Friday May 24, 02:30 PM
Zip, zap, zoom... |
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By Equitymaster.com
Caution and nervousness has given way to optimism on the bourses today. The indices have shot up as heavy buying is seen in the heavyweights. The Sensex had closed at a six-month low on Thursday, sliding nearly 10 per cent over eight days. The movement today is a welcome respite.
The BSE Sensex is at 3,232 (up 118 points) and the NSE Nifty is at 1,061 (up 34 points). The rupee is trading at Rs 49.00 per US dollar.
Titan Industries has announced that is will hire Mckinsey for organisation wide consulting to improve operating efficiencies. The company has also announced new strides in innovation. The company unveiled the thinnest watch ever made just recently. The company claims to have developed this technology completely indigenously. Impressive third quarter results and new strategic initiatives have generated interest in the stock. The scrip has gained nearly 9.1% today.
MIRC Electronics, the maker of Onida TV, has stated that it expects its pre-tax profits to double on account of sports event (World Cup Soccer) driven sales. The company expects its topline to grow by nearly 54%. The stock has gone up nearly 5%. Other major gainers are Satyam Computers, Ranbaxy, Zee Tele (ZEE.BO, news) , Tata Infotech (TTIN.BO, news) , NOCIL (NOCI.BO, news) and SAIL.
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