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Indian Oil's board approved share buyback of up to 297.7 million shares at Rs 149 per share.
Shares of the Mumbai-based private lender fell as much as 7.66 percent, the most since Nov. 29, to Rs 172.30.
Yes Bank Ltd.'s board has chosen a new non-executive, part-time chairman, the lender said in a filing to the exchanges, without mentioning the name.
The bank will now seek requisite approvals from the Reserve Bank of India, it said in a statement.
The board members at today's meet included two newly independent directors TS Vijayan and Uttam Agarwal. This leaves only one vacancy on the board after three members left the board over the last month citing governance issues.
As for a replacement for Chief Executive Officer Rana Kapoor, the lender has shortlisted names and will submit the final recommendation to the central bank after the next board meeting on Jan. 9, 2019.
Buyers and sellers were not immediately known
Source: Bloomberg
State-run bank chiefs demanded an easing in norms related to bad loan recognition and the so-called prompt corrective action framework in their first meeting with the new Reserve Bank of India Governor Shaktikanta Das, Bloomberg reported citing people familiar with the matter.
Shares of the Chandigarh-based steel wheel rim maker recovered from intraday low levels and rose as much as 1 percent to Rs 992.25 after it received order for 90,000 truck wheels from truck and trailer aftermarket in U.S.
The company is likely to generate additional revenue of $4 million from this order, Steel Strips Wheels said in an exchange filing.
India's GDP growth will slow to just above 7 percent for fiscal 2019 and 2020. This result is below an estimated 7.4 percent out-turn in the fiscal year ending March 2018 and below the pick-up in growth that we envisaged a few months ago, Michael Taylor, Chief Credit Officer - Asia Pacific at Moody's Investors Service said.
In a downside scenario, a sharper slowdown in NBFI (non-bank financial institutions) credit supply would significantly tighten overall credit availability, drive up borrowing costs and reduce economic growth by around half a percentage point over a few years, Joy Rankothge, Senior Analyst & VP at Moody's Investors Service said.
Shares of the Bengaluru-based active pharmaceutical ingredients maker recovered from low levels and rose as much as 4.15 percent to Rs 74 after its arm — SeQuent Research received Establishment Inspection Report (EIR) from U.S. FDA for analytical lab at Mangalore.
Indian equity benchmarks held on to gains led by rate sensitive shares after inflation cooled down to lowest level in 17 months in November.
The S&P BSE Sensex rose 0.6 percent or 215 points to 35,994 and the NSE Nifty 50 Index climbed 0.62 percent or 67 points to 10,805.
All the 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Realty Index's 1.8 percent gain.
The overall breadth was positive as 1,542 shares were advancing while 775 were declining on the BSE.
Shares of the Delhi-based news broadcast company recovered from low levels and rose as much as 3.9 percent, the most since Dec. 11, to Rs 38.65.
NDTV in an exchange filing said that the final hearing in assessment year 2009-10 tax case is on May 14 and court has issued an absolute stay on tax department's demand.
Shares of the Mumbai-based automobile maker rose as much as 2.5 percent to Rs 168 after the company said it plans to raise passenger-vehicle prices across models by as much as Rs 40,000 to offset the impact of higher input costs and an increase in fuel prices.
The stock was top gainer on the 30-share Sensex.
Nifty's 11,000 strike price call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract rose 11.56 percent to Rs 45.85. Over 7.33 lakh shares were added to the open interest which stood at over 50.86 lakh shares.
Shares of the Coimbatore-based auto parts maker rose as much as 18.38 percent, the most since Feb. 10, to Rs 58.60.
Pricol signed a joint venture agreement with Israel-based mobile resource management company ‘Pointer Telocation’ to provide digital telematic solutions to both OEM and after-market segment players in India and other countries in South East Asia, the company said in a press release.
High power committee has come out with good solution for Mundra Power Project as it has recommend amending the Power Purchase Agreement (PPA), Praveer Sinha, Managing Director & CEO of Tata Power told BloombergQuint in an interview.
Key highlight of the conversation:
Shares of the Mumbai-based construction related professional services provider rose as much as 5.42 percent to Rs 293.60.
The company has initiated the process to foray into financial services business with primary focus in rural India, Soril Infra said in an exchange notification.
The company has started the necessary process of acquiring an existing NBFC, it added.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Kolkata-based private lender rose as much as 7.85 percent, the most since Nov. 2, to Rs 509.
The Reserve Bank of India has allowed the lender to open 40 new branches. The bank was earlier debarred from opening new branches by the central bank. An email statement from the company stated that it has opened five branches and will open additional 35 branches by end of this month.
The stock has advanced 26 percent in the past 12 months compared to 7.7 percent in the S&P BSE Sensex Index.
The country's government bonds are expected to gain today on speculation that the RBI will shift to a neutral policy stance.
This comes after yesterday's slowing inflation figures. November inflation rose 2.33 percent year on year versus an estimated 2.58 percent.
Indranil Pan, economist at IDFC Bank said that fading inflation risks will offer RBI room to provide greater flexibility to adjust rates either way depending on what’s needed.
Yield on 10-year sovereign bonds fell 12 basis points to 7.41 percent on Wednesday, the lowest since April, after Shaktikanta Das was appointed as RBI's governor.
In currency markets, the rupee is likely to track a rise in emerging market peers that gained on some positive developments in the U.S.-China trade talks.
Implied forwards suggest that the rupee may start trading around 71.8882 against the dollar. On Wednesday, the rupee closed 0.23 percent lower at 72.02 per dollar.
Source: Bloomberg
HSBC on Gujarat State Petronet
Morgan Stanley on InterGlobe Aviation
Morgan Stanley on SBI
Macquarie on Ujjivan Financial
CLSA on NTPC
Morgan Stanley on ACC and Ambuja
Jefferies on Dabur
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