Fast track
Adani Exports jack-hammered
THERE was little in the way of some corporate news to move the market and not much volatility among the pivotals, with most index-heavy weight stocks remaining range-bound. However, a few stocks were jack-hammered in the dull market and their financial
performances aggravated the slide further.
Impact
BHEL: Buoyed by `power'ful order
AN order worth Rs 2,079 crore secured by BHEL is likely to enthuse firm price trends in the stock. BHEL has secured this order from National Thermal Power Corporation for executing the 1,000 MW Rihand Power project in the UP. Considering the order size
and the stability it may provide to revenue flows, the market sentiment in the BHEL stock may perk up in the near term. The stock closed on Thursday's trading at Rs 150.55. -- BL Research Bureau
Tata Engineering: Enthused by hive-off prospect
THE announcement by Mr Ratan Tata, Chairman, Tata Engineering, at its recent annual general meeting that he is open to hiving off the car venture is positive from the stock market's viewpoint. To be sure, Mr Tata qualified this by stating that it would b
e subject to securing the right partner.
C-MAC Centum: Bolstered by open offer?
FOLLOWING an indirect change in control at the global level, there is a possibility of an open offer by C-MAC Centum Electronics in the domestic market. This follows the merger of the Canada based C-MAC Industries Inc, (which holds a 50.76 per cent equit
y stake in C-MAC Centum Electronics) by US-based Solectron, the world's largest electronic contract manufacturer.
Stocks
Lyons Range
THE Calcutta Stock Exchange on Thursday saw an improvement in sentiment on Thursday. The Satyam Computer counter, which led the buoyancy, closed at Rs 172.80 with a gain of 7.60 per cent. The scrip clocked a turnover of Rs 51.18 crore.
Syngenta, Satyam bask in limelight
TRADING interest in select old economy and technology stocks helped the BSE Sensex appreciate by 6.02 points or 0.18 per cent on Thursday to close at 3337.91 points. In addition, certain optimistic sound bytes and meetings by the Finance Minister with in
dustrialists and a panel set up to improve liquidity appear to have helped bolster market sentiment at the Bombay Stock Exchange.
Technical Analysis
Uptrend initiated
THURSDAY'S bull domination initiated a fresh uptrend, terminating the downtrend in the index. The intra-day movement in the index was restricted to 11 points. It closed with a marginal gain of three points with respect to Tuesday's close. The sentimen
t reading of the tradable counters stands in favour of the bulls.
