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Market Update : 
Sixth Gains in Stocks, Reliance, TCS Earnings
Author: 123jump.com Staff
123jump.com
Last Update: 5:31 PM EDT April 22 2008


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Reliance Industries fell after it reported 24% rise in earnings to 3,912 crore rupees. The earnings rose on higher crude oil refining margins and higher sale across various chemical segments. Tata Consultancy reported sequential profit decline on a marginal rise in revenue. The information services provider also issued a cautious guidance. TCS fell 10% and led decliners in the Sensex index.

 
Oil and Natural Gas Corporation rose 2.1% to 1,051 rupees.

DLF gained 3.5% to 674 rupees, Indiabulls Real Estate rose 1.7% to 503.90 rupees, Unitech increased 4.9% to 280.90 rupees, Purvankara Projects surged 6.1% to 277 rupees and Ansal Infrastructures climbed 10.6% to 165.60 rupees.

UltraTech Cement Company jumped 6.2% to 820 rupees, ACC gained 2.5% to 820 rupees, Binani Cement surged 5.6% to 86.05 rupees and India Cements gained 3.4% to 193 rupees.

HDFC gained 3.9% to 2,580 rupees, HDFC Bank rose 3.1% to 1,490 rupees, and Larsen & Toubro advanced 2.7% to 2,922 rupees.

New Issues

Kiri Dyes and Chemicals settled with 7% premium on its first day of trading at 158.55 rupees after it priced its share at 150 rupees. The stock debuted at 151 rupees a premium of 0.06% over initial price offer of 150 rupees.
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