Indian shares provisionally close up 1.4 pct

MUMBAI, April 5 (Reuters) – Indian shares tested their highest levels in more than 25 months and provisionally closed 1.4 percent higher on Monday, with firm Asian equities supporting the gains.

Financials

The 30-share BSE index .BSESN provisionally ended up 1.36 percent or 241.32 points at 17,933.94 points, with 24 components gaining.

The 50-share NSE index provisionally closed up 1.5 percent at 5,369.75 points. (Reporting by Ami Shah; editing by Malini Menon)

Government accused of beef backflip

The Federal Government has been accused of backflipping on its decision to import beef from countries which have had cases of BSE, or mad cow disease.

Last week the Government lifted the nine-year ban on beef imports from countries which had seen cases of BSE.

But yesterday the Government announced it was reversing its decision, keeping the ban in place but bringing in a two-year analysis period.

Agriculture Minister Tony Burke says public opinion forced him to change his mind.

“The strength of public opinion has come directly to me. It has come very strongly through a number of caucus colleagues, Labor backbench members of Parliament, and it has also come very strongly through the media as well,” he said.

Mr Burke says that for the next two years, scientists will carry out a full import risk analysis to determine what protocols should be used for safely importing beef.

“First of all we have got formal timetables, secondly we have a formal process for community consultation and thirdly the Eminent Scientists Group is involved in the decision-making process,” he said.

Mr Burke says the Government’s backflip on the decision is not a victory for the Opposition.

“I think whenever you’ve got a government decision that is involving a higher level of community involvement, and whenever Government is taking notice of strength of opinion within the community, I fail to see how that does anything other than reflect well on us,” he said.

But the Nationals’ deputy leader in the Senate, Fiona Nash, says the move shows the Government is behind in its decision making.

“If the Government were on the ball they would have listened to the Australian people long before now,” she said.

“Tony Burke is certainly playing catch up. Yet another backflip. But certainly the people of Australia would be pleased to see the proper process put into place to determine whether or not this beef should come in.”

Liberal Senator Bill Heffernan had also feared the decision jeopardised Australia’s disease-free status.

“We have the world’s cleanest, highest status for food production, and this decision [to lift the ban] concedes to the rest of the world that that doesn’t matter for trade purposes. It is absolutely an outrageous decision,” he told AM two weeks ago.

But not everyone is pleased with the reversal of the decision.

The Cattle Council of Australia supports lifting the ban on beef imports, fearing countries like the United States will not buy Australian beef if they cannot also sell in Australia.

Cattle Council president Greg Brown, who is also a far north Queensland beef producer, says the ban closes off the market.

“We are concerned about the two-year period which means that nobody – particularly our major trading partner, the United States – will be able to access this market in all that time,” he said.

For now it is status quo. There will be no British beef in Aussie pies and steaks will not come from Texas.

Mr Burke says the two-year analysis is not a way of sweeping the issue under the carpet. And he says any future decision will be based on science.

“If the science says there is a danger to community health then nothing comes in,” he said.

“If the science says there is a way of bringing in food safely, then you allow the market to work.”

Sensex breaches 16,000 mark

Mumbai, Sep 7 (ANI): The Sensex of the Bombay Stock Exchange (BSE) gained 325 points to reach 16,014 on Monday.

Markets have surged higher in the second half with the NSE Nifty has surging past the 4750 mark to reach a 52 weeks high and the BSE Sensex has also surged past the 16000 levels.

Accept ITC and Mahindra and Mahindra all the other companies gained from today’s transaction.

Among the major gainers were ICICI Bank, Reliance Industries, L and T, Bharti and HDFC. (ANI)

Nifty touches 52 weeks high, telecom, ifra sectors gain

Mumbai, Sep 7 (ANI): The Nifty of the National Stock Exchange (NSE) touched a 52-week high of 4743.75 on Monday following early trends of good purchasing in all Asian markets.

Earlier, during the intra-day the Nifty registered the high of 4737.20 and low of 4679.30.

Indian markets were well-poised Monday taking cues from the positive global markets as all the sectoral indices were up, led by gains in realty, metals and auto stocks.

According to the market analysers, the US markets closed up and other Asian markets are positive.

Asian stocks rose for a third day, led by finance and technology companies, as the G-20 nations agreed on steps to shore up the global financial system.

The Sensex of the Bombay Stock Exchange (BSE) was at 15862.98, up 173.86 points the 30-share index touched a high of 15877.12 and low of 15793.27.

