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Sensex, Nifty Snap 4-Day Losing Streak Led By Infosys

Sensex, Nifty Snap 4-Day Losing Streak Led By Infosys
An Electronic Ticker Board Indicates the Closing Figures of the BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
8 years ago
Tata Motors rose over 3 percent to Rs 411 after the company's sales rose 58 percent in November to 52,464 units.

  • Ramco Systems: The Chennai-based IT services firm rose as much as 11.17 percent, the most in over a month, to Rs 502. Trading volume was 12 times its 20-day average.
  • Kesoram Industries: The Kolkata-based auto part maker rose as much as 13.31 percent, the most in nearly six months, to Rs 148.60. Trading volume was 9.9 times its 20-day average.
  • Rupa & Company: The Kolkata-based innerwear maker rose as much as 8.69 percent, the most since Dec. 1, to Rs 500.20. Trading volume was 7.8 times its 20-day average.
  • Ramkrishna Forgings: The Kolkata-based fabricated metal and hardware company fell as much as 2.65 percent, the most since Nov. 30, to Rs 726.30. Trading volume was 11.1 times its 20-day average.

Transformers & Rectifiers: The Gujarat-based electrical power equipment maker rose as much as 5.5 percent, the most since Nov. 30, to Rs 34.50 after it received an order worth Rs 127 crore. With this order, its order book as on date stands at around Rs 937 crore.

Setco Automotive: The Mumbai-based auto component maker rose as much as 14.96 percent, the most in over a year, to Rs 48.40 on the back of strong earnings.

  • Revenues up 31 percent at Rs 135 crore.
  • Net profit up 1,300 percent at Rs 14 crore.
  • Other income of Rs 7 crore.
  • Ebitda up 54 percent at Rs 18.5 crore.
  • Margins at 13.7 percent versus 11.7 percent.

FIEM Industries: Shares of the Haryana-based auto part maker rose as much as 7 percent, the most in nearly six months, to Rs 953.40 after it signed pact with Asia Industry and Toyota Tsusho Corporation, Japan for establishing joint venture company in India to make Fuel Pump Module and IC Connector Assembly for two and three wheelers.

Jubilant Life Sciences: Shares of the Noida-based pharmaceutical company rose as much as 5 percent to Rs 730 after central government's green panel gave go-ahead for setting up a technical grade pesticide manufacturing unit in Gujarat, which would entail an investment of Rs 250 crore, news agency Press Trust of India reported.

Shares of cement companies were trading lower after the Union Petroleum and Natural Gas Minister Dharmendra Pradhan said the government is planning to curb the imports of petroleum coke, also known as 'pet coke', which is believed to be a major polluter, news agency Press Trust of India reported.

  • Ambuja Cements fell 1.31 percent
  • Shree Cement declined 1.72 percent
  • Dalmia Bharat fell 0.44 percent
  • Grasim Industries slipped 1.15 percent
  • Ramco Cements declined 1.16 percent
  • Century Textiles and Industry slipped 0.74 percent
  • OCL India declined 0.94 percent

Shares of the Haryana-based auto part maker rose as much as 7 percent, the most in nearly six months, to Rs 953.40 after it signed pact with Asia Industry and Toyota Tsusho Corporation, Japan for establishing joint venture company in India to make Fuel Pump Module and IC Connector Assembly for two and three wheelers.

Moody's Investors Service expects oil to remain in the $40-60 per barrel range through 2018.

Recent higher oil prices have been supported by expected global economic growth and production restraint by major producing countries, as well as greater geopolitical risk. However, risks to prices, as seen in mid-2017, still persist including reduced consumption at higher prices and increased supply, said Moody’s Investors Service.

Shares of the Noida-based pharmaceutical company rose as much as 5 percent to Rs 730 after central government's green panel gave go-ahead for setting up a technical grade pesticide manufacturing unit in Gujarat, which would entail an investment of Rs 250 crore, news agency Press Trust of India reported.

An Expert Appraisal Committee (EAC) on industry, set up by the environment ministry, vetted the proposal in a meeting recently, the report said.

Meanwhile, BSE has sought clarification from the company on this development following the news report.

  • Indian equity benchmarks were trading higher in noon deal led by gains in Infosys, HDFC and Tata Motors.
  • The S&P BSE Sensex rose 0.3 percent to 33,929 and the NSE Nifty 50 Index advanced 0.3 percent 10,151.
  • Fifteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE IT Index's 1.76 percent gain. On the other flipside, the S&P BSE Energy Index was the top sectoral loser, down 0.4 percent.
  • From the Nifty 50 basket of shares, 27 were trading higher while 23 were among losers.

Shares of 63 Moons Technologies which was earlier known as Financial Technologies (FTIL) fell as much as 5 percent, the most since Nov. 14, to Rs 131.10 after the Bombay High Court Dismissed FTIL's writ petition and allowed merger of National Spot Exchange Ltd with Financial Technologies Ltd (FTIL).

The court gave parties 12 weeks for the procedure.

Shares of the automobile company rose as much as 3.1 percent, the most in nearly one month, to Rs 411.25 after its sales rose 58 percent (YoY) to 52,464 units versus 33,274 units in November.

