Expansion Drives NTPC Higher, Sensex Up

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Author: 123jump.com Staff
123jump.com
Last Update: 10:46 PM EDT March 14 2008

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At the end of the last week in February, annualized inflation rose to 5.11%, a decline from 6.5% a year ago but an increase from 5.02% at the end of the previous week. The cost of fuel and manufactured items played a key role in the inflation increase. Finance minister P. Chidambaram reiterated that the economy will grow at 8.5% despite global financial markets volatility.

Bharti Airtel lost 3.3% to 753 rupees and led the decliners in the Sensex index.

DLF jumped 8.2% to 656.20 rupees. The stock replaced GlaxoSmithkline Pharma in the Nifty index from Friday.

Satyam Computer Services was up 4.6% to 380.85 rupees and Infosys Technologies gained 2.7% to 1,370 rupees.

ICICI Bank surged 4.3% to 873.95 rupees.

Hindalco Industries increased 4.8% to 182 rupees and Tata Steel gained 2.5% to 714.90 rupees.

Jaiprakash Associates gained 7.8% to 236 rupees and it replaced Bajaj Auto in the BSE 30-share Sensex index from Friday.

Bajaj Holdings & Investment settled at 775 rupees. Bajaj Holdings, earlier known as Bajaj Auto, has 30% in Bajaj Auto and Bajaj Finserv, both are expected to be listed separately.

Corporate News

NTPC Ltd on Friday said it will invest 13,000 crore rupees to add 2,700 MW capacity during the next financial year. NTPC, the country''s largest power generation company in terms of sales, surged 4.3% to 194.80 rupees

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