Hero MotoCorp to raise motorcycle prices starting January 1, 2018

Hero MotoCorp Limited (HMCL), the world’s largest manufacturer of motorcycles, has announced a price increase in motorcycles by Rs400 per model. This was announced by the company to stock exchanges on December 22, 2017.

HMCL is a dominant player in the 100-125cc motorcycle segment with its popular brands - Splendor, Passion, HF Deluxe, Glamour, and Super Splendor. It has nearly 50% market share (as per SIAM data Year-to-date) in the Motorcycle segment.

For Q2FY18, Motorcycles comprise 88% of total volumes and Scooters 12%. The company is the largest seller of Motorcycles in India; however, it stands at 3rd position in scooters -- after Honda Motorcycles and Scooters and TVS Motor Company. Exports comprise only 2.3% of total volumes. Despite Hero being a late entrant into the export market, it plans to double the number of countries that it exports to, from 20 to 40 over next few years. The very size of 2W markets in developing countries presents a huge growth opportunity for Hero.

The price hike has been taken to offset rising raw material costs and will translate to Rs400 per model. The exact quantum of the increase will vary, basis the model and the specific market.

Hero MotoCorp is currently trading at Rs3794.7, down by Rs14.3 or 0.38% from its previous closing of Rs3809 on the BSE. The scrip opened at Rs3809.05 and has touched a high and low of Rs3833.95 and Rs3776.1 respectively. The current market cap of the company is Rs76068.4 crore.

 

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HCC stock climbs 8.5%

Shares of Hindustan Construction Co stock rallied 8.5% backed by huge volumes.

Hindustan Construction Company Ltd is currently trading at Rs 42.9, up by Rs 3.3 or 8.33% from its previous closing of Rs 39.6 on the BSE.

The scrip opened at Rs40.25 and has touched a high and low of Rs45 and Rs40.05 respectively. The current market cap of the company is Rs4021.23cr.

The BSE group 'A' stock of face value Rs1 has touched a 52 week high of Rs48 on 25-Apr-2017 and a 52 week low of Rs31.9 on 27-Sep-2017. Last one week high and low of the scrip stood at Rs40 and Rs33.85 respectively.

The promoters holding in the company stood at 27.67% while Institutions and Non-Institutions held 45.43% and 26.9%, respectively.

The stock is currently trading above its 200 DMA.

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Top stocks in focus today: Motherson Sumi, HDFC, RInfra,Canara Bank, Adani Transmission

Motherson Sumi’s promoter Samvardhana Motherson International sold 1.37% stake in the firm for over Rs1,079cr, through an open market transaction, as per media reports.

HDFC has approved the sale of 100% of its equity share capital of HDFC Developers and HDFC Realty to Quikr India for a total consideration of Rs101.99cr and Rs254.98cr respectively.

VIP Clothing to allot 1.65cr shares at Rs26 each via rights issue.

Canara Bank plans to sell 4% stake in Can Fin Homes. The bank will hold 26% stake after the sale.

Reliance Power has approached the Delhi HC seeking early allocation of coal to its power plant in Maharashtra.

NHPC approved amending the company's MoA to enable it to apply to power regulator CERC for trading license. The decision is in-line with the Power Ministry's plan to make NHPC an aggregator for meeting the demand of peaking power.

Havells India announced its foray in the water purifiers segment aiming at Rs100cr revenue in the first year of operations.

Coal India subsidiaries have finally issued electronic letters of intent for supplies of 27 million tonnes of coal annually for 25 years to 10 companies that won them through an e-auction on discounts offered over their existing tariffs.

Somany Ceramics has issued Commercial Paper of Rs50cr value dated 20 December, 2017 having maturity on March 15, 2018. The aforesaid issuance of commercial papers is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing.

SBI board meeting on Dec 27, to seek approval to raise AT1 capital from domestic/international markets.

Aurobindo Pharma received USFDA approval for Amlodipine Besylate and Valsartan Tablets.

Adani Power, Tata Power, Suzlon Energy, Inox Wind stock will be in focus today, as wind power tariff hit new low of Rs2.43/unit.

Aarti Industries to buy back 8.2 lakh shares or 1% at Rs1,200 each.

Indian Overseas Bank says RBI rejects notes to account on asset divergence.

RInfra, Adani Transmission in pact for Mumbai Power operations sale.

Indian Hume gets Rs257.26cr order from Karnataka.

Steel Strips Wheels gets order worth $2.15 mn from Egypt.

 

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CCI approves merger of Bharat Financial with Indusind Bank

Competition Commission of India (CCI) approved the proposed amalgamation of Bharat Financial Inclusion Limited with IndusInd Bank Limited.

The Scheme remains subject to the receipt of approval from the Reserve Bank of India and other statutory and regulatory approvals, including the approvals of the Stock Exchanges, SEBI, the National Company Law Tribunal, and the respective shareholders and creditors of BFIL and the Bank. IndusInd Bank to react positive on this news as the Amalgamation is getting closer with is positive for the Bank.

This will be a win-win deal as both companies will gain competitive advantage, realise synergies, and better their financial performance in the medium-to-long term.

The deal is accretive to growth, margins, ROA, and capital for the Bank. The stock trades at ~3x FY20E P/BV. We have positive outlook on the stock.

IndusInd Bank Ltd is currently trading at Rs1666.9, down by Rs5.35 or 0.32% from its previous closing of Rs1672.25 on the BSE. The scrip opened at Rs1656.3 and has touched a high and low of Rs1678.3 and Rs1656.3 respectively.

 

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Top stocks in focus today: Dr. Reddy's, Airtel, TCS, Welspun India

Aurobindo Pharma received USFDA tentative nod for omeprazole magnesium.

Bharti Airtel signs an agreement to acquire Millicom's operations in Rwanda.

Dr. Reddy's settled blister packed products case with US for $5 mn.

Punjab National Bank has allotted 29,76,19,047 equity shares at a price of Rs168 per share aggregating to Rs4999.99cr to Qualified Institutional Buyers.

Tata Consultancy Services has picked up around 2.50 lakh sq ft commercial space at Godrej & Boyce’s factory premises in Mumbai’s eastern suburb Vikhroli on a lease, as per media reports.

NCLT adjourned the hearing of insolvency petitions filed against Reliance Communications to early next month after a group of the telecom operator’s lenders sought time to consider converting the company’s loans into equity, as per media reports.

Pharma stocks in focus today as National drug pricing regulator NPPA on Monday said it has notified prices of 65 essential formulations, including those used for the treatment of diabetes, infections, pain and high blood pressure. In respect of medicines that are not under price control, manufacturers are allowed to increase the maximum retail price by 10% annually.

