Indian shares hit 2-½ year high; Wipro gains

July 24, 2010 By Leave a Comment

MUMBAI, July 23 (Reuters) – Indian shares rose to their
highest level in two-and-a-half years on Friday, bouyed by a
rally in world equities and better-than-expected quarterly
earnings by outsourcer Wipro (WIPR.BO).

Export-driven software services companies were among the
gainers after Wipro posted a 31 percent rise in quarterly
profit said it was seeing strong business environment.
[ID:nSGE66K09K]

Wipro rose as much as 4.2 percent to 433 rupees. If it
rises past 451.80, it would be the highest level in a decade,
data from Thomson Reuters showed.

“For the IT sector, demand environment is good. Also,
pricing scene is stable and improving,” said Deven Choksey,
managing director and CEO of KR Choksey Shares.

He expects a 15-20 percent upside for tier-I IT stocks.

Bigger rivals Tata Consultancy Services (TCS.BO) rose as
much as 0.9 percent to a record high of 850 rupees, while
Infosys Technologies (INFY.BO) was up 0.6 percent.

By 11:12 a.m. (0542 GMT), the 30-share BSE index .BSESN
was trading up 0.32 percent at 18,171 points — after hitting
18,237.56, its highest level since February 2008.

Eighteen of its components were trading in the green.

In the broader market, gainers led losers in a ratio of
1.3:1 on volume of 139 million shares.

Foreign funds have poured $8.8 billion into Indian equities
this year, driving the benchmark index up more than 4 percent.
In 2009, they had bought a record $17.5 billion of stocks and
helped power an 81 percent rally.

Asian stocks rose as strong earnings from economic
bellwethers such as Caterpillar (CAT.N) tempered concerns about
a global slowdown. [MKTS/GLOB]

“Global cues will remain uncertain for a while. But a lot
of corrective measures which are taken, will prevent the
economies from going down under,” said Choksey.

The 50-share NSE index was up 0.3 percent at
5,459.35.

Brokerage Sharekhan said the hourly momentum indicator
showed an upside was gaining strength.

Top-listed biotechnology firm Biocon (BION.BO) slipped 1.3
percent after it reported a lower-than-expected 33 percent
rise
quarterly profit.

Energy giant Reliance Industries (RELI.BO), which has the
highest weight on the Sensex, climbed 0.3 percent to 1,062
rupees.

Cigarette-to-hotel group ITC (ITC.BO) added 0.7 percent
after rising 1.6 percent on Thursday following a 22 percent
rise in quarterly profit. [ID:nBMA008051]

STOCKS ON THE MOVE

* Credit rating firm Crisil (CRSL.BO) was down 2.8 percent
at 5,700 rupees, after the unit of Standard & Poor’s Corp said
late on Thursday its net profit fell 13 percent. [ID:nWNBS0573]

* Dr Reddy’s Laboratories (REDY.BO) shed 1.3 percent to
1,363.10 rupees, extending losses after the drugmaker said on
Thursday consolidated quarterly profit fell a
more-than-expected 14.3 percent following a drop in sales in
its key U.S. market. [ID:nSGE66L0K3]

* JSW Steel (JSTL.BO) was up nearly 1 percent at 1,213
rupees, after a report said JFE Holdings Inc (5411.T), Japan’s
second-biggest steelmaker, plans to invest about $1 billion in
the Indian firm. [ID:nTOE66M038]

MAIN TOP THREE BY VOLUME

* NHPC (NHPC.BO) on 4.7 million shares

* Shree Ashtavinayak (SACV.BO) on 4.7 million shares

* IFCI (IFCI.BO) on 3.3 million shares

FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bond report
[IN/]
* Euro steadies vs dollar before stress test results
[FRX/]
* Oil slips from 11-week high on demand uncertainty
[O/R]
* Asia stocks up, euro firm, eyes stress tests
[MKTS/GLOB]
* Earnings lift Wall St, but Amazon.com plunges
[.N]
* For closing rates of Indian ADRs
INADR

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Indian shares turn positive on earnings optimism

July 20, 2010 By Leave a Comment

July 19 (Reuters) – Indian shares recovered from early lows on Monday morning, on optimism over quarterly earnings and a newspaper report Etisalat was close to buying a stake in Reliance Communications (RLCM.BO), the no. 2 mobile operator.

