The market ended with small gain as buying continued at higher levels. Shares from auto, metal and sugar sector witnessed buying interest. BSE Sensex rose 29.55 points (0.21%) to 13874.33, which is an all time closing high. The Sensex opened with an upward gap at 13846.71 as buying continued following 148 point surge on Friday (1 December) and moved to an all time high of 13912.54. It hit a low of 13828.90. The S&P CNX Nifty rose 3.40 points (0.09%) to 4001, an all time closing high. It had advanced to an all time high of 4015.25 in intra-day trade. The total turnover on BSE amounted to Rs 4808 crore boosted by two block deals of 20.09 lakh shares each struck in ICICI Bank counter in the institutional segment at an average rate of Rs 884 per share. The Sensex has gained 242.83 points or 1.79% in the past four days from 13601.95 on 28 November. The barometer index is up 47.82% for the calendar year 2006 on the back of sustained inflow from FIIs, backed by robust corporate earnings. Market breadth was strong today. 1462 shares advanced on BSE as compared to 1090 that declined. 81 shares remained unchanged. The BSE Small-Cap index rose 58.10 points or 0.9% to 6,776.84 while the BSE Mid-Cap index gained 43.53 points or 0.75% to 5,818.95 Among the Sensex pack, 16 advanced while the rest declined. Tata Motors was the top gainer, up 3.64% to Rs 873.55 on 7.02 lakh shares. It had surged to an intra-day high of Rs 887.20. Tata Motors’ vehicle sales rose 43% in November to 49,061 units compared with the same month a year ago. Sales of commercial vehicles rose 46 percent to 25,793, while sales of cars rose 48% to 19,475, helped by a surge in sales of its Indica model. Exports rose 9.6% to 3,793 units. Its ADR surged 5% on Friday on NYSE. Reliance Energy (REL) (up 3.30% to Rs 558), NTPC (up 2.67% to Rs 152) and Bhel (up 2.53% to Rs 2584) were the other gainers. Cement maker ACC rose 3.25% to Rs 1169 as investor’s bet that the recent cut in diesel and petrol prices will bring down transportation costs for cement firms. The company reported 2.7% growth in cement dispatches for November 2006 to 1.52 million tonne. Dispatches in the 11-months period January-November 2006 rose nearly 7% to 16.98 million tonne. L&T gained 3.24% to Rs 1423.55 on reports that the company is planning to foray into arms and ammunition to widen its defense equipment portfolio. The company will initially manufacture small arms and later graduate to ammunition, including explosives. L& T is also in talks with two European companies for a technological tie-up in this field. Index heavyweight Reliance Industries rose 0.24% to Rs 1264 on 5.62 lakh shares. The company has restarted a fire-damaged hydrotreater unit at its Jamnagar refinery in Gujarat on 1 December. The unit had been shut since a fire on 25 October. Reliance had said in November that no major equipment had been damaged in the fire. HDFC Bank was the top loser, down 1.84% to Rs 1100 on 2.66 lakh shares of which 2.40 lakh shares came through a block deal which was executed at Rs 1100 per share on BSE at 13:00 IST Wipro (down 1.77% to Rs 590.25), Hero Honda (down 1.51% to Rs 760) and Satyam Computers (down 1.47% to Rs 460) were the other losers. Parsvnath Developers was the second highest traded counter on BSE with total turnover of Rs 301.80 crore followed by Era Construction (Rs 129.35 crore) and Unitech (Rs 103.84 crore). United Breweries advanced 9.40% to Rs 199.05 after a block deal of 10 lakh shares was struck on the counter at Rs 190 per share on BSE by 11:42 IST. Sugar stocks surged on reports that Indonesia will buy as much as 2,00,000 tonnes of white sugar by March 2007 to ensure supplies to keep a check on prices and control inflation. Indonesian sugar production is expected to reach 2.3 million tonnes this year, which is 7% lower than an initial target. Bajaj Hindustan (up 4.51% to Rs 247), Balrampur Chini Mills (up 9.34% to Rs 89), Bannari Amman Sugars (up 1.56% to Rs 810), Dhampur Sugar Mills (up 12.10% to Rs 95.40), Oudh Sugar Mills (up 8.50% to Rs 103.35), Mawana Sugar (up 5.46% to Rs 56.95), Shree Renuka Sugar (up 6.96% to Rs 532), Sakthi Sugar (up 13.06% to Rs 116) and Triveni Engineering (up 4.43% to Rs 58.90) surged. Among the side counters, Media Video surged 20% to Rs 50.60 after its board approved spinning off the firm's real estate division. Mahindra & Mahindra rose 