Welspun India has emerged as the first global textile entity to patent a fibre-tracking technology. The Mumbai-based world’s second largest terry-towel producer developed the technology after a large customer terminated a contract following mislabeling of the provenance of fibre in certain consignments.

Telecom stocks in focus today after Trai has proposed to slash by nearly 80% the fee charged to consumers for porting from one service provider to another without changing their number and has sought comments from stakeholders by December 29.

LT Foods QIP opens with a floor price at Rs 79.13 per share.

Bank of Baroda to consider raising additional funds on Dec. 22.

Supreme Court rules in favor of Kamat Hotels as the prior user of the word “Orchid” in dispute with Orchid Hotels.

Gandhi Special Tubes seeking shareholders’ approval to buyback 8.80 lakh shares at Rs500 each.

South Indian Bank sets one-year MCLR at 8.9% from December 20.

Serum Institute of India sold 7.50 lakh shares or 0.9% equity at Rs18.55 each of Orchid Pharma.

TCG Fund Fund bought 85,000 shares or 0.5% equity at Rs195 each of Rama Steel Tubes.

Mentor Capital bought 2.89 lakh shares or 0.6% equity at Rs114.78 each of Bharat Wire Ropes.

Societe Generale bought 30 lakh shares or 0.1% equity at Rs 496.65 each of Bharti Airtel.

 

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Sensex, Nifty trim initial gains ahead of WPI inflation data

Benchmark indices open mildly higher after the US Federal Reserve maintained its outlook for three hikes in interest rates in 2018 as against some expectations of four rate hikes. The US central bank raised interest rates by 25 basis points late Wednesday.

The exit polls to the Gujarat assembly election will come in later in the evening after market hours today.

At 10:11 AM, the BSE Sensex was trading at 33,080, up 27 points, while the broader Nifty50 index was trading at 10,201, gained by 11 points.

The BSE Midcap was up 0.21%, while the BSE Smallcap Index was up 0.08 %.

Shares of Tata Comm rose as much as 8.8% after the company said it will transfer surplus land to Hemisphere Properties, which will be listed on stock exchanges subsequently.

Shares of MEP Infrastructure Developers advanced 2% after the company's arm received certain milestone payments from National Highways Authority of India.

Shares of Manpasand Beverages rose 7% after the Reserve Bank of India raised the foreign institutional investment threshold in the company to 49% from 24%.

Prataap Snacks stock zoomed after the company reported 143% jump in its Q2 net profit at Rs12.9cr against Rs5.3cr in the same quarter last fiscal.

Shares of Ruchi Soya were trading 13% down after the company informed bourses that IDBI Bank declared it as a wilful defaulter.

On the economy front, the government will announce inflation data based on wholesale price index (WPI) for November today.

On the sectoral front, Metal, Pharma, IT, Realty and Auto were the top gainers, while Pvt Banking, FMCG, Financial Services and Media Index were the top losers on the NSE.

Tech Mahindra (+2%), Dr. Reddy’s (+1.5%), Infratel (+1.2%),  BPCL (+1.9%) and M&M (+1.15%) were the top gainers on the Nifty50.

TCS (-1.4%), GAIL (-1.1%), IndusInd Bank (-0.57%), Bajaj Finance (-0.53%) and NTPC (-0.51%) were the top losers in today’s trade.

India VIX gained 1.91%.

Out of 1,980 stocks traded on the NSE, 834 advanced, 694 declined and 452 remained unchanged today.

A total of 32 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

 

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Top 16 stocks in focus today: Airtel, IndiGo, Asian Paints

Bharti Airtel said an affiliate of private equity firm Warburg Pincus will acquire up to a 20% stake in its DTH arm Bharti Telemedia for about USD 350 million (around Rs2,310cr).

Two promoter entities of InterGlobe Aviation plan to offload shares worth at least Rs1,245cr through the offer for sale route on Wednesday.

Asian Paints said that it has Reno Chemicals Pharmaceuticals and Cosmetics for an amount of Rs159.5cr.

Kalpataru Power received new orders worth Rs875cr.

Punj Lloyd has received orders for laying and construction of steel pipeline along with associated facilities for Dharma-Angul section of Jagdishpur-Haldia-Bokaro-Dhamra Pipleline Project (JHBDPL) PH-II worth Rs276cr from GAIL. It has also received an order for upgradation of Yargi-Kalewa Road section in Myanmar of two lane with Earth shoulders on EPC mode worth Rs1,177cr, in joint venture with Varaha Infra from NHAI.

Dr Lal PathLabs has approved, acquisition of a Proprietorship Concern. i.e. 'Satya Pathology and Diagnostic Centre.

Adlabs Entertainment in talks with PE firms to raise Rs650cr, as per media reports.

Syndicate Bank opens QIP with floor price of Rs88.5/share.

Yes Bank is planning to buy 5% stake in One Point One Solutions, according to reports.

Century Textiles grants right to Grasim India to manage, use and control VFY business for a duration of 15 years for royalty of Rs600cr.

Morgan Stanley France S.A.S bought 6 lakh shares or 2% at Rs1,616 each of Indian Energy Exchange.

Societe Generale bought 13 lakh shares or 0.9% equity at Rs992.65 each of Bharat Financial.

A consortium of Aion Capital Partners and JSW emerged the strongest contender for acquiring Monnet Ispat and Energy Ltd, one of the initial 12 companies shortlisted by the RBI for insolvency proceedings, as per media reports.

Ashok Leyland has launched a new light commercial vehicle here with "higher" payload and "superior" mileage. The company launched the 'DOST+' range, which follows its entry in the LCV segment with 'DOST'.

NBCC (India) had earlier signed an agreement with the Republic of Mauritius for Construction of Social Housing Units in Mauritius valuing $22 Million (Rs150cr approx.).

Societe Generale bought 1.13cr shares or 2.2% equity at Rs137.75 each of Fortis.

Societe Generale bought 1.20cr shares or 0.8% equity at Rs250.25 each of Petronet.

Srei Infra and Russia’s VEB agree on $200 mn investment fund.

Union bank sets issue price for QIP at Rs154.65 per share.

Havells India plans new facility to make consumer durables.

 

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Sensex, Nifty extend losses; HPCL, Infratel top losers

Benchmark indices extended losses today tracking cues from other Asian markets, as investors continued to book profits. Sensex is down over 100 points and the Nifty50 is currently trading below 10,300 led by HDFC Bank, ITC, ICICI Bank and TCS.

Volatility in the market spiked in the last hour, as investors remained uncertain ahead of key economic data to be released later today. The India VIX index surged 5%.

At 1:12 PM, the Nifty50 index was down 59 points, or 0.58% at 10,263 level, while the BSE Sensex was at 33,288 points, down 0.51%.