At 10:20 a.m. (0450 GMT), the 30-share BSE index .BSESN was up 0.03 percent at 17,961.03 points, with 16 components advancing. It had declined as much as 0.6 percent early.

The 50-share NSE index was barely changed at 5,394.10.

Reliance Communications was up 2.2 percent at 191.30 rupees after a Financial Times report Emirates Telecommunications (ETEL.AD) (Etisalat) was close to buying 26 percent stake in the Indian firm. [ID:nSGE66I05B] (Reporting by Ami Shah)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , ,

Indian shares rise 1 pct; telecoms, techs lead

July 10, 2010 By Leave a Comment

July 9 (Reuters) – Indian shares extended gains to 1 percent on Friday morning, with telecom stocks and IT firms leading the gains.

Infosys Technologies (INFY.BO) rose as much as 1.9 percent to a record high of 2,879 rupees ahead of its quarterly earnings on Tuesday.

Leading telecom firms Bharti Airtel (BRTI.BO) and Reliance Communications (RLCM.BO) rallied as much as 8.2 percent and 2.8 percent respectively, after Credit Suisse upgraded Bharti to “outperform” from “neutral” and Reliance Communications to “neutral” from “underperform”.

At 10:01 a.m. (0431 GMT), the 30-share BSE index .BSESN was up 1.04 percent at 17,834.45 points, with 28 components advancing.

The 50-share NSE index was up nearly 1 percent at 5,348.60. (Reporting by Ami Shah)

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Indian shares drop 1.1 pct; Maruti falls, Fortis up

July 2, 2010 By Leave a Comment

MUMBAI, July 1 (Reuters) – Indian shares got off to a shaky start to the new quarter, falling 1.1 percent on Thursday as doubts resurfaced about the global economic recovery and a slower manufacturing growth at home.

A survey showed Indian manufacturing growth cooled in June from a surge in activity the prior month, mainly due to slowing production and rapidly easing input price pressures. [ID:nBMA007940]

Leading car maker Maruti Suzuki (MRTI.BO) fell as much as 3.1 percent after sales growth in June slowed from the previous month, partly due to a 6-day shutdown of its plants for maintenance work. [ID:nSGE660080]

Asian stocks dropped as manufacturing data showed China’s rapid economic growth was slowing and as fresh worries about Europe’s fiscal health hit risk appetite.

“The scene is not looking good in the near term. We have some or the other bad news coming in from Europe every other day,” said Kunal Sukhani, manager of institutional equities at brokerage Asian Markets Securities.

Shares in Fortis Healthcare (FOHE.BO) swung widely after the company launched a bid valuing Singapore hospital operator Parkway Holdings (PARM.SI) at $3.1 billion, topping a bid by rival suitor Malaysian state fund Khazanah. [ID:nSGE66002F]

By 11:17 a.m. (0547 GMT), the 30-share BSE index .BSESN was trading down 1.07 percent at 17,512.18, with 27 of its components declining.

Fortis was trading 1.5 percent higher after falling as much as 3.4 percent.

Financials dropped ahead of food and fuel price data due around 0630 GMT.

Top lender State Bank of India (SBI.BO) was down 1.1 percent while rivals ICICI Bank (ICBK.BO) and HDFC Bank (HDBK.BO) dropped 2.4 percent and 0.7 percent respectively.

In the broader market, gainers and losers were almost equal in number on volume of 169 million shares.

The 50-share NSE index was down 1.2 percent at 5,250.25.

The BSE index rose 4.5 percent in June, posting its best monthly gain since March. The rise was powered by foreign funds who pumped in $2.1 billion June 1-29, reversing withdrawal of $2 billion in May when the benchmark fell 3.5 percent.

