The Indian markets continued to trade well above the dotted line during the previous two hours of trade. Buying activity is being witnessed in stocks across sectors led by realty, metal and energy. Stocks forming part of the pharma space are however seeing marginal declines.
The BSE-Sensex and the NSE-Nifty are trading higher by about 100 points and 35 points respectively. The BSE-Midcap and BSE-Smallcap indices are trading firm as well, up by around 0.9% and 1.1% respectively. The rupee is trading at 46.67 to the dollar.
Tata Steel has witnessed a robust 35% rise in sales in the month of November 2009 to 4.98 lakh tonne as against 3.70 lakh tonne in November 2008. This is mainly on the back of improved demand from the construction and whitegoods sectors. During the month, the company has seen a 56% increase in the sale of its flat steel products and a 13% increase in sales of long steel products. The company also saw its saleable steel output rise 16% to 5.25 lakh tonne compared to 4.51 lakh tonne during the same time last year. Its crude steel and hot metal production rose by 2% YoY in November to 5.26 lakh tonne and 5.88 lakh tonne respectively. The rise in the demand for the company's products has a lot to do with the recent buoyancy in auto and whitegoods sectors as also the rising demand from the infrastructure sector. Tata Steel is currently trading higher on the bourses.
As per a leading business publication, wind turbine major Suzlon's German subsidiary REpower expects wind turbine orders to rise next year (2010) on the back of climate change talks that are underway in Copenhagen. This it feels may increase demand for renewable energy and consequently wind turbines. The industry has been pretty low on order inflow in 2009. But the company is now seeing the first signs of that scenario easing up a bit. According to the company's management, the decisions taken at Copenhagen will provide important signals for the industry. Negotiators from 192 countries at Copenhagen may agree on a framework to curb emissions from power plants and factories blamed for global warming, which could potentially provide a big fillip to the wind power industry. Suzlon's stock has seen substantial gains on the back of a spate of orders won by the company and its key subsidiary REpower Systems in the last one month. Suzlon owns 91% in REpower. Suzlon's stock is up roughly 28% in the last one month and is trading marginally upwards currently.
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GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.
GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).
STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).
JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..
JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .
BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.
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