Shares of Alembic Pharma rose 1.8%, as the company got approval of the USFDA to sell its generic version of Enablex drug in the US.

Shares of Unitech fell over 2% after the Supreme Court deferred Unitech's plea to Wednesday.

Cement companies were trading lower a day ahead of Supreme Court hearing to discuss ban on use of pet coke. Ambuja Cement and ACC stocks decline by 1% each.

Larsen & Toubro Infotech stock gained after the company in a stock exchange notification said that it will offer blockchain solution powered by Microsoft Azure.

Oil exploration companies were trading higher after Brent Crude rose to $65.60, its highest level since June 2015. ONGC (+1.65%), Oil India (+2.18%), Hindustan Oil Exploration (+4%).

Among BSE sectoral indices, metal index was up 0.62%, followed by consumer durables 0.32% and healthcare 0.14%.

On the other hand, power index fell the most by 1.08%, followed by realty 1%, FMCG 0.77% and banking 0.91%.

The BSE MidCap Index and S&P BSE SmallCap Index traded lower by 0.54% and 0.21% respectively.

Dr.Reddy’s (+3.7%), GAIL (+2.6%), Adani Ports (+2.5%), Vedanta (+2.2%), and Lupin (+1.3%) were the top gainers on the Nifty50.

HPCL (-2.96%), Infratel (-2.4%), BPCL (-2.2%), IOC (-2 %), and ITC (-1.9%) were the top losers in today’s trade.

Out of 1,987 stocks traded on the NSE, 634 advanced, 1,018 declined and 335 remained unchanged today.

A total of 76 stocks registered a fresh 52-week high in trade today, while 14 stocks touched a new 52-week low on the NSE.

 

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Sensex slips over 100 points; ITC, HDFC Bank top losers

Indices continued to trade lower, with the Sensex down over 100 points, and the Nifty firmly below the 10,300-mark. Losses were led by selling in banking, power, FMCG and infra stocks, down between 0.6% and 0.9%.

The bond yields rose to 16-month high as investors feared rising inflation. As per Bloomberg survey, CPI inflation rose to 4.28% last month. The 10-Year benchmark bond is currently trading at 7.23%, 6 bps higher than previous close.

At 11:30 AM, the Nifty50 Index was down 53 points or 0.51% at 10,270 points, and the BSE Sensex was at 33,313, down 0.43%.

Shares of Dr.Reddy's Laboratories gained 3% after the USFDA cleared the company's unit-3 in Hyderabad.

Punjab National Bank shares rise 0.58%. The bank has launched a share sale to qualified institutions to raise at least Rs3,000cr with an upsize option for another Rs2,000cr.

MT Educare stock dropped 5% after the company said it reported a loss for September quarter to Rs42.28 lakh against a profit of Rs15.9cr.

Oil marketing and aviation companies were trading lower after crude oil prices surged past the $65 per barrel mark for the first time since June 2015. Hindustan Petroleum Corp. Ltd fell 1.8%, Bharat Petroleum Corp. Ltd (-0.9%), and Indian Oil Corp was down 1%. Aviation stocks, Jet Airways India fell 1.5%, SpiceJet (-1.8%) and InterGlobe Aviation (-1.6%).

The BSE MidCap Index and S&P BSE SmallCap Index traded lower by 0.47% and 0.10% respectively.

On the sectoral front, only Metal Index is in green. Pvt Bank, FMCG, Financial services, PSU Bank, Pharma and Realty Index were the top losers on the NSE.

Dr.Reddy’s (+3.3%), GAIL (+2.3%), Vedanta (+2.2%), ONGC (+1.5%) and Hindalco (+1.3%) were the top gainers on the Nifty50.

HPCL (-3.3%), BPCL (-2.4%), IOC (-2.3%), Infratel (-2.2%) and Eicher Motors (-1.9%) were the top losers in today’s trade.

India VIX gained 2.98%.

Out of 1,985 stocks traded on the NSE, 653 advanced, 960 declined and 372 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

 

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Natco Pharma fixes QIP at Rs937.63 per share

Natco Pharma’s board of directors or committee of directors, may at its discretion, offer a discount of more than 5% on the QIP floor price.


Natco Pharma, a leading domestic player in the oncology, derives ~36% of sales from the oncology business. The company forayed into cardiology and diabetology in 2017. In FY17, the company derived 42% sales from domestic formulations, while international formulations and APIs contributed 40% and 9% respectively to sales in the same period.


The company is focusing on a few high-potential filings predominantly differentiated products through either novel drug delivery systems or complex chemistries. The company plans capex of Rs350cr in FY18. It is likely that the fund raised through QIP will primarily be used to invest in complex generics. Apart from capex, the company requires funds for repayment/prepayment of borrowings, working capital and general corporate purposes.

The details of QIP have not been disclosed by the company. However, in an earlier BSE filing, Natco Pharma had stated that it plans to raise Rs1,500cr through various modes including QIP, Global Depository Receipts (“GDRs”) or American Depository Receipts (“ADRs”) or Foreign Currency Convertible Bonds (“FCCBs”) or fully convertible /partly convertible debentures, etc.


Natco Pharma Ltd is currently trading at Rs974.1, up by Rs13.4 or 1.39% from its previous closing of Rs960.7 on the BSE.

 

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Nifty slips below 10,300 ahead of Nov WPI data

Benchmark indices opened on a negative note tracking weak cues from other Asian equities and on account of investors booking profits ahead of the release of key economic data later today.

At 9:51 AM, the Nifty50 Index was down 27 points or 0.26% at 10,295 points, and the BSE Sensex was at 33,383, down 0.22%.

Shares of Dr.Reddy's Laboratories jumped 4.1% after the US Food and Drug Administration cleared the company's unit-3 in Hyderabad.

Shares of Oil & Natural Gas Corp rose 1.2% after the global crude oil prices hit their highest level since 2015 overnight.

The broader markets were also trading on a subdued note with the BSE MidCap Index and S&P BSE SmallCap Index edging marginally lower.

On the sectoral front, Metal, Pharma, Media and Auto were the top gainers, while Pvt Banking, FMCG, PSU Bank, and Realty Index were the top losers on the NSE.

Dr.Reddy’s (+4%), Vedanta (+2.7%), GAIL (+2.3%),Hindalco (+1.9%) and ONGC (+1.87%) were the top gainers on the Nifty50.

HPCL (-2.3%), Asian Paints (-1.94%), BPCL (-1.9%), IOC (-1.8%), Eicher (-1.6%) were the top losers in today’s trade.

India VIX gained 1.78%.

Out of 1,974 stocks traded on the NSE, 716 advanced, 839 declined and 419 remained unchanged today.

