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Market Update : 
Realty, IT, Capital Goods Stocks Surge
Author: 123jump.com Staff
123jump.com
Last Update: 7:18 PM EDT May 15 2008

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Stocks in Mumbai trading surged higher, led by a sustained gains in capital goods, real estate and software export companies. Rupee continue to hover near 42.60 to a one U.S. dollar level. Rising crude prices and worries related to slower growth in the exports kept the ruppee in check. The Indian rupee has now dropped 10% from its peak in the late December. Larsen Toubro led the gainers in the Sensex with a rise of 5.4% to 2,983 and Reliance Industries added 3.5% to 2,619 rupees.

 
Reliance update

Reliance Industries surged 3.5% to 2,619 rupees on reports that the company plans to convert its fuel retail outlets into malls and multiplexes. Reliance Industries, the largest oil company is holding talks with its dealers in Uttar Pradesh for the same.

Reliance Communications jumped 5.4% to 589.50 rupees on reports its infrastructure arm Reliance Infratel has received Sebi''s approval for public issue.
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