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Shares of the Mumbai-based cement maker fell as much as 3.7 percent to Rs 94.50 after UltraTech board agreed to consider Binani Industries' request to issue the comfort letter confirming to provide Rs 7,270 crore, being the amount, it offered the creditors’ panel in terms of resolution plan submitted to buy Binani Cement.
Japanese brokerage Nomura remains cautious on the Indian information technology sector outlook, even as the NSE Nifty IT index has managed to outperform peers so far this year. This is mainly because it expects the sector to remain subdued in the wake of looming uncertainty due to U.S. President Donald Trump's stringent visa norms, and increased competition from multinational companies and new players.
Bandhan Bank's Rs 4,473 crore IPO was fully subscribed on the last day of subscription as of 11:00 a.m.
Source: Company's PR
Shares of the Anil Ambani-led company fell 2.35 percent to Rs 22.90 after it moved top court seeking its directive for early hearing of pleas to lift stay on sale of assets.
Meanwhile, a 3-judge Supreme Court panel headed by Chief Justice Dipak Misra says Reliance Communications’ plea will be listed for hearing on Thursday.
Shares of the TV news channel operator’s fell as much 7.7 percent, the most in nearly six months, to Rs 482.
The company halted its plan to transfer some of its radio channels to Vibgyor Broadcast Pvt Ltd. and rather planned to sell three radio stations of Ishq 104.8 FM to Entertainment Network India Ltd. (ENIL).
Trading volume was 3.9 times its 30-day average. The stock rose 13 percent so far this year, compared to 2.6 percent decline in Sensex.
Shares of the Chennai-based builder of water and sewage treatment plants rose as much as 3.14 percent to Rs 519 after Porinju Veliyath's Equity Intelligence bought 0.35 percent stake or about 1.9 lakh shares in VA Tech Wabag.
Shares of HEG rose as much as 11.6 percent to record high of Rs 3,515 and Graphite India surged 5.8 percent to Rs 820 after Vanguard Group bought stake in both the companies.
Shares of Indian Oil and Bharat Petroleum fell as much as 4.7 percent and 4.1 percent each respectively as both the companies may buy 26 percent stake each in gas utility GAIL (India) Ltd., paying the government over Rs 20,000 crore each to become integrated energy firms, news agency Press Trust of India reported.
The report added that following Finance Minister Arun Jaitley's February 2017 Budget announcement of creating integrated oil majors, IOC and BPCL had submitted separate proposals to buy the government's 54.89 percent stake in India's biggest gas marketing and transportation firm.
Shares of the Chennai-based cement maker rose as much as 3.3 percent to Rs 765 after CLSA upgraded the stock to 'buy' from 'sell' and raised its target price to Rs 700.
CLSA in a note said:
Shares of the Agra-based road construction company rose as much as 4 percent to Rs 160.10 after it emerged as the lowest bidder for and NHAI project for four laning of 45 km section between Aligarh-Kanpur.
The project will be executed on Hybrid Annuity Mode (HAM) for a bid project cost (BPC) of Rs 1,197.0 crores, having a construction period of two years and operation period of 15 years.
Shares of the Pune-based electrical power equipment maker rose as much as 2.16 percent to Rs 1,180 after it won an order worth Rs 503 crore for co-generation plants In Haryana and Punjab.
Shares of the Bangalore-based infrastructure company rose as much as 2.8 percent to Rs 18.10 after IDBI Capital initiated coverage on the stock with a 'buy' for target price of Rs 32, implying a potential upside of 78 percent from its Friday's closing price.
The brokerage in a note said:
India rupee is likely to open weak as the country’s current account deficit widened last quarter. The current account gap was $13 billion in October-December quarter or 2 percent of GDP.
That's wider than the previous quarter’s $7.21 billion deficit. Implied opening from forwards suggest spot may start trading around 65.12.
Goldman sees the rising trade deficit more as a risk than an immediate concern to India’s external account. It has raised its FY18 current account deficit forecast to 1.9 percent of GDP from 1.8 percent earlier.
Here's a quick look at corporate insider trades reported last Friday.https://t.co/AdRTekNv8J pic.twitter.com/yYk6kvYjAT
— BloombergQuint (@BloombergQuint) March 19, 2018
IDBI Capital on GMR Infrastructure
CLSA on Ramco Cements
Deutsche Bank on India Consumer
JPMorgan on Motherson Sumi
Morgan Stanley on Power Companies
Jefferies on Telecom
Nomura on Infosys Management Meet
Nomura on Wipro Management Meet
Sandhar Technologies IPO Opens Today: Here’s all you need to knowhttps://t.co/ikRur7k0EV pic.twitter.com/jPfp0HxFe2
— BloombergQuint (@BloombergQuint) March 19, 2018
Gateway Distriparks
Jaypee Infratech
Teamlease Services
Graphite India
HEG
Mastek
Capital First
Eris Lifesciences
Congress is the voice of a nation, says Party President Rahul Gandhi. #CongressPlenarySessionhttps://t.co/UKbyWSNJrS pic.twitter.com/EaVQJuEYd4
— BloombergQuint (@BloombergQuint) March 18, 2018
The world economy risks turning too hot to handle.https://t.co/kwp8ILuNf9 pic.twitter.com/E1iGwbEAgz
— BloombergQuint (@BloombergQuint) March 18, 2018
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