A total of 52 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened higher at 64.41 per dollar against yesterday's close of 64.46.

 

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Top 15 stocks in focus today: Punjab National Bank, Dr. Reddy’s, Tata Tele

Punjab National Bank said it has initiated the process of raising up to Rs5,000cr through qualified institutional placement (QIP).

Dr. Reddy’s Bachupally formulations plant-3 received USFDA EIR.

Tata Motors announced that the company would be increasing prices of its entire passenger vehicles range by up to Rs25,000, starting January 2018, as per the BSE filing.

GNA Axles started commercial production from its two newly installed Automated Machining Lines at its unit in Punjab.

Asian Paints said it has purchased the remaining 49% stake in kitchen solution provider Sleek International for Rs50cr.

Sadbhav Infrastructure Project has been declared 'L1' HAM Project by NHAI on for Four Laning of Dangiywas to Jajiwal section Package-I of Jodhpur Ring Road in Rajasthan under NHDP Phase-VII.

The Supreme Court will hear today an appeal filed by ailing real estate major Unitech against an order of the NCLT directing the central government to take over the company.

Somany Ceramics has launched a new product series in tiles 'Glosstra Plus' - India's glossiest wall tiles post commissioning of a state of the art plant at Kassar (Haryana) having a capacity to produce 4.5 million square meters per annum of 300 mm x 600 mm Glosstra Plus tiles.

The board of Deepak Nitrite has approved raising of funds by way of qualified institutions placement of equity shares, up to an amount not exceeding Rs150cr, subject to the approval of members of the Company.

Asian Oilfield Services has received Letter of Award for 'Hiring of Services for 3D Seismic Data Acquisition and Processing of 250 sq. km of Jaisalmer PML in Rajasthan for a period of 12 months at an estimated contract cost of Rs69cr.

Torrent Pharma expanded insulin manufacturing for Denmark headquartered healthcare company Novo Nordisk.

Xpro India sold land located in Kolkata for Rs21cr.

Tata Teleservices total number of subscribers in Nov, down 4.1% at 70.74 lakh versus. 73.78 lakh in Oct.

NALCO cuts prices of sow, alloy ingots by more than 3% from Thu.

L&T Infotech completes acquisition of 100 percent stake in banking solution provider Syncordis SA.

Natco Pharma QIP opens at a floor price fixed at Rs 937.63 per share.

Canara Bank floats a request for proposal to select bankers to raise equity through a QIP.

Societe de Promotion et de Participation Pour la Cooperation sold 21.58 lakh shares or 1.2% equity stake at Rs136 each of JK Paper.

Societe Generale sold 14.88 lakh shares or 1.1% equity stake at Rs 270.05 each of Radico Khaitan.

Morgan Stanley France SAS sold 73.31 lakh shares or 0.8% equity stake at Rs 260.4 each of NBCC.

Morgan Stanley France SAS sold 28.24 lakh shares or 0.6% equity stake at Rs 100.65 each of SREI Infra.

Wipro buyback date revised to Dec 13.

 

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Sensex up over 100 points; Pharma, Auto Index lead

Benchmark indices held onto their gains from earlier in the session, helped by positive cues from other Asian equities and rise in shares of information technology companies.

At 12:52 PM, the Nifty50 Index was up 30 points, or 0.29% at 10,295 level, while the Sensex was at 33,250 points, up 0.34% or 112 points.

Shares of paper companies rose on reports that China has ordered closure of coal-powered paper plants, which analysts believe can aid margins of Indian companies.

Shares of Tata Motors came off day's low after it informed stock exchanges that it will increase passenger vehicles prices by Rs25,000 each starting January.

Unitech has moved SC against NCLT order suspending company's board of directors. The stock came off intraday highs, and was up 13%.

Gandhi Special Tubes informed exchanges that a meeting of the board of directors is scheduled to be held on December 18, 2017 to consider buy back of the fully paid up equity shares of the company, including matters related/incidental thereto. Stock rallies over 12%.

Alembic Pharmaceuticals today said that the US health regulator has granted fast track designation to its associate company Rhizen Pharmaceuticals SA's RP6530 (tenalisib), used in treatment of cancer.

The BSE Midcap Index and BSE Smallcap Index was up by 0.15% and 0.41%, respectively.

All sectoral indices on the NSE were trading in the green except Nifty Pvt banks Index.

Aurobindo (+2.5%), M&M (+2.03%), Lupin (+1.8%), Coal India (+1.3%) and Sun Pharma (+1.3%) were the top gainers on Nifty50.

Infratel (-1.2%), Indiabulls HF (-1%),  ONGC (-0.97%), Adani Ports (-0.95%) and NTPC (-0.89%) and were the top losers in today’s trade.

India VIX gained 4.29% as investors remained anxious over the exit poll predictions of Gujarat assembly elections and the US Federal Reserve's monetary policy meeting later this week.

Out of 2,001 stocks traded on the NSE, 937 advanced, 722 declined and 342 remained unchanged today.

A total of 97 stocks registered a fresh 52-week high in today's trade, while 18 stocks touched a new 52-week low on the NSE.

 

 

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Nifty hovers around 10,300 mark; Unitech surges 13%

Equity benchmarks rallied further in the morning trade on continuous buying by domestic institutional investors amid strong global leads.

At 12:17 pM, the Nifty50 Index was up 23 points, or 0.22% at 10,288 level, while the Sensex was at 33,335 points, up 0.25% or 84 points.

Max India's shares fell 4% after the Delhi government cancelled the licence of its Shalimar Bagh, Delhi hospital.

Shares of Unitech rallied for the second day, gaining 13% to Rs 8.25.

USFDA completes inspection at Granules India’s Virginia facility. Stock gained 3.5%.

L&T stock up 1% after 23.9 lakh shares change hands on BSE.

The BSE Midcap Index and BSE Smallcap Index was up by 0.16% and 0.43%, respectively.

All sectoral indices on the NSE were trading in the green except metal index.

Aurobindo (+1.8%),  Eicher (+1.76%), Wipro (+1.70%), Lupin (+1.6%), M&M (+1.4%) were the top gainers on Nifty50.

Adani Ports (-1.79%), Hindalco (-1.2%), Indiabulls HF (-0.9%), Vedanta (-0.8%) and Infratel (-0.7%) were the top losers in today’s trade.

India VIX gained 4.11%.

Out of 1,997 stocks traded on the NSE, 991 advanced, 375 declined and 643 remained unchanged today.

A total of 82 stocks registered a fresh 52-week high in today's trade, while 14 stocks touched a new 52-week low on the NSE. 

 

 

 

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BSE’s India INX gets SEBI nod for listing framework of debt securities

BSE’s India International Exchange (India INX), country’s first international exchange, received approval from the Securities and Exchange Board of India (SEBI) on the framework for the listing of debt securities.

