Sensex Gains 71 Pts; M&M, ACC Climb Up

The Sensex, which recovered smartly after a sharp decline from upper Sensex Gains 71 Pts; M&M, ACC Climb Up   levels, trading positively on account of good buying action witnessed in select blue chip stocks.

At 1:26 pm, the Sensex gained 71.07 points at 14,648.94 over its previous closing mark, while the broad-based NSE Nifty stood at 4413.55, up 17.20 points.

The major gainers in the Sensex were Mahindra & Mahindra (4.5%), ACC (3.15%), HDFC Bank (3.8%), ICICI Bank (2.6%), State Bank of India (2.4%) and Hindustan Unilever (2%).

BHEL, Grasim Industries, Maruti Suzuki, Reliance Infrastructure and Tata Motors are up by 1% - 2%. ONGC, NTPC, ITC, HDFC and DLF made slight gains.

Sterlite Industries lost 7.55% at Rs 576.70 due to sustained selling at the counter. Tata Steel declined over 4% at Rs 664.

The other losers’ included Tata Power, Reliance Industries, Ranbaxy Laboratories, Jaiprakash Associates, Infosys Technologies and Hindalco.

Hero Honda, Punjab National Bank, Unitech, BPCL, GAIL India, HCL Technologies, Power Grid Corporation and Ambuja Cements were the major gainers from the Nifty index.

Nagarjuna Construction Company Limited announced that it has pocketed four new orders worth Rs 443.50 crore. On this news, the stock gained 3.75% at Rs 134.15 now.

Godawari Power & Ispat Ltd informed that the company has got final nod from Government of India, Ministry of Environment & Forest for diversion of 106.60 hectare of Forest Land for Ari Dongri Iron Ore Mines in Bhanupratappur Forest Division in Kanker District of Chhattisgarh under section 2 of the Forest (Conservation) Act, 1980. On this, the company’s stock reached 214.80, up 2% over its previous closing price.

Aurobindo Pharma Limited has informed BSE that it has received final approval for Alendronate Sodium Tablets from the US Food and Drug Administration (USFDA). The stock moved up with a smart gain of 1.15% at Rs 306.