BSE at 17,025.93 points.
* Jain Irrigation Systems Ltd extended gains to a high of 725 rupees after the company said it acquired 69.75 percent in Switzerland's Thomas Machines for an undisclosed sum.
* Shares of telecom companies were down on apprehension of a delay in vacation of radio frequency by the defence forces due to insufficient allocation in the federal budget to set up an optic fibre cable network. Bharti Airtel was down 5.2 percent, Idea Cellular was down 4.3 percent while Reliance Communications was down 3.5 percent.
* Bank shares were down on investor concern over how lenders would be reimbursed for the 600 billion rupees farm loan write-off proposed in the federal budget. The BSE Bank index was dowm 5.2 percent, while State Bank of India fell 5.8 percent, ICICI Bank 5.7 percent, Canara Bank was down 6.3 percent.
* Refex Refrigerants Ltd was up 2.5 percent to 160.50 rupees after the refrigerant gases maker acquired 51 percent in Singapore's Kaltech Engineering and Refrigeration Pte Ltd for 310 million rupees, with an option to acquire 39 percent more.
* Shares of drug makers and healthcare services firms were firm on strong volumes as the sector gained from a cut in excise duty and a 5-year tax holiday for hospitals. Fortis Healthcare, Aurobindo Pharma (ARBN.BO: Quote), Apollo Hospitals and Aventis Pharma were trading 1-5 percent higher.
* Shares of auto firms were among the only positive stocks in the BSE Sensex, after the government proposed cutting excise duties on buses and chassis, small cars and two-wheelers. Maruti Suzuki (MRTI.BO: Quote), Mahindra & Mahindra Bajaj Auto and Tata Motors were up 1-3 percent.
* Jain Irrigation Systems Ltd extended gains to a high of 725 rupees after the company said it acquired 69.75 percent in Switzerland's Thomas Machines for an undisclosed sum.
* Shares of telecom companies were down on apprehension of a delay in vacation of radio frequency by the defence forces due to insufficient allocation in the federal budget to set up an optic fibre cable network. Bharti Airtel was down 5.2 percent, Idea Cellular was down 4.3 percent while Reliance Communications was down 3.5 percent.
* Bank shares were down on investor concern over how lenders would be reimbursed for the 600 billion rupees farm loan write-off proposed in the federal budget. The BSE Bank index was dowm 5.2 percent, while State Bank of India fell 5.8 percent, ICICI Bank 5.7 percent, Canara Bank was down 6.3 percent.
* Refex Refrigerants Ltd was up 2.5 percent to 160.50 rupees after the refrigerant gases maker acquired 51 percent in Singapore's Kaltech Engineering and Refrigeration Pte Ltd for 310 million rupees, with an option to acquire 39 percent more.
* Shares of drug makers and healthcare services firms were firm on strong volumes as the sector gained from a cut in excise duty and a 5-year tax holiday for hospitals. Fortis Healthcare, Aurobindo Pharma (ARBN.BO: Quote), Apollo Hospitals and Aventis Pharma were trading 1-5 percent higher.
* Shares of auto firms were among the only positive stocks in the BSE Sensex, after the government proposed cutting excise duties on buses and chassis, small cars and two-wheelers. Maruti Suzuki (MRTI.BO: Quote), Mahindra & Mahindra Bajaj Auto and Tata Motors were up 1-3 percent.
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