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Rupee Gains With Stocks as India Said to Plan Steps on Currency
Shares of the Gurugram-based engineering company rose as much as 8.2 percent, the most in over a month, to Rs 20.50 after it won a contract from Nepal Electricity Authority.
The company has won an order for installation and commissioning of 11/0.4 kV distribution system, A2Z Infra Engineering said in an exchange filing.
Nifty Bank's 27,000 strike price call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract fell 86 percent to Rs 5.55. Over 18.89 lakh shares were added to the open interest which stood at 27.94 lakh shares.
Shares of the integrated pharmaceutical company fluctuated between gains and losses to trade at Rs 53.75 apiece.
The company's board has approved demerging Identified Real Estate Undertaking of the Company into Shreno Limited. The demerger would consist of a premium residential real estate project of Alembic Ltd., interest in real estate business held through investment in Shreno Ltd. and project management consultancy business, services of which are provided by the company to Shreno Ltd.
Bharat Petroleum Corporation Ltd. plans to invest Rs 1 lakh crore in upgrading its refinery, its Chairman and Managing Director D Rajkumar told BloombergQuint in an interaction.
Key highlights from the conversation:
GNA Axles Ltd. expects about 35 percent overall growth in the current financial year, its Wholetime Director Kulwin Seehra told BloombergQuint in an interaction.
Key highlights from the conversation:
The money market volatility is a key challenge for earnings growth, Kotak AMC's Chairman Nilesh Shah told BloombergQuint in an interaction.
Key highlights from the conversation:
Shares of the agribusiness company rose as much as 2.9 percent to Rs 594.35.
The company mulls to merge its subsidiary Astec LifeSciences with self on Sept. 14. The company holds a 57.4 percent stake in Astec Lifesciences, as reported to the exchanges.
Trading volume was 6.7 times its 30-day average, according to Bloomberg data. The stock has returned 1.8 percent so far this year, compared to a 11.2 percent advance in the Sensex.
Shares of the drugmaker fluctuated between gains and losses to trade at Rs 652.
The pharmaceutical company received approval for its HIV treatment combination medicine ‘TLD’ from the South African Health Products Regulatory Authority. This drug will be manufactured at the companies’ Durban and Uganda plants.
The stock traded at 25.6 times estimated forward earnings per share compared to 24 times for two-year historical average, according to Bloomberg data.
Buyers and sellers were not known immediately.
Source: Bloomberg
Shares of the supply chain solution fluctuated between gains and losses to trade at Rs 110.55 as of 9:30 a.m.
The company plans to consider share buyback on Sept. 17, according to its stock exchange notification.
Trading volume was 18.1 times its 20-day average, according to Bloomberg data. Redington India trades at 31.6 times trailing 12-month earnings per share and 9.2 times its estimates for the coming year.
Here's a lineup of all major corporate meetings over the next few days. 🤝
— BloombergQuint (@BloombergQuint) September 12, 2018
Read: https://t.co/6St0g0YDTQ pic.twitter.com/ZdxW7C14TV
India releases August consumer price inflation report at 5:30 this evening and which is expected to show price pressures easing. August CPI is estimated at 3.78 percent from a year ago, down from 4.17 percent in July and below the RBI's medium-term target of 4 percent.
That is mostly due to subdued food prices, but traders are most likely to see through this report as a weaker rupee and a high oil prices sour the outlook.
Indeed, traders are increasingly worried that high oil prices and a weakening rupee would force the central bank to raise rates sooner rather than later. The yield on the 10-year bond rose two basis points to 8.18 percent on Tuesday.
On the rupee front, there is little respite seen for the currency. The rupee weakened to close at 72.6950 on Tuesday, having hit a record low of 72.7375.
The implied opening from forwards suggests spot may start trading around 72.63 per dollar, although with oil prices rising due to Hurricane Florence, it may come under pressure in later trading.
Citi on HDFC AMC
HSBC on Oil & Gas
UBS on Steel
Credit Suisse on Titan
Deutsche Bank on Vodafone Idea
Deutsche Bank on Grasim
Macquarie on Lupin
Credit Suisse on Sun Pharma
Emkay on Apollo Tyres
Reliance Capital (Q1, YoY)
Government looking to raise Rs 345 crore by divesting 25% stake in Garden Reach Shipbuilders & Engineers.
— BloombergQuint (@BloombergQuint) September 12, 2018
Read more: https://t.co/LiJ6mfJeAy pic.twitter.com/YMMnqI5eCj
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