The Nifty was quiet in opening trade today, with a positive bias. Asian markets too were trading with marginal gains. Metal, oil & gas and select financials were on buyers' radar while ADAG, realty and private bank stocks were under pressure.
Tata Steel gained 2% after 1.5% fall in initial trade, as the company's Q3 consolidated net profit was up by 122% at Rs 1,003 crore on year-on-year basis but EBITDA margin was at 11.6% as against 13% in same quarter the last year. Raw material costs increased at Rs 10,270 crore versus Rs 8,030 crore, YoY.
Among frontliners, DLF, SAIL, Reliance Capital, Reliance Power, Reliance Infrastructure, IDFC, Tata Motors, Axis Bank, HDFC and ICICI Bank were witnessing selling pressure.
However, L&T, Tata Power, BPCL, Infosys, TCS, ITC and HUL were supporting the markets.
At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,314, up 40 points and the 50-share NSE Nifty rose 8 points to 5,489.
However, the Nifty February futures were trading at 9 points discount. The CNX Midcap fell just 10 points at 7,730.
Midcap & Smallcap space:
Hexaware shot up 5% as its adjusted net profit increased 135.7% at Rs 39.6 crore in fourth quarter of CY10 versus Rs 16.8 crore in previous quarter.
MIC Electronics and Thomas Cook were up 5% each. Escorts was up 2.5%.
M&M Financial up 1% as the compnay launched QIP worth Rs 426 crore, according to sources.
Tata Steel gained 2% after 1.5% fall in initial trade, as the company's Q3 consolidated net profit was up by 122% at Rs 1,003 crore on year-on-year basis but EBITDA margin was at 11.6% as against 13% in same quarter the last year. Raw material costs increased at Rs 10,270 crore versus Rs 8,030 crore, YoY.
Among frontliners, DLF, SAIL, Reliance Capital, Reliance Power, Reliance Infrastructure, IDFC, Tata Motors, Axis Bank, HDFC and ICICI Bank were witnessing selling pressure.
However, L&T, Tata Power, BPCL, Infosys, TCS, ITC and HUL were supporting the markets.
At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,314, up 40 points and the 50-share NSE Nifty rose 8 points to 5,489.
However, the Nifty February futures were trading at 9 points discount. The CNX Midcap fell just 10 points at 7,730.
Midcap & Smallcap space:
Hexaware shot up 5% as its adjusted net profit increased 135.7% at Rs 39.6 crore in fourth quarter of CY10 versus Rs 16.8 crore in previous quarter.
MIC Electronics and Thomas Cook were up 5% each. Escorts was up 2.5%.
M&M Financial up 1% as the compnay launched QIP worth Rs 426 crore, according to sources.
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