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Shares of the Mumbai-based car and commercial vehicle maker rose as much as 3 percent to Rs 230.50 after its domestic sales rose 20 percent to 64,250 units in September, Tata motors said in an exchange filing.
Key sales highlights:
Shares of the Mumbai-based airline operator fell for a tenth day in row, its longest losing streak in over five years, to Rs 162.80.
The stock has been facing selling pressure after the Income Tax Department began inspecting the books of crisis-hit Jet Airways for alleged falsification of accounts and suspicious transactions.
In last the ten trading sessions the stock has slumped 39 percent.
Government Seeks To Take Over IL&FS; Proposes Uday Kotak As Chairman
Yes Bank's Rajat Monga told BloombergQuint that 85 percent of exposure to NBFCs is AA rated or better and there is no connection/dealings between Yes Bank and the family office.
Key highlights of conversation:
Mahindra & Mahindra Ltd.’s farm equipment sales fell 18 percent on a yearly basis in September, after it sold 37,581 units during the period, according to its exchange filing.
Key sales highlights (year on year):
Shares of IL&FS Transportation Network rose as much as 13 percent to Rs 25.50 after the government sought to control of its parent by replacing all board members.
Government has sought for suspension of IL&FS board in NCLT Mumbai today.
Key highlights from NCLT:
Shares of the country's largest IT outsourcing company rose as much as 4.2 percent to record high of Rs 2,275.
With today's surge in stock price, TCS' market capitalisation topped Rs 8.7 lakh crore for the first time, data compiled by Bloomberg showed.
Shares of the Delhi-based agricultural chemicals maker fell as much as 7.2 percent to Rs 377 after a fire broke out at its Keshwana plant in Rajasthan, Dhanuka Agritech said in an exchange filing.
There was no casualty at the plant and expected damage is not yet estimated, the filing added.
Shares of the Uday Kotak-led private sector lender fell as much as 12.2 percent, the most in six years, to Rs 1,002 after the Reserve Bank of India stopped Bandhan Bank from opening new branches without seeking its approval as India’s central bank penalized it for failing to comply with shareholding requirements.
Kotak Mahindra Bank also needs to dilute its promoter's stake to 20 percent by December 2018 and to 15 percent by March 2020 from 30 percent currently. Stringent steps by RBI against Bandhan Bank implies that RBI may not provide more time to Kotak Mahindra Bank, Nomura said in a note.
The Mumbai bench of the National Company Law Tribunal will hear a ministry of corporate affairs case against Infrastructure Leasing & Financial Services (IL&FS) and others today, according to a cause list on its website.
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Shares of the Chennai-based commercial vehicle maker swung after it reported sales figures for the month of September.
Key sales highlights:
Shares of the Gandhinagar-based e-commerce website operator rose 13 percent to Rs 66 as it rebounded after falling over 70 percent on Friday.
The company's management told BloombergQuint that its fundamentals remain strong and some WhatsApp group carrying erroneous messages have caused panic.
Key highlights of the conversation:
Shares of the Mumbai-based road developer rose as much as 9.31 percent to Rs 24.65 after it said in an exchange notification that it made interest payment on a non-convertible debenture.
Shares of the Mumbai-based infrastructure development company was locked in a 20 percent lower circuit at Rs 162.60 after the market regulator directed the National Stock Exchange of India Ltd. to appoint an independent auditor for the forensic audit of J.Kumar Infraprojects, which figured among the 331 “suspected shell companies”.
The auditor will verify misrepresentation, including financials and business activities of the company, as well as look into the role of key management personnel, directors and promoters, according to the Securities and Exchange Board of India’s interim order on its website.
Shares of the country's largest carmaker fell as much as 1.9 percent to Rs 7,206 after its sales declined for third month in a row.
Key sales highlights:
Shares of the country's second largest two-wheeler maker swung between gains and losses after its sales rose 17 percent to 5.02 lakh unites (YoY).
Key sales highlights (YoY):
Shares of the Mumbai-based private sector lender recovered and rose as much as 6.5 percent, the most in over five months, to Rs 195.55 after it disclosed NPA numbers for the September quarter.
Gross non-performing assets of the bank stood at 1.35 percent as a percentage of total advances compared with 1.82 percent in the same quarter last years, Yes Bank said in an exchange filing.
In the aftermath of Friday's 70 percent plunge in stock price, Infibeam's management spoke to BloombergQuint and said the company's fundamentals remain strong and some WhatsApp group carrying erroneous messages have caused panic.
Key highlights of the conversation:
Government bonds may find support after the government reduced its borrowing for the second time in the current fiscal year. However, the surging oil prices could temper the good cheer.
Borrowing is just one part of the picture. There are genuine concerns on fiscal health right from GST collections, direct taxes, divestment targets etc. Kotak Mahindra Bank is calling for yield to stay in a range of 7.75-8.25 percent in the rest of the year.
In the currency market, implied opening from forwards suggest the pair may open at 72.70 a dollar. With high oil prices, there is little in terms of support for the rupee and it may trade in a range of 72.50-73 a dollar in the day.
Macquarie on ITC
JPMorgan on Bandhan Bank
PhillipCapital on Engineers India
UBS
JPMorgan
(As reported on Sept. 28)
Rane Engine Valve
Who’s Meeting Whom
The probe will include:
All You Need To Know: Dinesh Engineers IPO
Here are some key events coming up this week:
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