Sensex ends 58 pts up : Sify Finance

Sensex ends 58 pts up

NSE 5954.70 14.70
BSE 19795.87 57.80

The Sensex, which breached the 20,000 mark at the bell - it opened at 20,018.17, around 280 points higher than its previous closing mark - and edged up to 20,064.31 in early trade. Strong global markets and some stock specific developments contributed to the early surge today. However, the market turned a bit choppy after that as participants appeared reluctant to hold on to their positions at higher levels.

A sudden and sharp bout of selling pressure even pushed the Sensex down into the red during the fag end of the session. However, thanks to buying at lower levels, a few front line stocks regained some lost ground and the barometer managed to sign off on a positive note today.
While the Sensex closed with a gain of 57.80 points or 0.29% at 19,795.87, the Nifty, which hit a new all-time high this morning when it rose to 6027.05 after opening at 5941.05, ended the day with a modest gain of 0.25% or 14.70 points at 5954.70. The Nifty plunged to a low of 5919.80 as selling pressure engulfed the market during the closing minutes.

Cipla (4.9%), ICICI Bank (3.25%), Reliance Energy (3.15%), HDFC (2.65%), Bharti Airtel (2.3%), Infosys Technologies (2%), DLF (1.75%), Mahindra & Mahindra (1.45%) and Ranbaxy Laboratories (1.3%) recorded strong gains today.

Maruti Suzuki moved up by 0.9%. State Bank of India and Tata Motors ended higher by around half a per cent. Hindustan Unilever, NTPC, Reliance Communications and Tata Consultancy Services moved up marginally. Ambuja Cements and ITC ended almost unchanged from their previous closing levels.

Hindalco eased by 3.1% to Rs 193. Grasim Industries lost more than 3%. Bajaj Auto (down 2.55%), HDFC Bank (down 2.4%), Tata Consultancy Services (down 2.1%), BHEL (down 1.3%), ONGC (down 1.15%), Wipro (down 1.1%) and Reliance Industries (down nearly a per cent) also closed with sharp losses. ACC slipped by 0.9%. Larsen & Toubro and Satyam Computer Services also closed on a weak note.

Sun Pharmaceuticals, SAIL, Zee Entertainment, Punjab National Bank, BPCL, Tata Power and MTNL were among the prominent losers in the Nifty index. Hero Honda, GAIL India, Hindustan Petroleum Corporation and ABB also finished with sharp losses.

Unitech zoomed to a high of Rs 445.80 in intra-day trades and despite finishing far lower at Rs 430.20, posted a smart gain of 9.5%. Sterlite Industries notched up a gain of 3.45%. Suzlon Energy (2.7%), Siemens (2.65%), Reliance Petroleum (1.65%) and Nalco (1.2%) also ended on a firm note.

Chambal Fertilizers, Omaxe, FDC, Apollo Tyres, HTMT Global, Idea Cellular, JB Chemicals, Mirc Electronics, Rashtriya Chemicals & Fertilizers, Bongaigaon Refinery, Aditya Birla Nuvo, Mastek, Asahi India and Aurobindo Pharma were among the notable gainers today.
Jindal Saw, Godrej Consumer Products, Tata Elxsi, Geometric Software, Exide Industries, Escorts, Neyveli Lignite Corporation, Arvind Mills, Gujarat Minerals, Bombay Dyeing, Indian Overseas Bank, Jaiprakash Associates, Syndicate Bank, Ingersoll Rand, Mangalore Refineries & Petrochemicals and Alok Industries drifted lower on selling pressure.

Thanks to strong buying in midcap and smallcap stocks, the market breadth remained positive right through the session today. Out of 2887 stocks traded on BSE, 1805 stocks closed on a positive note. 1043 stocks ended in the negative territory and 39 stocks finished at their previous closing levels.

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Know About: Citigroup, Bank of America

Citigroup

Citigroup Inc, operating as Citi, is a major American financial services company based in New York City, formed from the merger of Citicorp and Travelers Group on April 7, 1998.[3] According to Forbes Global 2000 in March 2007, it is the world's largest company, with total assets of US $2.4 trillion (Sept 2007) [4] The company employs 332,000 staff around the world, and holds over 200 million customer accounts in more than 100 countries.[4] It is a primary dealer in US Treasury securities[5] and its stock has been a component of the Dow Jones Industrial Average since March 17, 1997.[6] Its single largest shareholder is Abu Dhabi Investment Authority.

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

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Bank of America

Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the 2nd largest company of its kind in the world behind Citigroup.[4][5][6]

Before 1998, the Bank of America organization that exists today was known as NationsBank and was previously known in earlier years as North Carolina National Bank before being abbreviated to "NCNB" as it branched out of its home base of Charlotte, North Carolina. In 1998, NationsBank acquired San Francisco-based BankAmerica and renamed the corporation "Bank of America".

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



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Personlity of the Day: Subramaniam Ramadorai, TCS

Subramaniam Ramadorai

Subramaniam Ramadorai (இராமதுரை Tamil) is CEO and Managing Director of Tata Consultancy Services Ltd (TCS).During the past 30 years, S. Ramadorai, has played an integral role in the international development of Tata Consultancy Services (TCS). His efforts have helped make TCS one of the world's largest global software and services companies with 92000 associates working in 53 countries, operating out of over 151 offices worldwide, and with revenues over US$ 4 billion.

