Markets continue to hold on to their gains as the buying momentum prolongs. The IT, FMCG, Auto and the Realty stocks are in demand on the other hand, the metals and the consumer durable stocks are slightly under pressure.
Among the 30-components of Sensex, 27 stocks are in the green and only Bharti, JP Associates and Hindalco were in the negative terrain. Reliance Industries, L&T, ICICI Bank, HDFC and HUL were among the major gainers.
At 3:08 pm (IST), the BSE 30-share Sensex gained 200 points at 16,942 and the NSE Nifty surged 56 points at 5,032.
Shares of Allcargo Global have shot up by over 7% to Rs892 after reports stated that Blackstone Group LP will raise its stake in the company.
Allcargo Global will issue 1.51mn warrants to Blackstone Group LP that are convertible as of September 26, 2009 to equity at Rs934 per share, increasing holding by 6.8%.
Blackstone would have a 17.25% stake in Allcargo Global after the conversion, according to reports.
Shares of Cinemax have surged over 8% to Rs63.7 after reports stated that the company plans to add four more screens with the launch of its new property at Ghatkopar.
The stock opened at Rs60 and made an intra-day high of Rs64.8 and a low of Rs59.2. Total traded volumes stood at 0.11mn shares.
Shares of Man Industries have gained by 2.5% to Rs54.15 after reports stated that the company is exploring the potential to set up a manufacturing unit in the US at
US$200mn.
The stock opened at Rs53.2 and made an intra-day high of Rs55 and a low of Rs53.2. Total traded volumes stood at 0.2mn shares.
Shares of Alstom Projects have surged by over 3.5% to Rs564 after the company announced that it received an Rs5.6bn contract in consortium with global players for providing signaling system to the Bangalore Metro Rail Corporation.
The stock opened at Rs544 and made an intra-day high of Rs572 and a low of Rs542. Total traded volumes stood at 0.5mn shares.
Shares of Tata Motors have gained by 2.5% to Rs616 after report stated that its wholly-owned subsidiary received loan of Rs788mn from the UK government for its Rs1.97bn electric car programme.
The stock opened at Rs599 and made an intra-day high of Rs619 and a low of Rs591. Total traded volumes stood at 3.8mn shares.