The News International Team
03:00pm Gayatri Projects rally
Gayatri Projects spiked 6 percent as the company in joint venture with SPL Infrastructure has bagged new order worth Rs 158.92 crore from NHAI, said the flagship company of the Gayatri Group.
The project work includes improvement and augmentation of Thanjavur-Pudukottai section 2 laning with Paved Shoulders for 55.228 km of NH-226 in the state of Tamil Nadu under NHDP-IV on EPC mode.
02:50pm Market Check
The market extended gains in last hour of trade with the Sensex rising 85.20 points to 27081.07 and the Nifty climbing 21.90 points to 8107.60 supported by ITC that gained 1.7 percent.
About 1734 shares have advanced, 1244 shares declined, and 106 shares are unchanged.
02:30pm Oracle Financial in demand
Investors rushed to buy more shares of Oracle Financial Services Software after it declared hefty amount of dividend. The stock rallied as much as 10.5 percent to touch a record high of Rs 4,080 on the Bombay Stock Exchange.
“The board of directors of the company has declared an interim dividend of Rs 485 per equity share,” said the company in its filing.
The company will distribute dividend worth Rs 4,081.3 crore to 8,41,50,904 equity shares.
For the year ended March 31, 2014, the company had reported cash and bank balances of Rs 6,672.6 crore, increased from Rs 5,471 crore in previous financial year.
02:00pm The market continued to be in a tight range in afternoon trade as investors are cautious ahead of July industrial output and August CPI data. The Sensex rose 3.51 points to 26999.38 while the Nifty fell 2.60 points to 8083.10 but the broader markets outperformed benchmarks.
The BSE Midcap and Smallcap indices gained 0.2 percent and 0.6 percent, respectively. About 1633 shares have advanced, 1290 shares declined, and 101 shares are unchanged.
Cipla shares rallied 6 percent followed by ITC, HDFC, Maruti Suzuki and Hero Motocorp with 1-1.5 percent whereas Hindalco Industries, L&T, Sun Pharma, NTPC, Coal India and Tata Power declined 1-3 percent.
HDFC, Force Motors, Sun Pharma, Coromandel International, Lovable Lingerie, SBI, Motherson Sumi, Cipla and Tata Steel were most active shares.
Index of industrial production (IIP) for July is likely to fall to 1.7 percent while the consumer price index (CPI) for August may soften to 7.7 percent, says a CNBC-TV18 poll. Both the macro-economic data points will be released post market hours today and between, the CPI will be crucially watched even from a bond market perspective.