Sensex exhibits strength, eyeing all time high: Chandra Prabhu International Ltd hits the buyer freeze: Simmonds Marshall Ltd should gain from the appreciation of Indian rupee as it imports more than exports. The company's share at the CMP is trading at attractive valuations. WIth EPS of more than Rs.9, and book value of around Rs.31, where can u find an auto-ancilliary company with such fundamentals??

The market was showing strength at higher levels in mid-afternoon trade, after initial weakness as buying continued for index pivotals. The benchmark BSE 30-share Sensex was confortably trading above the 15,600 mark. At 12:34 IST, the Sensex was up 68.18 points to 15,632.78. It opened lower at 15,560.57 and slipped to a low of 15,477.91 in early trade tracking weak global equities. But it started advancing from here to hit a high of 15,638.01 at 12:01 IST as buying resumed. It is very near to its all time high of 15,683.03 hit on 20 July 2007. The total turnover on BSE amounted to Rs 2276 crore compared to Rs 1,499 crore by 11:30 IST The market breadth was positive as buying continued in small- and mid-cap stocks. About 1,355 shares advanced on BSE as compared to 1,142 that declined, while 73 remained unchanged Among the Sensex pack, 20 advanced while the rest declined Domestic pharma major Cipla was the top loser from the Sensex pack. It shed 4% to Rs 192.90, on 16.39 lakh shares after posting a 30% drop in net profit to Rs 120 crore in Q1 June 2007 over Q1 June 2006. Net sales rose 5% to Rs 902 crore in Q1 June 2007 over Q1 June 2006 on the back of growth in active pharmaceutical ingredient (API) exports business. The results were announced on 21 July 2007. Infosys Technologies extended fall, and was now down 2.42% to Rs 1938 after both the companies, Infosys and Capgemini, denied rumors of Infosys mulling the acquisition of aquiring Capgemini. ICICI Bank dipped 1.36% to Rs 972 despite posting a 25% rise in net profit in Q1 June 2007 to Rs 775.08 crore over Q1 June 2006, riding on increased fee-based income and retail lending. Total operating income rose 46.9% to Rs 9,281.42 crore in Q1 June 2007 over Q1 June 006. Fee income increased 35% to Rs 1,428 crore in Q1 June 2007 over Q1 June 2006. ICICI Bank’s net interest margin (NIM) stood at 2.3% compared with 2.5% in Q1 June 2006. Net non-performing assets increased 112% to Rs 2,742 crore in Q1 June 2007 over Q1 June 2006 as high interest rates hit the bank’s retail borrowers. Net interest rose 16% to Rs 1,714 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 21 July 2007. Engineering & construction major L&T galloped 3.75% to Rs 2,565, after striking an all-time high of Rs 2,575. It was the top gainer from the Sensex pack, with 2.12 lakh shares changing hands. State-run engineering major Bhel also surged 3.71% to Rs 1,709. Hindustan Unilever (HUL) jumped 3.69% to Rs 201.50 after its parent announced after market hours on 20 July 2007 it is considering a plan to buy its own shares on 29 July 2007. HUL will also declare financial accounts for the second quarter and half year ended 30 June 2007 on that day. State-run oil exploration major ONGC gained 1.48% to Rs 900 after the company said that it may have to shoulder lesser burden of fuel subsidies with the government agreeing to consider exchange rate losses while calculating the subsidy burden the upstream oil companies have to bear. Every one rupee appreciation against the dollar results in revenue loss of about Rs 900 crore to ONGC. Index heavyweight Reliance Industries (RIL) was up 0.88% to Rs 1905, after reports that it may seek foreign partners for its deep water exploration blocks off the country's east coast. Reports indicated that global oil firms, including Chevron have shown interest in partnering Reliance for its Cauvery assets. The market is expected to stay choppy in the near term ahead of expiry of July 2007 derivatives contracts on Thursday, 26 July 2007. The total open interest in NSE’s F&O segment increased to an all-time record of Rs 94,041.37 crore on Friday, 20 July 2007, from Rs 89,173.11 crore on the previous day. Fulford India jumped 4.23% to Rs 547 after Reliance Capital Trustee Company on account of Reliance Pharma Fund acquired 63,100 shares of the company at Rs 525 per share on 20 July 2007 from Mr Azim Premji UTI Bank dipped 2.19% to Rs 635 after it priced its GDR issue at a discount to the ruling market price. It announced before he market hours today, 23 July 2007 that it has successfully priced its offering of 14.13 million GDRs, aggregating $ 218.07 million. Each GDR, representing one underlying share, was priced at $15.43 and will be listed on the London Stock Exchange. This represents a discount of 1.7% to the closing price of the Bank's GDR on 20 July, 2007. In addition, the bank has determined the issue price of the equity shares to be offered in the proposed qualified institutional placement (QIP) to be Rs 620 per share. The size of the QIP will be Rs 1,752 crore. Jindal Drilling & Industries jumped 6.60% to Rs 817 after scheduling a board meet on 30 July 2007 to consider stock-split. The board will also consider the unaudited financial results for Q1 June 2007 on that day. Asian indices edged lower today, 23 July 2007, after a sharp fall on Wall Street on Friday, 20 July 2007. Japan's Nikkei tumbled 1.34% to 17,914.03. Hong Kong's Hang Seng (down 0.12% at 23,264.09) and Singapore's Straits Times (down 0.26% at 3,642.06) edged lower. However, China's Shanghai Composite jumped 3.30% to 4,192.42, even as the central bank raised borrowing costs, effective Saturday, 21 July 2007, in the latest of a series of moves aimed at capping inflation and preventing the world's fourth-largest economy from overheating. Shares on Wall Street declined sharply on Friday, 20 July 2007, retreating from record levels following disappointing results from long-time favorites Caterpillar Inc. and Google Inc. The Dow fell 149.33 points, or 1.07%, to 13,851.08. Broader stock indicators also lost ground. The S&P 500 index fell 18.98 points, or 1.22%, to 1,534.10, and ended the week 1.19% lower. The Nasdaq Composite index fell 32.44 points, or 1.19%, to 2,687.60 As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 1155.93 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 344.48 crore on Friday, 20 July 2007.