Ramadorai was born in Nagpur, Maharashtra and did his school education from Sardar Patel Vidyalaya, New Delhi. He holds a Bachelor's degree in Physics from Delhi University, India, a Bachelor of Engineering degree in Electronics and Telecommunications from the Indian Institute of Science, Bangalore, India, and a Masters degree in Computer Science from the University of California, USA. In 1993, Ramadorai attended the Senior Executive Development Program at the MIT Sloan School of Management.


More details@ http://en.wikipedia.org/wiki/Subramaniam_Ramadorai



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Economic Times Stories

http://economictimes.indiatimes.com



Mahindra and Mahindra unveils new Scorpio
Second rung stocks outshine
Investors need to be realistic about returns expectations
Challenges increase for Indian banks: Fitch Ratings

Blue Star to buy electrical contracting firm
RIL plant shutdown may hit LPG supply
Gulf investors pick up 18% in Parekh Aluminex
JSW Steel November crude production up 16 pct
Reliance Entertainment in 50:50 JV with GWC
Just one girl in 10 students making it to IIMs: Survey

Foxconn to invest $1.5 b in TN to make mobile parts
BT to buy Singapore's Frontline for $140 mn
India has capability to send spacecraft to Mars
Power companies' operating margins up
Rupee eases on suspected RBI intervention, gold up
Banks should attract more individual depositors: Reddy

NSE bans trading in 7 F&O contracts
Heard on the street
Prabhudas Picks; Balaji Tele, Deccan Chronicle, HT Media
Stocks to buy: Max India, SBI, BBHL
Nitin Fire to buy 40% in Dubai fire protection co
Essar Steel to continue trading on bourses: SAT

Extra load off MF investors




Source: http://www.theeconomictimes.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. Blog is not responsible for any faulty information.

Know About: Royal Dutch Shell,Total S.A

Royal Dutch Shell

Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. It is one of the largest private sector energy corporations in the world, and one of the six "supermajors" (vertically integrated private sector oil exploration, natural gas, and petroleum product marketing companies). The company's headquarters are in The Hague, Netherlands, with its registered office in London, United Kingdom (Shell Centre).[1]


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

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Total S.A

Total S.A. (Euronext: FP, NYSE: TOT) is an oil company headquartered in Paris, France, and one of the six "Supermajor" oil companies in the world. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading. Total is also a large-scale chemicals manufacturer.

More@ http://en.wikipedia.org/wiki/Total_S.A.



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25 most powerful people in business: CNNMoney Article

Power 25
25 most powerful people in business
Some are empire builders. Others are hired guns. But if they truly have world-class oomph, they're on Fortune's subjective - yet really quite accurate - list of the most powerful businesspeople in the world.

Steve Jobs Rupert Murdoch Lloyd Blankfein Eric Schmidt, Larry Page, and Sergei Brin Warren Buffett Rex Tillerson Bill Gates


More @ http://money.cnn.com/galleries/2007/fortune/0711/gallery.power_25.fortune//index.html


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FSB 100: America's fastest-growing small companiesAmerica's 100 fastest-growing small public companies. See the full results, plus top 25 companies by revenue growth, stock performance, and more.




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RIL eyes world-scale acquisitions of upto $15 bn : ET

RIL eyes world-scale acquisitions of upto $15 bn

India's top private energy group, Reliance Industries Ltd, signalled a major shift in growth strategy on Wednesday, saying it was on the prowl for world-scale acquisitions of up to $15 billion as soon as next year. Reliance, controlled by India's wealthiest man, Mukesh Ambani, has grown into one of the world's leading refiners and petrochemical firms by following an organic path, while powerful Indian peers such as Tata Group expanding aggressively overseas.

But that may be about to change, Atul Chandra, the president of Reliance's international oil business, said at the Reuters India Investment Summit. "We would be looking at major acquisitions, there is no question, because our growth cannot come only in the organic. We are always looking at opportunities where we find hidden value," he said. "All companies look for acquisitions all the time, but I can say that we would look more seriously from this year onward." "If we do something it will be world scale, it will be a major acquisition ... Such acquisitions could be in excess of $10 billion to $15 billion," said Chandra, who leads the global hunt for oil and gas assets for India's biggest listed firm.

He did not say whether the company would be more likely to buy into upstream exploration or production assets, or to expand its core downstream refining and petrochemical activities. Reliance finished building its 660,000 barrels-per-day (bpd) export-oriented refinery in western India in 2000, and next year subsidiary Reliance Petroleum will commission an adjacent plant that will lift joint capacity to over 1.2 million bpd, making it the biggest such complex in the world.

