The BSE Sensex once again opened with a big gap down followed by a further steep fall. The benchmark index made a couple of unsuccessful attempts to recover the substantial damage. Once again, all the sectoral indices closed in the negative region. The capital goods continued to be hammered badly for the second day and consumer durables remained relatively resilient. Earlier, the US and the Asian markets closed deep in red while Europe opened in green. The Nifty future was also one and a half percent down.
Geojlt Bnp Paribas Financial Services: CMP: ` 17 (+6%)
The company agreed to sell its entire stake in a JV company to BNP Paribas SA. The management of the company accepted the offer to sell this stake for ` 40.5 crores against the investment of ` 27.5 crores.
Sun Tv Network: CMP: ` 282 (+1%)
The South Indian media company announced that it will launch four new high definition channels in Tamil and Telugu languages to move towards its objective of strengthening its competitive positioning. These channels will be first of their kinds and will be launched on 11th December, 2011.
Reliance Capital: CMP: ` 293 (+1%)
The share of this mid-cap diversified financial services company edged up again on the buzz of stake sale in its general insurance arm. The company is reportedly said to be in talks with international firms (Travelers Companies, Samsung Fire & Marine Insurance and a Japanese firm) to sell 26% stake in its general insurance business.
Jet Airways: CMP: ` 236 (-6%)
The reports of allegations of non-payment of service tax on import of various services such as advertisement and sales promotion, business support service and management fees raised investors’ concerns leading them to succumb to the mounting selling pressure. Kingfisher Airlines also faced similar pressure owing to same sort of allegations.