MD & CEO, V. Balasubramaniam said, “We are delighted to receive approval for listing of international debt securities. This marks a landmark in India's effort to foray into international financial services. For the first time in India's IFSC at GIFT City, Indian and foreign issuers can now issue masala bonds, eurobonds and foreign currency bonds from India INX.”

The exchange had approached the regulator in October for its approval on the listing of debt securities.

India INX will also be the first Indian exchange to offer clearing and settlement of debt securities through International Central Securities Depositories. Earlier this year, the exchange had set up its clearing and settlement capabilities for international securities through Clearstream and is already in talks with Euroclear.

International issuers too may prefer to list their foreign currency bonds with India INX in time to come.

With the approval for debt listing, India INX expects a significant increase in its daily trading volumes. Currently, the exchange is clocking an average of $100 million of trading volume every day.  

“We are working towards offering a transparent and robust listing framework at par with other international listing venues. India INX is a wholly owned subsidiary of BSE which is a market leader in primary markets in India. So, our platform will provide an additional comfort of trust to the Indian issuers when they opt to raise funds internationally,” Balasubramaniam added. 

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Bulk Deals recap ahead of today's opening

Blue Star: SAIF India IV FII Holdings SOLD 1.82% equity stake i.e ~17 lakh. The stock closed ~2.4% higher in yesterday’s trade.

Religare Enterprises: Yes Bank SOLD 1.1% of equity stake i.e ~19 lakh shares. The stock rallied ~5% higher in yesterday’s trade.

Indoco Remedies: FS INV ICVI Stewart Investors Asia Pacific Fund SOLD 1.1% of equity stake i.e ~10 lakh shares. The stock rallied ~6.7% higher in yesterday’s trade.

Sadbhav Infra: Xander Investment Holding XCII SOLD 1% of equity stake i.e ~35.9 lakh shares. The stock rallied ~9.5% higher in yesterday’s trade.

Pincon Spirits: Lively Equipments Suppliers SOLD 0.5% of equity stake i.e ~2.25 lakh shares. The stock rallied ~4.1% lower in yesterday’s trade.

Ruchi Soya: Cresta Fund SOLD 1.1% of equity stake i.e ~36.9 lakh shares. The stock rallied ~4.7% lower in yesterday’s trade.

Rama Steel Tubes: Bharti AXA Life Insurance BOUGHT 0.6% of equity stake i.e ~1 lakh shares. The stock rallied ~1.5% higher in yesterday’s trade.

Source: Exchange Data..

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Nifty shuts above 21-DEMA, 10320 immediate resistance

Nifty recorded another solid session on Friday extending its winning streak to second consecutive session. Nifty formed another solid bullish candle stick in fact on observing the index has recovered almost four trading session’s losses in the past two days which depicts the rigor with which bulls made a comeback. Nifty has comfortably surpassed its 50-DEMA, its 21-DEMA and also closed above the same.

Going forward, the rising trendline which is visible on the daily chart which is placed around the 10320 levels is going to act a strong resistance zone. While, support is now upgraded to 10120 levels.

Bank Nifty on the other hand too recovered sharply and has also closed convincingly above the 50-DEMA. Going forward 25510 is the crucial resistance while support is upgraded to 25150 levels. 

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Nifty shuts above 21-DEMA, 10320 immediate resistance

Nifty recorded another solid session on Friday extending its winning streak to second consecutive session. Nifty formed another solid bullish candle stick in fact on observing the index has recovered almost four trading session’s losses in the past two days which depicts the rigor with which bulls made a comeback. Nifty has comfortably surpassed its 50-DEMA, its 21-DEMA and also closed above the same.

Going forward, the rising trendline which is visible on the daily chart which is placed around the 10320 levels is going to act a strong resistance zone. While, support is now upgraded to 10120 levels.

Bank Nifty on the other hand too recovered sharply and has also closed convincingly above the 50-DEMA. Going forward 25510 is the crucial resistance while support is upgraded to 25150 levels.

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Nifty settles above 10,250 mark

Benchmark indices closed higher on Friday for the second consecutive session in a row led by ITC, HDFC and ICICI Bank.

At 3:41 PM, the Sensex closed higher by 301 points or 0.91% at 33,250, while the Nifty50 gained 99 points or 0.97% to 10,266.

HPCL (+3.7%), ITC (+3.6%), IOC (+3.5%), BPCL (+3.02%), Sun Pharma (+2.6%) were the top gainers on the Nifty50.

Sonata Software stock gained 3.5% after the company said that its wholly owned subsidiary, Sonata Europe has entered into an agreement with IZARA ApS to acquire 15% stake in Danish company.

Infratel (-2.3%), GAIL (-1.7%), Zee (-1.5%), RIL (-1.1%) and SBI (-1.01%)  were the top losers.

India VIX dropped 5.40%.

Out of 1,582 stocks traded on the NSE, 940 advanced, 593 declined and 49 remained unchanged today.

A total of 91 stocks registered a 52-week high, while 16 stocks touched a new 52-week low on the NSE.

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Sensex gains over 250 points; Metal, FMCG Index lead

The Indian benchmark indices on Friday afternoon were trading on a positive note. Bank Nifty was the outperforming sector which was up close to 1% led by HDFC Bank, ICICI Bank, Yes Bank and Axis Bank.

Nifty PSU Bank was the only loser among sectoral indices, dipping  0.5%. Union Bank of India, SBI, Bank of India, Syndicate Bank, PNB, Andhra Bank and Canara Bank fell 0.2-1%.

All the BSE sectoral indices were trading higher, led by metal (+2.16%), auto (+1.1%), FMCG (+1.3%), Healthcare (+1.1%), Banks (+0.88%) and oil & gas (+0.51%).

At 1:42 PM, the S&P BSE Sensex was trading at 33,207, up 257 points, while the broader Nifty50 Index was ruling at 10,249, up 82 points.

In broader markets, the BSE Midcap and BSE Smallcap indices were up 0.8% and 1.05%, respectively.

Jet Airways stock slipped over 4% on weak quarterly earnings.

Shriram EPC was locked at 20% upper circuit after the company reported consolidated net profit of Rs14cr in Q2 September 2017, compared with net loss of Rs22cr in Q2 September 2016.

Sonata Software stock gained 3.5% after the company said that its wholly owned subsidiary, Sonata Europe has entered into an agreement with IZARA ApS to acquire 15% stake in Danish company.

Vedanta (+3.6%), Hindalco (+2.5%), Tata Steel (+2.3%), HDFC Bank (+2.2%) and Maruti (+2.1%) were the top gainers on Nifty50.

