Sensex closes above 18,000 on Tata Motors robust Q3 numbers

3.30 p.m: Markets closed at the six month high bouyed by a strong opening in the Asian markets which were buoyed by better than expected retail sales in the US.

Sensex closed the day 354 points higher at 18,202 while Nifty closed the day at 5532 up 114 points.

Voltas was the star performer of the day, closing at Rs 118, a gain of 24.74 percent after announcement of its results.

Tata Motors closed the day at Rs 288.60 a gain of 7.7 percent after a series of upgrade by various brokers, post the company’s results.

Reliance did not participate in the rally and was down by 1.23 percent at Rs 838.45 on news of a further reduction in its gas production.

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Axis Bank closed the day 7.11 percent higher post a SAT order staying the merger of broking firm Enam.

JP Associate closed 8.1 percent up at Rs 85.95 post announcement of its results.

Voltas gains 22% despite poor results, Sensex up 331 pts.

2.00 p.m: Markets have come off the day’s high with Sensex trading at 18125, a gain of 275 points while Nifty is up 87 points at 5505.

Voltas has surprised the market with a sharp run-up of 22 percent to trade at Rs 115. The company has announced a loss on account of a cost over-run in one of it project to the tune of Rs 267 crore. Though the project is worth Rs 1,000 crore, there have been design changes and other cost overruns.

JP Associates has moved higher to Rs 85.30 a gain of 7.23 percent after the company posted it results on Tuesday.

Reliance meanwhile has slipped further and trades 1.5 percent lower at Rs 837 on lower prodcution output by the company.

RIL down 1% on lower gas output, watches the rally go by

12.30 p.m: Strength of the rally can be judged from the fact that Reliance, one of the biggest contributor to the index has not participated in it. In fact the stock trades 1.05 percent lower at Rs 840 on news that the company will be producing lower gas from its KG Basin fields.

Tata Motors has moved higher and trades 7.50 percent higher at Rs 288. The company announced a stellar performance for the December quarter which was helped by launch of Evoque and currency depreciation.

Voltas also trades higher and presently is at Rs 112.35 a gain of 19 percent over the previous year.

Axis Bank has gained 5.35 percent at Rs 1193 after earlier order of merger with broking firm Enam was stayed by SAT.

EVoque takes Tata Motors to all-time high, Nifty crosses 5,500

**11.15 a.m:**Markets have moved higher with Sensex trading 277 points higher at 18,122 while Nifty is up 82 points just crossing the 5,500 mark at 5,501.

Voltas has moved higher and trades at Rs 112.30 a gain of 18.50 percent post announcement of its results.

Tata Motors has moved higher and trades at Rs 286.10 up 6.75 percent.

Reliance has not participated in the rally and is infact trading 1 percent lower at Rs 840 after the company reported that its gas production is expected to fall further.

Sensex above 18,000, Tata Motors gains 6.5% on JLR numbers

10.15 a.m: Markets continue to trade near the day’s high with Sensex remaining above the 18,000 mark after a strong opening. Sensex is at 18,063 up 214 points while Nifty trades 62 points higher at 5478.

A strong performance by Tata Motors’ Europe operation of JLR resulted in a sharp 40 percent jump in its profit, way above analyst expectation. The company presently trades at Rs 285.30 a gain of 6.40 percent. The company’s DVR (Differential voting rights) shares have gained more and trade at Rs 149.35, up 11.91 percent.

Among the other top gainers of the day are Voltas, which trades 14.64 percent higher at Rs 108.40. Though the company posted a loss, it was largely on account of a cost overrun in its Qatar project to the tune of Rs 267 crore which resulted in the company posting a loss of Rs 132 crore.

HDIL has moved higher and is trading at Rs 109.35 a gain of 5 percent.

HSBC has downgraded SBI to ‘Underweight’ with a target price of Rs 2,000 as it believes that the bank’s high growth is on riskier segments such as SME and agri. The stock currently trades at Rs 2,232 up 1.45 percent.

Sensex above 18,000; HDIL gains on TDR benefit

9.30 a.m: World markets have reacted positively as they re-assess the Greek situation and a strong retail sales number from the US. Asian markets are trading nearly 2 percent higher.

Indian markets too reflect the same enthusiasm with BSE Sensex trading 221 points higher above the 18,000 mark at 18,069 while NSE Nifty is trading at 5477 up 59 points.

Tata Motors has continued its gain after the company announced its results on Tuesday. The stock trades at 6.40 percent higher at Rs 285.10.

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HDIL also has continues its gain after a late evening result announcement on Tuesday. The company will also gain from a change in TDR rules. The stock trades 3.84 percent higher at Rs 108.05.

BHEL trades 1.2 percent higher at Rs 268.35 after the Heavy Industry Ministry said that they are not in favour of a stake sale in the company.

Max India trades 4.56 percent higher at Rs 185.70 after its insurance joint venture partner announced an exit.