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Sensex, Nifty Buck Asia Slump As BJP Seen Winning Key State Election

Sensex, Nifty Buck Asia Slump As BJP Seen Winning Key State Election
An employee walks along a pathway at the National Stock Exchange (NSE) in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)
8 years ago
Indian equity benchmarks extended gains for a second day after the exit polls predicted a victory for BJP key states.

Shares of the Kolkata-based electronic products maker rose as much as 2.5 percent to Rs 435 after it received order for supply of ceiling fans from ministry of power worth Rs 22 crore. It also won an order from Kolkata Municipal Corporation for supply of LED lights worth Rs 1.71 crore, Eveready said in a stock exchange filing.

Shares of the tyre manufacturers were buzzing in trade today.

  • JK Tyre rose 8.2 percent
  • TVS Srichakra rose 1.6 percent
  • Modi Rubber advanced 2.7 percent
  • Ceat gained 3.4 percent
  • Apollo Tyres rose 3.7 percent
  • Balkrishna Industries rose 2.2 percent
  • MRF gained 3 percent

Shares of the Pune-based feriliser maker rose as much as 5.15 percent, the most since Dec. 11, to Rs 406.50 after an arbitration tribunal rejected GAIL India's Rs 357 crore claim arising out of a dispute between the two on terms of usage of gas supply.

Renaissance Jewellery: The Mumbai-based jewellery maker was locked in 20 percent upper circuit at record high of Rs 275.45.

  • Revenue up 2.5 percent to Rs 272 crore.
  • Net profit up 23 percent to Rs 9.6 crore.
  • Ebitda up 19 percent to Rs 16.5 crore.
  • Margins at 6.1 percent versus 5.2 percent.

Vedanta: The Panaji-based metal maker rose as much as 4.6 percent, the most in four months, to Rs 297.70 after Credit Suisse initiated coverage on the stock with an 'outperform' for target price of Rs 345.

Credit Suisse in a note said:

  • Aluminium business is most important for incremental profits.
  • Global supply-demand and surging raw material prices bodes well for Aluminium.
  • Zinc prices have peaked and despite planned volume growth, Hindustan Zinc is fully valued.
  • Much of the ex-HZL upside is purely execution-dependent.
  • Vedanta not expensive even after adjusting for Hindustan Zinc.
  • Volume projections are below company guidance, and remains risk to rating.

TV Today: The Delhi-based news channel operator rose as much as 5.7 percent, the most since Dec. 7, to Rs 409 after the company approved merger with subsidiary India Today.

JK Tyres: The Delhi-based tyre maker rose as much as 10 percent, the most in nearly three months, to Rs 142 on the back of heavy volumes. Trading volume was eight times its 20-day average.

Shares of the Bangalore-based drug maker rose as much as 5.5 percent, the most in over a month, to Rs 1,179 after the company planned to launch XIGDUO XE tablets in India in Q4FY18. The drug is used for the treatment of Type 2 diabetes in adults.

  • Kotak Mahindra Bank had 34 lakh shares change hands in six blocks
  • India Cements has 40 lakh shares (1.4 percent equity) change hands in three blocks on NSE and BSE at Rs 166.35-166.40 per share.
  • Tech Mahindra has 10 lakh shares change hands in a single block.
  • V-Guard Industries has 31 lakh shares change hands in two blocks.
  • ICICI Bank: About 80 lakh shares changed hands in a block deal.
  • Bharti Airtel: About 30 lakh shares changed hands in a block deal.
  • Buyers and sellers were not known immediately.

    Source: Bloomberg

  • Merck: The Mumbai-based drug maker rose as much as 8.5 percent, the most in over two months, to Rs 1,285. Trading volume was 21 times its 20-day average.
  • Great Eastern Shipping: The Mumbai-based shipping company rose as much as 3.12 percent, the most since Nov. 30, to Rs 398.50. Trading volume was 7.1 times its 20-day average.
  • Future Consumer: The Mumbai-based packaged food company rose 7.72 percent, the most since Dec. 8, to Rs 70.40. Trading volume was 5-times its 20-day average.
  • Cyient: The Hyderabad-based engineering service provider rose as much as 1.8 percent, the most since Dec. 8, to Rs 563. Trading volume was 4.9 times its 20-day average.