Infratel (-2%), GAIL (-1.8%), Hero MotoCorp (-0.9%), Asian Paints (-0.9%) and SBI (-0.9%) were the top losers in today’s trade.

India VIX dropped 2.69%.

Out of 1,989 stocks traded on the NSE, 1,125 advanced, 549 declined and 315 remained unchanged today.

A total of 76 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

 

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India Vix slumps as benchmark indices surge 1% each

Volatility gauge India VIX slumped as much as 9% today, tracking the surge in domestic and global equities today.

The Nifty50 and Sensex rose close to 1% each as risk appetite returned, and shares of metals and automobile companies soared.

At 11: 39 AM, India VIX was down over 1% at 14.0825.

Tata Steel, Hindalco, Vedanta, Maruti and UltraTech were the top gainers on Nifty50.

Infratel, Power Grid, NTPC, SBI and Asian Paints were the top losers in today’s trade.

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Indices extend gains; Sensex jumps over 200 points

Indian stock market extended gains from Thursday, on positive cues from other Asian equities and US markets overnight. The Sensex gained more than 150 points and the Nifty reclaimed the 10,200 level; the gains were led by Tata Motors, GAIL India and Coal India.

Indices were also supported by gains in shares of banks, automobiles and metal companies.

At 10:14 AM, the S&P BSE Sensex was trading at 33,168, up 219 points while the broader Nifty50 index was ruling at 10,237, up 70 points.

In broader markets, the BSE Midcap and BSE Smallcap indices were up 0.7% and 0.9%, respectively.

Shares of Future Consumer rose nearly 13% after brokerage firm Morgan Stanley initiated coverage on the stock with an "overweight" rating and a target price of Rs95, implying 61% gains from current level.

Shares of Jet Airways fell nearly 4% after the company posted a 91% fall in its Jul-Sep net profit to Rs50cr.

All sectoral indices on the NSE were trading in the green.

Tata Motors (+1.7%), Vedanta (+1.6%), Maruti (+1.4%), IndusInd Bank(+1.36%) and UPL (+1.3%) were the top gainers on Nifty50.

Infratel (-1.3%), Eicher (-0.67%), Asian Paints (-0.65%), NTPC (-0.64%) and Ambuja Cement (-0.53%) were the top losers in today’s trade.

India VIX dropped 2.99%.

Out of 1,980 stocks traded on the NSE, 1,199 advanced, 355 declined and 426 remained unchanged today.

A total of 46 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

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Broker Radar of stocks on Dec 8

Brokerage firms have updated their recommendations.

Credit Suisse on HDFC Bank:

• Maintained ‘Outperform’; raised price target to Rs 2,075 from Rs 1,955.
• Bank's CET1 at 12.2 %, similar to the levels seen in the financial year-ended March 2015.
• Expects bank to undertake next capital raise in in the next financial year.
• If $3 billion raised, then expect 4%  dilution and increase in capital base by 20%.
• $3 billion enough to support growth for next 3-4 years, if loan growth at 23-25%.
• Stock does well around capital raise as P/B premium moderates.
• An equity raise can equalise P/B multiples of HDFC Bank and Kotak.

Citi on JSW Energy:

• Maintained ‘Buy’; raised price target to Rs 93 from Rs 75.
• Signing of new power purchase agreements increases comfort.
• Strong cash flows despite untied capacity.
• Low visibility on PPA for Vijaynagar, but several other potential positives in making.
• Raised price target on the back of new PPA, improvement in cash flow and decline in net debt.

Morgan Stanley on Cyient:

• Maintained ‘Overweight’ with price target of Rs 620.
• Potential hiccups in communication vertical, but company reiterates outlook for the current financial year.
• Any delays in fibre rollout in Australia to have an impact on Cyient's business.
• Worst case impact to be 5-6% on the next financial year’s earnings estimates.
• Still believes Cyient is cheap relative to many mid-cap peers.

Morgan Stanley on Indian Telecom:

• Smaller operators’ merger or exit mean top incumbents/Jio could gain 10% market share in next 12 months.
• Tower companies to see near-term headwinds on consolidation, but rising data usage augers well.
• Remain constructive on tower companies over the medium term.
• TRAI’s recommendation to raise limit for overall spectrum holdings could be favorable for the top incumbent operators/Jio to augment their holdings if the spectrum is sold or auctioned.

Jefferies on Bharat Petroleum:

• Maintained ‘Underperform’ with price target of Rs 425.
• Fuel margins should rebound but refining headwinds loom.
• Less confident of margin momentum into the busy election calendar in the next financial year.
• Current quarter tracking to be a weak quarter with core earning per share down 25% on a sequential basis.
• Expect refining margins to rise to $8.5/bbl once Kochi stabilizes by the second half of next financial year.

Morgan Stanley on Future Consumer:

• Initiated ‘Overweight’ rating with price targetr of Rs 95; implying a potential upside of 61% from yesterday’s close.
• Expect Future Consumer to be India's fifth-largest FMCG Company by March 2021.
• Future Group’s retail ecosystem yields a unique competitive advantage.
• FCL can launch innovative products with a disruptive go-to-market strategy.
• Expect Future Retail to contribute over 90% of financial year-ending March 2020’s revenues, compared to 74% in the next financial year.
• Expect revenues to jump 3.2 times by March 2020; margins to expand by 470 basis points by March 2020.
• Scale-driven efficiencies, better fixed-cost absorption and product mix improvement to drive margin expansion.
• Bull Case price target Rs 194: Faster ramp-up of small format stores by FRL, and higher contribution of FCL brands.

HSBC on Escorts:

• Initiated ‘Buy’ rating with price target of Rs 835, implying a potential upside of 26 percent from yesterday’s close.
• Brand and profit growth back on track.
• New products to boost market share, margins, and profits.
• Expect Tractor volumes, revenue, EBIT and net profit to grow at a compounded rate of 10%, 13%, 33% and 45% respectively by March 2020.
• Cost cutting, improved product mix and increased capacity utilization to drive profits.
• Construction equipment to break even in the current financial year.
• Return on capital employed to improve to 23% by March 2020, compared to 11%, clocked in previous financial year.
• Positives: improved demand, favorable monsoons, increasing farm mechanisation and improving farming income.

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Benchmark indices sustained gains seen earlier in the session aided by a surge in automobile and infrastructure companies' shares, and on positive cues from European equities.

Shares of automobile companies rose on likely buying by foreign institutional investors. The Nifty Auto index was up 1.7% at 11204.8 points.

At 2:58 PM, the Sensex was up by over 287 points or 0.88% at 32,879, while the Nifty50 gained 107 points or 1.07% to 10,151.

Shares of D-Mart owner snapped two-day decline and gained 4% after a block deal. About 19.92 lakh shares worth Rs225cr changed hands in a single block deal.

