Reliance Natural Resource tops volumes on BSE

Reliance Natural Resource (RNRL) was the volume topper on BSE, notching total volumes of 4.78 crore shares. The stock lost 5.73% to Rs 91.35. RNRL posted 175.83% spurt in net profit to Rs 19.17 crore on 5.94% fall in net sales to Rs 11.72 crore in Q2 September 2007 over Q2 September 2006. The company declared its results during market hours on Wednesday, 17 October 2007

Power Grid Corporation of India declined 4.94% to Rs 130 on volumes of 3.59 crore shares on BSE. As per reports, Power Grid Corporation of India (PGCIL) is planning equity investments to the tune of Rs 16500 crore over the next five years to fund a slew of transmission projects, aimed at nearly trebling the country’s inter-regional transmission capacity. It was the second most traded counter on BSE in terms of volumes.

Tata Teleservices (Maharashtra) slumped 4% to Rs 39.55 on 3 crore shares, and stood third in terms of volumes.

Reliance Petroleum ranked fourth clocking volumes of 2.33 crore shares on BSE. The stock lost 3.95% to Rs 174. It has reportedly achieved over 70% overall progress in implementation of its large and complex refinery, coming up in a special economic zone at Jamnagar in Gujarat. Based on the progress made till date, in the engineering, procurement and construction activities, RPL expects to complete the project ahead of scheduled in December 2008.

IFCI plunged 7% to Rs 75.90 on volumes of 1.13 crore shares. Its net profit surged 329.33% to Rs 497.29 crore on 188.30% rise in operating income to Rs 944.01 crore in Q2 September 2007 over Q2 September 2006.

The market saw a sharp trend reversal in the lattar part of the trading session. The BSE Sensex had surged 482.84 points to strike all-time high of 19,198.66 in afternoon trade.

However the market pared gains in mid-afternoon trade and Sensex lost as much as 944.66 points to touch a low of 17,771.16 in late trade. Sensex swung 1,427.50 points in today’s trade.

It settled 717.43 points or 3.83% lower at 17,998.39

The total turnover on BSE amounted to Rs 11570 crore today.