Mkts close on a high note; Sensex soars : Sify.com

NSE 5762.75 +128.15
BSE 19363.19 +359.93

After opening on a high note this morning, the market retreated a bit within the next few minutes as stocks found some resistance at higher levels. However, it recovered rather swiftly and kept moving ahead as the session progressed with the firm trend on the Asian bourses and buoyant GDP growth keeping the bulls fairly engaged right till the end.

Mirroring the upbeat mood, the Sensex, which opened with a positive gap of over 130 points at 19,136.12 and hit a high of 19,424.99 in late afternoon trade, ended with a strong gain of 359.93 points or 1.89% at 19,363.19. The Nifty index of the National Stock Exchange closed with a gain of 2.27% or 108.15 points at 5762.75, around 20 points down from its intra-day high of 5782.55.
Thanks to the extremely positive sentiment, only Hindustan Unilever (down 1.45%), Ambuja Cements (down 0.85%), Bajaj Auto (down 0.55%) and BHEL (down 0.25%) among the Sensex components ended in the negative territory today.

Among Nifty stocks, GlaxoSmithKline Pharma (down 3.4%), Hindustan Petroleum Corporation (down 2.85%) and Hero Honda (down 2.6%) lost significant ground. Strong and widespread was the surge that all the sectoral indices closed with sharp gains today. The Metal index, which moved up by 5.09%, was the biggest gainer followed by the Realty barometer, which surged 3.94%. The Bankex, IT, Oil & Gas and Teck indices gained 2.5% - 2.75%. Mirroring the gains posted by power stocks, the Power index climbed up 2.13%.

The Consumer Durables, Capital Goods, FMCG and PSU indices went up by 1% - 1.75% while the Auto and Healthcare indices firmed up by 0.92% and 0.91% respectively. With several stocks from the midcap space vaulting higher, the Midcap index shot up by 2.28%. The BSE Smallcap index, not missing out on the rally, ended stronger by 1.31%.

Realty stock DLF ended as the biggest gainer from the Sensex for the first ever time. The stock, which made it to the Sensex pack recently, closed with a big gain of 7.05% at Rs 943.90.
Reliance Energy powered up by 4.5%. Tata Consultancy Services gained 3.85%. HDFC rallied 3.6%. Satyam Computer Services gained 3.4%. Tata Steel moved up by nearly 3% to Rs 825.70. ONGC (2.6%), Grasim Industries (2.6%), HDFC Bank (2.5%), Mahindra & Mahindra (2.45%), Maruti Suzuki (2.25%), Infosys Technologies (2.2%), Wipro (2.2%), Ranbaxy Laboratories (2.2%) and NTPC (2.15%) also closed with strong gains.

More @ Mkts close on a high note; Sensex soars

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Corporates: Tata Steel, DLF

Tata Steel

Tata Steel, formerly known as TISCO (Tata Iron and Steel Company Limited), is a steel company based in Mumbai, India. Its main plant is located in Jamshedpur, Jharkhand, though with its recent acquisitions, the company has become a multinational with operations in various countries. The registered office of Tata Steel is in Mumbai. In the year 2000, the company was recognised as the world's lowest-cost producer of steel. The company was also recognised as the world's best steel producer by World Steel Dynamics in 2005. The company is listed on BSE and NSE.

More@ http://en.wikipedia.org/wiki/Tata_Steel

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DLF Universal Limited

DLF Universal Limited, or DLF, is India's largest real estate developer based in New Delhi. The company was founded by Indian businessman Chaudhury Raghuvendra Singh in 1946 to trade in the real estate business after the forthcoming partition. Dlf developed some of the first residential colonies in Delhi such as Krishna Nagar. In the mid-1970s, the company started developing its ambitious DLF City project which helped transform Gurgaon from a farming village to a commercial and real estate hub. The company has interests in commercial, residential and retail real estate market. Its upcoming plans include hotels, infrastructure and special economic zones-related development projects.[1]

