The market has made a sharp u turn from the day’’s low as significant buying witnessed in the selective scrips Metal, Oil & Gas and Auto stocks. However, BSE Mid Cap and Small Cap are still trading lower. The BSE Sensex is now above the 15,800 mark.The overall market breadth is negative, as 426 stocks are advancing whereas 2148 stocks that are declining.

ACC reported the top gainer from the BSE Sensex pack. It is trading higher by (3.88%) at Rs.763.35 while L&T trading down by (10.28%) at Rs.2,681.05.

At 2.31PM BSE Sensex is at 15,812.82 down by 162.70 points and Nifty is at 4,766.30 down by 5.30 points. The BSE Mid Cap is lower by 129.72 points to 6,674.47 and the Small Cap slipped by 289.75 points to 8,119.43.

The BSE Capital Goods index is the top loser today. It is trading with a loss of 867.82 points at 13,157.30. The main losers are L&T down by (10.28%) at Rs.2,681, BHEL decreased by (5.39%) at Rs.1,916.50 followed by Siemens and Praj Industries dropped by (4.13%) and (2.17%) to Rs.656.10 and Rs.144.30.

The most active shares on NSE are Reliance trading at Rs.2,218.70 with a total traded quantity of 3660145 shares followed by L&T trading at Rs.2,678 with a total traded quantity of 2468333 shares.

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 The Chhattisgarh government has reported in the contract award to China National equipment and tools Import and Export corporation (CMEC) to create 600MW thermal power place in Korba region. Bharat Heavy Electricals Ltd (BHEL) lost the bid to the Chinese corporation, which won the agreement by quoting the lowly rate of Rs 3.61 crore.

The choice to cancel the Letter of Intent (LoI) given to the CMEC was in use after a far above the ground level meeting, Chairman of Chhattisgarh State Electricity Board (CSEB) Rajib Ranjan said. CMEC could be blacklisted for the holdup and negation to take up the development. CSEB denied to consider CMEC’’s suggestion and invoke the bank promise of Rs 35 crore deposit as bid money. Instead of calling a clean tender, the direction decisive to award the following lowly bidder of the mission, BHEL. BHEL has earlier bag the procurement and creation (EPC) indenture for establish two units of 250MW every at Korba (East) thermal power project (TPP).
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Satyam Computer Services Ltd on Jan 21reported an augment of 28.58 per cent in its net income at Rs 433.63 crore for third quarter ended December 31, 2007, next to Rs 337.23 in the matching quarter of 2006.Total earnings of the collection rose 35.58 per cent at Rs 2266.05 crore for the quarter under appraisal, compare to Rs 1671.29 crore in the same period last year, Satyam said in a filing to the Bombay Stock Exchange.

The company has report 35.81 per cent rise in profits at Rs 2,179.27 crore from Rs 1,604.60 during the last third quarter ended, 2006.Shares of the company were trade at Rs 361, down 3.11 per cent on the BSE in daybreak trade.
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United Phosphorus Ltd has informed that the Board of Directors of the Company at its meeting held on December 20, 2007, the Board has approved the Scheme of Arrangement fortransfer of Haldia Division of SWAL Corporation Ltd (100% subsidiary of the Company) with the Company……………………….

The scheme shall be subject to necessary approvals and sanctions of the Honourable High Court of Judicature at Mumbai and Honourable High Court of Gujarat at Ahmedabad………………….

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