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Vedanta Ltd.’s Anil Agarwal said aluminium prices could rise around 50 percent after U.S. sanctions on Russia’s United Co. Rusal, the biggest producer of the base metal outside China.
Prices should vary between $2,500 and $3,000 a metric tonne if the situation (sanctions on Rusal) continues, Agarwal, chairman of metals-to-mining conglomerate Vedanta, told BloombergQuint in an interview. “India will have a great advantage due to the sanctions.”
Buyers and sellers were not immediately known
Source: Bloomberg
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Shares of the Gujarat-based pipe maker rose as much as 4.2 percent to Rs 148.10 after it won order for supply of 4.17 lakh million tonnes of large diameter pipes for a water project in MENA, the company said in an exchange filing.
With the current order, company's order book stands at an all-time high of 1.49 million MTs valued at Rs 9,544 crore.
Shares of the Rajasthan-based lead products maker rose as much as 3.37 percent to Rs 177.90 after it started commercial production of PPCP granules from its plant situated at Chittoor in Andhra Pradesh.
#JustIn | Monnet Ispat Committee of Creditors approves resolution plan submitted by JSW-AION consortium with 98.97% majority.
— BloombergQuint (@BloombergQuint) April 10, 2018
(Source: Stock Exchange Filing)https://t.co/2iqC3hyoWy pic.twitter.com/lLdbVMGUK3
Shares of the sugar manufacturers were trading higher in trade today.
Shares of the Azim Premji-led company fell as much as 2.6 percent, the most in over two weeks to Rs 277.75 after the company said that its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings, according to a PTI report.
The stock was among the worst performers on Nifty 50 index. It has declined 10.9 percent so far this year, compared to 7.5 percent gain in NSE Nifty IT Index.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Hyderabad-based drugmaker rose as much as 1.96 percent to Rs 777 after its board of directors on Monday approved issuing 16.75 lakh shares of face value of Rs 10 each through qualified institutional placement (QIP).
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Shares of the Mumbai-based logistics service provider rose as much as 3.8 percent to Rs 692.10 after the Reserve Bank of India allowed raising foreign portfolio investment (FPI) limit on the company to 49 percent from 24 percent.
Shares of the Mumbai-based private sector lender rose as much as 1.4 percent to Rs 320.70 after the bank said that its board will meet on April 26 to discuss fundraising plan via share sale and will also discuss re-appointing Rana Kapoor as managing director and CEO of the bank for a period of three years.
Shares of the country's third largest private lender rose as much as 3 percent to Rs 534.85 after its managing director and CEO Shikha Sharma wanted her new term to be reduced to seven months from three-year tenure that has been approved by the bank's board.
The Axis Bank board has accepted her request for a shorter seven-month term (from June 1 to December 31, 2018), subject to the approval of the Reserve Bank of India (RBI), the bank said in a regulatory filing.
The rupee rose 14 paise to 64.88 against the US dollar in early trade at the forex market today on increased selling of the greenback by exporters and banks.
Also, a higher opening of domestic equities supported the rupee, but the dollar's recovery against some currencies overseas, restricted the local unit's upmove, forex dealers said.
Yesterday, the rupee had retreated from its one-month high to close 5 paise lower at 65.02 against the US currency on fresh bouts of dollar demand from importers and corporate investors amid forex outflows.
Source: Press Trust of India
Here’s how foreign and local funds played the market on Monday.https://t.co/MCNryNA4Hy pic.twitter.com/lzzdXArzZe
— BloombergQuint (@BloombergQuint) April 10, 2018
Investors will focus on a sale of Rs 19,700 crore of state bonds today even as the yield on benchmark bonds climbed for a second day. Though Indian government bonds have roared back from a seven-month selloff, state-run lenders, who are the biggest holders of sovereign debt, have remained net sellers.
The rupee is seen weakening along with other Asian currencies amid news of China evaluating the potential impact of a gradual yuan depreciation as the country’s leaders weigh their options in a trade spat with U.S. Implied opening from forwards suggests onshore spot will start trading around 64.9037 today.
The Mumbai-based airline has ruled out bidding for Air India, The Financial Times reported.
"Considering the terms of the offer in the information memorandum and based on our review, we are not participating in the process, FT reported citing CEO Amit Agarwal.
Ventura on Raymond
Credit Suisse on Hindalco
IIFL on Torrent Pharma
Deutsche Bank on India Real Estate
IDFC Securities on IPCA Labs
IDFC Securities on Axis Bank
Macquarie on Axis Bank
Edelweiss on Metals
CLSA on Future Lifestyle
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ICICI Bank
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#BQOpinion | Shikha Sharma at Axis Bank: A stormy entry & a stormy exit, by @dugalira.https://t.co/H7g0c6nQE2 pic.twitter.com/46ukKPpdRz
— BloombergQuint (@BloombergQuint) April 9, 2018
President Trump hints at deal on Chinese trade as President Xi Jinping readies response.https://t.co/8KqULYC2aL pic.twitter.com/vIdc00hY4Q
— BloombergQuint (@BloombergQuint) April 10, 2018
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