Amongst the sectoral indices, BSE Realty Index was up 2.13 per cent, BSE Metal Index moved up 1.60 per cent and BSE Auto Index gained 1.30 per cent.

BPCL 6.28 percent, Reliance Communications 3.36% percent, TCS 2.56 percent, Tata Motors 2.30 percent and Reliance Capital 2.20 percent were amongst the Nifty gainers. (ANI)

Aban Offshore | Aban Offshore bags 3371 Crore Rig Deployment Deals

Aban Offshore | Aban Offshore bags 3371 Crore Rig Deployment Deals

Oil exploration services provider Aban Offshore today said it has secured two deals worth Rs 3,371 crore for supplying rigs.

The company has signed a contract worth $603 million (Rs 2,925 crore) for the deployment of three newly build jack-up rigs (from the deep driller series) in the Middle East, Aban Offshore said in statement to the Bombay Stock Exchange (BSE).

The company is expects to earn a revenue of about $92 million (Rs 446 crore) from this contract, it said.

The deployment period of rigs is for three years each, it added.

The firm has also entered into a deal for the deployment of a new build jack-up rig in Latin America for a period of 25.5 months.

The deployment of rigs in both the deals is likely to commence in the third quarter of 2009, the offshore services provider said.

However, the company did not disclose the identity of parties with whom it has entered into the deals.

Shares of Aban Offshore today closed at Rs 1,210.45 down 0.47 per cent from its previous close on the BSE.

- Business Standard.

Sensex dips below 15K level during opening trade

Mumbai, Aug 21 (ANI): The Bombay Stock Exchange (BSE) benchmark Sensex fell by 162 points to below 15,000 levels in opening trade on Friday.

The 30-share index fell to 14,850.51 in the first five minutes of trade. On Thursday, it had gained nearly 202 points.

The National Stock Exchange (NSE) index Nifty fell by 52.55 points, to 4,400.90 points. (ANI)

Glenmark Pharmaceuticals | Glenmark Pharma | Glenmark Pharmaceuticals Share Price | Glenmark Pharma Share Price

Glenmark Pharmaceuticals | Glenmark Pharma | Glenmark Pharmaceuticals Share Price | Glenmark Pharma  Share Price

Drug major Glenmark Pharmaceuticals on Wednesday plunged over 10% on the Bombay Stock Exchange (BSE), a day after a GSK unit filed a patent infringement lawsuit on the company’s subsidiary Glenmark Generics Inc in a US District Court.

Shares of Glenmark Pharmaceuticals plunged 10.60 % to Rs 233.85 on the BSE while the scrip plunged to a low of Rs 215, down 17.79 per cent on the NSE.

For more such Stock Market and Financial News visit http://buzzingstock.in

Natco Pharma – Natco Pharma Results 2009 – Natco Pharma Q1 Results 2009 – Natco Pharma net rises 46% to Rs 8 crore

Natco Pharma | Natco Pharma Results 2009 | Natco Pharma Q1 Results 2009 | Natco Pharma net rises 46% to Rs 8 crore

Hyderabad-based Natco Pharma’s net profit grew 45.7% to Rs 8.1 crore during the quarter ended June 30, 2009, against Rs 5.5 crore in the corresponding quarter of the previous year.

The total income of the company rose 10.1% to Rs 50.9 crore from Rs 46.2 crore in the same period last year.

The company said its earnings have been spurred by contribution from its US retail and domestic oncology businesses.

For more such FInancial and Stock Market News visit http://buzzingstock.in

India Inc. disappointed with Mukherjee’s budget for 2009-10

New Delhi/Mumbai, July 6 (ANI): India Incorporated on Monday reacted with disappointment to the proposals for Budget 2009-10 introduced by Union Finance Minister Pranab Mukherjee.

It said that Mukherjee had remained silent on key points like the revamp of fuel policy, corporate tax, and the disinvestment roadmap.

The Bombay Stock Exchange (BSE) benchmark Sensex suffered the biggest fall on any Budget day and in the year too by plunging over 869 points on the BSE on concerns at the high fiscal deficit (6.8 percent) set by the Union Budget.

The Sensex, which started coming down soon after the announcement of budgetary proposals, dipped below the 14,000-point level before closing 869.65 points down at 14,043.40, surpassing the hefty fall of 749 points on January 7.

