Jaiprakash Associates jumped 5% to Rs 671, extending its recent advance after a court order which paved the way for the land development projects of the company.

Forbes Gokak jumped 20% to Rs 565.50, after the company said it had constituted a committee of directors to examine possibilities of restructuring.

Decliners

The large-cap decliners were Hero Honda which declined 1.52% to Rs 714.50, Tata Steel fell 1.19% to Rs 496.55, Hindalco sank 1.03% to Rs 182.05, ONGC fell 0.79% to Rs 872 and Ranbaxy fell 0.30% to Rs 397.

Other news

After its acquisition of 50% stake in Ten Sports, Zee Group has said there could be a possibility of merger of the Dubai-based channel with its sports channel, Zee Sports, in future.


9: 45AM Stocks opened mixed on cautious trading ahead of key data release.
Stocks opened mixed Monday on cautious trading ahead of retail sales and inflation data later in the week. On Tuesday the Labor Department releases its Producer Price Index and the Commerce Department issues retail sales data. Both are expected to give investors a better reading on the economy, inflation and consumer spending.

Intel (INTC: chart) was an early gainer, up 1.1%, lifted by an upgrade for the chip sector from Citigroup. SanDisk (SNDK: chart) fell 2.2% after UBS downgraded the company to neutral from buy. Tyson Foods (TSN: chart) reported a Q4 loss vs. a year-earlier profit. Revenue fell from a year ago, but matched forecasts. The stock rose 2.2% in early trading. ISIS Pharmaceuticals (ISIS: chart) was a notable gainer, up 29% after the drug maker said data from two Phase II trials showed its drug, ISIS 301012, reduces LDL, or bad, cholesterol.

KB Home (KBH: chart), homebuilder, rose 3% on news its longtime CEO, resigned under pressure on Sunday, agreeing to return $13 million in profit from backdated stock options. The review revealed that company had misreported several unspecified grant dates for options issued between 1998 and 2005. KB Home expects to take a charge to its earnings of no more than $50 million, but may be forced to cover tax obligations related to the improper grants.

Significant weakness was visible in the gold sector, due to lower price of the precious metal. While a decrease by the price of oil contributed to some weakness among energy stocks, the oil-sensitive airline sector benefited from the price decrease. In the first hour of trading, the Dow Jones industrial average fell 19.69, or 0.16%, to 12,088.74. The Standard & Poor''s 500 index was down 1.38, or 0.10%, at 1,379.52, and the Nasdaq composite index dropped 1.32, or 0.06%, at 2,388.40.


9:30AM FTSE 100 advances on Monday on merger and acquisition talks.
In late morning, the FTSE 100 in London gained 7.6 points, or 0.1%, at 6,216.3.

Advancers

Resolution, the closed life assurance fund consolidator, was a leading gainer, up 3.9%. Talk in the market was of a possible merger with life assurer Prudential, up 2.4%, while others suggested Resolution could tie-up with Scottish Widows, the life assurance arm of Lloyds TSB, up 0.8 %.

ITV gained 2.9% amid reports that NTL was planning to meet with the shareholders of the broadcaster to explain a takeover approach.

Rumours of a counterbid from the US pushed Scottish Power up 1.3%. Iberdrola, the Spanish energy company, has confirmed an interest in buying the Scottish power company.

Decliners

The falling price of copper sent miners south. Mining group Rio Tinto fell 4.1% while Antofagasta dropped 3.4% and Xstrata was 2.3% lower.

Biofuels lost 8.9% as Numis Securities reiterated its price target on the biodiesel producer. Biofuels said on Friday that the lower oil price and a recent rise in feedstock prices had led to tighter profit margins.