0.42% to Rs 744 after its total automotive sales for November rose 11.5% to 13,600 units. Its tractor sales rose 12.4% to 7,987 units. Jewellery maker Rajesh Exports jumped 10% to Rs 258.70 after the firm said it had formed an equal joint venture with US-based watch designer Fossil Inc. with an investment of Rs 25 crore to make watches and sell jewellery. Steel pipe maker Welspun Gujarat Stahl Rohren surged 3.15% to Rs 91.65 on high volumes of 60.43 lakh shares after three block deals of 5 lakh shares each were struck on the counter at an average price of Rs 86.60 per share in opening trade on BSE. Sterlite Industries rose 5.12% to Rs 586.25 after the company said on Monday it has commissioned an aluminium smelter with an annual production capacity of 2,45,000 tonnes. K Sera Sera Productions jumped 6.35% to Rs 31 after it agreed to buy 80% of Lemon Entertainment, from Lemon's founders. Lemon Entertainment runs Lemon TV channel. Helicopter operator Global Vectra Helicorp advanced 7.37% to Rs 202.60 boosted by reports that the government proposes to raise FDI limit in helicopter firms and in non-scheduled airline operations to 74% from 49%. Essar Shipping soared 9.09% to Rs 30.60 after its board of directors on Saturday approved delisting of the company’s shares from the Bombay Stock Exchange. The company would seek shareholders` approval next month for this purpose. It was recommended by me at Rs.25.5 in August 2006 when most of the analysts were Bearish on the India Bourses. This is the power of holding any scrip in the medium to long run. Havells India rose 1.71% to Rs 339 after the company said it is entering into a collaboration agreement with a leading European motor manufacturing company for its new project of electric motors at Nimrana, Rajasthan. Thomas Cook advanced 2.10% to Rs 573 after the company said on Friday it would acquire 100% stake in Travel Corporation of India (TCI) for about Rs 182 crore. The company said that TCI acquisition is aimed at boosting inbound travel services segment of Thomas Cook's offerings. TCI has 11 offices abroad. Action Construction Equipment jumped 5.57% to Rs 386.85 after it said it has applied for incorporation of overseas wholly owned subsidiary in Cyprus in the name of Frested, for overseas investment. The Nikkei average fell 0.11% on Monday as exporters such as Honda Motor Co. Ltd. fell on a strong yen while investors flocked to domestic demand-related issues such as property and consumer finance stocks. The Nikkei shed 18.19 points to close at 16,303.59 Hang Seng index rose 11.91 points (0.06%) to 18,702.73 Oil prices gained slightly Monday as fresh comments from key OPEC members over the weekend suggested the oil cartel would push for further cuts in output at its next meeting later this month. Light, sweet crude for January delivery rose 2 cents to $63.45 a barrel on the New York Mercantile Exchange. The latest data showed FIIs resumed buying after two-day outflow. FIIs bought shares worth a net Rs 258.10 crore on Thursday 30 November while Mutual funds sold shares worth a net Rs 88 crore on that day. US stocks fell on Friday after a manufacturing index showed its weakest reading in more than three years and a Federal Reserve official said more rate hikes may be required to control inflation. The Dow Jones industrial average fell 27.80 points, or 0.23%, to 12,194.13, while the Standard & Poor's 500 Index dropped 3.92 points, or 0.28%, to 1,396.71. The Nasdaq Composite Index sank 18.56 points, or 0.76%, to 2,413.21. [From Internet] My Addition: Keep Holding and adding Soma Textiles Ltd, Chandra Prabhu International Ltd., Gravity(I) Ltd and Samkrg Piston & Rings Ltd. Today ABC India Ltd moved up with good volume. Some movements were also seen in Roto Pumps Ltd Try to enter good textile counters. Do not enter in Arvind Mills as it is in a virtual mess. There are someother good counters also. The textile sector gets hot in the 3rd and 4th quarter every year. So wait for some good news from the textile front in the following quarters. Soma Textiles is a very good counter in all respect. So go on accumulating. I will be recommending another stock within this week so keep the cash ready. More in the followin posting... Best wishes, Suman Mukherjee India. www.pkblogs.com/sumanspeaks
Discrimination faced by Mumbaikars...
If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.