India shares climb to new high
Indian shares rose 0.61 percent on Thursday to a record close -- their fifth so far in January -- led by gains in top private firm Reliance Industries Ltd. ahead of the release of its quarterly results. The 30-issue main BSE index ended 86.41 points higher at 14,217.75, after hitting a lifetime high of 14,325.92 during trade -- its fourth record high in the last five days.
Reliance Industries rose 1.3 percent to 1,367 rupees, having hit a record high of 1,383.50 rupees during trade. After the market closed, it reported a 58 percent rise in net profit, well ahead of market forecasts.
Oil & Natural Gas Corp. rose 2.5 percent to 916.85 rupees after its chairman said the state-run firm's natural gas find off India's east coast was commercially viable.
Ranbaxy Laboratories, India's top drug maker by sales, reported an almost three times rise in quarterly profit and forecast revenues to rise 15 percent in 2007, but it shares ended down 0.3 percent at 430.20 rupees.
STOCKS THAT MOVED
* Drug maker Biocon Ltd. rose 10.5 percent to 410.25 rupees after its Oct-Dec net profit rose 45 percent to 475.1 million rupees.
* NIIT Technologies Ltd. surged 20 percent, its maximum daily trading limit, to 409.50 rupees after its Oct-Dec net profit more than doubled to 301 million rupees.
* Iron maker Tata Metaliks Ltd. fell 8.1 percent to 116.20 rupees after it reported a net loss of 11.2 million rupees for the December quarter from a net profit of 72.4 million rupees a year ago.
MAIN TOP THREE BY VOLUME
* IFCI Ltd. on 41.4 million shares
* Silverline Technologies on 14.3 million shares
* Reliance Natural Resources Ltd. on 10.8 million shares
Nifty Gainers
Company Price Change
Dabur India Ltd. 171.4 +10.47%
Videsh Sanchar Nigam Ltd. 478.25 +3.48%
Housing Development Finance Corporation Ltd. 1599.5 +3.43%
GAIL India Ltd. 281.85 +2.49%
Larsen & Toubro Ltd. 1590.4 +2.27%
Nifty Losers
Company Price Change
Tata Steel Ltd. 475.75 -1.72%
ICICI Bank Ltd. 971.25 -1.58%
Oriental Bank of Commerce 225.6 -1.55%
Reliance Communications Ltd. 436 -1.4%
Reliance Energy Ltd. 528.55 -1.37%
Nifty Top Volume
Company Price Volume
Steel Authority of India (SAIL) Ltd. 98.75 13493974
ITC Ltd. 172.2 5629636
Reliance Communications Ltd. 436 4641135
Dabur India Ltd. 171.4 3930223
Ranbaxy Laboratories Ltd. 430.4 3914355
as on Thursday, January 18, 2007 4:29:55 PM
Comments