Stock Markets

Sensex Rises, Market Shows Positive Trend

Sensex Rises, Market Shows Positive Trend

The Sensex was high by 0.72% or 133.97 points at 18641.01 and the Nifty was high by 0.99% or 54.95 points at 5622.

Ambit Capital Head of Equities Saurabh Mukherjea said that he sense that Sensex with 18,000 points can be quite supportive to Indian market and suggested exposure to FMCG and pharma stocks.

“I would avoid exposure to rate sensitive at this point", he said. He said that the rates should be increased by 100 basis points in order to control inflation.

Rupee Traded Up in the Early Trades

Rupee Traded Up in the Early Trades

Rupee traded up slightly in the early trades, as euro was found steady. The rupee started by 3 paise high at Rs. 44.54/55 per dollar but came down to 44.59 in the day.

The European unit was steady on Tuesday. After its last session, it has jumped back to 1.4080 levels, has traded with greenback after falling to 1.4013 and also recorded a fall of 1.1365 against the Swiss franc a day before.

SKS Increases 20% for Two Day Streak

SKS Increases 20% for Two Day Streak

Shares for the SKS Microfinance have jumped 20% in the past two consecutive days. It is the country’s largest microfinance players having increased by 20% due to bourses. The stock has been growing in the past three trading sessions. Today, it has finally hit the upper circuit limit on both the Bombay Stock Exchange and National Stock Exchange during the government’s unveiling of a bill to tighten regulations in the microfinance sector.

Tecpro Systems has underperformed Sensex

Tecpro Systems has underperformed SensexLast year in December Tecpro Systems have listed itself on the bourses and since then it has underperformed and reported a fall of 41% in the Sensex during the period. Reports also suggest that in last five years company has recorded fantastic growth in sales and operating profits and last year only it has registered a strong financial performance.

RIL stock falls for fifth day in a row

RIL stock falls for fifth day in a rowOn Wednesday the CPM has said that there is another scam of CAG draft report on Reliance Industries Ltd (RIL).

There has been fall in the shares of RIL; on the BSE it slipped by 1.18 per cent to touch a month's low of Rs 890.10. The stock on the NSE went down by 1.24 per cent to a low of Rs 889.35.

Standard Chartered IDR seen heavy sell-off on Monday

Standard Chartered IDR seen heavy sell-off on MondayThe only IDR listed on the Indian stock exchanges is the Standard Chartered IDR (Indian Depository receipts) which has seen heavy sell-off on Monday due to no arbitrage opportunity. Its shares closed at17.53% down at Rs 94.55.

Infosys has given stock options worth Rs 50000 crore

Infosys has given stock options worth Rs 50000 croreAccording to the Infosys annual report for 2010-11, the company offered Rs 50,000 crore as stock options to its employees since its inauguration in July 1981.

N R Narayana Murthy founder of Infosys had initiated Infosys in 1981 after borrowing Rs 10,000 from his wife as its base capital.

N R Narayana Murthy said that since Infosys is a private company and has cumulatively earned this amount so the employees were given these shares.

Sebi mulls new incentive structure for MF agents

Sebi mulls new incentive structure for MF agentsLast week, market regulator Sebi requested mutual funds to provide it with details of whatever has been done by them in order to better corporate governance. This comes after a circular that was published in the March issue of last year, which requested all the AMCs to frame certain guidelines for the exercise of voting rights in their possession, by means of their stock ownership.

Sebi asks mutual funds for actions taken for improving corporate governance

Last week, markets regulator Sebi requested mutual funds to provide it with details of whatever has been done by them in order to better corporate governance. This comes after a circular that was published in the March issue of last year, which requested all the AMCs to frame certain guidelines for the exercise of voting rights in their possession, by means of their stock ownership. Initially, the mutual funds appear likely to add a significant voice to questions regarding corporate governance standards of companies where investments have been made by them.

IDBI Bank Q4 net up 62%

IDBI Bank Q4 net up 62%In Q4 ended March 31, 2011 IDBI reported a rise in net profits by 62.13% at Rs 516.25 crore.

During its filing to the Bombay Stock Exchange (BSE), IDBI reported that in the same quarter last year, the company reported net profit of Rs 318.41 crore.

The company further said that its annual profit ended on March 31, 2011 is Rs 1,650.32 crore against Rs 1,031.13 crore in the same period year-ago.