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Shares of the hydropower generation company advanced as much as 12.4 percent, extending three-day gains, on volumes 15.2 times its three-month full-day average.
The company will pay Rs 1.7 per share as interim dividend for this fiscal. The stock currently has indicated yield of 7.65 percent and also was the second best among S&P BSE 500 index, according to Bloomberg data.
Shares of the software solutions firm gained 1.7 percent after reporting its third quarter earnings. The company reported a net profit of Rs 94.16 crore for quarter-ended December, which was slightly lower than the estimate of Rs 92.70 crore by analysts polled by Bloomberg.
Its clocked net sales of Rs 917 crore for the three-month period, which was also lower than estimates by around Rs 100 crore.
The stock had risen as much as 10.5 percent intraday. It has gained three out of the four days so far this week.
Shares of the hair oil maker gained as much as 2.3 percent after its third quarter earnings met street expectations.
The company, which is part of the Shishir Bajaj group, reported a net profit of Rs 57.8 crore for the three-month period ending December. This was in line with Rs 57.5 crore estimated by analysts polled by Bloomberg.
However, it managed sales of around Rs 187 crore for the quarter, which was below the estimated figure of Rs 198 crore.
Shares of Indian Hotels rose as much as 6.1 percent to Rs 103.70 post the announcement. The stock has lost 16 percent over a one-year period.
What do the Theory of Evolution and the Bayes Theorem have in common with stocks? Read @rndx1 in #BQOpinion. https://t.co/eKkDoSwQfi pic.twitter.com/apCI0lfeSS
— BloombergQuint (@BloombergQuint) January 12, 2017
TOP NEWS
— BloombergQuint (@BloombergQuint) January 12, 2017
UBI for India? https://t.co/hrR05aHvF3
Retail inflation at 25-month low? https://t.co/9Yhg2CvNc0 pic.twitter.com/QRcLy1NFUU
Prabhudas Lilladher expects the pre-budget rally to take the Nifty to 8,600, reports @thecrazybawa. https://t.co/C0gWuqPmNm pic.twitter.com/PVfWlRThjr
— BloombergQuint (@BloombergQuint) January 12, 2017
Shares of State-run NTPC Ltd. gained as much as 3.8 percent to Rs 170.75 after the company signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant.
The Memorandum of Understanding (MoU) is to takeover four operational units of 250 MW capacity each and two other under-construction units of 660 MW capacity each at Chhabara Thermal Power Plant.
#BQSpotted by @soumeet_sarkar | BPL gains on high volumes. https://t.co/QWAGVbtDHG pic.twitter.com/dpWf993oqh
— BloombergQuint (@BloombergQuint) January 12, 2017
Indian pharma stocks fall as Trump’s comments rekindle pricing worries, reports @Aastha2206.https://t.co/qN3qWfBUc4 pic.twitter.com/75CUrSBFMi
— BloombergQuint (@BloombergQuint) January 12, 2017
Shares of shoe makers have gained for a third straight session anticipating sops in the upcoming Union Budget. According to a PTI report, the government is expected to announce an incentive package for labour intensive leather sector in the forthcoming Budget with a view to give a boost to the segment and generate jobs.
Movers And Shakers: Biocon, NTPC, Power Grid Corp And More
TCS is expected to report lacklustre earnings in the October to December quarter, reports @AgamVakil. https://t.co/9uBBknKnTM pic.twitter.com/ZlcfxDKYyh
— BloombergQuint (@BloombergQuint) January 12, 2017
The rupee recovered by 22 paise to 68.10 against the U.S. dollar in early trade today on fresh selling of the American currency by exporters. Besides, the dollar's weakness against some currencies overseas and early gains in the domestic equity market supported the rupee, dealers said.
Yesterday, the rupee had lost 14 paise to close at 68.32 per dollar in the face of a bullish greenback overseas.
However, the gains were capped as stocks of pharmaceutical companies sold off after President-elect Trump said he would force the industry to bid for government business, a position that aligns him with congressional Democrats and against the powerful drug-manufacturing lobby.
A gauge a country’s top 10 pharmaceutical companies slumped as much as 2.2 percent, the most since December 26.
#BQMoney | Dollar drops for the second day as Trump fails to divulge policy details, reports @nupuracharya. https://t.co/iwej2YnAK5 pic.twitter.com/mGiGyyYu7v
— BloombergQuint (@BloombergQuint) January 12, 2017
Good Morning!
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, gained 0.3 percent to 8,425.
Asian stocks traded mixed this morning, as Japanese equities retreated while yen strengthened after Donald Trump’s first press conference since his election victory gave scant detail on policy.
The decline was led by drugmakers and exporters after Trump attacked the pharmaceutical industry for high drug prices and for manufacturing overseas, saying he will create new procedures for bidding on drugs.
While Trump addressed issues from Russian hacking allegation to drug prices and the fate of his family business, there was a dearth of details on the timing and scope of planned policies from infrastructure spending to trade pacts that will determine the direction for financial markets in 2017.
While Japanese shares slumped, Asia’s regional equity index rose for a fourth day, poised for the highest closing level since October. Oil was little changed following the biggest rally in more than a month.
Gold rose 0.3 percent, a fourth day of gains to trade near the highest level since November.
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