More@ http://en.wikipedia.org/wiki/DLF_Universal_Limited


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Know About: Dalal street, Wall Street

Dalal Street

Dalal Street (Marathi: दलाल - Dalāl means a broker, or dealer) in downtown Mumbai, India is the location of the Bombay Stock Exchange (in the Phiroze Jeejeebhoy Towers) and several related financial firms and institutions. When Bombay Stock Exchange was moved to this new location at the intersection of Bombay Samāchār Marg, Hammam Street, the street next to the building was renamed as Dalal Street. Similar to Wall Street in New York City, it is often used as a synonym for the Indian financial establishment in general.

more @ http://en.wikipedia.org/wiki/Dalal_Street

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Wall Street

Wall Street is a city street in lower Manhattan in New York City in the United States. It runs east from Broadway downhill to South Street on the East River, through the historical center of the Financial District. Wall Street was the first permanent home of the New York Stock Exchange, and over time Wall Street became the name of the surrounding geographic neighborhood.[1] Wall Street is also shorthand (or a metonym) for "influential financial interests" in the U.S.[2] as well as for the financial industry in the New York City area.
Several major U.S. stock and other exchanges remain headquartered on Wall Street and in the Financial District, including the NYSE, NASDAQ, AMEX, NYMEX, and NYBOT. Many New York-based financial firms are no longer headquartered on Wall Street, but are in midtown Manhattan, the outer boroughs of the city, Long Island, Westchester County, Fairfield County, Connecticut, or New Jersey.

More @ http://en.wikipedia.org/wiki/Wall_Street




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Blog roundup

bsensedaily.com


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Deadpresident.blogspot.com

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Source: http://www.Deadpresident.blogspot.com and bsensedaily.com We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information given. Blog is not responsible for any faulty information.

Moneycontrol, Myiris.com Articles

Moneycontrol.Com

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Are there signs of operator activity in many stocks?
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Myiris.Com

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Source: http://www.moneycontrol.com and www.myiris.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information given. Blog is not responsible for any faulty information.

Economic Times, Rediff stories

The Economic Times

K V Kamath is Businessman of the year 2007

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Tech companies now net talent on the Web

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Rediff.Com

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K.V. Kamath is Forbes Asia bizman of the year : Sify.Com

Kamath is Forbes Asia bizman of the year
The m-cap of ICICI swelled to $31 b under his stewardship.


K.V. Kamath, CEO, ICICI Bank, has been named Businessman of the Year for 2007 by Forbes Asia for his steadiness at steering ICICI Bank into one of Asia's top banks. Under Kamath's watch since 1996, the market capitalisation of ICICI Bank has moved up to over $31 billion (Rs 1.25 lakh crore as on November 28) placing it among the region's top 10 banks.

"By this measure, it is bigger than Singapore's DBS Group and Korea's Kookmin Bank, and has attracted big stakeholders such as Singapore's Temasek Holdings and CLSA and Merrill Lynch funds," a press release issued by Forbes said.

Sixty-year old Kamath's win puts him in the company of Nandan Nilekani of Infosys Technologies, last year's winner, and Ratan Tata, the 2004 businessman of the year.
His addition means three Indian executives have won the accolade in the last four years. Tim Ferguson, Editor, Forbes Asia, said: "Kamath's leadership has been outstanding. His focus on serving India's growing middle class by providing first world banking service at affordable prices is largely the reason behind the phenomenal growth of ICICI."

The bank's assets have grown 40 per cent annually in the last three years propelled by a boom in consumer credit where ICICI Bank has a dominant one-third market share.



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Sensex settles with a modest gain : Sify.com

NSE 5634.60 17.05
BSE 19003.26 64.39

Taking cues from global markets which had surged higher on expectations of a rate cut, equities opened on a high note on the major Indian bourses this morning, and, due to heavy short-covering in the derivatives segment ahead of expiry of November series contracts, remained high up in the positive zone till about an hour to go for the closing bell.