Shares of Tata Motors Jaguar Land Rover (JLR) owner snapped two-day decline and rose as much as 2.1% to Rs405.3. JLR sales roses by 10% on a yearly basis last month, largely led by the new Land Rover Discovery and the Range Rover Velar.

Shares of L&T snapped two-day decline and rose as much as 2% to Rs1,215. The company's subsidiary L&T Hydrocarbon Engineering bagged an order worth Rs1,600cr from Hindustan Petroleum Corporation Ltd.

GAIL (+7.2%), UPL (+5.8%), Tech Mahindra (+4.8%), Airtel (+4.7%) and Tata Steel (+2.8%) were the top gainers on the Nifty50.

Coal India (-1.04%), Sun Pharma (-0.7%), TCS (-0.6%), Cipla (-0.3%), and Wipro (-0.5%) were the top losers in today’s trade.

India VIX dropped 4.58%.

Out of 1,989 stocks traded on the NSE, 1,224 advanced, 469 declined and 296 remained unchanged today.

A total of 47 stocks registered a fresh 52-week high in trade today, while 20 stocks touched a new 52-week low on the NSE.

 

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Nifty trades above 10,130 mark; GAIL, Tech Mahindra top gainers

The Indian benchmark indices reversed the losses made earlier in the week and gained 0.6% each, led by gains in utilities, capital goods, auto, power, metal, banks and financials counters.

Investors are refraining from taking fresh positions ahead of key events lined up next week, including the US Federal Reserve's policy review and elections in Gujarat. As a result of this, indices have been range bound this week.

At 1:45 PM, the Sensex was up by over 250 points or 0.79% at 32,854, while the NSE Nifty gained 80 points or 0.8% to 10,124.

Shares of D-Mart owner snapped two-day decline and gained 4% after a block deal. About 19.92 lakh shares worth Rs225cr changed hands in a single block deal.

Shares of Tata Motors Jaguar Land Rover (JLR) owner snapped two-day decline and rose as much as 2.1% to Rs405.3. JLR sales roses by 10% on a yearly basis last month, largely led by the new Land Rover Discovery and the Range Rover Velar.

Shares of L&T snapped two-day decline and rose as much as 2% to Rs1,215. The company's subsidiary L&T Hydrocarbon Engineering bagged an order worth Rs 1,600 crore from Hindustan Petroleum Corporation Ltd

The BSE Midcap Index and BSE Smallcap Index was up by 1%. Both these indices outperformed the Sensex.

All sectors on the NSE traded in green, except Nifty Pharma which was marginally down. Other sectors, including IT, FMCG, bank, auto, and media, all traded in green.

GAIL (+6.4%), Tech Mahindra (+4.8%), Bosch (+2.9%),  Bajaj Auto (+2.8%) and Eicher (+2.9%) were the top gainers on the Nifty50.

Coal India (-0.94%), TCS (-0.5%), Sun Pharma (-0.86%), Cipla (-0.73%), and Wipro (-0.4%) were the top losers in today’s trade.

India VIX dropped 3.6%.

Out of 1,988 stocks traded on the NSE, 1,206 advanced, 466 declined and 316 remained unchanged today.

A total of 44 stocks registered a fresh 52-week high in trade today, while 20 stocks touched a new 52-week low on the NSE.

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Top 10 stocks in focus today: Tata Motors, IDBI Bank, Claris Life Science

Sequoia Capital has exited its investment in local search engine Just Dial by selling shares in an open market transaction.

Tata Motors rolled out the first batch of the electric variant of its compact sedan Tigor from its Sanand facility in Gujarat.

The board of IDBI Bank has approved the sale of 27,99,999 equity share of NSDL constituting 7% of its total paid up equity capital held by IDBI Bank.

DLF reopens sales, sells Rs 300 crore flats in Gurgaon in Nov.

Infosys says it has submitted settlement plea with SEBI.

Claris Life Science’s board finds delisting option best for shareholders.

The finance and investment committee of Phoenix Mills has approved the issuance of Commercial Papers for an aggregate amount of up to Rs200cr, in one or more tranches.

Hatsun Agro has approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs900cr.

BEML has opened a spare parts and warehouse office in Pune, Maharashtra.

IRB Infra says CBI filed charge sheet in Pimpoli land case.

Quess Corp received NCLT Bengaluru’s approval to acquire facility management and catering business of Manipal Integrated services.

Bank of Maharashtra sets one-year MCLR at 8.65% from Dec 7.

Girik wealth advisors bought 70,000 shares or 0.6% stake at Rs 1399.52 each of Weizmann Forex.

 

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Sensex, Nifty open weak ahead of RBI policy; metal stocks drag

Benchmark indices opened lower today as caution prevailed ahead of RBI's monetary policy review outcome and on weak cues from the global markets.

Nifty was weighed down by losses in the metal and commodity companies following a sharp decline in the global copper prices. The Nifty Metal and Nifty Commodity index were down 1.7% and 0.6% respectively.

At 9:48 AM, the Nifty 50 was at 10,102, down 17 points or 0.16% from the previous close. The BSE Sensex was at 32,753, down 50 points or 0.15%.

The BSE Midcap index was down 0.61%, while the BSE Smallcap index remained unchanged.

Shares of Shilpa Medicare were down 4% as the USFDA issued 10 observations to the company's Telangana unit.

Shares of Dish TV fell over 1% after the company posted a consolidated loss for Jul-Sep as against net profit a year ago.

Tech Mahindra (+1%), Reliance Ind (+1%), Infosys (+1%), Kotak Mahindra Bank (+1%) and Zee Ent (+0.69%) were the top gainers on Nifty 50.

Hindalco (-2.5%), Vedanta, Tata Steel (-2%), Bajaj Auto (-1.2%) and Eicher (-1.1%) were the top losers in today’s trade.

India VIX dropped 0.51%.

Out of 1,971 stocks traded on the NSE, 902 advanced, 663 declined, and 436 remained unchanged today.

A total of 39 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.

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Force Motors trading flattish in response to November volume numbers

Force Motors Limited (FML) registered sales growth of 4% increasing from 1,622 units in November 2016 to 1,687 units in the month of November 2017.

Sales of SCVs and LCVs were 5.5% lower at 812 units in November 2017 vs. 859 units in November 2016. Sales of UVs, SUVs and Tractors at 875 units in November 2017 were 15% higher than the figure of 763 units sold in November 2016.

Exports, which constitute a small percentage (3%) of overall volumes were up 73% at 52 units in November 2017 vs. 30 units in November 2016.

