Business Today
Sensex slips below 20,000
Indian stocks were trading lower on Monday, in line with the weakness in Asian markets. All the sector indices were in the red, with automobile and FMCG being weighed down the most.
Monday, October 18, 2010

3.30 pm: 
Indian markets pulled back smartly on Monday to end in the positive, after investors bought at lower levels. Sensex closed at provisional 20,200.40, gaining 75.35 points, or 0.37 per cent. The BSE 30-share index saw a high of 20,201.47 against a low of 19,870.51.
Index gainers included TCS (3.05 per cent), NTPC (1.89 per cent), ONGC (1.83 per cent), Tata Steel (1.83 per cent), L&T (1.30 per cent), Infosys (1.07 per cent) and DLF (1.06 per cent) among others.
Losers included ACC (2.96 per cent), Bharti Airtel (2.02 per cent), Tata Power (1.92 per cent), JP Associates (1.76 per cent), M&M (1.33 per cent), Cipla (1.21 per cent), Wipro (1.16 per cent) and Maruti Suzuki (1.09 per cent).

3.04 pm: 
The board of State Bank of Bikaner and Jaipur has approved raising of Rs 800-crore (inclusive of premium) equity capital through rights issue. On NSE, the bank's shares were up 2.28 per cent at Rs 752.50.

2.36 pm: 
Housing Development Finance Corporation  (HDFC) has reported a standalone net profit of Rs. 807.54 crore for the quarter ended September 30, against Rs 663.94 crore for the corresponding quarter of 2009. Net sales for the quarter was Rs. 2906.55 crore against Rs 2,783.54 crore for the same quarter last year. The board has reappointed Keki M Mistry as the managing director for a period of 5 years, with effect from November 14. On NSE, the company's shares were lower by 0.69 per cent at Rs 722.15.

2.00 pm:
Surana Telecom and Power has been allocated solar power project of 5 megawatt capacity from the Gujarat government in accordance with the provisions of Solar Power Policy. The project will be commissioned within a period of one year. On NSE, the company's shares shot up nearly 14 per cent to Rs 20.95. The stock touched a high of Rs 21.70 from a low of Rs 18.15.

1.53 pm:
Larsen & Toubro has posted standalone net profit of Rs 764.98 crore for the quarter ended September 30, higher from Rs 580.40 crore for the quarter to September 2009. Net sales stood at Rs 9,260.77 crore. On NSE, the company's shares were 0.8 per cent lower at Rs 1,972.95 tracking the weak market.

1.20 pm: 
Venus Remedies has secured patents from Australia and Ukrain for its research product "POTENTOX", which is a combination of Cefepime and Amikacin. The patents are valid until 2025. On BSE, the company's shares were up 1.48 per cent at Rs 315.70.

12.55 pm:
Lyka Labs factory at Ankleshwar has achieved record production for the month of September. On NSE, the company's shares were lower by 1.80 per cent at Rs 32.75.

12.30 pm:
Mcnally Bharat Engineering Company has received an order from Essar Projects (India) for supply of two stacker reclaimers for Jharkhand Power Projects for a total value of Rs 21.22 crore. Shares of the company were down 2.36 per cent at Rs 267.

11.32 am: S
teel Strips Wheels has received its first export order for the supply of truck trailer wheels rims from a West Asian customer. The supply shall be made from the Jamshedpur plant, inaugurated in July this year. On NSE, the company's shares were higher by 4.76 per cent at Rs 326.

11.22 am:
Madhav Marbles and Granites has considered and finalised buyer for the sale of its major capital assets, comprising land, building, plant & machinery and related stores and spares of Marble division situated at Udaipur, Rajasthan.On NSE, shares of Madhav Marbles were trading 1.05 per cent lower at Rs 37.80.

11.08 am:
Dredging Corporation of India's non-executives had gone on indefinite strike from October 11 for settlement of wage revision. The company said the management came to an understanding with the Union on October 15 and the non-executives resumed duty from October 16. On NSE, the company's shares were down 0.46 per cent at Rs 532.15.

10.36 am: Oil & Natural Gas Corporation Ltd has notified two more discoveries. The first is an exploratory well North Kovilkallappal-1 in the Cauvery Basin-Onland and the second in the well GS-KV-1, KG Basin-Shallow Offshore. On NSE, ONGC's shares were trading lower by 0.80 per cent at Rs 1,329.65.

10.29 am: Dr Reddy's Laboratories Ltd will be launching Lansoprazole delayed-release capsules (15 mg and 30 mg), a bioequivalent generic version of Prevacid delayed-release capsules, in the US market. The company's shares on the NSE were up half a per cent at Rs 1,593.15.

10.15 am: Reliance Industrial Infrastructure has reported a standalone net profit of Rs 6.67 crore for the quarter ended September 30, marginally up from Rs 6.47 crore for the quarter ended June 30. On NSE, the company's shares were down 1.02 per cent at Rs 866 after touching a high of Rs 890.

10.10 am: State Bank of India has a Medium Term Note Programme for $5 billion. The Offering Circular under the MTN Programme has been updated on October 14 with the audited financial data of the bank as on March 31 and has been filed with the Singapore Exchange. On NSE, the bank's shares were up 0.27 per cent at Rs 3,174.15.

9.53 am: The only gainers on the Sensex in opening trade were Reliance Industries (0.47 per cent) and State Bank of India (0.37 per cent).

9.50 am: Sensex losers included Bharti Airtel (-2.44 per cent), ACC (-2.36 per cent), ICICI Bank (-1.90 per cent), HDFC (-1.82 per cent), Wipro (-1.82 per cent), Tata Power (-1.74 per cent), Jaiprakash Associates (-1.72 per cent), Larsen & Toubro (-1.70 per cent), Tata Consultancy Services (-1.63 per cent), Hindalco (-1.34 per cent), ITC (-1.28 per cent), Reliance Infra (-1.25 per cent) and Tata Motors (-1.19 per cent).

9.38 am: Nifty down 29.85 points, or 0.49 per cent, at 6,032.80, but the NSE benchmark managed to hold above the 6,000 mark. The 50-share index opened the week higher at 6,112.75 against Friday's close of 6,062.65. The broader index later slipped to 6,014.45 from a high of 6,115.10.

9.15 am: Indian stocks were trading lower on Monday, in line with the weakness in Asian markets. All the sector indices were in the red, with automobile and FMCG being weighed down the most.
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