Sensex Up 0.2%; Record Sales at Bajaj Auto

Devan Biswas
02 Sep, 2010
New York City

Stocks in Mumbai trading closed higher after international markets surged. The Sensex closed up 0.2%. Gold traded up but demand dwindled on record high prices. Bajaj Auto Ltd reported record monthly sales in August.

[R]5:45 PM Mumbai – Stocks in Mumbai trading closed higher after international markets surged. The Sensex closed up 0.2%. Gold traded up but demand dwindled on record high prices. Bajaj Auto Ltd reported record monthly sales in August.[/R]

Stocks in Mumbai closed higher following the gains in New York and Europe after manufacturing expanded in the U.S. and China and Australia reported quarterly GDP growth of 1.2%.

The Sensex index increased 32.44 or 0.2% to 18,238.31 and Reliance Industries increased its stake in EIH Limited by 0.68%.

Rupee closed at 46.71 for one dollar and 59.04 for one euro. Gold edged up in Mumbai trading to Rs 19,158 for 10 grams.

Gainers & Losers

Adani Power Limited declined 3.5% to Rs 133.15 after the Gujarat Electricity Regulatory Commission has asked the company to supply 1,000 megawatt power to Gujarat Urja Vikas Nigam at Rs 2.35 per unit for 25 years.

Bajaj Auto Ltd. rose 1.1% to Rs 2,780.00 after the two & three-wheeler vehicles maker reported record monthly sales in August.

Bajaj Electricals Limited gained 3.3% to Rs 304.00 after the appliances company secured new orders worth over Rs 408 crore.

EIH Limited increased 3.6% to Rs 148.90 after Reliance Industries bought an additional 0.68% in EIH, raising its holding to 14.8% in hotel chain.

GAIL (India) Limited declined 2.2% to Rs 457.90 after the natural gas distributor turned ex-dividend of Rs 5.50 per share for the year ended March.

Hero Honda Motors Limited slipped 3.3% to Rs 1,699.75 after the two wheelers maker reported a sales increase of 2.3% to 424,000 units in August.

HDFC Bank Limited gained 1.4% to Rs 2,181.25 after the American depository receipts surged 4.2% to $166.44 on the New York Stock Exchange, on September 1.

IFCI Limited increased 1.6% to Rs 60.35 after the sell its 5.44% stake in National Stock Exchange of India within two months.

Jaiprakash Associates Limited soared 4.3% to Rs 114.70 after the cement company reported sales rose 51% at 1.08 million tons in August 2010 from a year ago.

J.L. Morison (India) Limited rose 1% to Rs 374.90 after the toiletry and personal healthcare turned ex-dividend for a dividend of Re 1 per share for the year ended March 2010.

Mahanagar Telephone Nigam Limited gained 1.4% to Rs 63.55 after the telecommunications services American depository receipts, rose 7.22% to $2.82 on the New York Stock Exchange on September 1.

Ranbaxy Laboratories Limited increased 1.2% to Rs 503.85 after the pharmaceutical company said it opened a new factory at Johannesburg in South Africa.

Tata Power Company Limited rose 1.6% to Rs 1,258.70 after the integrated power utilities said consortium of the company won bid for a geothermal project in Indonesia.

Tata Communications Limited fell 0.3% to Rs 347.55 after the global voice and carrier data company''s American depository receipt rose 7.45% to $15.15 on the New York Stock Exchange on September 1.

Reliance Broadcast Network Ltd. surged 4.9% to Rs 116.00 after the entertainment & multi media said board approved raising over Rs 400 crore through preferential issue of equity shares.

Unity Infraprojects Limited gained 1.5% to Rs 116.20 after the engineering and construction bagged a contract worth Rs 103.38 crore to build campus for National Institute of Fashion Technology at Navi Mumbai.

Welspun Corp Limited spurted 3.1% to Rs 246.15 after the arc welded pipes said it recently won new pipe orders aggregating Rs 700 crore from domestic and international markets.