BOMBAY, 5 August — Monday the BSE closed at 3,285.89 and the NSE Nifty at 1,061.20.
Reliance Petroleum was up following impressive quarterly results. For the quarter ended June 30, 2001, the refining giant posted a 52 percent rise in net profit to Rs.4.56 billion (Rs.3.00 billion) on sales of Rs.88.65 billion (Rs.59.83 billion).
Zee Telefilms fell further on selling pressure. The stock touched a 41-month low of Rs.68.15 in intra-day trades. Telco also lost ground due to persistent selling pressure.
DSQ Software saw some buying after a ruling that restrained both BSE and NSE from suspending the listing of DSQ’s shares. Earlier, BSE had announced that trading in the shares would be suspended from July 30, 2001 for non-compliance with listing rules.
Among FMCG stocks, Tata Tea firmed up after the company reported a 84.6 percent spurt in net profit.
On Tuesday the BSE closed at 3,329.28.
The result from Reliance Industries was announced. The company announced a 13.81 percent rise in Q1 net profit to Rs.6.18 billion (Rs.5.43 billion) on a 4 percent rise in net sales to Rs.63.90 billion (Rs.61.36 billion). The rise in RIL’s Q1 net profit was mainly due to downward revision in the net profit of the previous quarter ended June 2000.
On Wednesday, the BSE Sensex closed at 3,284.17 and the NSE at 1,063.90.
Infosys, Satyam, NIIT, all saw selling.
Gujarat Ambuja Cements had only sellers despite its net profit of Rs.1,851.4 million (Rs.1,745,7 million) for the year ending June 30, 2001. Grasim saw only sellers though it had announced a 72.03 percent rise in net profit to Rs.1,022.4 million. Hindalco lost ground after a 8.36 percent drop in net profit to Rs.1,611.1 million (Rs.1,758.00 million) for the first quarter.
Dr Reddy’s Laboratories touched a high of Rs. 1,849 in intra-day trades after the company posted net profit of Rs.535 million (Rs.195.9 million) for the first quarter. Himachal Futuristic (HFCL) lost ground, after a 66.75 percent drop in net profit. Among media stocks, Tips Industries, for Q1 posted a loss of Rs.109.8 million (net profit Rs.30.4 million).And Sri Adhikari Brothers posted a 17.60 percent drop in net profit.
On Thursday the BSE closed at 3,298.78 and the NSE at 1,066.55. Satyam Computer also rose after its non-executive director denied rumors that he was selling his stake in the company. Infosys Technologies was also up.
BSES lost ground on selling pressure. Reliance Industries has offered to sell its entire 50 percent stake in the Hirma Power Project in Orissa to BSES.
Dr Reddy’s Labs continued to see buying and reached a high of Rs.1,860 in opening trades. Glaxo, Ranbaxy Labs and HLL lost considerable ground.
On Friday the BSE closed at 3,325.38 and the NSE at 1,073.65.
FIIs put in a net Rs.1,220 million.
Most tech stocks were up. Castrol was up 8.80 percent to Rs.229.25. Dr Reddy’s Laboratories (up 2.12 percent to Rs.1,870.90) moved up after the company announced that the licensing agreement with Novartis Pharma AG had received US regulatory clearance and will become effective July 30, 2001.
ACC was up 1.85 percent to Rs.143.10. Reliance Industries recovered from an intra-day low of Rs.310.10 after the company announced a revision of prices of some of its products. It raised the price of partially oriented yarn by 3 percent to Rs.62.21 per kg from Rs 60.40 and polyester staple fiber by 2.05 percent to Rs.49.75 per kg from Rs.48.75. It cut the price of polyethylene terephthalate by 3.33 percent to Rs. 58 per kg from Rs.60.
Turnover on BSE rose to Rs.1,0025.6 million (Rs.9408.9 million on Aug. 2, 2001) from 56.7 million shares traded. Of the 1,428 issues traded, advances outnumbered declines with 731 gainers and 558 losers. 139 issues remained unchanged.
Gold was at Rs.4,385/- per 10 gms and silver was at Rs.7,215/- per Kg.
US dollar vis-a-vis Indian rupee was at Rs. 47.12, pound sterling at Rs.67.37, Deutsche mark at Rs.21.24, euro at Rs.44.55, UAE dirham at Rs.12.82, Kuwaiti dinar at Rs.153.42, Bahraini dinar at Rs.124.93, Saudi riyal at Rs.12.56, Qatari riyal at Rs.12.94 and Omani riyal at Rs.122.34.