Investors are now focused on the Reserve Bank of India policy decision on Thursday. The central bank is likely to keep repurchase rate steady at 6.25 percent, according to BloombergQuint poll of economists.
Visaka Industries Rises For 3rd Straight Session
- Visaka Industries rises as much as 12%, extending its winning streak to three sessions.
- Volumes are at 11.5 times its previous 20-day average.
- The cement company has a market capitalization of Rs 500 crore.
Shares of the state-owned telecom company rose as much as 11 percent to Rs 27.20, the highest since March 2015. MTNL is considering asset sale proposals to reduce debt, the company said in a regulatory filing.
- Volume at 4.3 times its 30-day average;
- Stock has risen 26 percent year-to-date: Bloomberg data.
#BQSpotted by @OnlyNickey | Centrum Capital hits 20% upper circuit. pic.twitter.com/ltfhLD9Qsc
— BloombergQuint (@BloombergQuint) April 5, 2017
Shares of resorts and hotels operator jumped as much as 3.8 percent, most since March 16, to Rs 186.05.
Investment firm Grandeur Peak raised stake in the company to 10.2 percent from 2.7 percent earlier - regulatory filing.
Trading volume at 28 percent of the 20-day average: Bloomberg data.
#BQSpotted by @soumeet_sarkar | Binani Industries hits upper circuit. pic.twitter.com/dtFf3tidm2
— BloombergQuint (@BloombergQuint) April 5, 2017
Shares of engineering firm rose as much as 10.2 percent, most since February 15, 2016 to Rs 45.65.
Bankers are evaluating various options for debt resolution process, company said in a filing.
MBL Infra’s total debt stood at Rs 24,156.62 crore as of September 30.
Shares of mortgage lender fell as much as 2.2 percent to Rs 1,500.50, most since January 2.
HDFC fourth-quarter profit on investments sale stood at Rs 49 crore, down from Rs 1,520 crore a year earlier, which included profit of Rs 1,513 crore from sale of shares of HDFC Standard Life Insurance to Standard Life - regulatory filing.
Trading volume nearly twice its 30-day average; stock has gained 19.4 percent year-to-date: Bloomberg data.
Shares of the home improvement company started trading at Rs 545, a 18.47 percent premium to the issue price of Rs 460 per share, on the Bombay Stock Exchange. The company also listed on the National Stock Exchange at Rs 555, a 20.65 percent premium to the issue price.
Shares of watches and jewellery maker jumped as much as 5.9 percent to Rs 486.50, most since February 8.
Titan Company said it delivered “very good growth” in the January to March quarter and that its second half results “exceeded expectations on all counts.” The consumer sentiment as well as demand scenario recovered quite significantly post demonetisation, Titan said in a regulatory filing.
Shares of the EPC major gained as much as 4.6 percent to highest since at least March 2006. The stock is up for a sixth straight session. The company bagged order worth Rs 1,781 crore.
The company bagged international orders worth Rs 1,270 crore for the transmission and distribution business while domestic orders are worth Rs 432, KEC International said in a BSE filing. Moreover, the cable and solar business have secured various orders for cable supply/EHV cabling/rooftop solar projects of Rs 79 crore.
Nifty PSU Bank index drops 0.5% on UP Loan Waiver announcement; top sectoral loser @BloombergQuint pic.twitter.com/MdJVLqweve
— Shraddha Babla (@shraddha_babla) April 5, 2017
The rupee weakened 11 paise to 65.14 against the U.S. dollar in early trade.
Forex dealers said that increased demand for the U.S. currency from importers and the dollar's gains against some currencies overseas put pressure on the rupee. However, a higher opening in the domestic equity market capped the rupee's losses, they said.
On Monday, the rupee had lost 18 paise to close at 65.03 against the U.S. dollar. Forex market remained shut yesterday on account of 'Ramnavami'.
PTI
Shares of drugmaker fell as much as 2.5 percent to Rs 2,678.80.
Dr. Reddy’s received two Form 483 observations from U.S. Food & Drug Administration for Srikakulam unit. Form 483 is issued after the conclusion of an inspection when regulator finds conditions violating FDA guidelines.
Among the sectoral indices, CNX IT index fell 0.25 percent while CNX Bank index was down 0.18 percent. S&P BSE Consumer Durables index stood out with gains of more than 1 percent.
- Mahindra and Mahindra: Sells half of its inventory of BS-III vehicles at a discount of up to 15 percent.
- Infosys: Says cash component of COO Pravin Rao's remuneration has been decreased 10.6 percent to Rs 4.6 crore.
- Cipla: Gets final approval for its ANDA for Abacavir and Lamivudine tablets from the U.S. FDA.
- Coal India: Produces 66.07 million tonne of coal in March 2017 against a target of 63.23 million tonne.
- Dr. Reddy's: Company receives Form 483 with 2 observations from the U.S. FDA following audit completion of its Srikakulam facility.
- Aditya Birla Nuvo: Unit gets license for payments bank.
- NDTV: Enforcement directorate will hold adjudication proceedings against the company.
- Artson Engineering: Gets contract worth Rs 12.5 crore from Tata Projects.
For a complete list of stocks to watch, click HERE
- Defense panel clears Rs 500 crore purchase of Barak missiles
- India raises foreign investment limit in government debt
- Madras High Court asks Tamil Nadu government to waive loans of all drought-hit farmers
- Monetary policy committee to meet April 5-6
- India’s U.P. state said to mull cancelling 3.8 gigawatt power tender
- Rupee forwards advance as short-term volatility jumps: Asian NDFs
- Nasscom says U.S work visa memo will have little impact
- Hammond says U.K. seeks future free-trade agreement with India
- U.K., India fund to raise 500 million pounds for India energy sector
- NHAI to issue London masala bonds in next few months
- Global funds buy Rs 534 crore of local stocks; domestic funds buy Rs 33.3 crore on Monday: Provisional data
Also Read: India's Central Bank in Neutral May Be Reading Prices All Wrong
#Brexit’s biggest loser may actually be Poland, report @econ1st @MEStrzelecki.https://t.co/SmUS9D7M3t pic.twitter.com/J0jkhdGbuD
— BloombergQuint (@BloombergQuint) April 4, 2017
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