The key index had touched the day’s low of 13,959.44 as all the heavyweight stocks led by Reliance Industries suffered a heavy loss 6.53 per cent. Besides the fiscal deficit, trading sentiment also affected as European stocks dipped to a seven-week low on worries that economic recovery might still be far way off. The 50-share National Stock Exchange index Nifty also tumbled by 258.55 points to 4,135.70, after hitting the day’s low of 4,133.70.

Banking sector stocks suffered the most, losing 8.17 per cent to 7,768.63, as ICICI Bank tumbled by 10 per cent and HDFC Bank by 5.88 per cent among lenders as the Budget did not have measures to open up the industry and on concerns that the borrowing plan will reduce the value of bond holdings, brokers said.

Apart from the fiscal deficit, the other worry for captains of industry was the hike in Minimum Alternate Tax from ten to fifteen percent.

The Nifty also gave a thumbs down to the budget announcements.

Mukherjee left the corporate tax, customs and excise duty structure unchanged. He abolished the Fringe Benefit Tax which was the bugbear of the industry. Also, the deadline for Corporate India’s demand for a rollout of Goods and Services Tax has been set as April 2010.

He left the Securities Tax unchanged but scrapped the Commodities Transaction Tax. (ANI)

BSE crosses 15,000 points ahead of budget presentation

New Delhi, July 6 (ANI): Bombay Stock Exchange (BSE) crossed 15,000 points on Monday as investors built positions ahead of presentation of general budget.

Following the trends of the BSE the National Stock Exchange (NSE) also gained 14 points on the opening day.

Infrastructure stocks were in the limelight on Bombay Stock Exchange (BSE) expecting the budget would offer sops to the infrastructure sector.

BSE’s Sensex was trading at 14989, higher by 76 points while National Stock Exchange’s (NSE) Nifty climbed 14 points to 4435.45.

The budget is expected to allocate more to water, power, rural employment, and defense sectors. Export sector, especially the textiles and jewellery is expected to get a package from this budget. There will be more deduction for housing and taxable income levels may be raised.

Other Asian stock markets declined as commodity prices suffered. The Nikkei was down 1.44 per cent, Topix lost 0.92 per cent, Hang Seng fell 0.77 per cent and Straits Times shed 0.78 per cent. (ANI)

BSE makes replacement in mid-cap and small-cap indices – Stock replacements in BSE Mid-cap Index – Stock replacements in BSE Small-cap Index

BSE makes replacement in mid-cap and small-cap indices – Stock replacements in BSE Mid-cap Index – Stock replacements in BSE Small-cap Index

The Bombay Stock Exchange (BSE) said that it has decided to make replacements in both its Mid-Cap and Small-Cap indexes as a part of its periodic analysis, reports Business Standard.

The revisions will come into effect from July 13.

The five firms to be excluded from the BSE Mid-Cap index are Advanta India, Lakshmi Overseas Industries, Shah Wallace & Company, Shrishti Infrastructure Development Corp and Zee News.

The new inclusions will be Glenmark Pharma, Nagarjuna Fertiliser & Chem, Novartis India, Peninsula Land, REI Six Ten Retail, Reliance Industrial Infrastructure and State Trading Corporation of India, the release said.

From the BSE Small-Cap index, 27 companies will be excluded, while 29 new ones would be added.

Some of the ones to be excluded are Accel Frontline, Apollo Sindhoori Capital Investment, Balaji Distilleries, Bang Overseas, Hinduja Foundries, IOL Netcom, Nagarjuna Fertiliser & Chem, Novartis India, Pennisula Land, Reliance Industrial Infrastructure, STC, and Vishal Retail, among others.

Among the new inclusions would be Advanta India, Ajmera Realty & Infra India, Bhagyanagar India, Binani Industries, Goodricke Group, KGN Industries, KLG Systel, KNR Constructions, Nagarjuna Agrichem, Philips Carbon Black, Shaw Wallace & Co, Shrishti Infra Dev Corp, Surana Industries, TIL, Welspun India and Zee News, among others.

RIL allots 47,945 shares to employees under ESOS

MUMBAI: Diversified business conglomerate Reliance Industries Ltd (RIL) has alloted 47,945 equity shares to its employees under Employees StockOption Scheme (ESOS).

The company has allotted 47,945 shares of Rs 10 each to its employees on June 29, RIL said in a filing to the Bombay Stock Exchange.

RIL, the country’s most valued firm, is engaged in polymers, chemicals, fiber intermediates, petroleum, textiles and procurement business.

