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Shares of the Noida-based industrial conglomerate slumped as much as 9.85 percent, the most since August 29, to Rs 21.05 after the Supreme Court asked it to deposit Rs 2,000 crore.
The top court also allowed insolvency resolution professional Anuj Jain, appointed by the National Company Law Tribunal, to take over the management of Jaypee Infratech Ltd.
#BQSpotted by @dhanuka_saloni | Liberty Shoes hits upper circuit.https://t.co/REoFKaz4XY pic.twitter.com/F1F6GsULdP
— BloombergQuint (@BloombergQuint) September 11, 2017
Shares of the ship builder rose as much as 2.84, the most since September 8, to Rs 564.50 after domestic brokerage firm ICICI Direct put a 'Buy' rating on the Kerala-based company with a target price of Rs 725.
This implied a potential upside of 30 percent over Friday's closing price.
ICICI Direct says:
Indian equity benchmarks held on to their best gains in over a week led by shares of capital goods and energy producers.
Shares of the auto component maker jumped as much as 10.5 percent, the most in over 10 months, to Rs 575 after it reported June quarter earnings.
Highlights of Q1 earnings:
Shares of the Delhi-based power plant equipment maker jumped as much as 2.6 percent, the most since August 16, to Rs 131 after it fixed September 30 as the record date for issuance of bonus shares.
Shareholders of BHEL will get one bonus share for every two shares.
The matchmaking and marriage services company's Rs 501 crore Initial Public Offer (IPO) was subscribed 2 percent as of 10:45 a.m. on first day of bidding.
Shares of the drugmaker rose as much as 14.83 percent, the most since September 8, to Rs 254 ahead of its board meeting on Wednesday to discuss fund raising and demerger of real estate business.
Shares of the India's second biggest IT company advanced as much as 0.89 percent, the most since September 1, to Rs 892.2 after it completed acquisition of the London-based product design and customer experience (CX) innovator.
"The addition of Brilliant Basics extends Infosys’ digital design services network to include Europe and the Middle East, and enhances the company’s expertise across financial services, retail and telco sectors," Infosys said in a press release.
The Indian rupee is seen opening weaker, in line with its Asian peers, after the U.S. dollar rebounded from its lowest in more than two years as Hurricane Irma’s force waned and as North Korea didn’t launch a missile over the weekend.
Gains in the rupee could remain capped also because Friday's data showed India's forex reserves rose $3.6 billion to about $398 billion as of September 1, suggesting the central bank has been intervening in the currency market.
Bonds, on the other hand, could move in a narrow range as traders await the inflation data, which is due on Tuesday for more cues.
Morgan Stanley on CG Power and Industrial Solutions
HSBC on Dr. Reddy’s Labs
Edelweiss on Apar Industries
IDFC Securities on Suzlon
HSBC on Phoenix Mills
Credit Suisse on HDFC Bank
For a complete list of stocks to watch, click here
https://t.co/mzERvhDu8z IPO: Here’s all you need to knowhttps://t.co/vrP8L5FBzQ pic.twitter.com/4syLy6qcrA
— BloombergQuint (@BloombergQuint) September 10, 2017
China factory prices give an unexpected lift to global inflation.https://t.co/74q0PTx34S pic.twitter.com/KW40ag5dHd
— BloombergQuint (@BloombergQuint) September 11, 2017
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