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Market closes at 6 month high on Tata Motors robust Q3 numbers

Rating cuts, by Moody's, of various eurozone nations is likely to take some of the sting away from the market.

by Shishir Asthana 14 Feb 09:36 am IST

     

markets.

HDIL trades 7 percent higher at Rs 104.35 after the company said that DCRAmendmentwill result in higher TDR.

Lanco Infra has moved 16.5 percent higher after the company announced that it will be raising $750 million and will be exiting from non-core business. The stock trades at Rs 18.80.

Among the other counters that have moved are L&T which is up 2.25 percent at Rs 1357.95, Reliance Communication trades 4.5 percent higher at Rs 98.5 despite a poor set of numbers.

Sensex meanwhile trades at 17,796 up 23 points while Nifty is up 10 points at 5400.

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Europe opens marginally lower post downgrades; Sensex up 50 pts

1.45 p.m: European markets have opened marginally lower after a series of country downgrades and bank downgrades by rating agencies S&P and Moody's.

Indian markets continue to remain subdued with Sensex trading 50 points higher at 17,821 while Nifty is up 18 points at 5408.

Lanco Infra trades 18 percent higher at Rs 19.10 after the company said that it plans to raise $750 million and exit from non-core business.

Tata Power trades 4.6 percent lower after the company posted a poor set of number over the weekend. The stock trades at Rs 103.50.

JP Associate trades nearly 2 percent higher after the company announced a profit of Rs 205 crore for the December quarter.

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Auto stocks gain on hopes of a drop in interest rates

12.45 p.m: Bond yields falling to 8.17 percent raises after announcement of inflation data raises hopes of the central bank cutting interest rates. Auto stocks are trading at the day's high with Hero Moto gaining 2.65 percent at Rs....
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