Nifty Reclaims 9,300 In A Volatile Session; Cement Makers Slide
#BQMarketsNow | Will the Nifty hold on to 9,300?
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#BQSpotted by @iYashUpadhyaya | Pudumjee Pulp hits 20% upper circuit.https://t.co/Nb6s3W67z4 pic.twitter.com/zr7HJDJPVa
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Shares of the Anil Ambani owned company jumped as much as 9 percent, the most since June 8, 2016 after it received CDR empowered group approval to exit debt refinancing scheme.
The door-to-door tenure of the company’s term loan was extended to 18 years, it said in exchange filing, adding the existing debt of about Rs 650 crore will be converted to equity at Rs 59.35 per share.
- Nifty +0.11% at 9,314; Sensex +0.08% at 29,943
- Lupin -2.1%; ONGC +3.5%
- S&P BSE Realty index +2.2%, S&P BSE Capital Goods index +0.8%
Shares of the paint maker climbed as much as 1.7 percent to Rs 399.80, most since April 2017.
Q4 net profit Rs 116 crore vs estimate Rs 105 crore; company to pay special dividend of Rs 0.5 per share.
Stock has gained nearly 25 percent year-to-date vs 12.6 rise percent for Sensex.
- PNC Infratech: 36 lakh shares change hands in a single block
- IDFC: 49 lakh shares change hands in a block
- Nifty +0.01% at 9,306; Sensex -0.03% at 29,908
- Ambuja Cements -3.7%; Indiabulls Housing Finance +3.9%
- S&P BSE Realty index +2%, S&P BSE Consumer Durables +1%
- Shares up as much as 6.6% to Rs 335, most since December 2016
- Q4 net profit Rs 23.2 crore vs Rs 12.8 crore last year
- Q4 revenue jumps nearly 36% to Rs 74.9 crore
- ACC (-2.9%)
- Ambuja Cements (-3.9%)
- UltraTech Cement (-1.3%)
- Prism Cement (-2.6%)
- Shree Cement (-1.9%)
- Stock down as much as 2.9% to Rs 82.90, most since December 2016
- April sales 7,083 units vs 10,182 units last year
- Stock up 5% year-to-date vs 12.3% rise for Sensex
- Nifty -0.11% at 9,294; Sensex -0.13% at 29,879
- Ambuja Cements -3.5%; Tata Motors -2.9%
- S&P BSE Power index -0.4%, Nifty IT index -0.22%
Manufacturing PMI expands for the fourth consecutive month. https://t.co/tllwaaFhfU pic.twitter.com/hSkK1dfnp7
— BloombergQuint (@BloombergQuint) May 2, 2017
Shares of cement maker fell as much as 3.2 percent to Rs 237.95, most since December 2016.
Ambuja Cements’ first-quarter net income at Rs 247 crore vs estimate Rs 254 crore.
Volume at 14,700 times 30-day average.
Shares of cable maker slumped 10.5 percent to Rs 107, hit lower circuit for a third straight session.
Shilpi Cable denied reports suggesting that the company has filed for insolvency and bankruptcy.
Relative strength index at 12, indicating tha the stock may be oversold.
All you need to know about RERA.https://t.co/FaNh9Uv8Hx pic.twitter.com/d64s9rahnu
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Shares of Future Enterprises climbed as much as 10 percent to Rs 34, highest since October, 2013.
Future Supply Chain Solutions Ltd. to have an IPO this year, Group CEO Kishore Biyani said.
Volume at 7.4 times its 30-day average.
- Bharat Financial: (-4%): Q4 net loss Rs 235 crore vs profit Rs 84.5 crore last year
- JSW Energy (-4.8%): Q4 net profit Rs 23.7 crore vs estimate Rs 188 crore
- Raymond (-2.4%): Q4 net income Rs 33 crore vs estimate Rs 38.2 crore
- Uttam Galva (+8%): Q4 net income Rs 139 crore vs loss Rs 671 crore
Indian shares opened higher, snapping two sessions of declines led by automakers after April sales growth while positive Asian cues also lifted sentiment.
The S&P BSE Sensex rose 0.36 percent to 30,033, while the NSE Nifty advanced 0.29 percent at 9,335.
Among the sectoral indices, S&P BSE Auto index gained 0.44 percent while S&P BSE Metal index rose 1 percent.
The market breadth was skewed in the favour of gainers, with about 7 stocks advancing to every 2 stocks that declined.
- GAIL India: Received pipeline laying work contracts worth Rs 200 crore.
- Dr. Reddy's Laboratories: U.S. FDA issued form 483 with 11 observations for manufacturing plant-3 at Bachupally in Hyderabad.
- Lupin: U.S. FDA issued form 483 citing three observations for Goa facility.
- Aurobindo Pharma: Completed acquisition of 100 percent stake in Generis Farmaceutica.
- Punjab National Bank: Board approved raising funds up to Rs 3,000 crore via issue of compliant Tier-I and II bonds each.
- IDFC: Approved borrowing of funds up to Rs 10,000 crore through issuance of non-convertible debenture and commercial papers.
- Sintex: Allotted 36.5 lakh equity shares to FCCB holders one exercise of their conversion right.
- DCB Bank: Raised Tier-I capital worth Rs 379 crore via QIP.
For a complete list of stocks, click HERE
Four things that matter for markets this week, writes @elerianm. https://t.co/fQ87UI2Lmu pic.twitter.com/zaD0ZKLFDE
— BloombergQuint (@BloombergQuint) May 1, 2017
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