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| Sensex stages a mild recovery @ 14:31 hrs
Last Updated: 2008-07-31 15:08:40
Thanks to resumption of buying at several blue chip counters, the Sensex and Nifty have edged up from their lower levels now.
At 14,257.76, the Sensex is down with a marginal loss of 29.45 points or 0.21%. The Nifty (4313.45) hovers around its previous closing mark.
Tata Steel (up 4.7% at Rs 659.75) rules firm on sustained buying support. Cairn India and Siemens are up by over 3%. SAIL, Suzlon Energy, DLF and Sterlite Industries are quoted 2% - 2.25% higher than their previous closing levels.
HDFC Bank is up by a little over 1.5%. Reliance Industries, NTPC, Ranbaxy Laboratories, Hindalco, Tata Power, HCL Technologies, ONGC, Hero Honda, Unitech and ACC are up with sharp to moderate gains.
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Tata Motors, Zee Entertainment, ITC, Punjab National Bank and Tata Communications are down by 3% - 5%. Power Grid Corporation, BPCL, Idea Cellular, ABB, Maruti Suzuki and Sun Pharmaceuticals have lost 2% - 3%.
Dr. Reddy's Laboratories, Grasim Industries, Bharti Airtel, Tata Consultancy Services, Satyam Computer Services, ICICI Bank and State Bank of India are also down with sharp losses.
Bharat Forge Limited has posted a net profit after tax of Rs 265.60 million for the quarter ended June 30, 2008 as compared to Rs 648.10 million for the quarter ended June 30, 2007. Total income has increased from Rs 5168.80 million for the quarter ended June 30, 2007 to Rs 6494.50 million for the quarter ended June 30, 2008. Despite a drop in earnings, the Bharat Forge stock is up in the positive territory at Rs 249 with a sharp gain of 2.35%.
Shriram Transport Finance Company Limited has reported a sharp rise in its net profit for the quarter ended 30 June 2008. The company has posted a profit after tax of Rs 1440.00 million for the said quarter as compared to Rs 750.00 million for the quarter ended June 30, 2007. The Shriram Transport stock, however, is down in the negative territory at Rs 293.15, down 1.1% from its previous closing mark.
Central Bank of India has posted a net profit for the period of Rs 593.20 million for the quarter ended June 30, 2008 as compared to Rs 983.50 million for the quarter ended June 30, 2007. At 58.55, the bank stock is down with a loss of 1.9% now.
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