SBI Deal Partially Stimulates Sensex’s Takeoff Afar 15,000

State Bank of IndiaThe BSE 30-share Sensex penetrated the sensitively important 15,000 mark during the afternoon trades.

At 13:36 IST, the Sensex was 74 points to 14,936. The benchmark index came across an all-time high of 15,007.22 at 13:21 IST

The Sensex took seven months to cover up this level from 14,000 to 15,000. On December 2006, the stock index hit 14,000 mark for the first time. On the contrary, it had taken just 26 trading sessions to reach the 14,000 level after it had first struck the 13,000 mark on 30 October 2006.

14 Athletes To Symbolize India At World Youth Athletics

5th IAAF World Youth Athletics ChampionshipNew Delhi: A total of 14 challengers will symbolize India at the in Ostrava, Czech Republic from July 11 to 15.

The group consisting six boys and eight girls, comprise three athletes from Delhi. They are Sahil Mahindra, Ajay Pal Singh and Ajaj Ahmed.

The selected team has three members from Kerala whereas two girl athletes are from Orissa for the girls' 4x400m relay. Uttar Pradesh, Punjab, Haryana, Maharashtra, Karnataka, and West Bengal have one representative each.

SBI Mutual Fund Achieves a new Milestone

SBI Mutual FundMumbai: SBI Mutual Fund has crossed Rs 20,000-crore mark in assets under management (AUM) as on 30 June, 2007.

According to a release the AUM of SBI MF stood at Rs 20,272 crore as on June 30 and it is placed sixth among existing fund houses. SBI Mutual funds Achieves Milestone

While commenting on the milestone achieved Syed Shahabuddin, Managing Director and CEO, SBI Mutual Funds stated, “SBI Mutual Fund's excellent run is a reflection of the fund house's ability to understand the needs of investors and introduce products suited to their needs.”

SBI MF has an investor base of over 35-lakh spread over 40 schemes.

Rangebound Movement Expected – Vishwas Agarwal

After touching a new high at the opening time on Thursday, the BSE Sensex closed the session at 14,861.89 after losing 18.35 points, whereas the broad based NSE Nifty ended the day at 4,353.95, down by marginal 5.35 points.

Vishwas Agarwal said the stock market once again broke down to reach the psychological 15,000 mark. Conservative buying and selling of stocks could take place in the nest trading session, but the same is likely to carry on.

Mr. Agarwal added that markets still are in bulls grip.

Equity Churn Pushes Up Dabur Pharma

Dabur India LimitedIn early trade, Dabur Pharma was trading up 1.51% to Rs 77.50 after 50 lakh shares changed hands in a single block deal at Rs 76 each on NSE.

The block deal of 50 lakh shares comprised 3.19% of Dabur Pharma's equity. The company has the equity capital of Rs 15.67 crore, with 15.97 crore outstanding shares having face values of Rs 1 each.

M&M Readies To Pass Through The Highway To Sensex

lifted 2.44%Mahindra & Mahindra to Rs 765 in afternoon trades on improved buying earlier than its entry into the BSE Sensex from 9 July 2007.

The scrip hit an intraday high of Rs 766 and an intraday low of Rs 747 during the day. On 16 January 2007, it touched a 52-week high of Rs 1002 and a 52-week low of Rs 495.10 on 24 July 2006.

As against the Sensex’ return of 2.38%, the Mahindra & Mahindra (M&M) stock slumped 0.81% over the last one month to 4 July 2007. The scrip had underperformed the market over the past quarter, benefiting 4.65% compared to the Sensex’s rise of 15.74%.

Market Heading Towards 15k Mark

After opening the day sturdily at 14,932.53, the BSE Sensex further touched a record high of 14,963.26 in the morning trades. It is on the way to the 15,000 mark. Stocks from auto, banking and cement led the advancements in the market.

In the initial sessions of trade, Asian stocks opened high after an increase was reported in the demand of computer chips and metals; joined by the growth in the metal prices that accordingly raised investors’ trust.

BSE Sensex Ends Optimistic After Scaling 15k Mark

Bombay Stock ExchangeAfter hitting a new historical mark of 15,007.22, the BSE Sensex, finally settled at 14,964.12 after gaining 102.23 points, whereas the broad based NSE Nifty ended the day at 4,384.85, up 30.9 points.

After opening negatively at 14,843.43, the BSE benchmark index continued to trade strongly for the whole day. The stock index touched the psychological level of 15,000 because of continued buying interest seen in index pivotals. Lastly it finished on a cheerful note. The selected stocks from IT, cement, auto and pharma were in the public interest.

DLF Among Highest 10 Co’s In M-Cap Chart

DLF GroupIn spite of its lackluster debut, DLF has got into the group of top 10 market-cap companies.

In early trade, DLF’s market capitalization was Rs 93719.71 crore. Ahead of ICICI Bank and State Bank of India (SBI), DLF emerges as the eight biggest Indian companies in terms of market capitalization.

DLF has also become the first realty business firm to enter the list of top 10 market-cap companies.

Cement Stocks On Firm Ground

Ambuja CementsFour cement majors climbed from 0.69% to 4.87% on reports that cement firms were boosting prices by Rs 3-Rs 5 per 50 kilogram bag across India effective today.

Ambuja Cements gained 3.90% to Rs 129.25, ACC 4.87% to Rs 984, Grasim Industries 0.69% to Rs 2723, and UltraTech Cement 3.47% to Rs 914.95. In addition to price increase, ACC’s strong dispatches in June 2007 just gone by aided the rally.

