Highest Turnover Ever in Indian Stock Markets 28 Jan 2010

28 Jan 2010
Highest Turnover ever in Market : 1.92 Trillion
As wrote in morning edition, market gave volatility as per Banking index.Those who had bet on 4900 call initially, the had pocketed nearly double.Market gained after consecutive 6 days fall.Nifty intraday high was 4929.90 but Inflation pulled indices down and closed 4867.25 gained 14.15 points.

After easing for three weeks in a row, food inflation inched up to 17.40 %. for the week ended January 16, a development that may prompt the Reserve Bank to hike key policy rates to tame the rising prices.
Food inflation, which was falling after touching the decade's high of about 20 per cent in December, has risen again, driven mainly by rising prices of eggs and vegetables. It stood at 16.81 per cent during the week ended January 9.
Rising food inflation, analysts said, could force the central bank to increase cash reserve ratio (CRR), the portion of deposits that banks keep with the RBI, by 50 basis points in the third quarterly review of credit policy tomorrow.
The realty gave smart recovery and rose 1.62% followed by Pharma Index(up by 1.32%) and metal.The Capital goods sector was dull and closed in negative loosing 0.31%.

India's largest steel company, Tata Steel reported better-than-expected numbers for Q3FY10. It has reported 155.47% jump in its standalone net profit of Rs 1191 crore and 33% rise in net sales of Rs 6,307 crore, street expectations were Rs 1,022 crore and net sales at Rs Rs 6,006 crore. The share surged 4.6%.

Aban Offshore plunged 8.4% post disappointing numbers and its traded volumes shot up 565% on five-day average basis. The company reported Q3FY10 consolidated net profit of Rs 89.4 crore and net sales of Rs 841 crore while markets were expecting at Rs 171 crore and Rs 928 crore, respectively.
Crompton Greaves Ltd has announced that the Board of Directors of the Company at its meeting held on January 28, 2010, inter alia, have declared an interim dividend of 70% i.e. Rs. 1.40 per share.
Crompton Greaves :The Board of Directors have recommended issue of Bonus Shares in the proportion of 3 (Three) new Equity Shares for every 4 (Four) Equity Shares, of Rs. 2/- each, subject to approval of Members in General Meeting and the Regulatory Authorities, as necessary.
The Extra-ordinary General Meeting of the Company, to seek Members' approval for issue of Bonus Shares has been convened on February 24, 2010.

Jain Irrigation Q3 net profit higher at Rs 57.36 crores.Jain Irrigation Systems Ltd has announced the unaudited financial results for the quarter ended December 31, 2009.
The Company has posted a net profit of Rs 573.60 million for the quarter ended December 31, 2009 where as the same was at Rs 556.40 million for the quarter ended December 31, 2008. Total Income is Rs 6409.70 million for the quarter ended December 31, 2009 where as the same was at Rs 5377.00 million for the quarter ended December 31, 2008.