Thursday April 4, 12:30 PM
Software, media in focus... |
|
By Equitymaster.com
The markets have lost some of its gains in the last one-hour. Software and Reliance (RELI.BO, news) group companies are trading actively. Second rung media stocks are also in demand. In the derivatives market, Nifty futures are trading at a marginal discount of 4 points compared to spot.
The BSE Sensex is at 3,513 (up 50 points) and the NSE Nifty is at 1,140 (up 16 points). The rupee is trading at Rs 48.89 per US dollar.
Bharat Heavy Electricals (BHEL (BHEL.BO, news) ) expects its turnover to rise by 10% in FY03, largely due to rising demand for its products from the state dominated power sector. The company currently has an order book worth Rs 122 bn. BHEL may tie up with National Thermal Power Corp. and Power Finance Corp to bid for overseas projects. It is also planning to set up an assembly line in the Middle East or Far East. For FY02, BHEL reported a 40% rise in earnings to Rs 4.4 bn and a 14.3% growth in revenues to Rs 72.6 bn. BHEL's stock is up marginally.
Kodak India (KDK.BO, news) has soared by 9% on news that it will export cameras produced at its Bangalore plant to the emerging markets of South East Asia and Latin America. The Bangalore plant has a total production capacity of 1.5 m cameras, of which 30% were exported. The company aims to tap the automatic camera segment, which accounts for 40% of the total market in India.
|
