The BSE index ended up 145.94 points at 14,650.51. This was the index's highest close since Feb 8 -- the day before it hit its life high of 14,723.88.
Inflation 4.03.
SBI's chairman said a share sale was planned for this year.SBI ended up 3.7 percent at a record close of 1,525.30.
STOCKS THAT MOVED:
* Motorbike maker TVS Motor Co. fell 5.7 percent to 60.90 rupees, a two-month closing low, after its net profit
fell 69 percent in the March quarter.
* State-run lender IDBI Ltd. gained 5.3 percent to 118.65 rupees after it sold a 2 percent stake in the National Stock Exchange of India Ltd. to MS Strategic (Mauritius) Ltd. for $50 million.
* Regional language broadcaster Sun TV Ltd. rose 4.4 percent to 1,595.10 rupees after its net profit quadrupled
in the March quarter from a year ago.
MAIN TOP 3 BY VOLUME
* Reliance Natural Resources Ltd. on 26.2 million shares.
* IFCI Ltd. on 12.8 million shares.
* Tata Teleservices (Maharashtra) Ltd. on 9.4 million shares.
REI Agro Ltd. shot up 16 percent to a new high of 237.70 rupees after the rice processing firm said it would spin off rice, power and retail units into three separate entities. The company also more than doubled its March-quarter net profit to 296.50 million rupees. The stock eased to 228.75 rupees, still up 11.7 percent.
Kesoram Industries Ltd. stretched gains to touch a high of 461 rupees after the diversified firm's director said the company would spend 12 billion rupees in 2007/08 to set up tyre and cement plants.
Packaging materials maker Radha Madhav Corp. Ltd. fell 5 percent, the maximum daily limit, to 64.80 rupees after it reported net loss of 8.64 million rupees for March quarter against a net profit of 15.85 rupees a year ago.
Plastics maker Lanxess ABS Ltd. touched a new high of 208.85 rupees on expectation of an open offer after UK's Ineos group agreed to buy out the stake of the company's founders for an undisclosed amount. The stock was trading at 198 rupees, up 3 percent.
Tantia Constructions Ltd. extended gains to peak at 122.95 rupees, up 6.8 percent, after the company said it had secured construction projects worth 1.84 billion rupees in June. Tantia was up 4.26 percent at 120 rupees.
Nirma Ltd. touched a low of 181 rupees after the soaps and detergents maker posted an unaudited net loss of 934.5 million rupees for the March quarter. For the year-ago quarter, the company had reported a net profit of 951.7 million rupees on an unaudited basis
Kesoram Industries Ltd. jumped 10.5 percent to 448 rupees after media reports the firm was to be given to Aditya Birla group head Kumar Mangalam Birla by the chairman of the B K Birla group, Basant Kumar Birla. The latter altered his succession plan to give the company to the Aditya Birla group head.
Jai Parabolic Springs Ltd.rose by its maximum daily limit of 5 percent to 29.50 rupees ahead of its decision to merge with Jamna Auto Industries Ltd. and issue of one Jamna share for every two shares in the company. Jamna Auto shares were also up 5 percent at 46.10 rupees.
MSK Projects (India) Ltd.rose 4.7 percent to a high of 72.95 rupees after the construction firm said it secured a civil works order worth 231.2 million rupees for Bina refinery project in Gujarat. The shares are up 3.95 percent at 72.45 rupees.
IFCI Ltd.touched a new high of 52.20 rupees after the Reserve Bank of India allowed foreign investors to purchase shares in the company as such holdings had gone below the caution limit. The shares were trading nearly 4 percent higher at 51.90 rupees.
Motor Industries Co. Ltd.was down 4.5 percent at 4,474 rupees after its parent Robert Bosch GmBH raised the open offer price by 15 percent tp 4,600 rupees a share. Brokers said the market had expected the price to be raised to at least 5,000 rupees per share.
FDC Ltd. slipped 4.7 percent to 32.75 rupees after the drug maker posted a 43 percent fall in its Jan-March net profit to 43.2 million rupees.
Avon Organics Ltd. shares jumped 13.5 percent to 18.50 rupees after its plant in Maharashtra state got the U.S. Food and Drug Administration approval to make decongestant pseudoephedrine.
NIIT Ltd. touched a new high of 1,034.90 rupees after the company said it had tied up with Intel Corp. (INTC.O: Quote) to develop multi-core training curriculum, which brokers said, was likely to impact its revenues positively. The stock was trading at 1,013.50 rupees, up 7.4 percent.
Shares in Shree Ashtavinayak Cine Vision Ltd. extended gains after it said its board would meet on July 2 to consider raising $50 million through qualified institutional placements, convertible bonds or depositary receipts. The stock was up 3.4 percent at 272.45 rupees.
Drug maker Natco Pharma Ltd. touched a high of 149.90 rupees after it got the U.S. Food and Drug Administration approval to market its ondansetron hydrochloride tablets in in the United States. The shares were trading up 8 percent at 149.50 rupees.
Auto parts maker Gabriel India Ltd.rose 4.4 percent to 27.45 rupees after it said it plans to close its loss-making plant in Noida, near Delhi.
Liquor maker Dollex Industries Ltd. extended gains to hit a high of 142.05 rupees after the company said it had secured an order from Africa worth $5 million. The stock rose by its maximum daily limit of 5 percent.
Pratibha Industries Ltd. rose to a high of 240.50 rupees after the construction firm said it had secured a contract worth 264.4 million rupees. The stock was trading at 238.50 rupees, up 2.5 percent.
Hindustan Motors Ltd.rose 2.3 percent to 31.65 rupees after it said it planned to introduce a new vehicle in India with Japanese automaker Mitsubshi Motor Corp
Source: www.reuters.co.in
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