The market extended its southward journey for the second trading session of the October month with the Sensex falling 296.02 points or 1.11 percent to 26271.97 on Tuesday. The Nifty closed way below the 7900, down 93.15 points or 1.17 percent to 7852.40. About 1120 shares advanced while 1762 shares declined on the BSE. Hindalco Industries, Sesa Sterlite, Cipla, Dr Reddy's Labs, HDFC, DLF, Jindal Steel and Cairn India were top losers, falling 3-6 percent while NTPC, Gail India and Power Grid bucked the trend, up 1-1.5 percent followed by Tata Motors, Wipro and Tata Power with marginal gains.
Today Stock Tips
Kitex Garments Limited for long term buy
Cmp:338rs
Target:475rs
Return percentage:40%
Duration:9-12 months
5 year CAGR return expected:25-30%
5 year target potential range:1031rs-1254rs
Kitex Garments Ltd manufactures toddler wear for most of the international brands such as MotherCare, Toys R Us, Gerber etc and is ranked as the third largest company of such type in the world.Company also supplies to jockey.Group employees to over 8000 peeps.It is the only company in the world which uses Acutex 1 quality of input.Add up more safety features like 100% certified safe process and organic dyes using threads from the number 1 codes etc which makes it the most favorable supplier for infant clothes.The company has to its credit the Best Vendor Award from Toys R Us and Gerber for the past couple of years(among over 280 rivals).
Stock Market News & Updates 06 June 2012 With the news coming in flash that Prime Minister M M Singh is going to have a meet with the ministers regarding the boost of infrastructure of India the Stock market sensex today gained a up of 411 points while the nifty closed at at 4997, up 134 points.
Indian Equity & Capital stock market is expected to trade on the positive bias today. 50 shares index Nifty is expected to make a up turn today the major support for the nifty is at 5800 & resistance is at 6010. The Nifty may show a rapid move above the 5980 level.
On BSE, 13,000 shares were traded in the counter as against average daily volume of 13,481 shares in the past one quarter.
The stock hit a high of Rs 505.20 so far during the day, which is a record high for the counter.
The scrip opened at Rs. 3203.00 and has touched a high and low of Rs. 3289.80 and Rs. 3203.00 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3944.00 on 27-Apr-2012 and a 52 week low of Rs. 2349.00 on 20-Dec-2011.
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Indian Rupee lower at 61.93 per dollar
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The partially convertible rupee opens at 61.93 per dollar compared with its previous close of 61.88