BOMBAY, 1 February 2004 — On Monday the BSE closed at 6,064.10. Tata Motors jumped up on hopes of bumper quarterly results on the back of strong festive-season sales. Hero Honda, SBI, ACC, L&T, Reliance Industries, ITC, contributed to the rise in the BSE.
Bhel was up after the government owned power equipment announced that it had won a Rs.599-crore order to set up a 250-MW thermal power project in Maharashtra.
The FDC was frozen at the 10 percent upper limit of the circuit breaker.
For the quarter ended Dec. 31 2003, the company posted a net profit of Rs.19.15 crore (Rs.9.27 crore) on total income of Rs.65.46 crore (Rs.49.56 crore).
Bajaj Tempo (Rs.450.10) was frozen at the 10 percent upper limit of the circuit breaker.
On Tuesday the BSE ended at 5,922.11. Selling was seen across the board.
Tata Power, Reliance Energy, BSES, Reliance Industries, ITC, HLL, Tata Motors, Satyam Computers, Wipro, Cipla, Dr. Reddy’s Labs and Ranbaxy Labs all contributed to the fall in the Sensex.
Cement stocks, Grasim, Gujarat Ambuja, L&T, ACC were also down.
On the other hand, Bajaj Auto and HPCL ended in the positive zone on selective buying. Tata Chemicals saw selling. The company for Q2 posted a net profit of Rs.59.03 crore on a total income of Rs.489.52 crore.
On Wednesday, the BSE closed at 5,771.16. Tata Power, ONGC, Bajaj Auto, Gujarat Ambuja Cement, Satyam Computer, Infosys Tech were all major losers.
Wipro was down though the company posted good Q2 results. For the quarter ended Dec. 31, the company posted a consolidated net profit of Rs.274.30 crore (Rs.230.70 crore) on total revenues of Rs.1,512.40 crore (Rs.1,108.30 crore).
JK Industries faced sellers following disappointing quarterly results for Dec. 31. It registered a sharp 60 percent fall in net profit.
On Thursday, the BSE closed at 5,593.74.
Tata Motors declined despite having posted highly impressive quarterly results for period ended Dec. 31, 2003. It posted a net profit of Rs.210.88 crore (Rs.75.71 crore).
The company also declared an interim dividend of 40 percent for FY 2003-04.
Hindalco also ended lower when for the same quarter it posted a net profit of Rs.196 crore (Rs.177.40 crore), on a total income of Rs.1,707.20 crore (Rs.1,309.50 crore).
Tata Power Co ended with a modest gain in an otherwise volatile market whne for the quarter it posted a net profit of Rs.184.49 crore.
Satyam Computer was flat. On a consolidated basis, for the quarter ended Dec. 31, the Satyam group’s net profit stood at Rs.133.48 crore (Rs.99.28 crore) on total income of Rs.696.21 crore (Rs.584.68 crore).
On Friday, the BSE closed at 5,829.28. Reliance, Infosys, Tisco and Tata Motors were the big movers on the Sensex, while Tata Motors, BSES and Tisco were the top gainers.
One of the biggest gainers of the day was Maruti Udyog. The company reported a massive 183.3 percent rise in net profit on a 27 percent growth in total income.
Karur Vyasya Bank was another major gainer following its encouraging results for December quarter.
It posted a net profit of Rs.44.54 crore on total income of Rs.157.06 crore. IT stocks were also back in the reckoning after Nasscom posted an encouraging outlook for 2004.
In its report, Nasscom stated that the Indian IT industry could touch a total revenue of $15.5 billion in 2004 against $12 billion last year.
Total revenue of the IT software and service industry is estimated to be $15.5 billion in the current year.
Gold was at Rs.6130- per 10 gms and Silver was at Rs.9705/- per Kg.
US$ was at Rs.45.90, Pound Sterling at Rs.84.70, Euro at Rs.58.45, UAE Dhm at Rs.12.32, Kuwaiti Dinar at Rs.153.77, Bahraini Dinar at Rs.120.10, Saudi Riyal at Rs.12.07, Qatari Riyal at Rs.12.43 and Omani Riyal at Rs.117.61.
