The benchmark indices Sensex and Nifty have shed most of their morning gains due to heavy selling in IT majors and strong resistance encountered by a few old economy blue chip stocks at higher levels
While the Sensex, which rose to a high of 13,274.72 earlier this morning, is up with a gain of 0.31% or 40.67 points at 13,152.24, the Nifty, which has eased to 3950.60 from a high of 3991, is up just marginally (by 3.40 points) over its previous closing mark.
Satyam Computer Services Limited has posted a profit after taxation of Rs 5759.10 million for the quarter ended June 30, 2008 as compared to Rs 3891.40 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18209.30 million for the quarter ended June 30, 2007 to Rs 25565.20 million for the quarter ended June 30, 2008.
The Group has posted a consolidated profit after taxation & minority interest of Rs 5477.00 million (as per Indian GAAP) for the quarter ended June 30, 2008 as compared to Rs 3783.20 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18933.90 million for the quarter ended June 30, 2007 to Rs 26539.50 million for the quarter ended June 30, 2008.
The Satyam Computer Services stock has taken a severe beating this morning. The stock, which opened at Rs 422 and edged higher to Rs 429.85 in early trade, crashed to Rs 380.70 subsequently on selling pressure. At present, the stock is down with a loss of 7.35% at Rs 383.50.
Wipro Limited has posted a net profit of Rs 5460 million for the quarter ended June 30, 2008 where as the same was at Rs 6714 million for the quarter ended June 30, 2007. Total Income is Rs 48074 million for the quarter ended June 30, 2008 where as the same was at Rs 37768 million for the quarter ended June 30, 2007. Wipro has lost 5.8% at Rs 379.80.
Other IT majors in the Sensex, Infosys Technologies and Tata Consultancy Services, are also down in the red with sharp losses. While the former is down with a loss of 4.15% at Rs 1517, the latter has slipped by 3.65% to Rs 750.60.
Tata Steel (down 3.9%), ACC (down 2.15%) and Hindalco (down 1.1%) are the other major losers in the Sensex.
Ambuja Cements, Larsen & Toubro, Reliance Communications, Hindustan Unilever and Reliance Industries have lost 0.4% - 1%. Bharti Airtel is down with a small loss at Rs 748.35.
ICICI Bank rules firm with a sharp gain of 5.5%. HDFC is up by a little over 4.5%. HDFC Bank trades firm around Rs 1000 (up 4.2%).
Reliance Infrastructure, BHEL, State Bank of India, Jaiprakash Associates, DLF, ITC, ONGC and Tata Motors are up by 1% - 2.5%. NTPC, Mahindra & Mahindra and Grasim Industries also trade firm. Bharti Airtel and Maruti Suzuki are up marginally over their previous closing levels.
Indian Bank, Essar Shipping, Gujarat Petronet, Ansal Infrastructure, Nagarjuna Construction Company, Axis Bank, Yes Bank, Hindustan Construction Company, IDFC, Nagarjuna Fertilizers & Chemicals, GE Shipping, Adani Enterprises, HDIL, IndusInd Bank, Rolta India, Kotak Bank and Punjab National Bank have gained 3% - 7% today on strong buying support.
Biocon, Tata Chemicals, Sterlite Industries, Tech Mahindra, HCL Technologies, Cairn India, United Spirits, Educomp Solutions, Sesa Goa, Hindustan Zinc, i-Flex Solutions, Bajaj Hindustan and Piramal Healthcare are among the prominent losers from BSE 'A' Group.
While the Sensex, which rose to a high of 13,274.72 earlier this morning, is up with a gain of 0.31% or 40.67 points at 13,152.24, the Nifty, which has eased to 3950.60 from a high of 3991, is up just marginally (by 3.40 points) over its previous closing mark.
Satyam Computer Services Limited has posted a profit after taxation of Rs 5759.10 million for the quarter ended June 30, 2008 as compared to Rs 3891.40 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18209.30 million for the quarter ended June 30, 2007 to Rs 25565.20 million for the quarter ended June 30, 2008.
The Group has posted a consolidated profit after taxation & minority interest of Rs 5477.00 million (as per Indian GAAP) for the quarter ended June 30, 2008 as compared to Rs 3783.20 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18933.90 million for the quarter ended June 30, 2007 to Rs 26539.50 million for the quarter ended June 30, 2008.
The Satyam Computer Services stock has taken a severe beating this morning. The stock, which opened at Rs 422 and edged higher to Rs 429.85 in early trade, crashed to Rs 380.70 subsequently on selling pressure. At present, the stock is down with a loss of 7.35% at Rs 383.50.
Wipro Limited has posted a net profit of Rs 5460 million for the quarter ended June 30, 2008 where as the same was at Rs 6714 million for the quarter ended June 30, 2007. Total Income is Rs 48074 million for the quarter ended June 30, 2008 where as the same was at Rs 37768 million for the quarter ended June 30, 2007. Wipro has lost 5.8% at Rs 379.80.
Other IT majors in the Sensex, Infosys Technologies and Tata Consultancy Services, are also down in the red with sharp losses. While the former is down with a loss of 4.15% at Rs 1517, the latter has slipped by 3.65% to Rs 750.60.
Tata Steel (down 3.9%), ACC (down 2.15%) and Hindalco (down 1.1%) are the other major losers in the Sensex.
Ambuja Cements, Larsen & Toubro, Reliance Communications, Hindustan Unilever and Reliance Industries have lost 0.4% - 1%. Bharti Airtel is down with a small loss at Rs 748.35.
ICICI Bank rules firm with a sharp gain of 5.5%. HDFC is up by a little over 4.5%. HDFC Bank trades firm around Rs 1000 (up 4.2%).
Reliance Infrastructure, BHEL, State Bank of India, Jaiprakash Associates, DLF, ITC, ONGC and Tata Motors are up by 1% - 2.5%. NTPC, Mahindra & Mahindra and Grasim Industries also trade firm. Bharti Airtel and Maruti Suzuki are up marginally over their previous closing levels.
Indian Bank, Essar Shipping, Gujarat Petronet, Ansal Infrastructure, Nagarjuna Construction Company, Axis Bank, Yes Bank, Hindustan Construction Company, IDFC, Nagarjuna Fertilizers & Chemicals, GE Shipping, Adani Enterprises, HDIL, IndusInd Bank, Rolta India, Kotak Bank and Punjab National Bank have gained 3% - 7% today on strong buying support.
Biocon, Tata Chemicals, Sterlite Industries, Tech Mahindra, HCL Technologies, Cairn India, United Spirits, Educomp Solutions, Sesa Goa, Hindustan Zinc, i-Flex Solutions, Bajaj Hindustan and Piramal Healthcare are among the prominent losers from BSE 'A' Group.
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