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About 19.8 lakh shares of the country’s largest telecom operator changed hands through two block deals, Bloomberg data showed. Buyers and sellers were not known immediately.
The shares fell as much as 6.3 percent to Rs 11.20 apiece after the deal. The stock has declined 60 percent in the past 12 months compared with a 7.1 percent gain in the Sensex.
Shares of the Tamil Nadu-based lender pared day’s losses as it traded 1.9 percent down at Rs 205.30. The stock declined close to 3.5 percent intraday.
The bank’s board approved to raise further capital to the tune of Rs 500 crore through QIP route, according to an exchange notification.
The stock traded 11 percent below the Bloomberg consensus one-year target price.
The Nifty may fall to around 11,460 in the next few sessions due to pressure at higher levels, according to Rahul Randeria, an independent market expert.
"Besides, the heavyweight stocks which provided support till now to the indices are losing momentum at current level." However, Randeria did not see any "major" downside in the index for intraday ahead of the weekly expiry.
Due to further rebound, its momentum indicator and oscillator has given positive cross-over, signals probable rebound is on the cards. However downward slopping short-term and medium-term moving averages and bearish trend following indicator were not in favour of the expected bounce back, Reliance Securities said.
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Mindtree
Indian equity benchmarks traded at day’s low.
The S&P BSE Sensex fell 193 points or 0.49 percent to 39,022 and the NSE Nifty 50 fell as much as 0.53 percent to 11,625. The broader market index represented by the NSE Nifty 500 Index fell as much as 0.7 percent.
The market breadth was tilted in favour of sellers. About 1,278 stocks declined and 424 shares advanced on National Stock Exchange.
Aviation watchdog DGCA has conducted safety audits of Air India Express, SpiceJet Ltd., Air India, IndiGo (InterGlobe Aviation Ltd.) and GoAir and it found the implementation of their safety management system “to be deficient”, the government has informed the Rajya Sabha.
Civil Aviation Minister Hardeep Singh Puri Wednesday said the audits also found that the flight crew rostering software was not upgraded and untrained staff were manning check-in counters.
Source: PTI
A day after Yes Bank reported a lower-than expected quarterly profit as bad-loan clean-up continues, Chief Executive Officer Ravneet Gill will speak to BloombergQuint’s Ira Dugal on the way ahead for the Mumbai-based lender.
Watch the full conversation here:
Shares of DB Corp rose as much as 7.8 percent to Rs 184.70 after announcing its June quarter results.
Key Earnings Highlights (Q1, YoY)
Shares of Colgate-Pamolive (India) Ltd. pared losses and rose as much as 1.9 percent to Rs 1,189 after the company announced its June quarter results.
Key Earnings Highlights (Q1, YoY)
Stocks in Asia fell alongside U.S. and European equity futures and the yen hit a two-week high on deepening concerns about a weak earning season and the impact of a trade battle between Japan and South Korea, two of the region’s four largest economies.
Catch all the Global market updates here.
Source: Bloomberg
Indian equity benchmarks traded near day’s low.
The S&P BSE Sensex fell 114 points or 0.29 percent to 39,102 as of 12:06 p.m. and the NSE Nifty 50 fell 0.3 percent to 11,652.45.
Nine out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 2.4 percent fall. On the flipside, the NSE Nifty Financial Service Index was the top sectoral gainer, up 0.33 percent.
CARE Ratings Ltd. has sent its chief executive officer and managing director Rajesh Mokashi on leave till further notice after an anonymous complaint was filed against him at the Securities and Exchange Board of India.
Earlier this month, Moody’s Investors Services’s India unit ICRA Ltd. had put its chief on leave amid a probe into a controversial decision, in the latest sign of trouble in the nation’s credit evaluation history.
Read the full story here.
Shares of Bharat Heavy Electricals Ltd. pared loses and rose as much as 0.62 percent to Rs 64.50.
The company received an order from Bhartiya Rail Bijlee for Bihar project worth Rs 750 crore, according to Bloomberg.
Of the shares traded, 42 percent were at the ask price and 54 percent were at the bid.
Shares of Torrent Pharma fell as much as 6.3 percent, the most in nearly two months, to Rs 1,485.
The U.S FDA classified the company’s Dahej facility Official Action Initiated (OAI) after it conducted inspection in March, according to its stock exchange filing.
“Torrent Pharma has already submitted its initial response to the drug regulator and commitments given in response to Form 483 observations have been fulfilled,” the company said, adding that it is sending further updates over receiving of this OAI letter and will be engaging with the regulator and is fully committed in resolving this issue at the earliest.
The Nifty could witness further profit booking it is falls below 11,650, according to IIFL’s Senior Technical Analyst Hadrien Mendonca.
“The immediate support would come around 11,500 level on the downside,” Mendonca told BloombergQuint in an interaction. “We can expect fresh move on the upside if the 50-stock index breaks 11,700-11,720 levels,” he added.
Indian equity benchmarks struggled to recover as the gains in HDFC twins were countered by losses in Tata Consultancy Services Ltd. and Reliance Industries Ltd.
The S&P BSE Sensex fell 44 points or 0.11 percent to 39,171 as of 11 a.m. and the NSE Nifty 50 fell 0.14 percent to 11,671. The broader market index represented by the NSE Nifty 500 Index fell 0.28 percent.
The market breadth was tilted in favour of sellers. About 1,106 stocks declined and 539 shares advanced on National Stock Exchange.
Nifty’s 11,700 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the weekly contract which is set to expire this Thursday gained 71.8 percent to Rs 4.45. Over 30.9 lakh shares were added to the open interest which stood at over 51.49 lakh shares.
About 10 lakh shares of South Indian Bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of Wipro rose as much as 3.3 percent to Rs 268.10 after the company’s profit for the April-June period slipped but met estimates even as its margin narrowed due to wage hike and a stronger rupee in the quarter.
Key Earnings Highlights (Q1, QoQ)
Trading in the company's call options totalled 5,158 contracts, compared with the average of 1,824 over the past 20 days, according to Bloomberg data. Trading in the company's put options totalled 4,455 contracts, compared with the average of 1,197 over the same period.
Here’s what analysts are recommending to their clients on Wipro post its results announcement.
Indian equity benchmarks struggled to recover as the gain in HDFC twins were countered by the losses in Reliance Industries Ltd. and Yes Bank ltd.
The S&P BSE Sensex fell 50 points or 0.13 percent to 39,164 as of 10 a.m. and the NSE Nifty 50 fell 0.19 percent to 11,665. The broader market index represented by the NSE Nifty 500 Index fell 0.25 percent.
The market breadth was tilted in favour of sellers. About 1,000 stocks declined and 565 shares advanced on National Stock Exchange.
Shares of Mindtree fell as much as 10.6 percent to Rs 670.95, their lowest level since February 2018.
This after the software developer’s profit for the June quarter halved and results missed estimates as its margin narrowed owing to increased employee costs.
Key Earnings Highlights (Q1, QoQ)
Trading volume was almost 16 times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be overbought. The scrip declined 8.7 percent in the past five days and slumped 27 percent in the past 30 days.
Here’s what analysts are recommending to their clients on Mindtree post its results announcement.
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DFM Foods (Q1, YoY)
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