For April-June, the index rose 1 percent, climbing for the sixth straight quarter in its longest run in at least 20 years.

STOCKS ON THE MOVE

* TVS Motor Co (TVSM.BO) was up 1.6 percent at 121.15 rupees as June two-wheeler sales of the No. 3 motorcycle maker rose 36 percent from the same period a year earlier. [ID:nBMB010904]

* Drug maker Parabolic Drugs (PARB.BO) (PARB.NS) debuted on the BSE at 76.8 rupees, up 2.4 percent from its issue price of 75 rupees. [ID:nSGE660056]

The stock erased all gains and was trading lower at 66.95 rupees.

MAIN TOP 3 BY VOLUME

* Redington (REDI.BO) on 11.5 million shares

* IFCI (IFCI.BO) on 6.4 million shares

* Parabolic Drugs on 3.9 million shares

FACTORS TO WATCH * For technical analysis double click on www.reutersindia.net * Indian rupee report [INR/] * Indian bond report [IN/] * Euro hits record low vs Swiss franc, Aussie down [FRX/] * Oil tumbles 4th day on China economic growth worries [O/R] * Stocks, commodities fall on China slowdown [MKTS/GLOB] * Wall St tumbles to worst quarter since Lehman fall [.N] * For closing rates of Indian ADRs INADR (Reporting by Ami Shah; Editing by Ranjit Gangadharan)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Indian shares extend losses to 1 pct on weak Asia

July 1, 2010 By Leave a Comment

June 29 (Reuters) – Indian shares extended losses to 1 percent on late Tuesday morning, with financials leading the decline, hurt by weak Asian stock markets.

Financials

At 11:52 a.m. (0622 GMT), the 30-share BSE index .BSESN was down 1.09 percent at 17,685.60 points, with 28 components declining.

The 50-share NSE index was down 1.2 percent at 5,272.20 points. (Reporting by Ami Shah; editing by Malini Menon)

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Indian shares drop 0.4 pct; Infosys, Sterlite down

June 23, 2010 By Leave a Comment

MUMBAI, June 22 (Reuters) – Indian shares eased 0.4 percent
on Tuesday as investors took a breather after a 5.5 percent
rally over three weeks. Infosys Technologies (INFY.BO) and
Sterlite Industries (STRL.BO) led the decline.

“Investors are booking profits after the recent rally,”
said Kunal Sukhani, manager of institutional equities at
brokerage Asian Markets Securities.

“The trend should continue ahead of expiry on Thursday,” he
said, referring to the monthly derivative contracts on the
National Stock Exchange.

By 10:28 a.m. (0458 GMT), the 30-share BSE index .BSESN
was trading down 0.42 percent at 17,801.47 points, after rising
to a 2-½ month closing high in the previous session.

Two-third of its components were trading in the red.

Traders said the market was following the trend in other
Asian bourses that retreated as investors took profits from a
rally spurred by China’s weekend decision to give its currency
more flexibility.

Foreign funds have bought shares worth $1 billion so far in
June, after withdrawing $2 billion last month.

Infosys, the country’s No. 2 software services firm, was
down 0.9 percent after rising 2.4 percent over previous four
sessions. Tata Consultancy Services (TCS.BO) and Wipro
(WIPR.BO) were down 1.1 percent and 1.3 percent respectively.

Metals stocks pulled back after the bounce on Monday.
Non-ferrous metals producer Sterlite Industries and aluminium
maker Hindalco (HALC.BO) dropped 2.5 percent and 2.5 percent
respectively.

Tata Steel (TISC.BO), the world’s eighth largest
steelmaker, was down 1.4 percent.

The BSE metal index .BSEMET shed 1.6 percent after
jumping 5.2 percent on Monday.

In the broader market, gainers and losers were almost equal
in number on volume of 130 million shares.

The 50-share NSE index was down 0.4 percent at
5,332.85.

