The Indian markets turned red after positive opening as losses of 4% in index heavyweight Reliance Industries led to major decline. Oil & gas, technology and banking stocks were under pressure while some buying was seen in auto, metal and consumer durables.
Friday, March 18, 2011
Thursday, March 17, 2011
MindTree loses Japanese contract; stock slips 5%
The shares of MindTree declined by 5% and hit the 52-week low of Rs355, after the company lost contract from Japan based Kyocera. So far, 0.11 lakh shares have traded on the BSE as against the two-week average volume of 0.21 lakh shares.
Wednesday, March 16, 2011
2010 Global rebound makes Sensex’s day, ends 191 pts up
Things remained good in today’s trade as compared to the previous panic day. Sentiments improved led by positive global cues after recovery in Japanese stocks. Short covering after a sharp sell-off was witnessed today. Major support came in from realty, auto and banking stocks. However, some profit booking was seen in late trade at higher levels, which could be because of rising crude oil prices again, reacting to Middle East tensions.The Sensex closed at 18358, up 191 points from its previous close, and Nifty shut shop at 5511, up 61 points.
Tuesday, March 15, 2011
Siemens Healthcare merges with Siemens
Siemens Healthcare Diagnostics said today it has merged with Siemens with effect from March 14, 2011.
'With effect from March 14, 2011, company stands amalgamated with Siemens and the legal entity of the company stands dissolved without winding up,' Siemens Healthcare Diagnostics said in a filing to the Bombay Stock Exchange (BSE).It further added that the entire business and undertaking of the company gets transferred to and in the name of Siemens.
'With effect from March 14, 2011, company stands amalgamated with Siemens and the legal entity of the company stands dissolved without winding up,' Siemens Healthcare Diagnostics said in a filing to the Bombay Stock Exchange (BSE).It further added that the entire business and undertaking of the company gets transferred to and in the name of Siemens.
Tyre makers speed up on fall in rubber prices
Six tyre companies’ shares rose 2.65% to 11.50% on the BSE on fall in rubber prices.At 11.12 am, JK Tyre & Industries up 11.50%, Dunlop India up 7.79%, CEAT up 6.01%, Goodyear India up 4.62%, MRF up 4.14% and Apollo Tyres up 2.65%.The fall in rubber prices on Monday (March 14, 2011) to Rs185 per kilogram from Rs201 last week benefited the domestic tyre manufacturers like Apollo, Ceat and JK Tyres among others.A fall of over Rs16 per kilogram in a day will help companies improve their operating profit margins in the first and second quarter of next financial year.
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