Allegations Against Me Are Baseless, Says Pratibha

Pratibha PatilNEW DELHI: Referring to the slew of allegations hurled against her, UPA presidential applicant  said that all allegations pointed against her were ‘motivated.’

In her initial official declaration after her nomination documents were found to be in order, Ms. Patil stated it was a “distinct honor” to be a applicant for the main office of the world’s prime democratic system.

India Ready To Provide Aid In UK Terror Plot Case

New Delhi: With involvement of two of its nationals being suspected in the failed terror plot in the UK, India on Tuesday said it would extend any assistance if asked for by investigators, but cautioned against reaching any conclusion if anyone was merely detained or questioned.

The Government stated the Indian High Commission in Canberra is abreast of the system in Australia where a doctor from Bangalore, Mohd Haneef, has been apprehended regarding last week’s terror plots of London and Glasgow.

Minister of State for External Affairs, Anand Sharma said, “India is committed to full international cooperation when it comes to act of (combating) terrorism. We will give any assistance if it is requested for (by Australia and Britain).”

SBI Will Soon Gain Rs 60-70 - Bhambwani

Technical AnalystState Bank of India, Vijay Bhambwani is of the view that one
should hold State Bank of India (SBI) stock as it can add another Rs 60-70
within the coming days.

SBI has been a great mover and shaker. It is good for
another Rs 60-70 before some quantity of profit taking can enter.

ACC Leads Stock Gainers

ACC cementToday, ACC climbed 8.98% to Rs 1022.55 and it topped the gainers list in BSE’s ‘A’ group shares. ACC’s cement dispatches stood at 17 lakh tonnes in June 2007, up 9.67% as compared to 15.5 lakh tonnes in the same period, last year. It made 17 lakh tonnes of cement compared to 15.3 lakh tonnes last year, a rise of 11%.

Today, the cement shares soared on reports that cement companies have increased prices by Rs 3-Rs 5 per 50-kilogram bag across India effective today, 4 July 2007.

Binani Cement Quarterly Earnings At Rs 506.7 Mln In Jun`07

Kolkata-basedBraj Binani Group cement manufacturer, Binani Cement has announced its quarterly results for the quarter ended June 30, 2007. It recorded net earnings of Rs 506.7 million on sales of Rs 1,956.2 million.

The company posted total income of Rs 1,974.1 million for the quarter, whereas its earning per share (EPS) stood at Rs 2.49.

It entered the capital markets in May 2007 with an initial public offering (IPO) of 20.5 million shares in the price band of Rs 75 to Rs 85 a share.

The share price of the company closed up Rs 2.55, or 3.80%, at Rs 69.60. The total volume of shares traded during the day stood at 363,178.

Plea Against Pratibha Dismissed

Pratibha PatilNew Delhi: Yesterday, the Supreme Court disapproved a public interest lawsuit appeal that sought abolition of the proposal of Pratibha Patil for the Presidential seat. The petition wanted Ms. Patil disqualified on the ground that she was facing up a criminal case and was also an undischarged insolvent. Noticing that the court cannot pursue mere accusations, a vacation Bench of Justices Tarun Chatterjee and P.K.

Market Touches A New Peak With Opening Bell

Bombay Stock Exchange
The 30-share BSE Sensex opened strongly at 14,868.14, and marched ahead to touch a record high of 14,906.93. Currently, it is trading in the positive.


The stocks from pharma led the advancements even as auto and banking sectors traded in mixed.
On the other hand, Asian markets also opened higher for the fifth consecutive day. The stocks climbed after a report indicated that the factory order decline in US is less than the expected, thus giving a boost to the stocks of Asian exporters.

According to Vishwas Agarwal, if Reliance Industries holds 1,710 level, a bombastic rally can be seen in the market.

Fund Raising Plan Pushes Up IDFC

After arriving at its all-time high, IDFC was trading flat at Rs 133.60 ahead of its plans to raise about $500 million through qualified institutional placement.
Today, the share price touched a high price of Rs 135.80. Its lowest peak during the day was Rs 132.2. On 24 July 2006, it had touched its 52-week low of Rs 43.35.
As against the Sensex’s return of 0.64%, the Infrastructure Development Finance Company (IDFC) scrip declined 16.07% over the last one month to 2 July 2007. The scrip had outperformed the market over the past quarter, making 71.17% compared to the Sensex’s augmentation of 16.16%.

IFB Industries Sparkles On Strong Q4 March 2007 Results

In afternoon trade, IFB IndustriesIFB Industries beat the upper route of 20% at Rs 27.65 on reporting a 1,143.27% increase in net profit in Q4 March 2007. The final results were declared during the market hours.
During the day, the scrip touched an intraday high of Rs 27.65 and an intraday low of Rs 26. On 3 November, it touched a 52-week high of Rs 29.95 and a 52-week low of Rs 14.50 on 4 April 2007.
The IFB Industries scrip gained 32.47% over the last one month to 29 June 2007 as compared to the Sensex’s return of 0.73%. Over the last one quarter, the company outperformed the market gaining 34.40% as compared to the Sensex’s admiration of 12.07%.

Himatsingka Seide Up On Buyout Plan

Himatsingka SeideTextile company, Himatsingka Seide came up 4.28% to Rs 122.95 in early trade on adopting 80% stake in US-based Divatex Home Fashions Inc.

The company’s share price hit an intraday peak of Rs 131.80 and an intraday low of Rs 123 during the day. The scrip touched its 52-week high of Rs 150 on 29 January 2007 and a 52-week low of Rs 86 on 24 July 2006.

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