STOCKS ON THE MOVE

* Yes Bank (YESB.BO) was down 3.1 percent at 273.10 rupees,
after a source told Reuters Dutch lender Rabobank [RABO.UL]
sold about 11 percent in the private sector bank.
[ID:nSGE65L05H]

* MTNL (MTNL.BO) was up 2.8 percent at 65.50 rupees after
the Financial Express said Reliance Industries (RELI.BO) was in
initial talks with the state-run telecom firm to market its 3G
services as a franchisee. [ID:nSGE65L03K]

* Cox and Kings India (COKI.BO) rose 2.7 percent to 508.60
rupees after a senior official said the travel operator was
seeking shareholder approval to raise up to 20 billion rupees
via equity and debt to fuel its growth plans including domestic
and overseas acquisitions. [ID:nBMB010848]

MAIN TOP 3 BY VOLUME

* Yes Bank on 38.5 million shares

* Hindustan Motors (HMTR.BO) on 5.6 million shares

* IFCI (IFCI.BO) on 3.8 million shares

FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bond report
[IN/]
* Euro, Aussie pare post-yuan fixing gains
[FRX/]
* Oil falls as yuan impact on China imports seen limited
[O/R]
* Asia stocks fall as yuan euphoria fades
[MKTS/GLOB]
* Wall St ends lower as China yuan euphoria fades
[.N]
* For closing rates of Indian ADRs
INADR

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Indian shares extend losses to 2 pct

June 2, 2010 By Leave a Comment

June 1 (Reuters) – Indian shares extended losses to 2 percent in afternoon trade on Tuesday, amid profit booking, after European markets opened weaker on renewed doubts about the pace of the global economic recovery.

Financials

Largest-listed firm Reliance Industries (RELI.BO) and private sector lender ICICI Bank (ICBK.BO) were among the major losers. At 2.19 p.m. (0849 GMT), the 30-share BSE index .BSESN was trading down 2.08 percent at 16,591.40 points, with 27 of its components losing.

The 50-share NSE index was down 2.24 percent at 4,971.80. (Reporting by Prashant Mehra; Editing by Unnikrishnan Nair)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , ,

BSE Sensex up 1.3 pct; Ambanis’ firms rally

May 24, 2010 By Leave a Comment

The BSE Sensex rallied more than 1 percent on Monday, with companies controlled by the billionaire Ambani brothers among the big gainers after they moved towards resolving a long-running strife.

Both the groups said they aim to reach a conclusion soon for a gas supply agreement between Reliance Industries and Reliance Natural Resources that had been at the heart of their dispute.

Mukesh Ambani-led Reliance Industries, which has the highest weight on the BSE Sensex climbed 3.6 percent.

Reliance Natural Resources, controlled by Anil Ambani, jumped 21 percent while other group companies Reliance Infrastructure, Reliance Communications rose 7 percent and 5.8 percent respectively.

The benchmark, which fell 3.2 percent last week, is down 4.6 percent so far this year and traders were uncertain about the outlook.

“In the near term, the outlook for Indian market remains uncertain,” said Anish Marfatia, head of sales trading at Avendus Securities. “We are still not out of the woods. The Europe and China overhang remains.”

Foreign funds have pulled out around $1.5 billion from Indian equities so far this month, which has been a drag for the market.

In the broader market, gainers were four times the number of losers on volume of 101 million shares.

The 50-share NSE index was up 1.3 percent at 4,995.75.

STOCKS ON THE MOVE

* Metal makers Sterlite Industries, Hindalco and Tata Steel rose between 1.7-2.3 percent, as Shanghai copper and aluminium prices rallied.

* Godrej Consumer Products was up 3.2 percent at 331 rupees after the personal care products maker said on Sunday it would buy South America-based unlisted hair care products maker Issue Group.

