Employees work at computers at a brokerage firm in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
8 years ago
Jul 11, 2018
The mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap index fell 0.7 percent and the S&P BSE SmallCap index declined 0.3 percent.
IDBI Bank: The Mumbai-based public-sector lender rose as much as 10 percent to Rs 58.65 as Life Insurance Corp of India’s investment in IDBI Bank may trigger an open offer for the state-run bank, Bloomberg reported.
Shilpa Medicare: The Raichur-based active pharmaceutical ingredient maker rose as much as 14 percent to Rs 434 after U.S. FDA closed inspection of its plants.
Shalimar Paints: The Kolkata-based paint maker rose as much as 10.76 percent to Rs 142 after its board approved raising Rs 240 crore via rights issue.
L&T Infotech: The Mumbai-based IT company rose as much as 6.87 percent to record high of Rs 1,838 on heavy volumes. Trading volume was 10.2 times its 20-day average.
Shares of the commodity bourse operator pared gains after rising as much as 6 percent after a technical glitch halted trading at the bourse. The trading resumed at 12:56 PM local time.
Meanwhile, a report suggested that MCX is in talks with the National Stock Exchange to combine their operations.
The two exchanges have appointed a global investment banks to help in the discussions, The Economic Times reported citing two unknown people.
National Stock Exchange has appointed Morgan Stanley while JPMorgan is advising MCX, the report added.
Adani Power: The Ahmedabad-based power producer rose as much as 14.7 percent, the most in over four years, to Rs 19.80. Trading volume was 9.2 times its 20-day average.
Akzo Nobel: the Gurugram-based paint maker fell as much as 0.4 percent to Rs 1,865. Trading volume was 144.6 times its 20-day average.
Atul: The Gujarat-based chemical maker rose as much as 4.4 percent to Rs 2,848. trading volume was 20.7 times its 20-day average.
Larsen & Toubro Infotech: The Mumbai-based IT company rose as much as 7 percent to Rs 1,838. Trading volume was 11.7 times its 20-day average.
Shares of the Chennai-based IT company rose as much as 6 percent to Rs 380 after it won an order for Ramco Aviation Suite from Hong Kong Aircraft Engineering Company (HAECO).
Ramco Systems will provide cloud management service to HAECO, the company said in an exchange filing.
Shares of the Mumbai-based government lender rose as much as 10 percent to Rs 58.65, its highest level since June 25.
Life Insurance Corp of India’s investment in IDBI Bank may trigger an open offer for the state-run bank, Bloomberg reported citing an unidentified government official.
Shares of the Delhi-based mortgage lender rose as much as 6.37 percent, the most in over two weeks, to Rs 1,269 as its promoters Punjab National Bank and a Carlyle Group company look to sell their stake in the company.
The companies plan to sell a minimum of 51 percent stake in the housing finance company, according to an exchange filing. PNB and Quality Investment Holdings hold 32.8 percent and 32.3 percent, respectively, in the mortgage and construction lender.
Shares of the Raichur-based maker and exporter of active pharmaceutical ingredients rose as much as 12.7 percent, the most in over 21 months, to Rs 434 after the U.S. drug regulator closed its inspection of manufacturing plants at Raichur.
The company received Establishment Inspection Report (EIR) from U.S. FDA for API manufacturing facilities at Raichur for inspection carried between Jan. 16-19, Shilpa Medicare said in an exchange notification.
Earnings season gets going with JPMorgan Chase & Co. and Citigroup Inc. among the largest companies due to give results, as well as India’s Infosys Ltd.
The most noteworthy U.S. data may be the June inflation report on Thursday, which consensus expects will show both headline and core price growth picking up. There’s another deluge of Treasury debt sales too, with a total $156 billion of notes and bills offered.
Chinese trade data due at the end of the week will probably show slightly slower export growth, after early indicators pointed to softer overseas demand and weaker export orders, Bloomberg Economics said.