Tuesday April 1, 01:00 PM
Recovery in sight? |
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By Equitymaster.com
Heavy selling activity across index heavyweights during the previous two hours of trade pushed the benchmark indices further into the red, although they are inching up back towards the dotted line. The overall market breadth is negative with losers outnumbering gainers by a ratio of 1.2 to 1 on the NSE. Key stocks from the IT, FMCG and energy sectors are currently in favour while those from the capital goods space are out of favour.
The BSE Sensex is trading at 15,520 (down 124 points) while the NSE Nifty is trading at 4,697 (down 37 points). The rupee is trading at 39.98 to the dollar.
Maruti Suzuki has announced its volume sales for the month and year ending March 2008. During FY08, the company sold a total number of 764,842 vehicle, the highest ever in its history. This marked a growth of 13.3% over the previous year (FY07). Exports grew by 35% YoY. This record sales milestone was accomplished with the help of the strong sales numbers recorded for Maruti Alto, which clocked sales of more than 227,000 units during the fiscal. During the month of March 2008, the company sold a total of 70,296 cars, as compared to 71,772 cars sold in March 2007. The stock is currently down 2 %, while peer Tata Motors is marginally up.
Infrastructure and construction major, GMR Infrastructure's subsidiary, Delhi International Airport Pvt. Ltd, has selected Indraprastha Apollo Hospitals to provide medical facilities as the Indira Gandhi International Airport. For the benefit of the passengers and employees at the airport, Indraprastha will provide four-bedded medical centre at both the domestic and international terminals, a casualty evacuation centre at the domestic airport, and advanced ambulances with paramedics, a 24-hour pharmacy at the domestic terminal along with other services. GMR's stock is currently down almost 1% along with its peer GVK (down 3%).
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