Earlier on June 10, RIL had alloted 21,173 equity shares of Rs 10 a piece to its employees pursuant to the ESOS.

Shares of RIL were trading at Rs 2,028.10 on the BSE, up 0.89 per cent from previous close

EPFO meeting to decide rate of interest on PF today

New Delhi, July 4 (ANI): The Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) is meeting today to discuss the rate of interest for provident fund for the current financial year.

Labour Minster Mallikarjun Kharge will chair the meeting.

The EPFO meeting, which is happening two days before the presentation of the general budget, is considered crucial as the decision taken by the EPFO has to be scrutinised by the Finance Ministry.

Nearly 4.5 crore employees in the country benefit from the provident fund. The EPFO is expected to retain the 8.5 percent interest rate for the current fiscal too.

The meeting is also expected to discus the Finance Ministry’s suggestion to invest 15 percent of the EPFO”s corpus, which is about Rs 1.82 lakh crore in companies listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and also equity-linked schemes of SEBI-regulated mutual funds, which was rejected by the EPFO’s Finance and Investment Committee in March.

According to sources, the EPFO has no reserves left to pay higher interest rate than 8.5 percent in this fiscal as it had suffered a Rs 139-crore deficit during 2008-09. The deficit was later made up from the available Contingency Fund of around Rs 150 crore.

The Central Board of Trustee will send its recommendations on the interest rate on provident fund deposits, to the Finance Ministry for final approval and notification. (ANI) (ANI)

BSE Orissa ~ Board of Secondary Education Orissa ~ Orissa HSC Results ~ BSE Orissa 10th Results 2009 ~ BSE Result 2009 ~ Orissa HSC Results 2009 ~ Board of Secondary Education Results 2009 ~ www.bseorissa.in ~ 2009 Bseorissa Result

BSE Orissa ~ Board of Secondary Education Orissa ~ Orissa HSC Results ~ BSE Orissa 10th Results 2009 ~ BSE Result 2009 ~ Orissa HSC Results 2009 ~ Board of Secondary Education Results 2009 ~ www.bseorissa.in ~ 2009 Bseorissa Result

Orissa Board of Secondary Education (BSE – Orissa) is today, 30th June 2009 going to declare Reslts of The Board of Secondary Education Orissa (Orissa Examination Results) , at around 09:00 Hrs.

These Results will be available on BSE Orissa Website – http://www.bseorissa.in/

Sensex gains 155 points in early trade

Mumbai June 25 (ANI) :Influenced by the buying of funds and positive trends in the other Asian markets the Bombay stock exchange (BSE) share index rose up by over 155 points during the first trade.

The Sensex, which has added 98 more points to its tally yesterday, gained 155.73 points at 14,578.46 in the first five minutes after the opening of the market.imilarly, the National Stock Exchange’s (NSE) index also moved up by 45 points. The Reliance Industries and Infosys, are the gainers during the first trade. (ANI)

Sensex fall by 309 points

Mumbai June 23(ANI): Due to the heavy selling of funds and weak global trends the benchmark Sensex of Bombay Stock Exchange (BSE) registered a fall of over 309 points in the opening trade.

The index, which suffered 195 points yesterday, fell further by 309.27 points.

The Nifty of National Stock Exchange (NSE) also followed the trends and suffered 92 points in opening trade to start at 4,143.25.

Tycoons like Reliance Industries and Infosys were the heavy sufferers in today’s trading. (ANI)

BSE crosses 140 points on opening trade

Mumbai June 22 (ANI): The Bombay Stock Exchange (BSE) benchmark sensex crossed over 140 points in opening trade, thanks to the capital inflows by foreign funds, and signals of stability from the other Asian markets.

Continuing its rising pace for the second consecutive session, the 30-share index, which was pitched at 256.36 points in the last session, collected another 140.40 points, to register 14,662.29 in opening trade.

The leading Asian markets like Hong Kong’s Hang Seng was up 2.25 percent, while Japan’s Nikkei rose 0.30 percent in morning trade.

According to experts, pick up in buying by foreign funds, sparked by firming trends in the Asian markets and covering-up of short positions by speculators mainly influenced the trading sentiments but this trend was confined to a few sectors only.

The shares of Reliance Communications were in good demand and traded 3.16 percent higher at Rs 314.80 amidst speculations of its strategic alliance with China mobile.

