HUL closes 3% lower on Q3 results, Sensex gains 102 pts

3.30 p.m: Markets recovered from the day’s low with Sensex closing the day at 17,707 up 102 points while Nifty closed the day at 5361 a gain of 35.80.

Cement stocks saw a sharp rally in the closing hour with almost all the major companies touching an all-time high. ACC closed the day at Rs 1339.40 up 5.74, Ambuja Cement closed the day at Rs 181.50 up 5.22 percent, Grasim closed 2.78 percent higher at Rs 2814 while Ultratech Cement closed 7.54 percent higher at Rs 1372.

Hindustan Unilever closed 3.20 lower at Rs 388.55 after the company announced it results.

Tata Power closed 4.61 percent lower at Rs 107.40 after the company said that its Mundra project will not be feasible if it is not allowed to raise tariffs.

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India Infoline announced a strong set of numbers for December 2011, which resulted in the stock closing 22 percent higher at Rs 69.95.

Dhanlaxmi Bank closed 2.35 percent lower at Rs 56 after it’s managing director has offered his resignation to the board.

Unitech closed the day at Rs 29.40 a gain of 13.4 percent on news of Telenor looking to exiting its joint venture in the telecom business Uninor.

Hindustan Unilever falls 4% post results

2.45 p.m: Markets trades near the day’s low with Sensex at 17,639 a gain of 34 points over Friday’s close while Nifty is at 5336 a gain of 10 points.

Tata Power has slipped further and trades at Rs 106.15 after the company said that its Mundra power project will not be viable if the company is not allowed to raise tariff.

India Infoline has slipped in line with the market after announcing its result. The stock trades at Rs 70.30, a gain of 22 percent over previous day’s close.

Hindustan Unilever falls by 3.23 percent at Rs 388 after the company announced its results.

India Infoline gains 30% on stellar results

2.15 p.m: India Infoline has shot up by 30 percent after posting outstanding results in its December quarter. The company posted a 62 percent quarter on quarter growth in net profit to Rs 35.8 crore.

Hindustan Unilever also announced its results where profit increased by 18 percent over last year. The stock has gained only 0.4 percent at Rs 405.90.

Sensex meanwhile trades at 17,705 a rise of 100 points over Friday’s close, while Nifty is up 37 points at 5362.

Tata Power drops over 4% on Mundra project viability

1.30 p.m: Markets move in a narrow range with Sensex trading at 17,729 a gain of 124 points while Nifty is up 38 points at 5364.

Unitech continues to be the top gainer at Rs 29, a gain of 11.45 percent.

Tata Power slipped by 4.4 percent at Rs 107.75 after the company said that its Mundra power project will not be viable unless the company is allowed to raise tariff.

European markets, meanwhile have opened marginally lower.

Unitech gains 12% as Telenor hints at exiting Uninor

12.15 p.m: Markets have come off the day’s high with Sensex presently trading at 17,688 up 83 points while Nifty trades 25 points higher at 5352.

Real estate stocks are among the top gainers after a report by Nomura said that commercial real estate is picking up. Unitech has gained by 12.4 percent at Rs 29.45, HDIL is up 4.3 percent at Rs 85.35 while DLF has gained 2.5 percent at Rs 236.65. Unitech has also gained after their telecom partner, Telenor has said that they might be considering quiting the joint venture. The two partners have been in loggerhead over their roles in Uninor.

SKS Micro hits 10% upper circuit on fund raising

11.00 a.m: Markets have moved higher with Sensex trading near the day’s high at 17,802 a gain of 197 points while Nifty is up 62 points at 5388.

Among the top gainers are JP Associates trades 4.66 percent at Rs 79.70 while PFC has gained 4.75 percent at Rs 195.45.

Real estate companies Unitech trades 10.6 percent higher at Rs 28.75 while HDIL is up 5.5 percent at Rs 86.40 and DB Realty has gained 13.20 percent at Rs 70.75.

Reliance however is trading near Friday’s close at Rs 838.40.

SKS Micro has hit the 10 percent upper circuit after the company has securitised its non-Andhra Pradesh portfolio and raised Rs 243 crore. The stock is at Rs 98.45.

Power Finance gains over 4% on strong numbers

10.15 a.m: Metals, banking and capital goods stocks are attracting good buying interest as Sensex trades 165 points higher at 17,770 while Nifty is at 5374 up 48 points.

SBI has moved higher and presently trades at Rs 2173 a gain of 3.3 percent, ICICI Bank is up 1.51 percent at Rs 930.50 while Axis Bank trades 0.7 percent higher at Rs 1107.

Metal stocks are led by JSW Steel which is up 4.25 percent at Rs 739.40, Tata Steel is up 1.82 percent at Rs 476 while Hindalco trades at Rs 156.85 up 2.75 percent. Metals have risen in the London Metal Exchange on hopes on an economic revival.

Smaller capital goods companies have moved up with Crompton Greaves up 3.9 percent at Rs 148.85, Voltas is up 6.9 percent at Rs 99.95.

Power Finance has gained over 4 percent on announcing a good set of numbers. The stock trades at Rs 194.75, up 4.25 percent.

Markets in the green, Piramal up 3% on buying stake in Vodafone

9.30 a.m: World markets continue to move higher, even as data coming out of Hong Kong is not too encouraging. Indian markets have opened higher with BSE Sensex trading at 17,767 a gain of 159 points over Friday’s close. NSE Nifty trades 45 points higher at 5371.

Among the stocks that are doing well in the opening trades are banking stocks with SBI trading at Rs 2154 a gain of 2.5 percent, ICICI Bank trades nearly 1 percent higher at Rs 925.40.

Piramal Healthcare trades 3.25 percent higher on acquiring 5.5 percent stake in

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Vodafone. The company has increased its stake to 11 percent.

Godrej Indsutries opened higher but presently trades 0.6 percent lower at Rs 211.65 after the company announced its results. The company posted a 39 percent growth in its net profit.

Power Finance Corporation trades 3 percent higher at Rs 192.45 after the company posted a sharp jump of 68 percent in its net profit.