  • Difficult to predict how market will grow in coming months
  • Can maintain market share if market grows slowly and we keep up production
  • Can't maintain market share if demand grows faster than production
  • Ability to maintain market share depends on car demand
  • Total capacity of unit when run on both shifts will be 20,000 per month
  • Should reach 20,000 mark in next 4-5 months
  • Total capacity of unit when run on both shifts will be 20,000 per month
  • Commodity price rise has an adverse effect on total production cost
  • Hedging done earlier this year has offset commodity price rise impact
  • Need for price rise will depend on all the factors including production cost
  • The decision for price increase will be taken in the due course of time
  • Decision on EVs cannot be delayed any further
  • Government policy on EVs is very clear
  • Maruti as the no. 1 car manufacturer has to conform to government policy
  • Suzuki along with Toyota is trying to give Maruti a leading edge in EV market
  • Demand for the new Dzire is very high
  • Would be ramping up production of Dzire to 20,000 per month
  • Will launch an SUV higher than 4 meters

Shares of the country's second largest software exporter rose as much as 2.88 percent, the most since Nov. 23, to Rs 986.40 after its board of directors appointed Salil Parekh as managing director and chief executive officer of the company.

Parekh will take charge from interim CEO UB Pravin Rao on Jan.2, 2018. The development comes nearly four months after Vishal Sikka’s resignation.

Shares of the Mumbai-based educational service provider rose as much as 14.05 percent, the most since Nov. 30, to Rs 92.95 as Subhash Chandra promoted Zee Learn is in talks with MT Educare to buy controlling stake in the company, The Economic Times newspaper reported.

Zee initially plans to buy the entire promoter block of 42.78 percent and will make an open offer for another 20 percent stake, the newspaper reported citing multiple sources.

Shares of the Mumbai-based auto parts maker rose as much as 10.21 percent, the most since Nov. 29, to Rs 46.40.

  • Revenues up 31 percent at Rs 135 crore.
  • Net profit up 1,300 percent at Rs 14 crore.
  • Other income of Rs 7 crore.
  • Ebitda up 54 percent at Rs 18.5 crore.
  • Margins at 13.7 percent versus 11.7 percent.

Shares of the Mumbai-based electronic products maker rose as much as 7.3 percent, the most since Nov. 30, to Rs 55.65 after company raised Rs 144 crore via allotment of shares and warrants to non-promoter group (Ashish Kacholia and others) at Rs 37.53 per share and warrant.

  • Gujarat elections dictating market movement for now
  • Street worried about GDP having topped out
  • Market believes BJP will win, margin of win key to watch
  • Have been valuing markets based on liquidity in the last 1 year
  • Do not expect big earnings surprise next year
  • Expect Nifty earnings growth of 10-12 percent on FY19 basis
  • Margin levels would be key to watch for Infosys going ahead
  • Infosys a value pick at current price
  • Midcap IT like Mastek, L&T Infotech outperforming Largecap IT shares

  • Rupee opens lower at 64.55 per dollar against Thursday's close of 64.46.

  • Nifty December futures trading at 10,154, premium of 32 points versus 52 points
  • December Futures- Nifty open interest up 3 percent, Bank Nifty open interest up 8 percent
  • India VIX at 14.7, up 9 percent
  • Max open interest for December series at 10,500 call, open interest at 57.8 lakh shares, up 17 percent
  • Max open interest for December series at 10,000 put, open interest at 79 lakh shares, up 15 percent

  • Alphageo
  • Fiem Industries
  • GPT Infra
  • Lumax Auto
  • Nestle India
  • Sandur Manganese
  • Shirpur Gold
  • Shree Pushkar Chemicals
  • Southern Petro
  • Virinchi

Setco Automotive (Q2, YoY)

  • Revenues up 31 percent at Rs 135 crore.
  • Net profit up 1,300 percent at Rs 14 crore.
  • Other income of Rs 7 crore.
  • Ebitda up 54 percent at Rs 18.5 crore.
  • Margins at 13.7 percent versus 11.7 percent.

Mahindra Logistics (H1, YoY)

  • Revenues up 37 percent at Rs 1,688 crore.
  • Net profit up 29 percent at Rs 28.7 crore.
  • Ebitda up 48 percent at Rs 51.8 crore.
  • Margins at 3.1 percent versus 2.9 percent.

Escorts Ltd

  • Escorts Benefit and Welfare Trust sold 36 lakh shares (2.9 percent) at Rs 701.15 each
  • Emerging Markets Equity Fund bought 23.7 lakh shares (1.9 percent) at Rs 697.65 each

5Paisa Capital

  • Altavista Capital India Fund bought 1.19 lakh shares (0.5 percent) at Rs 199.89 each
  • Lobco Ltd bought 88,906 shares (0.5 percent) at Rs 198.83 each

Digjam Ltd

  • JSL enterprises bought 4.55 lakh shares (0.5 percent) at Rs 18.85 each

Sri Adhikari Brothers

  • Canara Bank securities sold 2.17 lakh shares (0.6 percent) at Rs 18.9 each

Sadbhav Infra

  • Xander Investment Holding XVII Ltd sold 1.20 crore shares (3.4 percent) at Rs 136.02 each

Hubtown

  • Epoch Synthetics sold 3.8 lakh shares (0.5 percent) at Rs 134.3 each

Mold Tek

  • UNO Metals bought 2.08 lakh shares (0.8 percent) at Rs 74.91 each
  • N G Industries sold 2.10 lakh shares (0.8 percent) at Rs 75.54 each

Apcotex Industries

  • Promoter Devanshi Anant Veer Jalan sold 1.26 lakh shares (0.6 percent) at Rs 471.05 each

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