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India Hot Stocks: Prism Cement falls as net dips

Reuters - Tuesday, October 7

MUMBAI, Oct 7 - The following stocks were on the move at the BSE on Tuesday.

At 12:20 p.m., the benchmark 30-share BSE index <.BSESN> was down 0.79 percent at 11,708.77 points.

The 50-share National Stock Exchange Index <.NSEI> was up 0.16 percent at 3,607.15 points.

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* Portland cement maker Prism Cement Ltd <PRIS.BO> extended its fall to 21.40 rupees, down 13.18 percent, after the company's net profit for July-Sep fell 71 percent to 150.1 million rupees.

Shares were trading at 22.55 rupees down 8.52 percent.

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* Shares of broking houses with interest in commodities such as Indiabulls Financial <IBUL.BO>, JM Financial <JMSH.BO>, Motilal Oswal Financial Services <MOFS.BO> and Religare Enterprises <RELG.BO> were up 3-5.5 percent after the Economic Times reported the federal government was set to allow 100 percent foreign direct investment in commodity broking business.

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* Banking stocks were up 1.5-6 percent after the central bank in a surprise move late on Monday said the cash reserve ratio would be reduced by 50 basis points.

ICICI Bank <ICBK.BO> was up 6.1 percent, SBI <SBI.BO> was 2.9 percent higher and HDFC Bank <HDBK.BO> rose 2.5 percent.

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* Software exporters rose in early trades, buoyed by a weak rupee, which fell to a fresh five-and-half year low earlier in the day at 48.01/02 a dollar.

Tata Consultancy Services <TCS.BO>, Infosys Technologies <INFY.BO>, HCL Technologies <HCLT.BO>, Satyam Computer <SATY.BO> and Wipro Ltd <WIPR.BO> were trading up 0.5-4 percent.

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