Money on the markets

A maturing market amid the mayhem

Dr Reddy’s surges on Glaxo report


Dr Reddy’s shares hit an intra-day high of 900 rupees on Friday before closing 3.6 pct up at 865.45 rupees.

Shares in the drugmaker jumped to a 3-1/2-year high on a report that GlaxoSmithline is in talks to buy a 5 percent stake in the company for $150 million.INDIA-CHILDREN/UNICEF

At a time when firms are competing to increase their share in the global healthcare industry, the proposed move will bring a lot of mileage for both firms.

Drug sales in emerging markets are expected to grow at a mid-teens percentage rate through 2013, according to IMS Health.

Reliance drops on share sale


Shares in Reliance Industries ended over 4 percent down at 2,086 rupees on Thursday while the BSE Sensex ended flat.

Reliance, which has over 13 percent weightage in the main index, dropped as much as 97 rupees making it the top loser in the index.

Tata Steel leads metals


Tata Steel shares jumped 8.2 percent on Wednesday, registering their biggest one-day rise in more than three months and their best close in a year. The surge helped the BSE Metal Index gain 4.2 percent.

tata-steelThe counter led the gainers on the BSE after Federal Reserve Chairman Ben Bernanke said the U.S. recession was probably over, boosting metals stocks across regions. Shanghai copper futures also rose but lagged the international market.

Reliance Ind leads Sensex rise


Shares in Reliance Industries ended 1.5 percent higher at 2180 rupees, pushing the broader market up 1.4 percent to 16,454.

Reliance Industries, which has the maximum weightage on the Sensex, ended as the top gainer in terms of net gain on the BSE Oil & Gas Index and also among the 30 Sensex

Sterlite Industries tumbles


The BSE Sensex ended 0.3 percent down on Monday snapping a six-day rally. Shares in metals maker Sterlite Industries dropped 3.5 percent to 719 rupees.

Sterlite Industries is already in the news after it proposed to raise its offer price for bankrupt U.S. copper miner Asarco to $2.565 billion.sterlite-ind

Zandu Pharma zooms


Two consecutive upper circuits of 20 percent have helped shares of Zandu Pharma cross the 10,000 rupee mark, its highest since October 2008.

ZanduThe shares closed at 10,802 on Friday after gaining 1,800 rupees and ended as the top gainer of the BSE mid-cap index.

ICICI Bank rises in weak market


A man counts money after withdrawing it from an ATM in Jammu October 14, 2008. REUTERS/Amit GuptaShares in ICICI, India’s top private sector bank, gained 3.12 percent on Thursday in a market that ended just 33 points higher.

The banking index rose over 1 percent helped by gains in ICICI Bank, which also ended as the top Sensex gainer.

Reliance Industries – star performer of the day


RELIANCE-OIL/Shares in Reliance Industries (RIL), India’s top listed company, surged 4.5 percent on Wednesday to 2169 rupees, helping the Sensex close marginally in the green.

RIL shares have been on the rise for four consecutive trading sessions now, adding over 12 percent over the period.

SBI shares gain over 4 pct


Shares of India’s biggest bank, State Bank of India (SBI), gained over 4 percent on Tuesday and ended as the top gainer in the banking index.

SBI’s chairman said that earnings of the bank are seen rising 30-35 percent in the current quarter, with retail loans growing at about twice the pace from the year earlier.

Auto index ends as top performer


INDIA-MOTOR/SALESThe BSE Auto index ended as the top sectoral performer on Friday, gaining 2.8 percent in a market that rose nearly 300 points.

Amtek Auto was the star performer in the auto index, with its shares surging nearly 16 percent. Its shares have jumped nearly 50 percent since July.