MAIN TOP 3 BY VOLUME

* Reliance Natural Resources on 8.9 million shares

* Adani Enterprises on 5.3 million shares

* Bank of Rajasthan on 2.5 million shares

(Reporting by Ami Shah; Editing by Ranjit Gangadharan)

(For more business news on Reuters Money visit http://www.reutersmoney.in)

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BSE Sensex rises 1.5 pct; Ambanis’ cos rally

May 24, 2010 By Leave a Comment

The BSE Sensex rose 1.5 percent early on Monday, with Reliance Industries leading the rise after the Ambani brothers made a reconciliation move over the weekend.

Both groups said they aim to reach a conclusion soon for a gas supply agreement between Reliance Industries and Reliance Natural Resources that had been at the heart of their dispute.

At 9:01 a.m. (0331 GMT), the 30-share BSE index was up 1.5 percent at 16,685.33 points, with 25 components advancing.

Shares in energy major Reliance Industries, controlled by Mukesh Ambani, rallied more than 5 percent.

Anil Ambani led Reliance Infrastructure and Reliance Communications were up 5.3 and 7.4 percent respectively.

The 50-share NSE index was up 1.4 percent at 5,000.90.

(Reporting by Ami Shah)

(For more business news on Reuters Money visit http://www.reutersmoney.in)

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Indian shares extend gains to 1 pct

April 10, 2010 By Leave a Comment

MUMBAI, April 9 (Reuters) – Indian shares extended gains to 1 percent on Friday morning, helped by earnings optimism and rising foreign portfolio inflows. Reliance Industries (RELI.BO) and financials led the rise.

Financials

At 10:06 a.m. (0436 GMT), the 30-share BSE index .BSESN was up 0.99 percent at 17,890.29 points, with 27 components advancing, after hitting 17,891.26.

The 50-share NSE index was up 0.8 percent at 5,348.50. (Reporting by Ami Shah)

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Indian shares rise 0.1 pct; auto makers lead

March 29, 2010 By Leave a Comment

MUMBAI, March 29 (Reuters) – Indian shares rose 0.1 percent in early trade on Monday with auto makers leading the gains on hopes for strong sales in March.

Financials

At 9:01 a.m. (0331 GMT), the 30-share BSE index .BSESN was up 0.11 percent at 17,664.22 points, with 21 components advancing.

The 50-share NSE index was up 0.1 percent at 5,285.23. (Reporting by Ami Shah)

Filed Under: International News Tagged With: , , , , , , , ,

Sensex dips below 15K level during opening trade

August 21, 2009 By Leave a Comment

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)

Filed Under: Business News Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

Sensex gains 155 points in early trade

June 27, 2009 By Leave a Comment

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)

Filed Under: Business News Tagged With: , , , , , , , , , , , , ,

BSE crosses 140 points on opening trade

June 22, 2009 By Leave a Comment

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)

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Sensex turns volatile as profit booking sets in

May 19, 2009 By Leave a Comment

Mumbai, May 19 (ANI): Following a comfortable victory of the Congress-led United Progressive Alliance (UPA), Bombay Stock Exchange Benchmark Sensex was trading two percent higher on Tuesday.

By 12:03 p.m., the 30-share BSE index was up 2.1 percent at 14,586.98 points, after starting up 3.3 percent and then falling as much as 3.1 percent.

Twenty stocks advanced while in the broader section, gainers led losers 2 to 1 on heavy volume of 351.1 million shares.

Foreign funds, which have pumped about four billion dollars into the Indian market since mid-March, will be encouraged to invest more with a stable government that is not shackled by former allies such as the communists.

The 50-share NSE index was up 1.2 percent at 4,375.50.

The strong win of the UPA is expected to enable the Government to push economic reforms such as privatisations and freer foreign investment rules to boost slowing growth, but the biggest one-day surge in almost two decades on Monday was seen as overdone.

Market analyst Sunil Shah said that investors need to be cautious at this moment and should not be swayed by the movements in the market.

“We saw market going down by 500 points and then recovered but the thing is before taking a next decisive trend, upward movement, market is going to remain little volatile. So investors have to be very cautious, and do not get swayed by these movements. Stick to good fundamentals, stick to good companies. And use every fall as an opportunity to enter into the market. Because I see Indian market will emerge as a safe haven,” Shah said.

