Market goes green at open

Mumbai -- BSE Sensex has gained by 69 points at 11261 and the NSE Nifty is up by 21 points to 3296 at the opening. The markets have opened strong witnessing buying in heavy weights such as Reliance Industries, Wipro, Gujarat Ambuja, HLL, Maruti, BHEL and Hindalco. The BSE Sensex is once again trading above the 11k mark. PNB, Britannia, Tata Chemicals, ITC, OBC, Tisco, and SAIL are the chief gainers among the 50-scrips of Nifty.

According to reports ONGC has won joint bid for Omimex stake. The scrip has surged higher by 0.8% to Rs. 1203 and scrip has touched an intra-day high of Rs. 1206 and a low of Rs. 1181 and has recorded volumes of over 36 thousand shares on NSE.

Strides Arcolab Ltd. has spurred by 1.5% to Rs. 283 after the company declared that they have received tentative nod from the U.S Food and Drug Administration (FDA) for Nevirapine Tablets. The scrip has touched an intra-day high of Rs. 287 and a low of Rs. 283 and has recorded volumes of over 3 thousand shares on BSE.

I-Flex has gained by 3.7% to Rs. 1372. The company plans to take over Mantas for $122.6mn. The scrip has touched an intra-day high of Rs. 1379 and a low of Rs. 1320 and has recorded volumes of over 1 lakh shares on NSE.

On the contrary, Alok Industries Ltd. has lost by 0.6% to Rs. 63. The company has posted a profit after tax of Rs. 1092.1mn for the year ended March 31, 2006 on contrast to Rs. 892.5mn for the year ended March 31, 2005. The scrip has touched an intra-day high of Rs. 63 and a low of Rs. 64 and has recorded volumes of over 30 thousand shares on BSE.

Similarly, L&T has shed by 1.1% to Rs. 2294 after the company suspended operations at Hazira because of heavy rains. The scrip has touched an intra-day high of Rs. 2323 and a low of Rs. 2285 and has recorded volumes of over 67 thousand shares on NSE.

In a losers' string, next is Goa Carbon Ltd. which has plunged by 2.5% to Rs. 60 after the company reported a net loss of Rs. 11.72mn for the quarter ended June 30, 2006, as compared to a net profit of Rs. 3.23mn recorded during the corresponding quarter of the previous year. The scrip has touched an intra-day high of Rs. 63 and a low of Rs. 60 and has recorded volumes of over 200 hundred shares on BSE.