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Sensex pares gains after hitting record highs; top fifteen stocks in focus

The 50-share Nifty index pared gains after hitting a fresh record high of 8350.60, weighed down by losses in autos, banks and oil & gas stocks.

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Nov 03, 2014, 11.11 AM IST
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The 50-share Nifty index pared gains after hitting a fresh record high of 8350.60, weighed down by losses in autos, banks and oil & gas stocks. 
The 50-share Nifty index pared gains after hitting a fresh record high of 8350.60, weighed down by losses in autos, banks and oil & gas stocks. 
NEW DELHI: The S&P BSE Sensex pared gains after hitting fresh record high of 27,969.82 in trade on Monday, as investors preferred to book profits at higher levels. The fall in the index was led by losses in M&M, RIL, HDFC and HDFC Bank.

Tracking the momentum, the 50-share Nifty index also pared gains after hitting a fresh record high of 8350.60, weighed down by losses in autos, banks, consumer durable and oil & gas stocks.

At 10:00 a.m.; the 30-share index was at 27,804.21, down 61 points or 0.22 per cent. It touched an all-time high of 27,969.82 and an intraday low of 27,789.40 in early trade.

The Nifty was at 8,305.30, down 16 points or 0.20 per cent. It touched an all-time high of 8,350.60 and an intraday low of 8,297.70 in early trade.

"Nifty closed at all-time high at 8322. Nifty future closed at a premium of 33 points indicating long carry forward. In October expiry, both derivative volume and open interest has increased indicating more participation," SMC Capital Ltd.

"Nifty is expected to remain in the range of 8200-8400 levels this week with positive bias. The options concentration continues to be at 8000-strike put option with an open interest of above 50 lakh shares," added the report. This is followed by the 8400-strike call option with above 30 lakh shares.

Here is a list of fifteen stocks which are in focus today:

Union Bank of India: State-run Union Bank of India said its net profit rose 78 per cent to Rs 371 crore in the three months to September, driven by lower provisioning and income tax write-back.

At 10:00 a.m.; the stock was trading 0.2 per cent lower at Rs 225.90.

IOC, HPCL, BPCL: Petrol is cheaper by Rs 2.41 per litre from Saturday and diesel by Rs 2.25 per litre which is its first price reduction by state-run retailers after the government allowed them to align its pump prices with the international oil market.

At 10:00 a.m.; IOC was trading 1.7 per cent higher at Rs 370, HPCL was up 2.1 per cent and BPCL was trading 0.7 per cent higher at Rs 730.35.

IGL: Indraprastha Gas Ltd, the sole retailer of CNG in Delhi, today said it is not revising rates despite input cost going up.

At 10:00 a.m.; the stock was trading 2.6 per cent lower at Rs 388.35.

Cairn India Ltd: Cairn India said it has started to inject polymer into wells to raise output from its largest oil field in the prolific Rajasthan block, Mangala.

At 10:00 a.m.; the stock was trading 0.2 per cent lower at Rs 284.65.

Godrej Consumer Products Ltd: The maker of Cinthol soap and Good Knight mosquito repellent, said fiscal second quarter stand-alone profit rose 21.7%, in line with analyst estimates.

At 10:00 a.m.; the stock was trading 1.4 per cent higher at Rs 981.25.

DCB: Having got promoters' shareholding down to 16.4 per cent following a Rs 250-crore QIP issue, private-sector DCB Bank has said it will be approaching the Reserve Bank again seeking more time to bring it further to the mandated 10 per cent

At 10:00 a.m.; the stock was trading 2.8 per cent lower at Rs 88.80.

Ranbaxy Laboratories: The drug firm on Friday said Luxembourg Stock Exchange (LSE) will delist the company's Global Depository Receipts programme with effect from December 15.

At 10:00 a.m.; the stock was trading 0.3 per cent higher at Rs 634.40.

Tata Chemicals Ltd: State-owned Life Insurance Corporation (LIC) has reduced its stake in Tata Chemicals by over two per cent by selling 52.87 lakh shares in the open market.

 
At 10:00 a.m.; the stock was trading 1.1 per cent higher at Rs 411.50.

Godrej Properties Ltd: Real estate private equity firm Milestone Capital Advisors has sold its entire stake in Godrej Properties residential project Godrej Prakriti in Kolkata for Rs 200 crore. The exit is valued at 2.3 times of the fund's earlier investment that was made five years ago, said two persons familiar with the development.

At 10:00 a.m.; the stock was trading 2.5 per cent higher at Rs 249.50.

Infosys Ltd: Software giant Infosys has pulled out of its proposed software development centre at an information technology park near the Bengaluru international airport.

At 10:00 a.m.; the stock was trading 1.2 per cent higher at Rs 4100.

Maruti Suzuki Ltd: Country's largest car-maker Maruti Suzuki India (MSI) on Saturday reported a 1.1 percent decline in total sales in October at 1,03,973 units as against 1,05,087 units in the same month last year.

At 10:00 a.m.; the stock was trading 1.3 per cent lower at Rs 3294.25.

M&M Ltd: Auto major Mahindra & Mahindra today reported a 15.39 per cent decline in total sales at 42,776 units in October. It had sold 50,558 units in the same month last year, the company said in a statement.

At 10:00 a.m.; the stock was trading 2.5 per cent lower at Rs 1270.75.

TVS Motor Company: The two-wheeler maker reported a 22 per cent increase in its total sales at 2,41,044 units in October 2014. The Chennai-based company had sold 1,97,905 units in the same month last year, TVS Motor Company said in a statement.

At 10:00 a.m.; the stock was trading 2.4 per cent higher at Rs 265.85.

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