Investors are also expected to extend its gains on Tuesday.

“In today’s market scenario yesterday’s profit booking is going on. I hope that it will rise. Market is going up and down, it will sustain and would go up,” said Sharad Kumar, an investor.

A few investors standing outside the BSE also said that when Manmohan Singh will be elected as leader, reforms are expected to take precedence over everything.

“Yesterday was a complete change. The market was expecting some sort of coalition whereby the Left may support from outside but now that its almost clear mandate for the Congress and Manmohan Singh in the saddle, one expects reforms to take precedence over every other thing,” said Ramesh Prasad, another investor.

Export-led IT sector, which include outsourcers such as the Infosys Technologies and the Wipro, fell, as a jump in the rupee’s value against the dollar would affect their rofitability. (ANI)

Filed Under: Business News Tagged With: , , , , , , , , , , , , , , , , , , , ,

Indian shares jump 4 pct; banks, Reliance up

April 3, 2009 By Leave a Comment

Indian shares jumped more than 4 percent on Thursday, led by financials such as ICICI Bank and State Bank of India, after positive U.S. data boosted optimism the global economy had turned a corner.

Reliance Industries, the country’s most valuable company, rallied as much as 4.4 percent after the energy firm began pumping natural gas from its giant field off India’s east

coast.

Traders said the rise was spurred by gains across the region following Wall Street’s rally on Wednesday after data showed U.S. factory activity in March fell at a slower rate than the month before, while pending home sales rose more than expected in February.

“The market is seeing the glass as half-full. Things have become less worse, even though they may not have become better. A lot of people who were left out of the rally are joining the party a little late,” V.K. Sharma, head of research at Anagram

Stock Broking, said.

The BSE index, which has leapt about 28 percent since hitting a 2009 low in early March, could see a five-month high if it breaks above 10,469.72 reached on Jan. 7 before Satyam Computer unveiled the country’s biggest corporate fraud and sparked a market slide.

“We may have seen the worst and only a catastrophic event globally can affect us now,” Madhusudan Kela, head of equity at Reliance Mutual Fund, told an investment seminar at the Bombay Stock Exchange late on Wednesday.

Private-sector lender ICICI Bank rose 7.2 percent to 374.75 rupees, while government-run State Bank of India gained 6.5 percent to 1,144 rupees.

Reliance Industries, which has the biggest weight on the main index, was up 4.1 percent at 1,643.70 rupees.

In the broader section, gainers led losers in the ratio of 4:1 on moderate volume of 180.1 million.

The 50-share NSE index was up 4.5 percent at 3,195.50.

Asian shares were higher with Japan’s Nikkei up 4.4 percent and MSCI’s measure of other Asian markets rising 4.7 percent.

MAIN TOP 3 BY VOLUME

* Suzlon Energy on 8.6 million shares

* Reliance Natural Resources on 7.3 million shares

* Unitech on 5.3 million shares

STOCKS THAT MOVED

* Cement firms such as Grasim Industries and ACC Ltd were up 1-5 percent after the Economic Times said several companies raised prices by 3-7 rupees per 50 kg bag in anticipation of higher demand.

* Larsen and Toubro Ltd rose 6.7 percent to 717.60 rupees after the engineering conglomerate said it won two orders worth 11.43 billion rupees from Tata Steel.

* Wind-turbine maker Suzlon Energy gained 8 percent to 50.25 rupees after it said late on Wednesday its U.S. unit won a repeat order from U.S. firm Duke Energy for 20 wind turbines.

11:45 a.m., the 30-share BSE index was up 4.4 percent at 10,

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BSE Sensex extends rise to more than 1 pct

April 2, 2009 By Leave a Comment

MUMBAI (Reuters) The BSE Sensex extended gains to more than 1 percent in early afternoon trade on Wednesday, recovering from morning losses of as much as 1.7 percent as they tracked strong Asian markets,

The 50-share NSE index was up 0.8 percent at 3,045.65.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,