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The matter has been referred to the Standing Committee on Technology, comprising of public interest directors and technology experts for review of the problem and to approve measures to prevent recurrence of such glitches.National Stock Exchange Press Release
Shares of the information technology firm hit upper circuit for the first time since December 12, 2016, after it made restructuring proposal to ad hoc committee of holders to its bonds.
The proposal contemplates extension of maturities of relevant debt instruments as well as relief from company’s debt service obligations.
The restructuring will effectively provide company will a “liquidity” bridge until it can return to more normal operations.
Bharat Heavy Electricals Ltd. had 30 lakh shares change hands in a single block deal.
Buyers and sellers were not immediately known.
Source: Bloomberg
The rise in the stock is the highest in more than three months.
#BQMarketsNow | TCS, Airtel, Tata Motors & Bank of Baroda gain more than 2% each.https://t.co/OhwStSJPDl pic.twitter.com/QiPtWnRWg5
— BloombergQuint (@BloombergQuint) July 10, 2017
Drugmaker Lupin Ltd. gained for the second straight day after it received a final approval for its Flucytosine Capsules USP, 250 mg and 500 mg from the U.S. FDA.
The approval is to market a generic version of Valeant Pharmaceuticals International Inc’s Ancoban Capsule, 250 mg and 500 mg. Flucytosine Capsules are rated generic equivalent of the Ancoban Capsules.
The capsules are used for the treatment of serious infections caused by susceptible strains of candida or cryptococcus, the company said in an exchange filing.
Shares gained as much as 3.42 percent to Rs 1,154.90 on the Bombay Stock Exchange.
Almost 40 minutes into resumption of trade on the National Stock Exchange, a notice on the exchange website says that it is facing a display issue.
While the display issue is being addressed, both the cash and derivatives market are functioning normally.
The central government has taken note of the glitch that halted trade at the National Stock Exchange for over three hours.
The government has asked for a report from capital market regulator Securities and Exchange Board of India (SEBI) on the issue, a government official told BloombergQuint.
The NSE will submit its report to the regulator post which it will be forwarded to the government.
SEBI will also take a call on any loss incurred by traders due to this glitch, the official added.
The 51-stock benchmark resumed trading at 9,727.65. Most sectoral indices traded with gains with PSU Banks and Pharmaceutical stocks leading the way.
The National Stock Exchange will make its fourth attempt at resuming trade post a technical glitch. A notice on the exchange website says that the pre-open session will be held from 12:15-12:22 p.m. While normal trade in cash as well as the Futures and Options segment will resume at 12:30 p.m.
For the Futures and Options segment, members will be given a 15 minute window to cancel their outstanding orders. The cancellation window shall be available from 12:15 p.m. to 12:29 p.m., the notice said.
Shares of Divi's Laboratories Ltd. hit upper circuit for the first time ever after the U.S. FDA decided to lift import alert 99-32 on the company's Unit-II at Visakhapatnam.
The drug regulator had issued an import alert in March 2017 under clauses 99-32 and 66-40 and a warning letter in May 2017.
The company in an exchange filing has said that it has taken appropriate remediation measures to address the concerns raised by the U.S. FDA.
Shares were trading higher by 17.2 percent to Rs 796 on the Bombay Stock Exchange.
The exchange said it will make its third attempt at restarting trade with a pre-market session at 11:00 a.m. This will be followed by normal cash market operations at 11:15 a.m.
The exchange issued this notice brokers on its Bolt platform.
The exchange continued to face technical issues as it attempted to restart trading operations via a pre-market session. The derivatives segment on the NSE will not open at 10:45 a.m., according to Bloomberg.
The National Stock Exchange is set to resume trade after a technical glitch brought activities to a halt for more than 90 minutes. The exchange will start pre-open trade at 10:30 a.m. while it will open for trade at 10:45 a.m.
Shares of the rating agency jumped as much as 13.5 percent, the most since June 29, after a report suggested that U.S.-based Fitch is looking to buy a stake in the company.
Fitch, through its 100 percent subsidiary, India Ratings, has approached some of the large shareholders of CARE, according to an Economic Times report.
Last month, Crisil had purchased a 8.9 percent stake in its domestic rival from Canara Bank, calling it just a financial investment.
A creeping acquisition or a hostile takeover is very much on cards, the report said quoting an unnamed source close to the matter. “The timing is a matter of conjecture.”
Shares of Reliance Communications Ltd. surged as much as 7.24 percent, the most since May 30, 2017 to Rs 24.60 after it presented a long-term debt reduction plan to its lenders, according to reports in the Economic Times.
The plan included sale of real estate, under-sea cable assets as well as the company's DTH business.
Execution of the plan is likely to reduce the telecom operator's debt by as much as 80 percent by December. The company is looking to raise Rs 11,000 crore by monetising key properties in Mumbai and Delhi, the report added.
Shares of Satin Creditcare Network Ltd. gained as much as 5.2 percent to Rs 316.60 after it decided to issue 12.3 lakh optionally convertible redeemable preference shares to Capital First Ltd. at an issue price of Rs 284.53 per share.
The proposed offer to issue shares is a part of the company's strategic planning initiatives. Promoters currently hold 31.74 percent stake in the company.
Capital First, which does not hold any stake in Satin Creditcare currently, is making a strategic investment in the company for accessing its widespread distribution channel to offer its products.
If the shares issued are converted today, it results in a total investment of Rs 35 crore.
Shares of Biocon Ltd. fell as much as 9.4 percent, the most since November 9, 2016, after the company failed to comply with good manufacturing practices (GMP) for three of its products at its Bengaluru facility, according to France's health regulator ANSM.
The report following the inspection pointed out 35 deficiencies, including 11 major deficiencies at the plant.
Biocon has said it will work with the authorities to ensure the plant is cleared soon.
#BQMarketsNow | Sensex rises 200 points.https://t.co/OhwStSJPDl pic.twitter.com/4Qy0ZtFqan
— BloombergQuint (@BloombergQuint) July 10, 2017
#BQMoney | Arvind Narayanan of DBS India sees the rupee depreciating to 65.20 levels against the U.S. dollar.https://t.co/OhwStSJPDl pic.twitter.com/gKCc677rd6
— BloombergQuint (@BloombergQuint) July 10, 2017
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The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, fell 0.21 percent to 9,653.
The Nifty futures pointed to weakness after the country’s capital market regulatory Securities and Exchange Board of India (SEBI) placed further restrictions on foreign portfolio investors (FPIs) issuing participatory notes where the underlying asset is a derivative. The regulator has warned that existing positions on un-hedged P-Note derivatives have to be liquidated by the end of the year 2020.
Meanwhile, stocks in Asia advanced after a stronger-than-expected U.S. jobs data reinstated confidence in global growth. Bond yields are rising worldwide as central banks stoke expectations for higher interest rates, while global stocks are close to all-time highs.
Oil rose 0.9 percent to $44.62 a barrel following its 2.8 percent slide last week.
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