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Shares of the Anil Ambani-led company rose as much as 3.8 percent to Rs 472.20 after it won arbitration award against the Goa government.
Reliance Infra will get Rs 292 crore from the Goa government by April 2018. The company's claim was against prolonged non-payment by the Goa government towards supply of electricity from its 48-megawatt Goa power plant.
India's largest mortgage lender Housing Development Finance Corporation Ltd. is set to sell shares to institutional investors to raise about Rs 1,900 crore as part of its Rs 13,000-crore plan to mop up funds to invest in its banking and other subsidiaries.
The housing finance company will launch a qualified institutional placement this week, two people privy to the proposed transaction told BloombergQuint on condition of anonymity. The demand and initial feedback from large marquee investors is quite strong, one of them said.
Shares of HDFC were trading 1 percent higher at Rs 1,844.
Buyers and sellers were not immediately known
Source: Bloomberg
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the adhesive maker were trading 0.7 percent higher at Rs 903 after the board of directors announced share buyback offer of 50 lakh equity shares at Rs 1,000 each amounting to Rs 500 crore.
Shares of the Mumbai-based agricultural commodities importer and exporter rose as much as 2.59 percent to Rs 205.30 after it submitted expression of interest to acquire debt ridden Ruchi Soya Industries.
Shares of the Bangalore-based drug maker rose as much as 2.8 percent to Rs 712.50 after the company launched Rantidine OTC tablets, it said in a press release.
Ranitidine tablet is the generic form of the popular brand Zantac and is used to treat peptic ulcers of stomach and intestines.
The drug has market of $200 million in U.S. according to IRI data and will be manufactured from its 50:50 joint venture facility with Vivimed Labs in Chennai.
Shares of the Chennai-based two-wheeler maker rose as much as 1.7 percent to Rs 678.20 ahead of its meeting of its board members with fund managers on March 2.
Shares of the Pune-based optical fibre communications equipment maker rose as much as 10.22 percent to Rs 378.75 after it secured Rs 3,500 crore advance purchase order to design, build and manage Indian Navy’s communications network.
Shares of Aster DM Healthcare got listed at Rs 182, at a discount of 4.2 percent, against its issue price of Rs 190.
The stock fell as much as 7.36 percent to Rs 176.45.
Aster DM Healthcare Ltd.’s Rs 980-crore initial public offering was subscribed 1.3 times on the third and final day of bidding so far.
Shares of the state-run lender fell as much as 12.5 percent to Rs 92.50 after the CBI registered a case of fraud against a loan provided by the bank to Simbhaoli Sugars.
Shares of Aster DM settled at Rs 182/share on BSE versus its issue price of Rs 190/share in pre-open trade.
Shares of the Hyderabad-based drug maker fell as much as 4.11 percent to Rs 2,080 after the U.S. drug regulator issued establishment inspection report (EIR) for its formulations facility in Srikakulam, Andhra Pradesh.
The company, without mentioning the contents of the EIR, said the USFDA has maintained OAI (Official Action Indicated) status at its API manufacturing plant in Srikakulam.
Shares of the Hapur-based sugar maker fell as much as 20 percent to Rs 13.50 after the Central Bureau of Investigation registered FIR against Simbhaoli Sugar and its top management for causing loss of Rs 109 crore to government-owned Oriental Bank of Commerce.
Buyers and sellers were not immediately known
Source: Bloomberg
Here's a lineup of major corporate meetings happening this week.https://t.co/kpLY0OGUF9 pic.twitter.com/8bQLGVRcLG
— BloombergQuint (@BloombergQuint) February 26, 2018
In focus this week is the GDP data which is likely to show that Indian economy grew at 6.9 percent in October-December, at a pace faster than the previous quarter. Also, all eyes will be on new U.S. Fed chairman Jerome Powell who has two appearances this week. There is a growing view that the new Fed chief may stick to the path of gradual rate increases as was set out by his predecessor Janet Yellen. On the home front, higher inflation may lead RBI to hike rates which is keeping bond traders on the edge.
Benchmark yields fell 8 basis points on Friday, but traders don't expect further rally from here. Yield on the 10-year note may stay in a range of 7.64 percent-7.74 percent.
In the currency market, rupee's implied opening from forwards suggest a level of 64.85 a dollar. Local equities are trading strong that may help support the unit. A range of 64.60-65 a dollar is expected in the session.
HSBC on ICICI Lombard
CLSA on Supreme Industries
Nomura on Sun Pharma
Jefferies on Sun Pharma
IDFC Securities United Spirits
IDFC Securities on Redington India
IDFC Securities on United Breweries
Jubilant Lifesciences
Shiva Texyarn
Goldman Sachs says stocks may plunge 25% if 10-year yield hits 4.5%.https://t.co/yPUm7PEQwm pic.twitter.com/Lc9USzmFwT
— BloombergQuint (@BloombergQuint) February 26, 2018
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