Global equity markets were mixed as the ECB kept interest rates unchanged and ahead of former FBI director James Comey’s testimony to a Senate committee. Investors will also keenly watch the outcome of the U.K. election.
Chopra said any unfavourable outcome from these geopolitical events may trigger in correction in local equities. “A correction would not be such a bad thing as it will be give investors entry points,” he told BloombergQuint in a phone conversation.
#BQSpotted by @iYashUpadhyaya | Binny Ltd. stock gained over 16% intra day. pic.twitter.com/rCw8lBxK5t
— BloombergQuint (@BloombergQuint) June 8, 2017
HPCL, BPCL & IOC will start daily revision in petrol & diesel prices from June 16. https://t.co/raYIA1J4Um pic.twitter.com/GGhQYHXsCJ
— BloombergQuint (@BloombergQuint) June 8, 2017
- MRF (+3.5%)
- Apollo Tyres (+2.3%)
- JK Tyre (+1.2%)
- Ceat (+6%)
Shares of the Ahmedabad-based company dropped as much as 16 percent intraday, the most since November of last year. Today’s decline follows an over 2 percent drop in Wednesday’s trade.
The company received a show-cause notice from ONGC pertaining to certain allegations in respect of ongoing contracts, it said in an exchange filing. It has sought various documents from ONGC relating what it called “baseless allegations”.
It said ONGC's response on the same is awaited. “In the process of replying to the show cause notice and all the allegations made there in,” the company said.
The stock was the worst performer on the BSE Energy Index; trading volume jump 3 times its 3-month full-day average
#BQSpotted by @soumeet_sarkar | PVR rose as much as 7%.https://t.co/yxFC95EA9H pic.twitter.com/F1UCQ8VNIh
— BloombergQuint (@BloombergQuint) June 8, 2017
Power distribution company Tata Power Ltd. signed a Distribution Franchisee Agreement (DFA) with Ajmer Vidyut Vitran Nigam Ltd. for a period of 20 years. The agreement has been signed through its subsidiary Tata Power Delhi Distribution Ltd.
TPADL will be responsible for operating and maintaining the distribution network in Ajmer City, which includes division-I and division-II areas. The entry of Tata Power into Ajmer will prove beneficial to both consumers as well as AVVNL, MD and CEO of Tata Power-DDL Praveer Sinha said in a statement.
Shares fell as much as 1.81 percent to Rs 78.55 on the National Stock Exchange.
Shares of the company gained as much as 5.38 percent after it won export and domestic orders worth Rs 37 crore. The orders will be executed majorly from the new facility set up at Chalisgaon in Maharashtra, the company said in a statement.
Read more on the news here
Insurance Regulatory and Development Authority India reaffirmed its original position on the transaction between Max Life and HDFC Life, the company said in a exchange filing.
The regulator had raised concerns about the transaction in its current form back in November. Max India said HDFC Life and Max Life remain committed to merger and are evaluating various options.
#ChartOfTheDay by @jayeshkhilnani | Cadila pips Lupin to become 2nd-most valuable pharma company in India as on June 7. pic.twitter.com/6lmwnMQxtb
— BloombergQuint (@BloombergQuint) June 8, 2017
#BQMarketsNow | Uptrend for Nifty is intact, says Systematix Shares & Stocks’ Birendrakumar Singh.https://t.co/raYIA1J4Um pic.twitter.com/bmNb0UReR3
— BloombergQuint (@BloombergQuint) June 8, 2017
- Indian Prime Minister Narendra Modi and Chinese President Xi may hold talks at Shanghai Cooperation Organization Summit.
- India to hold presidential election on July 17, says Chief Election Commissioner Nasim Zaidi
- Madhya Pradesh government may consider waiving interest on crop loans (PTI)
- India monsoon to cover entire rubber, most coffee growing areas
- India monsoon rainfall 18 percent above normal as of June 7
- Samsung to invest Rs 4,920 crore to expand India plant capacity
- Global funds buy Rs 73.79 crore of local stocks; domestic funds buy Rs 166 crore yesterday: NSE Provisional data
- Indian investors add Rs 10,700 crore to equity funds in May: AMFI
- Electric car market goes zero to two million in five years
Comey recounts uneasy meetings with Trump, demands for loyalty. @margarettalev & @cstrohm reporthttps://t.co/EdhDePZm0x pic.twitter.com/vh6972V3AG
— BloombergQuint (@BloombergQuint) June 8, 2017
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