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Mumbai: Reliance Industry says, one bonus share will be issued for every share held by an investor. The company has also declared a dividend of 130% or Rs 13 per fully paid-up equity share of Rs 10.

A company statement said, “The proposal for bonus and dividend continues Reliance’s tradition of rewarding shareholders on a sustained basis.”

The company also released restated results for 2008-09 to reflect the absorption of RPL effective from April 1, 2008.

The stock touched a high of Rs 2,209 but slipped 5% from there to touch a low of Rs 2,100. The stock managed to recover its losses and ended at Rs 2,119 – up 1%. Over 2.48 million shares were traded on the BSE today.

The dividend will result in a payment of Rs 2,219 crore, inclusive of taxes of Rs 322 crore. Both the bonus shares and dividend will also accrue to the shareholders of Reliance Petroleum (RPL).

Amidst the global cues, Sensex opened at 15 points higher at 16,868 this morning. The index is now around the day’s high at 16,941, up 88 points.

Sterlite and Sun Pharma have gained 1.5% each at Rs 761 and Rs 1,410, respectively. SBI has added 1.3% to Rs 2,118.

HDFC and ITC, however, are down around 1% each at Rs 2,740 and Rs 232, respectively.

Other Sensex stocks seem to be trading at a flat note. Out of 1,429 stocks traded so far, 973 have advanced, 412 have declined and the rest are unchanged.

Reliance Money recommends investors to subscribe for Pipavav Shipyard’s initial public offering (IPO). The issue opened today and last date is September 18. The price band is fixed at Rs 55-60.

It is a good investment for long term as Pipavav undoubtedly has the potential, given the company’s one stop-shop facility to provide various services right from construction and fabrication of offshore platforms, rigs, jackets and vessels for the oil and gas industry, building ships and repairing wide range of vessels for the military and a dockyard running 662mts in length and 65mts in width.

At the price band of Rs.55-60, Pipavav Shipyard, on a P/BV basis stands at 2.4x-2.5x FY09 post dilution, which seems expensive as compared to its peers.

Therefore this IPO qualifies as good long term investment to investors having 2-3 years gestation period and may not offer any immediate listing gains.

Mumbai: The stock market is likely to open higher this Monday as the trend scaled upwards overseas. US stocks closed on a higher scale last Friday and Asian stock market was on a rise this Monday.

Fewer job cuts in the US hints towards a favorable stock market situation and the Sensex is expected to be better this week.

A reliable online source stated, “For the last few weeks, the Indian market has been witnessing range bound movements. The Sensex has been capped below the 16000 mark, while the Nifty has also been unable to breach the 4725 mark confidently.”

Source says further, “This week, the overall movement is likely to be range bound. However, it would be interesting to see whether the indices can breach the psychological levels. That should decide the undertone for the short-term.”

The Dow Jones Industrial Average climbed 96.66 points, or 1.03 percent, to end at 9,441.27. The Standard & Poor’s 500 Index gained 13.16 points, or 1.31 per cent,to 1,016.40. The Nasdaq Composite Index rose 35.58 points, or 1.79 percent, to close at 2,018.78.

Mumbai: After a drop of 3.3% in the last 4 days, the BSE Sensex is expected to open higher on Friday. However investors are still worried due to the market scenario.

Top power equipment maker Bharat Heavy Electricals Ltd, Energy giant Reliance Industries, Oil and Natural Gas Corp, Steel Authority of India Ltd, Sterlite Industries will be under the radar as he maximum expectation to turn the stock market is from these companies.

Nifty India stock index futures traded in Singapore were up 0.2 percent, pointing to a higher opening in India.

On Thursday, the 30-share BSE index ended down 0.45 percent, or 69.13 points, at 15,398.33, its weakest close since Aug. 21.

Mumbai: State-run hydro power generator NHPC, on Tuesday made a disappointing debut.

The scrip surged to an intra-day high of Rs 39.75, up 10.42 per cent over its issue price of Rs 36 within minutes of opening trade.

The NHPC shares settled at Rs 36.70, just 70 paise or 1.94 per cent above its issue price of Rs 36 on the BSE.

Bonanza Portfolio Assistant Vice President Research Avinash Gupta said, “The overall weakness in the market due to global cues cast a shadow on the listing of NHPC. Moreover, the price of the scrip is not under-valued so there was no rush of investors trying to enter at low levels.”

The BSE benchmark index Sensex today dropped 115 points to settle at 15,551. The company has listed over 1,230 crore shares on the bourses.

NHPC, which came out with an initial public offer (IPO) last month raised over Rs 6,000 crore after getting subscribed nearly 24 times.

Indian equities markets shot up after the opening bell Monday, with a key index opening more than 200 points higher and continuing to climb in the first 15 minutes, to about 500 points higher than its last closing figure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 11,635.24 points, higher than its 11,403.25 points close Wednesday. After about 15 minutes of trading, it was at 11,907.11 points, 4.42 percent or 503.86 points higher than its previous close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,610.90 points, 3.94 percent higher than its previous close.

Broader indices were also ruling positive, with the BSE midcap index up 2.59 percent, and the BSE smallcap index ruling 2.41 percent higher than its previous close.

