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UltraTech says cement industry will clock aggregate volume growth of under 5% in the September quarter. https://t.co/UE0NNaFJFH pic.twitter.com/mkKhbeVozC
— BloombergQuint (@BloombergQuint) July 19, 2017
Working on in-principle approval to ONGC plan, says Oil Minister Dharmendra Pradhan. pic.twitter.com/hZmMtBUYrV
— BloombergQuint (@BloombergQuint) July 19, 2017
Shares of the I.T. services company rose 20 percent to Rs 558, its highest level since April 2000, after reporting a strong set of first quarter earnings.
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#BQExclusive | Balaji Telefilms considering selling up to 26% stake in ALTBalaji, reports @dhanuka_saloni.https://t.co/7FgliDTJJ3 pic.twitter.com/89cR7sSDPT
— BloombergQuint (@BloombergQuint) July 19, 2017
Shares of the software solutions manufacturer fell for the fourth straight day after its net profit during the April-June quarter declined 60.1 percent.
While the company's Earnings before interest, tax, depreciation and amortisation fell 14.9 percent to Rs 12.81 crore, margins contracted to 10.9 percent from 12.8 percent during the year-ago period.
The stock has moved in-line with the S&P BSE Sensex Index in 2017 having gained 24.2 percent as compared to the index's gain of 20.8 percent.
Shares of the metal component maker fell as much as 9.6 percent, the most since November 2016. The company reported a 44 percent jump in its net profit during the April-June quarter compared to the corresponding quarter last year.
The company's earnings before interest, tax, depreciation and amortisation grew 21.38 percent to Rs 28.9 crore, margin contracted to 7.7 percent from 8.1 percent.
The stock has outperformed the S&P BSE Sensex index on a year-to-date basis having gained 136.03 percent compared to the index's gain of 19.64 percent during the same period.
L&T Finance Holdings Ltd. had 45 lakh shares worth Rs 67.15 crore exchange hands on the Bombay Stock Exchange at Rs 149.55 per share.
Buyers and sellers were not immediately known.
Heritage Foods Ltd. gained as much as 5.5 percent to Rs 1,179 after the board decided to consider sub-division of equity shares of the company on June 30, 2017.
Out of the 7 analysts tracked by Bloomberg, having coverage on the stock, four of them have a ‘Buy’ rating, two have an ‘accumulate’ rating while one has a ‘reduce’ rating on the stock.
The consensus price target of analysts tracked by Bloomberg is at Rs 1,345, which is 15 percent higher than the current market price.
The stock has outperformed the S&P BSE Sensex index on a year-to-date basis, gaining 32.43 percent compared to 19.66 percent gains of the benchmark.
Shares of Federal Bank Ltd. gained as much as 3.17 percent to Rs 117 after the Reserve Bank of India issued a notification stating an increase in the investment limit for foreign institutional investors (FIIs) to 74 percent of the bank’s paid up capital.
Previously, the foreign investment limit in the bank was fixed at 49 percent.
The 3.17 percent gain in stock is the most since June 1. The analysts' consensus price target of Rs 125.04 is 10 percent above the lender's current market price.
The stock has outperformed the S&P BSE Sensex index on a year-to-date basis having gained 71 percent versus the index's gain of 20 percent during the same period.
UltraTech Cement Ltd., in an investor presentation cited drought in Tamil Nadu, subdued demand for urban housing, compliance towards RERA and issues related to sand availability as some of the key concerns for the short to long-term.
The presentation also spoke about the impact on volumes due to sand shortage in the northern part of the country, subdued demand in the west and a slowdown in the south due to the drought in Tamil Nadu.
While infrastructure spending continues to remain a key growth driver, interest subvention scheme and expectations of a normal monsoon will be the key factors to look forward to, the presentation said.
Shares of the company fell as much as 1.75 percent, the most since June 27, 2017, to Rs 4,255 on the National Stock Exchange.
Shares of Reliance Capital Ltd. fell as much as 3.19 percent, the most since May 29, 2017, after 56 lakh shares or 2.2 percent of equity exchanged hands on the Bombay Stock Exchange.
The shares, amounting to a total of Rs 367 crore were exchanged at Rs 650.25 - Rs 653 per share.
Buyers and sellers of the shares were not immediately known.
Shares of the drugmaker gained as much as 8.23 percent, the most since May 30, after it received an approval from the U.S. FDA for the tablet version of the drug gRenvela.
IMS data estimates the market size for the drug to be as much as $1.8 billion. Deutsche Bank in its research note has estimates sales worth $128 million for the company via this drug.
Motilal Oswal in a similar note has projected sales to be in the range of $125-150 million.
The stock was also the top gainer on the Nifty Pharmaceutical Index, gaining for the fourth time in the last five trading sessions.
Despite the recent upmove, the stock has underperformed the S&P BSE Sensex on the year-to-date basis with gains of 15.81 percent compared to the benchmark's 19.69 percent.
#BQMoney | Veracity's Pramit Brahmbhatt remains neutral on the rupee. https://t.co/bjMATXLq5c pic.twitter.com/4gBLlRktmu
— BloombergQuint (@BloombergQuint) July 19, 2017
#BQWatchList | From U.S. FDA approvals to stake sales, @AgamVakil gets you the 5 things to watch today.https://t.co/bjMATXLq5c pic.twitter.com/dWicXEEtrd
— BloombergQuint (@BloombergQuint) July 19, 2017
#BQMarketsNow | Ruchit Jain of Angel Broking sees levels of 9,860-9,880 as an exit opportunity.https://t.co/bjMATXLq5c pic.twitter.com/WdR8mqt0pZ
— BloombergQuint (@BloombergQuint) July 19, 2017
For a complete list of stocks to watch, click HERE.
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India gained 0.1 percent to 9,868.
Asian stocks were mixed, after seven days of gains that pushed regional equities to the highest since the financial crisis. The dollar held at the lowest level in almost a year, as investors weigh the potential for tepid economic growth.
Part of that is due to signs that Trump’s healthcare reform bill is effectively dead in its current form, after two more Republicans senators announced their opposition to the plan.
The possibility of a rate hike from the U.S. Federal Reserve towards the end of the year has diminished over the past two weeks. Futures data tracked by Bloomberg project the odds at 40 percent.
Bloomberg Intelligence expects no change in rates ahead of the ECB meet on Thursday. No rate increases are projected until 2019.
West Texas Intermediate crude fell 0.3 percent to $46.27 per barrel. Gold declined 0.2 percent to $1,241.81 an ounce.
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