Top Rated Projects of Noida Extension
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Indian Property Review has announced Top 20 projects in Noida Extension. The projects were evaluated on the basis of Location, Price, Facilities and Builder’s Track Record and following projects emerged as winners with highest ratings …

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Sensex in Positive Territory; Bank, Realty Stocks Shine

Submitted by on Wednesday, 24 September 2008No Comment

Sensex in positive territory; Bank, realty stocks shineBank, consumer durables, PSU, realty, information technology and power stocks have surged higher on strong buying support this morning.

At 14,658.38, the Sensex is up with a small gain of 1.69 points now. The Nifty is up with a slender gain of 1.75 points at 4415.30. Besides a host of large cap stocks, several stocks from midcap and smallcap segments too have surged higher on sustained buying support. Midcap and smallcap indices have outperformed the premier indices and are up by 1.43% and 1.3% respectively.

Heavyweight bank stocks ICICI Bank (2.55%), HDFC Bank (1.5%) and State Bank of India (1.6%) rule firm with impressive gains. IDBI Bank, Indian Overseas Bank, Punjab National Bank, IndusInd Bank, Bank of Baroda, Yes Bank and Federal Bank have gained 2% – 3%. Axis Bank, Bank of India, Kotak Bank, Karnataka Bank, Allahabad Bank, Union Bank of India, Central Bank of India, Bank of Maharashtra, Vijaya Bank, Syndicate Bank and Oriental Bank of Commerce have also moved up sharply.

Realty stocks India Bulls Real Estate and Mahindra Lifespace have gained 4.5% and 4.2% respectively. HDIL has notched up a gain of 3.1%. Unitech is up by around 2.75%. Sobha Developers has gained 2.5%. Anant Raj Industries, Parsvnath Developers, Omaxe, Ansal Infrastructure, Penland, Akruti City and Orbit Corporation have gained 1% – 2%.

Besides the three bank heavyweights, Reliance Communications (1.9%), Maruti Suzuki (1.85%), Reliance Infrastructure (1.75%), Satyam Computer Services (1.7%), Infosys Technologies (1.5%), Tata Power (1.25%), AC (1.2%) and Hindalco (1.05%) are the prominent gainers in the Sensex. Tata Motors, NTPC and Ranbaxy Laboratories have posted modest gains.

TCS, HDFC, Sterlite Industries, Reliance Industries and DLF have declined sharply on selling pressure. Hindustan Unilever, Bharti Airtel, ONGC, Tata Steel, BHEL, ITC, Jaiprakash Associates and Larsen & Toubro also exhibit weakness.

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