Indian equities markets crawled past last week’s closing figure at the end of a truncated week, which saw global markets’ indices rise smartly. A key index ended trade Wednesday at 11,403.25 points, 0.65 percent higher than the previous weekly close.

Markets were open only three days, with Thursday and Friday being holidays on account of Lok Sabha elections and Maharashtra Day respectively.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended Wednesday at 11,403.25 points, a gain of 74.20 points or 0.65 percent, over the previous week’s close of 11,329.05 points.

However, the S&P CNX Nifty of the National Stock Exchange (NSE) fell 0.2 percent from its last close to end at 3,473.95 points.

The Sensex hit an intra-week high of 11,492 points a and low of 10,961, while the Nifty hit an intra-week high of 3,517 points and low of 3,351.

Broader market indices ended in the red this week, with the BSE midcap index closing 2.4 percent lower than its previous weekly close, while the BSE smallcap index was down 3.13 percent.

Monday saw the Sensex see-saw between negative and positive terrains before finally shutting shop 42 points higher than its previous close. It rose 42.8 points or 0.38 percent to end trade at 11,371.85 points.

However, stocks at the Nifty didn’t so well with the NSE key index closing 0.31 percent lower.

Indian equities were down in the dumps Tuesday, with Sensex losing 370 points over its previous close as investors booked profits across sectors. The Sensex fell 3.25 percent to close at 11,001.75 points.

The Nifty shed a similar 3.17 percent to close at 3,362.35 points.

Indian equities markets closed high up in the green Wednesday – a day before the futures and options contract expired – as bulls broke out into a rally to regain Tuesday’s losses.

The Sensex rose 401.5 points or 3.65 percent from the previous close to end trade at 11,403.25 points.

Similarly, the Nifty gained 3.23 percent to close at 3,473.95 points.

The top gainers in the Sensex were ICICI Bank (up 10.4 percent), Tata Consultancy Services (up 6.8 percent), Wipro (up 6 percent), Infosys (up 4.2 percent) and Hero Honda (up 3.1 percent).

Among losers were Tata Steel (down 8.8 percent), Reliance Power (down 7.4 percent), Reliance Infrastructure (down 6.1 percent), Hindalco (down 6.1 percent) and Reliance Capital (down 5.9 percent).

For the week ended Friday, Wall Street stocks climbed into the green buoyed by encouraging economic reports and increasing consumer confidence.

The blue-chip Dow Jones Industrial Average and the broader Standard and Poor’s 500 Index rose for the seventh consecutive week, while the technology-heavy Nasdaq Composite Index closed in the green eight straight weeks.

A sharp rally in European stocks Thursday helped key indices record handsome gains. The German DAX 30 rose 1.4 percent to end at 4,769.45 points, while its British peer, the FTSE 100 index advanced 1.3 percent to 4,243.71 points.

The French CAC-40 index gained 1.4 percent to close at 3,159.85 points.

Indian equities markets are closed Thursday and Friday on account of Lok Sabha elections and Maharashtra day respectively. Trading will resume Monday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose 3.65 percent Wednesday to close at a six and half month high of 11,403.25 points.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) gained 3.23 percent to close at 3,473.95 points.

Indian equities markets slipped into the red Thursday after opening higher, as a key index slid about 125 points in the red a little after noon.

Around this time, the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 11,358.06 points, was at 11,159.18 points, 1.11 percent or 125.55 points lower than its previous close Wednesday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,439.85 points, 1.27 percent down from its last close of 3,484.15 points.

Broader market indices also turned. The BSE midcap and BSE smallcap were doing better, with the BSE midcap index down 0.43 percent, and the BSE smallcap index down 0.21 percent.

Of the 13 sectoral indices on the BSE, the indices for consumer durables, realty and FMCG stocks gained the most.

Among the gainers on the Sensex were Sun Pharma, up 2.85 percent at Rs.1,245.95; Hindustan Unilever, up 1.87 percent at Rs.240; Maruti Suzuki, up 1.77 percent at Rs.862.70, and Grasim, up 1.25 percent at Rs.1,643.

The losers included Tata Motors, down 6.4 percent at Rs.263.20; Ranbaxy, down 4.95 percent at Rs.189.95; Tata Steel, down 3.19 percent at Rs.284, and Mahindra and Mahindra, down 2.56 percent at Rs.462.

In other Asian markets, a key Japanese index – the Nikkei of the Tokyo Stock Exchange – closed marginally in the green Thursday at 8,755.26 points, about 12.30 points below its last closing figure.

However, the Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling at 15,631 points, 0.24 percent lower than its last close.

US stock markets rose Wednesday on signs of economic recovery as the Federal Reserve said a number of regions are reporting an easing of the country’s economic downturn.

The blue-chip Dow Jones Industrial Average was up 109.44 points, or 1.4 percent, to 8,029.62 points.

The broader Standard and Poor’s 500 Index gained 10.56 points, or 1.3 percent, to 852.06, while the technology-heavy Nasdaq Composite Index increased 1.08 points, or 0.1 percent, to 1,626.80.