from its issue price of 450 rupees per share.

Shares in the counter ended 10.6 percent higher at 814.65 rupees with volumes of 8.5 million shares on Thursday.

The construction firm listed on BSE on Wednesday at 650 rupees, nearly 45 percent higher than its issue price and ended with volumes of 11.5 million shares.

The firm is raising 1.03 billion rupees through the IPO which closed on Feb 11. The proceeds would be used for working capital, both for the company’s existing and new projects.

BSE Oil & Gas Index rises

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INDIA-STOCKS/

The BSE Oil & Gas index rose for the third consecutive day and ended 2.2 percent higher while the broader market closed 1.3 percent up.

The rise in the index was led by Reliance Industries, GAIL, Aban offshore and Cairn India.

Auto index rises

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INDIA-MOTOR/SALES

The BSE Auto index gained over 4 percent on Tuesday in a broader market that ended 2.09 percent higher at 16,772.

The rise in the BSE Auto index was led by MRF, BOSCH, Tata Motors and M&M.

Shares in Tata Motors rallied more than 12 percent on Tuesday afternoon as investors cheered strong sales growth in February. Shares in the counter ended at 797 rupees.

Realty index dips 3 pct

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INDIA-ECONOMY/The BSE Realty Index dropped for a third straight day on Friday, shedding 3.3 percent in a broader market that ended 0.83 percent down.

Indiabulls Real Estate slipped 6.2 percent and was the top sectoral loser, while DLF and Unitech lost 4.1 percent and 1.4 percent respectively.

Reliance Industries drops

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RELIANCE-OIL/

The BSE Sensex fell 0.6 percent at 16,327 led by losses in Reliance Industries, Sterlite Industries and ITC.

Shares in Reliance Industries ended 3.3 percent lower at 997 rupees with a volume of 1.1 million shares.

Uttam Galva rises on stake sale

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INDIA-STOCKS/

Shares in Uttam Galva rose more than 16 percent after ArcelorMittal said it expects to purchase an additional 4.9 percent stake in the company.

Uttam Galva ended 6.3 percent higher at 112.7 rupees with volumes of over 5 million shares.

BSE IT Index rises over 2 pct

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INDIA

Export-focused software stocks did well on Tuesday, helping boost the BSE IT Index 2.5 percent to its second straight day of gains.

The broader market ended 0.6 percent up with financials being among the losers.

Sensex heavyweights Infosys, Tata Consultancy Services and Wipro rose 2.9 percent, 1.4 percent and 2.4 percent respectively.

BSE Oil and Gas Index drops

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INDIA

The BSE Oil & Gas Index dropped 3.4 percent on Friday in a broader market that fell 2.7 percent to its lowest close in three months.

Reliance Industries led the Oil & Gas Index fall with a 3.7 percent drop.

According to CNBC TV18’s business channel, the energy major has submitted a $2 billion expression of interest for private Canadian firm Value Creation Inc, which holds oil sands assets. Reliance fell to 981.30 rupees, its lowest close in three months.

Bad day for realty stocks

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INDIA

The BSE Realty Index slumped 3.8 percent on Thursday in a broader market that was weighed down by weak global cues.

The Realty Index was the top sectoral loser on the BSE, with all components except Mahindra Lifespace, ending in the red. Sobha Developers dropped 5.6 percent.

Titan Industries rises

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INDIA-STOCKS/

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.

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