The stock of FML was flattish (+0.10%) in response to its volume numbers, trading at Rs3,270/share at 10:18am. The stock attracted a total traded quantity of 20,000. The company has seen its consolidated revenues and PAT grow at 15% and 32% CAGR respectively over past three years and is almost debt-free.

FML is engaged in manufacturing light commercial vehicles, utility vehicles and engines. It is an automobile company, with a focus on design, development and manufacture of a range of automotive components, aggregates and vehicles.

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Nifty slips below 10,100 mark

Equity benchmark open lower on Tuesday following tepid Asian cues.

At 9:39 AM, the BSE Sensex 0.4% to 32,725 and Nifty 50 Index declined 0.32% to 10,095.

The BSE Mid-cap Index and BSE Small-cap Index were trading lower at 16,679 and 17,834 respectively.

HPCL, BPCL, Infosys, Sun Pharma and UltraTech Cement gained the most on Nifty50.

NTPC, Tech Mahindra, Vedanta, Hindalco and ONGC were the top losers in today’s trade.

India VIX up by 0.95% at 14.99 level.

Out of 1,975 stocks traded on the NSE, 563 advanced, 941 declined, and 471 remained unchanged today.

A total of 30 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opens higher at 64.30 per dollar against Monday's close of 64.37.

 

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Top 12 stocks in focus today: ONGC, Tata Comm, Nestle India

Nestle India on Monday declared an interim dividend of Rs33 per share for 2017.

Airline stocks in focus today as India’s domestic passenger traffic grew by 20.4% in October, a global airline association said.

ONGC partners in 6 pre-NELP blocks may have to share cess, royalty load

Tata Communications to invest up to Rs1.6bn in cloud business.

Bharti Airtel acquires strategic stake in Juggernaut Books.

Biocon sees $1bn from biosimilars in 5 years, as per media reports.

Aurobindo Pharma gets USFDA approved for generic of Seroquel XR tablet

Tata Motors' JLR Nov US total sales 9,862 units Vs 9,040 year ago

Moody's assigns Baa3 rating on REC's proposed dollar notes.

Eris Lifesciences completed acquisition of Strides Shasun’s India brand business.

Bank of Maharashtra QIP issue opens at a floor price of Rs26.89 per share.

Eros International Media’s parent Eros International Plc Announces $100 million equity-linked financing,

Indiabulls Real Estate says IPIT became a wholly owned unit. IPIT to get delisted from Singapore exchange.

Balaji Amines’ expansion project at Solapur conferred ‘Mega Project’ status.

Colgate India to consider second interim dividend on December 11.

 

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Top 15 stocks in focus today: Infosys, Tata Steel, Wipro

Salil Parekh has been announced as the new CEO and MD of Infosys with effect from Jan 2, 2018, for a period of five years. Interim CEO, Pravin Rao, will be re-designated as the COO of the company for the next five years.

Zee Learn is in talks with MT Educare, to buy a controlling stake in the company. Zee initially plans to buy the entire promoter share of 42.78% and later make an open offer for another 20% stake.

Biocon says USFDA approved trastuzumab, jointly developed with Mylan. The biosimilar is used for the treatment of patients with breast or metastatic stomach cancer.

Coal India production for November at 51.29 million tonnes. Offtake at 50.67 million tonnes.

Dr. Reddy’s gets Eir from USFDA for CPS facility at Telangana.

JSW Energy secured PPAS aggregating to 208 MW. Proportion of long-term ppas increased to 69.3% from 64.6% in July-September period.

Asahi India Glass to make a strategic investment in Timex group precision engineering.

Transformers & Rectifiers received order worth Rs127cr from Power Grid.

Tata Steel to acquire 74% stake in Bhubaneshwar power for Rs255cr from JL power ventures.

VST Tillers November sales up 34% yoy at 2,922 units.

TVS Motor November sales up 12% yoy at 2.51 lakh units.

Tata Motors November sales up 58% yoy at 52,464 units.

Hero Motocorp November sales up 26% yoy at 6.05 lakh units.

Wipro to contest $140 million lawsuits filed by National Grid U.S.

Eris Lifesciences to avail loan of Rs400cr from axis bank. loan proceeds to part-fund strides deal.

DLF to raise Rs11,250cr via CCDS, warrants and QIP.

Astral Poly Technik hikes stake in astral pipers, Kenya from 37.5% to 50%.

Mirc Electronic to raise Rs 144 crore via allotment of shares & warrants to the non-promoter group (Ashish Kacholia and others) at Rs37.53 per share/warrant.

Future Retail board approves the allotment of 93 lakh shares at Rs537 per share to hypercity retail shareholders.

REC to hold roadshow from Dec. 6, as per media reports.

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Indices end 1% lower; Reliance Industries, Infosys stock down

Benchmark indices corrected sharply for second consecutive session on Friday. The Nifty50 settles below 10,200 mark on the first day of December expiry.

Caution ahead of the weekend and an event-heavy month, coupled with short positions in the December series, weighed on indices.

For the week, Nifty and Sensex were down by 2.5% each. All sectoral indices ended in the red and PSU banks and realty stocks were the worst hit. Even the midcap and smallcap stocks were not spared.

The S&P BSE Sensex ended at 32,832, down 316 points, while the broader Nifty50 settled at 10,121, down 104 points.

On the global front, European markets were trading lower, while Asian markets also ended in negative zone as investors awaited the US Senate’s vote on tax reform legislation.

All NSE sectoral indices ended in the red today, with the PSU Bank indexlosing over 2% to be the biggest laggard.

Volumes were low as the money market is closed today on account of Id-e-Milad.

Among stocks, Biocon ended over 3% higher as the European Medicines Agency accepted its marketing authorization application for trastuzumab and pegfilgrastim.

 

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Indices end 1% lower; Reliance Industries, Infosys stock down

Benchmark indices corrected sharply for second consecutive session on Friday. The Nifty50 settles below 10,200 mark on the first day of December expiry.

Caution ahead of the weekend and an event-heavy month, coupled with short positions in the December series, weighed on indices.

For the week, Nifty and Sensex were down by 2.5% each. All sectoral indices ended in the red and PSU banks and realty stocks were the worst hit. Even the midcap and smallcap stocks were not spared.

The S&P BSE Sensex ended at 32,832, down 316 points, while the broader Nifty50 settled at 10,121, down 104 points.

On the global front, European markets were trading lower, while Asian markets also ended in negative zone as investors awaited the US Senate’s vote on tax reform legislation.

All NSE sectoral indices ended in the red today, with the PSU Bank indexlosing over 2% to be the biggest laggard.

Volumes were low as the money market is closed today on account of Id-e-Milad.

Among stocks, Biocon ended over 3% higher as the European Medicines Agency accepted its marketing authorization application for trastuzumab and pegfilgrastim.

 

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