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Buyers and sellers were not known immediately.
Source: Bloomberg.
The Indian rupee slid further from the morning lows. The currency declined by 20 paise to at 64.91 against U.S. dollar as of 2:50 p.m.
Buyers and sellers were not known immediately.
Source: Bloomberg.
Will Sensex, Nifty snap six-day losing streak today?https://t.co/FkO4cyw4M7
— BloombergQuint (@BloombergQuint) March 8, 2018
Shares of the construction company swung between gains and losses and traded at Rs 266.90. The company won three road projects in Karnataka worth Rs.2,991.70 crore.
Ashoka Buildcon trades at 90 times its earnings per share for the coming year. The stock is 21 percent below the Bloomberg consensus one-year price target.
Shares of the power transmitter snapped two-day decline and rose as much as 3.3 percent to Rs 418.70. The company won orders worth Rs. 1,378 crore, according to its stock exchange notification.
KEC International trades at 34.5 times its trailing 12-month earnings per share and 25 times its estimates for the coming year, Bloomberg data showed. The stock returned 151 percent in the last 12 months.
Mehul Choksi wrote to the Enforcement Directorate on Feb. 26 that he has been communicating with passport authorities to have the passport restored. BloombergQuint obtained a copy of the letter he sent in response to ED’s summons. (More details here.)
Uniphos Enterprises
Fertilisers & Chemicals Travancore
PTC India
NCLT Kolkata directs Binani Cement's Resolution Professional to file a reply on UltraTech's application.
Buyers and sellers were not known immediately.
Source: Bloomberg.
Key highlights from the conversation:
Shares of the pharmaceutical company parred early losses and rose as much as 0.8 percent to Rs 768.
The drugmaker today entered into an agreement with CSIR-National Chemical Laboratory, Pune and Department of Science and Technology, Delhi for researching a continuous purification process development of a biosimilar monoclonal antibody therapeutic, according to its stock exchange notification.
The stock trades at 19.3 times its estimated forward earnings per share and 20.6 times for its two-year historical average, Bloomberg data showed.
Shares of the Gurugram-based auto parts maker rose as much as 5.3 percent to Rs 23.8. The stock rose after falling for five consecutive sessions.
The U.K.-based Liberty House says it is a preferred bidder for Amtek Auto Ltd., according to Bloomberg. Amtek Auto is among the distressed companies that the Indian government has put for sale.
The stock has fallen more than 20 percent this year.
Buyers and sellers were not known immediately.
Source: Bloomberg.
Buyers and sellers were not known immediately
Source: Bloomberg
Shares of the Noida-based industrial conglomerate firm fell as much as 6.8 percent to Rs 13.75, dropping for the sixth straight day.
The coal ministry ordered for the termination of a development pact for a coal mine in Madhya Pradesh for violating contract terms by Jaypee Cement, according to Bloomberg.
The stock fell almost 47 percent so far this year compared to the benchmark index, Sensex’s 2.7 percent decline.
Shares of the LPG distributor halted six-day decline and rose as much as 9.1 percent to Rs 249.20.
Homegrown brokerage Motilal Oswal expects its shares to reach Rs 342 in the next 12 months in best case scenario, according to its research report, the price target implies a potential upside of 50 percent form the last regular trade.
This is the highest price target that Aegis Logistics has received so far, among the analysts tracked by Bloomberg.
Key highlights from the research report:
Key highlights from the conversation:
Key highlights from the conversation:
Shares of the debt-ridden steelmaker rose as much as 20 percent to Rs 48.70 after Tata steel emerged as its highest bidder
The steelmaker is currently in discussions with the resolution professional and advisors to the Committee of Creditors on the resolution plan it had submitted, it said in an exchange filing today.
Tata Steel is currently in discussions with the resolution professional and advisors to the Committee of Creditors on the resolution plan it had submitted, according to its stock exchange notification. (more details here).
Bhushan Steel’s trading volume was 7.3 times its 20-day average. The stock declined 14 percent since the beginning of the year.
Here's a quick look at corporate insider trades reported on Wednesday.https://t.co/hCG0A3pZHA pic.twitter.com/tpiVILc0qg
— BloombergQuint (@BloombergQuint) March 8, 2018
Traders got some relief yesterday with sovereign bonds gaining by the most in nearly two months as buying interest returned. Gains were bolstered after the government made a pitch for a ratings upgrade to Fitch Ratings.
The benchmark 10-year yield fell 10 basis points to 7.68 percent. Sustainability of bond gains is the key question as has been the case with such recent rallies, Edelweiss Securities said in a note late Wednesday
“Bonds are still very much susceptible to global and domestic triggers, and so the rally needs to be backed by continued position-building momentum via the large investors,” Edelweiss said. “The market's focus will turn today to global factors like U.S. yields and crude oil prices.”
Concern on both these fronts has helped drive yield gains for seven straight months.
The rupee gained 0.1 percent Wednesday to 64.89 against the dollar for the fourth day of losses. Forward imply the currency will start trading around 64.94.
Bandhan Bank Ltd. has set the price range for its initial public offering in India, which could raise as much as Rs 4,473 crore, according to terms for the deal obtained by Bloomberg.
According to the terms, company aims to finalize basis of allotment around March 22, start trading around March 27. The proceeds will be used to augment bank’s Tier 1 capital base.
JPMorgan, Kotak Mahindra Capital, Axis Capital, Goldman Sachs, JM Financial are book-running lead managers
Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.
CCI imposes penalties on 3 Indian airlines for concerted action in fixing and revising fuel surcharge on cargo transport.https://t.co/JR3O2BgnNU pic.twitter.com/kJxA54Tl0X
— BloombergQuint (@BloombergQuint) March 7, 2018
Liberty House highest bidder for Amtek Auto.https://t.co/1NM01M6FJG pic.twitter.com/1r5nYOr5Uv
— BloombergQuint (@BloombergQuint) March 7, 2018
‘Rigged’ system blocks use of lower-cost drugs, says FDA Chief.https://t.co/Md5stJHSTj pic.twitter.com/kvT4Y7550q
— BloombergQuint (@BloombergQuint) March 7, 2018
SEBI Chief raises money laundering concerns over private equity, venture capital funds.https://t.co/NMmiBsgmyR pic.twitter.com/u6dIsjeHWt
— BloombergQuint (@BloombergQuint) March 7, 2018
India sugar exports may climb to four-year high on record output.https://t.co/kpe6qCao9m pic.twitter.com/Z8eUry8u6j
— BloombergQuint (@BloombergQuint) March 7, 2018
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