Cipla gains 3%, Wipro & DRL drag; Nifty still below 7800
Oil PSUs gain on talk of fuel subsidy support
Shares of state-owned oil marketing companies such as Hindustan Petroleum, Bharat Petroleum and Indian Oil Corporation were trading 2-4% higher on talk that the government has sought fuel subsidy support from upstream oil companies for the first quarter ended June 30, 2014.
Bajaj Electricals dips as Q1 profit lags estimates
Bajaj Electricals has dipped nearly 8% to Rs 308, falling 11% from intra-day high on BSE, after reporting a lower-than-expected net profit of Rs 6 crore for the quarter ended June 2014 (Q1), mainly due to poor performance by the consumer durables segment and higher interest burden. The company had profit of Rs 66 lakh in the same quarter last year.
Force Motors gains over 7% after huge block deal
Force Motors has rallied over 7% to Rs 567 after huge block deal executed on the counter on the Bombay Stock Exchange (BSE).
The stock opened at Rs 534 and touched a high of Rs 584 so far. Till 1100 hours, around 625,000 shares changed hands as against an average 173,000 shares that were traded daily in past two weeks on BSE.
Shares of Gulf Oil Corporation has tanked 16 percent intraday after its demerged lubricant business is listed on the bourses today as Gulf Oil Lubricants India. The parent company now comprises only real estate, mining and explosives businesses. The new listed entity will manage standalone lubricant business in India under the ‘Gulf Oil’ brand.
For more details call us: 0731-6669900
Oil PSUs gain on talk of fuel subsidy support
Shares of state-owned oil marketing companies such as Hindustan Petroleum, Bharat Petroleum and Indian Oil Corporation were trading 2-4% higher on talk that the government has sought fuel subsidy support from upstream oil companies for the first quarter ended June 30, 2014.
Bajaj Electricals dips as Q1 profit lags estimates
Bajaj Electricals has dipped nearly 8% to Rs 308, falling 11% from intra-day high on BSE, after reporting a lower-than-expected net profit of Rs 6 crore for the quarter ended June 2014 (Q1), mainly due to poor performance by the consumer durables segment and higher interest burden. The company had profit of Rs 66 lakh in the same quarter last year.
Force Motors gains over 7% after huge block deal
Force Motors has rallied over 7% to Rs 567 after huge block deal executed on the counter on the Bombay Stock Exchange (BSE).
The stock opened at Rs 534 and touched a high of Rs 584 so far. Till 1100 hours, around 625,000 shares changed hands as against an average 173,000 shares that were traded daily in past two weeks on BSE.
Shares of Gulf Oil Corporation has tanked 16 percent intraday after its demerged lubricant business is listed on the bourses today as Gulf Oil Lubricants India. The parent company now comprises only real estate, mining and explosives businesses. The new listed entity will manage standalone lubricant business in India under the ‘Gulf Oil’ brand.
For more details call us: 0731-6669900
Click here: capitalstars.com
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