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Shares of the state-run oil refiner rose 0.4 percent to Rs 148.80 after its board approved share buyback proposal.
ONGC will buy back shares for up to Rs 4,022 crore representing 2.34 percent stake in the company at Rs 159 per share, the company said in an exchange filing.
Government likely to garner Rs 2,714 crore from the share buyback.
Shares of the Mumbai-based company rose as much as 4.3 percent to Rs 13.60 after it emerged as the lowest bidder for dredging contract at Paradip Port.
Bid is for three-year maintenance of dredging at Paradip Port, Mercator said in an exchange filing.
Shares of the cargo services provider erased gains and fell as much as 1.87 percent to Rs 656 after its board approved bonus issue of one share of every four shares held.
Shares of the Delhi-based power trading platform for physical delivery of electricity rose as much as 2.98 percent to Rs 171.25.
Indian Energy Exchange's board approved buyback of up to 37.29 lakh shares or 1.23 percent equity shares at Rs 185 per share. The total size of buy back is Rs 69 crore, the company said in an exchange notification.
Shares of the Mumbai-based housing finance company held on to gains and rose 3.11 percent to Rs 866.
Indiabulls Housing Company is planning to raise Rs 275 crore via six-month commercial paper at 8.6 percent, Bloomberg reported citing an unidentified person familiar with the matter.
Source: Supplementary Demand For Grants
Brazil, Indonesia Expected to Lead Emerging-Market Comeback in 2019
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Indian equity benchmarks extended decline dragged by HDFC twins, Reliance Industries and ICICI Bank.
The S&P BSE Sensex fell 0.65 percent or 238 points to 36,246.51 and the NSE Nifty 50 Index dropped 0.66 percent or 73 points to 10,895.
The overall breadth was neutral as 966 shares were advancing while 997 were declining on the BSE.
We should see more downgrades for global growth rate in coming quarters, Neelkanth Mishra, India equity strategist and managing director at Credit Suisse told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the Delhi-based packaging company rose as much as 10 percent, the most since July 24, to Rs 239 after it launched sterilisable conduction sealing film.
This film is mainly used in packaging of dairy and bakery products, Cosmo Films said in a press release.
Shares of the Delhi-based flexible packaging company rose as much as 2.15 percent to Rs 280 after it launched three packaging foil solutions for pharma companies.
Shares of the Vadodara-based drugmaker rose as much as 3.84 percent, the most since Nov. 30, to Rs to Rs 621.35.
The company has received Form 483 for its Panelav facility with zero observations from the U.S. FDA, Alembic Pharma said in an exchange notification.
Shares of Indian aluminium manufacturers fell as the Trump administration is ready to remove sanctions on the world's second largest aluminium company— United Co. Rusal after its owner Russian billionaire Oleg Deripaska reached an agreement to significantly reduce his ownership stake, Bloomberg reported.
Shares of the Delhi-based renewable energy project developer rose as much as 18.91 percent, the most since Sept. 21, to Rs 41.50 after it won Rs 615 crore EPC contract from water resources department of Rajasthan.
Buyers and sellers were not immediately known
Source: Bloomberg
Rupee's Santa Rally Heralds a Brighter 2019
Morgan Stanley on Biocon
SBICap on Gujarat Ambuja Exports
Axis Capital on Take Solutions
HDFC Securities on Coal India
(As reported on Dec. 19)
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