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INDICES:
Sensex +31 at 16183 (0.19%), NIFTY +15 at 4906 (0.3%), CNXMIDCAP +36 at 6903
(0.52%)
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SECTORAL
PERFORMANCE: BANKEX 1.08%, AUTO 0.48%, CAPITAL GOODS
1.96%, HEALTHCARE 0.28%, Metal 0.4%, OIL & GAS 0.52%, IT -1%, FMCG -1.17%,
PSU 0.64%, REALTY 1.9%, Consumer Durables 0.03%, POWER 1.27%
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MARKET
BREADTH: 327 Advances, 167 Declines (BSE 500)
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VOLUMES: BSE $0.28bn
(-22.39%), NSE $1.42bn (-24.72%), F&O $17.85bn (-37.58%)
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TODAY'S
GAINERS: TPWR 5.23%, RELI 3.89%, MSIL 3.61%, SBIN 3.55%, RPWR 3.2%
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TODAY'S
LOSERS: WPRO -2.06%, ITC -1.96%, INFO -1.78%, HUVR -1.35%, ACC -1.28%
MARKET COMMENTARY:
Frontline India indices looked set to end another day
with pairing off gains and closing flat towards the close as the Indian benchmarks
continued to be besieged by a sliding rupee, which touched an all-time low
against the dollar today for a fourth consecutive day. Key benchmark indices
were range bound in early afternoon trade. On global front though a statement
from G8 leaders after a summit over the weekend boosted sentiment but could not
hold on to the gains. G8 leaders over the weekend backed keeping Greece in the
euro zone and vowed to take all steps necessary to combat financial turmoil
while revitalizing a global economy increasingly threatened by Europe's debt
crisis. Most Asian
stock indices were trading higher on Monday after Chinese Prime Minister Wen
Jiabao said that China will focus more on policies that boost economic growth. Back
home the 'White Paper' on black money was tabled in Parliament on Monday by
Finance Minister Pranab Mukherjee, The White Paper said that Vodafone tax case
provides instance of misuse of corporate structure to avoid payment of taxes. Sustained buying was visible
in the capital goods, realty and banking stocks. The country’s largest lender
State Bank of India moved up further, rising 4 percent after reporting better
than expected net profit of Rs 4,050 crore for the fourth quarter of financial
year 2011-12 as against Rs 21 crore in a year ago period. Its competitors ICICI
Bank and HDFC Bank were up 1 percent and 0.5 percent, respectively. The Realty
sector stocks also witnessed renewed buying interest. Moreover, the broader
indices were going neck to neck with while the market breadth which was
slightly positive.
NEWS ON TODAYS MOVERS:
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Tata Steel fell traded flat with gains of nearly
0.70% despite the company consolidated
net profit plunged 89.63% to Rs 433 crore on 0.5% growth in turnover to Rs
33999 crore in Q4 March 2012 over Q4 March 2011. But showed a strong sequential performance in Q4
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State Bank of India rose 3.55% , extending
Friday's 5.08% rise triggered by strong Q4 March 2012 results.
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Reliance Capital jumped 7.96%, after the
company reported a consolidated net profit of Rs 329.32 crore in Q4 March 2012
compared with a net loss of Rs 6.46 crore in over Q4 March 2011.
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JSW Steel rose 1.95%, after the company said
its crude steel production grew 35% to 7.15 lakh tons in April 2012 over April
2011.
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Aviation companies rose 1.93%, as oil
companies cut jet fuel prices recently, the third straight reduction in rates
since April 2012
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Larsen & Toubro rose 2.68%, after the
company said L&T Construction has bagged new orders worth Rs 744 crore
during the first quarter of 2012-2013.
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Bhel rose 2.99%, after the company bagged a
contract for supply and installation of electrostatic precipitator package for
2x660 megawatts Solapur super-critical thermal power project in Maharashtra.
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Jain Irrigation Systems traded flat for the
day despite of company announcing a JV , partnering with G8 and various African
nations company has committed investment and project of $375 million over the
next few years to build sustainable agriculture and to improve income of small
holder farmers in Sub-Saharan Africa.
CORPORATE NEWS:
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BHEL bags contract from Solapur power project
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Adani Enterprises Q4 cons net profit at
Rs309.45 cr
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Chettinad commissions cement plant in
Karnataka
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H&R Johnsona division of Prism Cement, to
invest Rs225 crore this fiscal
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JSW Steel crude steel production grew 35%
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Uflex eyes 60% growth in net profit this
fiscal
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Moser Baer to restructure Rs1,800 crore term
debt
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Tata Steel Odisha plant to be ready by next
fiscal
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L&T Construction bags orders worth Rs744
crore
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SBI extends gain on healthy Q4 earnings
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Ranbaxy to re-launch skincare brand Sotret in
US
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RIL, HFCL tie up for 4G launch
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CCI clears 3 state oil firms of cartelisation
charges
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FDC board to consider Buy-back of shares
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Dr Reddy's launches much-delayed acidity drug
in US
ECONOMIC NEWS:
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India's policies have dampened investment
climate: US envoy
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White Paper for setting of Lokpal to deal
with black money
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Banking Laws to be tabled in parliament today
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Cabinet to consider FDI in aviation proposal
soon
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India April service tax rises 35.6% to 88.5
bln rupees
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India April excise tax grew 17.8% to 126 bln
rupees
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India April customs tax revenue fall 8.8% to
115.9b rupees
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India April indirect tax revenue rises 10% to
330.4b rupees
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