With growing crude oil demand Reliance, which has a market capitalisation of more than $100 billion, needs to boost overseas output to help ensure supplies, he said. "We would like to have oil production close to 400,000 bpd for ourselves, as a part of supply security for the refinery," said Chandra, who led the successful overseas expansion of state-owned ONGC Videsh in the 1990s. "We hope 100,000 bpd should be available from India. Therefore I should look at another 300,000 bpd overseas." Reliance could begin looking for more refining deals once the $6 billion refinery project is finished in mid-2008, he said. "At this time when the construction is on the peak we would not like to divert our resources, but we would like to look for such opportunities in four to five months," he said.

Tata Steel Ltd made corporate India's biggest-ever overseas takeover with its $13 billion purchase of Corus this year, but Reliance's acquisitions -- such as Malaysian polyester maker Hualon for a reported $250 million this year -- have been of a far smaller scale. In 2005, it was linked to a possible bid for Innovene, oil major BP Plc's petrochemicals business, which was sold to British chemicals firm INEOS for $9 billion.

Other stories

ONGC Videsh OKs Hinduja tie up for Iran assets
Ukrain's NaftoGaz bags Rs 725-cr contract from ONGC
Reliance awarded another exploration block by Oman



Source: http://www.theeconomictimes.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. Blog is not responsible for any faulty information.

Gainers List: Rediff.Com

www.rediff.com


Top Gainers:


Company Group Prev Close (Rs) Current Price (Rs) % Change
+
Ispat Industries A 54.75 68.30 + 24.75
+
FDC Ltd. A 31.10 37.30 + 19.94
+
HMT Ltd. A 91.15 100.25 + 9.98
+
Syndicate Bank A 109.40 120.25 + 9.92
+
Tata Elxsi Ltd. A 258.75 284.30 + 9.87
+
GAIL India Ltd. A 439.80 481.85 + 9.56
+
Nestle India A 1,312.35 1,433.05 + 9.20
+
IndusInd Bank A 117.30 127.20 + 8.44
+
Neyveli Lignite A 244.70 264.85 + 8.23
+
Vijaya Bank A 79.85 85.90 + 7.58
+
Apollo Tyres A 41.75 44.90 + 7.54
+
Escorts Ltd. A 155.90 167.55 + 7.47
+
Dena Bank A 82.30 88.40 + 7.41
+
BASF India Lt A 252.10 269.30 + 6.82

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+
Broadcast Initiative B1 53.75 64.50 + 20.00
+
Kajaria Ceramics B1 29.25 35.10 + 20.00
+
Unity Infraprojects B1 710.70 852.80 + 19.99
+
JBF Industries B1 162.15 194.55 + 19.98
+
Anil Products Ltd. B1 86.40 103.65 + 19.97
+
Sahyadri Industries B1 53.60 64.30 + 19.96
+
Nandan Exim B1 4.06 4.87 + 19.95
+
AMD Metplast Ltd. B1 42.40 50.85 + 19.93
+
Visa Steel B1 46.45 55.70 + 19.91
+
Nahar Investments & B1 25.65 30.75 + 19.88
+

Maadhav Granite and B1 91.95 110.05 + 19.68
+
STL Global Ltd. B1 26.00 31.10 + 19.62
+
Circuit Systems (Ind B1 30.20 35.70 + 18.21
+
Harrisons Malaya B1 98.50 116.00 + 17.77
+
Aarti Ind. Ltd B1 30.85 36.25 + 17.50
+
Hind. Motor B1 42.85 50.25 + 17.27
+
Gwalior Chemical Ind B1 87.65 102.75 + 17.23
+
Garden Silk Mill B1 80.75 94.60 + 17.15
+
Zee News Ltd. B1 70.60 82.15 + 16.36
+
Mahindra Forgings Lt B1 240.00 276.40 + 15.17
+
Modipon T 70.55 81.00 + 14.81
+
Apar Industries B1 327.20 375.05 + 14.62


More List @http://money.rediff.com/money/jsp/daily_gainer.jsp



Source: http://www.rediff.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. Blog is not responsible for any faulty information.

Myiris, Money Control.Com Stories

Myiris.Com

Brokers Outlook: Fed meet next trigger for markets
Centre to launch New Fertilizer Investment Policies:Paswan
FM approves 16 FDI proposals worth Rs 6474.7 mn
GTL buy backs equity shares
EPIC Energy introduces GSM enabled REMS
Fortis Healthcare plans USD 500 mn investment

ONGC Videsh may strike alliance with Hinduja`s
Holcim increases stake in Ambuja Cements to 46%

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MoneyControl.Com

IOB, Escorts, HPCL are top picks for Dec: Experts
Reliance seeing $10-15 bn upstream acquisition
Hind Motors has target of Rs 65
Kingfisher-Deccan merger may be on the anvil
Will new midcaps be a part of tomorrow’s rally?
DLF plans mutual fund biz in India with Prudential

May up promoters' stake in key grp cos to 51%: Ratan Tata
Indian Overseas Bank can touch Rs 198-214: N Pillai
Chambal Fertilisers has target of Rs 102: Gujral
Oil space foray generates interest in Videocon
Welspun Gujarat can touch Rs 540: Anu Jain
Stocks to watch: Ispat,Tata Motors, Gail

Angel Broking bullish on Tata Steel, SAIL
WWIL surging higher on some corporate action
Videocon Ind may hive off power biz




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. Blog is not responsible for any faulty information.