Sensex soars, closes above 12,000-point mark
Wednesday, 13 May 2009
MUMBAI, May 12 (IANS): Indian markets soared late Tuesday, with a key index rising over 490 points from its last closing figure to breach the 12,000-point mark at close of trade. Banking and IT stocks led the rally.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 11,629.97 points, rose 490.33 points or 4.2 per cent from the previous close to end trade at 12,173.32 points (provisional).
The S&P CNX Nifty of the National Stock Exchange (NSE) gained 3.65 per cent to close at 3,684.35 points.
Broader market indices also ended in the positive terrain, with the BSE midcap index moving up 0.93 per cent, while the BSE smallcap index was up 1.33 per cent.
Meanwhile: Power equipment maker KEC International today said it has bagged three orders worth Rs 1.11 billion from different companies for power transmission related works.
KEC has bagged three orders totaling Rs 1.11 billion in the Middle East and Australia, besides India, it said in a filing to the Bombay Stock Exchange.
"We are happy that we are bagging orders both in international and domestic market simultaneously. This keeps our order book ticking across the business segments and geographies resulting in a healthy mix," KEC International MD and CEO Ramesh Chandak said.
The company has received Rs 580 million order for diversion of transmission lines from TRANSCO in Abu Dhabi in the Middle East. The project is scheduled to be completed in the 18 months.
In addition to this order, KEC has also bagged variation orders to its existing projects, the filing added.
In addition to the Abu Dhabi order, the company has also bagged a Rs 260 million tower supply order to be executed in Tasmania, Australia, it added.
In the domestic market, the company has bagged a Rs 270 million transmission line order from West Bengal State Electricity Transmission Company and the project is scheduled to be completed in 18 months, it said. Shares of KEC International were trading at Rs 271, up 5.02 per cent on the BSE.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 11,629.97 points, rose 490.33 points or 4.2 per cent from the previous close to end trade at 12,173.32 points (provisional).
The S&P CNX Nifty of the National Stock Exchange (NSE) gained 3.65 per cent to close at 3,684.35 points.
Broader market indices also ended in the positive terrain, with the BSE midcap index moving up 0.93 per cent, while the BSE smallcap index was up 1.33 per cent.
Meanwhile: Power equipment maker KEC International today said it has bagged three orders worth Rs 1.11 billion from different companies for power transmission related works.
KEC has bagged three orders totaling Rs 1.11 billion in the Middle East and Australia, besides India, it said in a filing to the Bombay Stock Exchange.
"We are happy that we are bagging orders both in international and domestic market simultaneously. This keeps our order book ticking across the business segments and geographies resulting in a healthy mix," KEC International MD and CEO Ramesh Chandak said.
The company has received Rs 580 million order for diversion of transmission lines from TRANSCO in Abu Dhabi in the Middle East. The project is scheduled to be completed in the 18 months.
In addition to this order, KEC has also bagged variation orders to its existing projects, the filing added.
In addition to the Abu Dhabi order, the company has also bagged a Rs 260 million tower supply order to be executed in Tasmania, Australia, it added.
In the domestic market, the company has bagged a Rs 270 million transmission line order from West Bengal State Electricity Transmission Company and the project is scheduled to be completed in 18 months, it said. Shares of KEC International were trading at Rs 271, up 5.02 per cent on the BSE.