The Sensex also gained from the raise in the shares of Reliance Industries by 0.25 per cent at Rs 2,044.70, Reliance Infra 1 per cent at Rs 1,274.90, BHEL 1.79 per cent at Rs 2,128, Grasim Industries 1.38 per cent at Rs 335.10, L and T 2.81 per cent at Rs 1,538.15, Mahindra and Mahindra 1.04 per cent at Rs 745, ICICI Bank 2.36 per cent at Rs 730.60.

Following the trends of BSE the National Stock Exchange (NSE) index Nifty moved up 38.65 points to 4,352.25. (ANI)

Satyam hits upper circuit, Tech Mahindra gains 17%

Satyam has hit the 10% upper limit after the company announced its earnings today. The stock is locked at Rs 66.85. The counter has seen trades of around 11.72 million shares so far on the BSE, with pening buy orders for nearly 1.50 million shares.

According to a release issued by Satyam to the BSE today, the company’s standalone net profit for the quarter ended December 31, 2008, stood at Rs 181 crore. Total income stood at Rs 2,294 crore.

Further the release added that, standalone net profit for the month of January 2009 was Rs 4 crore and total income was Rs 647 crore. For February, the company recorded a net profit of Rs 52 crore and total income of Rs 676 crore.

Meanwhile, Tech Mahindra too has zoomed significantly and is now up 13.4% at Rs 673 at 11.55 am. Around 527,000 shares have changes hands at the counter so far on the BSE.

Satyam Computer today surged as much as 10 per cent on the Bombay Stock Exchange after the IT firm reported a rise in February net profit at Rs 52 crore over the month-ago period.

After opening firm on the bourses, the shares of Satyam hit upper circuit at Rs 66.85 on the BSE, up 9.95 per cent over its previous close on the exchange.

The scam-tainted company, in which Tech Mahindra has acquired a controlling stake in April, has reported a standalone net profit of Rs 52 crore for the month of February, up from Rs four crore in January 2009.

Shares of Tech Mahindra surged 16.71 per cent to a high of Rs 692.35 in the morning trade on the BSE.

Satyam’s total income in February stood at Rs 637 crore, while in January it was at Rs 647 crore.

On the National Stock Exchange, Satyam gained 10.04 per cent to touch the day’s high at Rs 66.80. On the volume front, a good over 3.5 crore shares changed hands on the bourses.

Besides, Tech Mahindra shot up 15 per cent to touch a high of Rs 694 on the NSE.

In morning trade today, IT stocks remained top performers with the 13-share BSE IT index gaining 3.43 per cent to touch a high of 3,313.77 points.

Jaiprakash Associates offers Rs 200 cr discount in ESOP plan

Realty and infrastructure major Jaiprakash Associates today said it would offer 1.25 crore shares to its employees at a price of Rs 60 per share, resulting into a huge total discount of about Rs 200 crore to the current market price.

The company’s shares are currently trading at about Rs 220 per share, resulting in a discount of about Rs 160 per share for the proposed price of Rs 60 a share for the employee stock purchase scheme.

While the employees would fork out close to Rs 75 crore under the ESOP plan for 1.25 crore shares, these many shares are worth close to Rs 275 crore at the current market price.

Jaiprakash Associates informed the stock exchange today that its board of directors, at a meeting held on Saturday, “approved the Employee Stock Purchase Scheme, as recommended by the Compensation Committee, for issue and allotment of 1,25,00,000 Equity Shares of Rs 2 each at a price of Rs 60 per share to the employees of the company and its subsidiaries.”

The scheme is subject to shareholders approval.

The firm today posted a consolidated net profit of Rs 420.25 crore for the year ended March 31, 2009 as against Rs 676.8 crore last year.

The company today witnessed heavy volatility on bourses. It witnessed a day’s high of Rs 236, but soon lost ground and was trading at Rs 210.30, down 9 per cent on the BSE.

Sensex, Nifty hit upper circuit, trading halted

Mumbai, May 18 (ANI): Markets on Monday hailed the return of the ruling United Progressive Alliance’s (UPA) to power with the Bombay Stock Exchange’s (BSE) Sensex and National Stock Exchange’s Nifty hitting the upper circuit, following which trading was halted for an hour.

The BSE Sensex opened on 1,305.97 points or 10.73 percent at 13,479.39, while the NSE’s Nifty was locked at 4203.30, higher by 14.48 per cent or 531.65 points.

All major sector-indices were in the positive zone.

It is for the first time that the Sensex has hit the upper circuit of 10 percent. (ANI)