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Market Live - 24.07.09
July, 24th 2009

11:55 am: INOX Leisure Ltd has said that the commercial operation of the company's new multiplex cinema theatre at Central Mall in Indore 
commenced from July 24, 2009. Shares of the theatre chain were up 2.60% at Rs 47.35 on BSE, following this announcement.

11:35 am: Hindustan Construction Company Ltd has posted a net profit of Rs 181.922 million for the quarter ended June 30, 2009, down from Rs 308.427 million in the corresponding quarter of 2008. Total income of the company also decreased to Rs 8778.988 million from Rs 8783.317 million in the quarter ended June 30, 2008.

Shares of the infrastructure company were marginally up by 0.31% at Rs 111.80 on BSE, following the results.

11:02 am: Mahindra Lifespace Developers Ltd has posted standalone net profit of Rs. 10.42 crore for the quarter ended June 30, 2009, up from Rs. 9.75 crore for the corresponding quarter of 2008. Net sales of the company stood at Rs. 47.26 crore against Rs. 48.21 crore last year.

Shares of the realty company were up 2.47% at Rs 292.25 on NSE, on the back of the results.

10:44 am: Nirmal Bang advises investors buy Suzlon Energy on dips and hold with stoploss of Rs 90. Buy Suzlon Energy on dip and hold with a stoploss of Rs 90. Major resistance seen at Rs 102 and if it maintains above then look for a target of Rs 109?115, the brokerage says in a note.

On NSE today, shares of the wind turbine maker were higher by 3.11% at Rs 99.40. The stock touched a high of Rs 100.35.

10:25 am: United Breweries Ltd's operating profit during the first quarter ended June 30, 2009 grew by 30% compared to the corresponding quarter of the previous year on the back of selective price increases and aggressive cost control. Net profit before tax accounted for Rs. 562 million representing an increase of 54% over the same previous quarter. The profit after tax at Rs. 355 million shows an improvement of 57% over the same quarter of the previous year. The company has plans to expand capacities in all key markets & the new green field in Andhra Pradesh will be ready in time for the coming summer season. The acquisition of land for the green field in Kamataka is complete.

The company has recommended payment of an additional dividend of Re.0.15 per equity share (making a total dividend distribution of Re.0.30 per share). The Annual General Meeting of the company is scheduled for September 10, 2009.

Shares of the brewer were down 3.66% at Rs 147.50 on NSE, following the results.

10:13 am: Bharat Forge Ltd has reported standalone net profit of Rs. 96 lakhs for the quarter ended June 30, 2009, a huge plunge from Rs. 26.56 crore posted in the corresponding quarter of 2008. The company's net sales stood at Rs. 351.58 crore compared with Rs. 637.36 crore for the quarter ended June 2008.

The shares of the company were down 3.32% at Rs 154.40 on NSE, following the results.

10:11 am: Deepak Fertilisers and Petrochemicals Corporation Ltd on Thursday announced that profits before tax in Q1FY1O improved over two successive quarters to Rs. 54.44 crores while Income from operations stood at Rs. 242.39 crores during the quarter under review. Profit after tax for Q1 FY10 stood at Rs. 38.91 crores. Plant operations during the quarter were affected by temporary repairs necessitated at the Nitric Acid plant and a planned shutdown of the Ammonia plant, coupled with relatively lower prices in he fertiliser sector and aross key chemicals like IPA. This resulted in a lower income from operations for the quarter though profitability was not largely affected owing to good input price management. However, with increased gas availability, capacity utilisations are improving. Merchant ammonia would be available or ke the new JNPT ammonia tank is commissioned in Q3 FY10.

On NSE today, Deepak Fertilisers shares were 0.30% at Rs 82.85.

10:05 am: Losers among the 50 index stocks included Ambuja Cements (-1.86%), Grasim Industries (-1.78%), ITC (1.78%), GAIL, HDFC Bank, Bharti Airtel, ONGC, Hero Honda Motors, Cipla, HDFC.

10:02 am: The top gainers among the Nifty stocks were Idea Cellular (4.04%), Suzlon Energy (3.16%), Reliance Power (2.79%), Unitech, Infosys Technologies, National Aluminium Co, Carin India,DLF, Sterlite Industries, Larsen & Toubro.

9:59 am: The Sensex started the session at 15,272.01 versus Thursday's close of 15,231.04. The BSE benchmark moved between 15,418.61 and 15,272.01 in the initial minutes. The index settled at 15,334.84, up 103.80 points or 0.68% from the previous close.

9:58 am: Indian stocks continued their bull run on Friday, with strong cues from Asian and US markets. The Nifty opened the day at 4524.80 against the previous close of 4523.75. The NSE benchmark index touched a high of 4575.15 in the early minutes. The 50 share index settled at 4561.50, gaining 37.75 points or 0.83%.

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