Stocks reel under selling pressure from across all sectors

April 19, 2010 · Filed Under market · Comment 

Local equity markets are witnessing intense selling pressure from across all sectors on back of weak global cues. All Asian markets are trading in the negative terrain with Shanghai Composite declining by more than 4% and Jakarta Composite shedding around 3%. Moreover, most of the other Asian indices declined by more than one percentage point on the US SEC’s (Securities and Exchange Commission) fraud charges against Goldman Sachs. Back home, all sectors in the broader indices are trading in the red with Metal segment losing around 2.3%, followed by Oil & Gas, Power, Auto and Realty that also lost more than one percentage point. Adding to woes is the Downgrade of Indian Equities by Morgan Stanley to EqualWeight.

Coupled with the global events, RBI’s looming liquidity tightening measures Read more

Nifty closes above 5300 – New High

March 29, 2010 · Filed Under market · Comment 

The S&P CNX Nifty advanced 30.10 points or 0.57% to 5,312.10. The index touched a high and a low of 5,329.55 and 5,242.15, respectively.

The major gainers on the Nifty were Hindalco up 3.61%, Reliance Power up 3.29%, Ambuja Cement up 2.60%, Sterlite Industries up 2.32% and HDFC up 2.10%. The major losers on the index were Infosys down 1.97%, TCS down 1.40%, Tata Motors down 0.97%, ABB down 0.85% and Cipla down 0.81%. Read more

JSW Energy Trading just 2.5% above IPO Price – Powerless Listing

January 4, 2010 · Filed Under market · Comment 

JSW Energy which raised money in the capital market last month listed on the bourses today and is trading at Rs 102.50, just 2% above the IPO issue price of Rs 100. Experts on Dalal Street had AVOIDED the issue since the price range during the IPO was Rs 100 to Rs 115 and had the management issued it at the upper band like all others did, then it would have been trading at 10% discount. Read more

Hindustan Construction bags order from Indian Strategic Petroleum Reserves

December 30, 2009 · Filed Under market · Comment 

Hindustan Construction Company (HCC) has informed us in a message that the company just a while ago received a prestigious contract worth Rs 374.66 crore from Indian Strategic Petroleum Reserves (ISPRL), New Delhi.

The company has bagged the order for construction of civil works for an underground rock caverns for Strategic Storage of Crude Oil Project at Padur in Karnataka. The project will be completed in 3 years.

HCC is already constructing India’s first strategic crude oil storage of 1.33 million tonnes capacity in Vishakhapatnam, Andhra Pradesh.

Nifty closes below the 5000-mark; RIL slips 2.77%

December 18, 2009 · Filed Under market · Comment 

Domestic equity markets witnessed heavy selling in the last hour of trade on Friday which resulted in the National Stock Exchange’s (NSE) 50-share Nifty shutting shop below the psychological mark of 5000. After spending most part of the day in a tight range markets came under pressure in late afternoon trades on concerns over likely monetary tightening measures by the Reserve Bank of India (RBI). Weak Asian markets also weighed on sentiments in trade. Investors opted to take some profit off the table ahead of the holiday season, which starts next week. Sell-off was led by realty, oil & gas and banking sector stocks while selective buying was witnessed in healthcare, consumer durables and auto shares. Read more

Massive Corruption by Petroleum Ministry under Congress Led Government

August 17, 2009 · Filed Under market · 1 Comment 

The Petroleum Ministry headed by Sri Murli Deora [Acting as an Agent of Reliance Industries] will betray to all Indians a sum of Rs 30,000 crore and help make on company RIL a super-normal profit of Rs 50,000 crore and th Government getting only Rs 500 cr of the KG Basin Gas.

All the elected representatives / MPs seem to be involved in this scam as they are quiet and none of them want to raise the issue. Send in your comments to

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