  • Indian equity benchmarks maintained gains led by buying interest in HDFC Bank, HDFC and Larsen & Toubro.
  • The S&P BSE Sensex rose 0.87 percent or 289 points to 33,537 and the NSE Nifty 5o Index advanced 0.93 percent or 95 points to 10,347.
  • All sector gauges compiled by BSE were trading higher led by the S&P BSE Metal Index's 2.6 percent gain.
  • Gains were broad-based as the S&P BSE MidCap Index rose 1 percent and the S&P BSE SmallCap Index advanced 1.3 percent.
  • From the Nifty 50 basket of shares, 40 were advancing while 10 were declining.

Shares of Adani group companies were trading higher after various exit polls suggested BJP will come back to power in Gujarat.

  • Adani Power rose as much as 4.2 percent to Rs 35.75
  • Adani Enterprises gained as much as 4.3 percent to Rs 155
  • Adani Ports and SEZ advanced as much as 3.26 percent to Rs 408
  • Adani Transmission rose as much as 5 percent to Rs 201.95

Winter session of Parliament has begun today. Key legislations like triple talaq bill and Financial Resolution and Deposit Insurance (FRDI) Bill will be tabled in Lok Sabha in the winter session of Parliament.

Veto Switchgears and Cables: The Jaipur-based electrical accesories maker rose as much as 7.8 percent, the most since Dec. 12, to Rs 237.

  • Revenue up 9 percent to Rs 64 crore.
  • Net profit up 58 percent to Rs 8 crore.
  • Ebitda up 76 percent to Rs 12 crore.
  • Margins at 19 percent versus versus 12 percent.

Renaissance Jewellery: The Mumbai-based jewellery maker was locked in 20 percent upper circuit at record high of Rs 275.45.

  • Revenue up 2.5 percent to Rs 272 crore.
  • Net profit up 23 percent to Rs 9.6 crore.
  • Ebitda up 19 percent to Rs 16.5 crore.
  • Margins at 6.1 percent versus 5.2 percent.

Rollatainer: The Haryana-based packaging copany rose as much as 4.37 percent to Rs 6.21.

  • Revenue up 10 percent to Rs 35.2 crore.
  • Net profit of Rs 18.4 crore versus net loss of Rs 4.4 crore.
  • Ebitda loss of Rs 0.33 crore versus Ebitda loss of Rs 0.93 crore.
  • Margins at -0.9 percent versus -2.4 percent.
  • Exceptional gain of Rs 33.5 crore in Q2FY18.

VIP Clothing: The Mumbai-based innerwear maker rose as much as 12.91 percent, the most since Dec. 1, to Rs 67.80.

  • Revenue rose 11.6 percent to Rs 64.32 crore.
  • Net profit at Rs 3.85 crore versus loss of Rs 7.31 crore

Shares of the Panaji-based metal maker rose as much as 4.6 percent, the most in four months, to Rs 297.70. The company's board will meet on Dec. 19 to discuss raising Rs 500 crore via non-convertible debentures, Vedanta said in a press release.

Shares of the Bangalore-based integrated business service provider rose as much as 2.5 percent to Rs 1,048.70 after it completed acquisition of 45 percent equity in Simpliance Technologies, Quess Corp said in a stock exchange notification.

Shalby Ltd. made its stock market debut at a discount of 4.4 percent at Rs 237 per share on the BSE Ltd. compared to its issue price of Rs 248 apiece.

The Ahmedabad-based hospital’s Rs 504 crore initial public offering saw moderate demand with bidders subscribing 1.08 times till the final day. Most of the demand came in from qualified institutional buyers.

  • Nifty PCR at 1.27 from 1.25.
  • Nifty Bank PCR at 1.05 from 0.87.

  • Astron Paper & Board Mill IPO at Rs 45-50 a share opens, closes on Dec. 20
  • Shalby Ltd. to start trading on BSE/NSE after selling shares at Rs 248 each in IPO that got 2.82 times demand

  • Sumeet Industries goes ex-rights basis from today.
  • Waterbase circuit filter revised to 10 percent.

Religare Enterprises

  • IDBI Trusteeship sold 1.1 crore shares or 6.3 percent equity at Rs 58.5 each.
  • India Horizon Fund bought 71.50 lakh shares or 4 percent equity at Rs 58.5 each.
  • Bay Capital Advisors bought 21.25 lakh shares or 1.2 percent equity at Rs 58.5 each.

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