However, due to a fairly strong bout of selling in a few blue chip stocks, the benchmark indices Sensex and Nifty gave up a significant portion of their gains in the end. Bank, oil and realty stocks closed with smart gains. Information technology stocks, which had a bright spell today, closed well off their intra-day highs due to strong resistance during the fag end of the day.
Auto stocks too surrendered most of their gains. Power, healthcare and capital goods stocks met with profit taking. Selling was evident in late afternoon trade in midcap and smallcap segments as well.

While the Sensex, which opened with a huge positive gap of over 350 points at 19,290.67, ended the session with a modest gain of 64.39 points or 0.34% at 19,003.26, the Nifty settled at 5634.60, well off its high of 5725, with a gain of 0.3% or 17.05 points. Till around mid afternoon, only a few stocks among the Sensex components, were seen struggling to make a headway. However, when trade ended for the day, as many as 14 stocks from the Sensex pack had drifted down into the red. Among them, Bajaj Auto (down 4.65%), Ranbaxy Laboratories (down 2.65%), Reliance Energy (down 2.35%) and Tata Steel (down 2%) were the worst hit.

Reliance Communications, Hindalco and BHEL eased by 1.95%, 1.85% and 1.35% respectively. ITC, HDFC, ONGC and Larsen & Toubro lost 0.5% - 1%. Cipla and Grasim Industries lost marginal ground. Banking sector heavyweights HDFC Bank (4.3%), ICICI Bank (3.15%) and State Bank of India (0.8%) closed with sharp gains.

Reliance Industries firmed up by 1.15%. Automobile stocks Maruti Suzuki (2.5%) and Mahindra & Mahindra (1.5%) ended on a firm note. Hindustan Unilever, Bharti Airtel, Ambuja Cements, NTPC, DLF and Tata Motors closed with modest gains. IT stocks Wipro, Satyam Computer Services, Tata Consultancy Services and Infosys Technologies ended with very small gains.

Reliance Petroleum flared up 12.25% on hectic short-covering. On the National Stock Exchange, the Reliance Petroleum counter clocked a huge volume of 176.59 million shares today. At nearly Rs 3625 crore, RPL's contribution to the turnover on NSE today was quite significant.

More@ Sensex settles with a modest gain

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Personalities: Ashok Soota, Baba Kalyani

Ashok Soota

Ashok Soota was the President of Wipro from 1984 to 1999. He co-founded MindTree Consulting in 1999, which is currently a leading name in IT consulting.He has played a major role in the development of the IT industry in India.

Chairman and managing director of MindTree Consulting, Ashok Soota co-founded the company in August 1999 along with nine other industry professionals.
Prior to co-founding MindTree, Soota was president of Wipro Infotech from 1984 to 1999. Under his leadership, the company grew from a US$ 2 million business in 1984 to a US$ 500 million business in 1999.

More about @ http://en.wikipedia.org/wiki/Ashok_Soota

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Baba Kalyani

Baba N. Kalyani (born January 7, 1949) is an Indian billionaire businessman. According to Forbes magazine, he is the 562nd richest person in the world[1] and 19th richest in India.[2]
Mr.Kalyani is the chairman and managing director of Bharat Forge, the flagship company of the Kalyani Group and the world's second-largest forgings manufacturer after ThyssenKrupp of Germany. It is expected to take the top spot in the not too distant future. He has a BE(Hons.) from BITS Pilani and an MS degree from the Massachusetts Institute of Technology.
Baba Kalyani currently lives in Pune, India. He is the founding chairman of Pratham Pune Education Foundation,[3] a charity that provides primary education for underprivileged children.

More @ http://en.wikipedia.org/wiki/Baba_Kalyani


Source: http://en.wikipedia.org. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information provided. Blog is not responsible for any faulty information.