Scan to Download
Indian equity markets had a rangebound session but managed to register gains for the week.
The S&P BSE Sensex ended little changed at 38,040 while the NSE Nifty 50 index ended 0.1% higher at 11,214.
Asian Paints emerged as the top gainer on the Nifty 50 index, ending with gains of 4.6% while Titan was the top Nifty laggard, ending 2.5% lower.
Among the sectoral indices, the PSU Bank index was the top performer in the session, ending with gains of 1%. Nifty FMCG and Nifty Auto gained over 0.5%. Metal index had yet another day of gains, ending higher for the sixth straight session with gains of 0.8%.
Broader markets outperformed for the day and for the week as well. The midcap index ended 1.2% higher today while the smallcap index gained 1.2%. Both indices were up over 4% for the week.
The India Volatility Index ended 3.3% lower at 22.37.
Market breadth ended in favour of the gainers. 1,165 stocks on the NSE traded with gains while 649 stocks declined.
Both benchmark indices registered gains of over 1% for the week.
Shares gained as much as 9.7% to Rs 253.55, post the announcement. The stock is up for the second straight day.
The company has informed the exchanges that it has approved the proposal for making a binding bid to acquire controlling stake in CG power.
Tube investments will first make an initial investment of Rs 700 crore in CG Power to acquire controlling stake.
This will be done through a combination of primary subscription of equity shares for which it will invest around Rs 550 crore, primary subscription to warrants for an investment of Rs 150 crore.
The warrants referred will be convertible into equivalent number of equity shares within 18 months from the date of allotment.
Shares ended 6.1% higher at Rs 540.8, the highest level in five months. This was the biggest single-day gain for the stock in over two months.
Shares ended off the day's high but up 4% at Rs 2,981, which is an all-time closing high. The stock ended higher for the second day in a row.
Shares fell as much as 2.6% to Rs 959, post the announcement. The stock is down for the second straight day.
Shares fell as much as 1.9% to Rs 406, post the announcement. The stock has snapped a two-day gaining streak.
Shares ended 8% higher at Rs 257.3 - the highest level in five months.
The company has informed the exchanges that it has decided to suspend the print publication of the English Daily newspaper 'Mail Today' from August 10, 2020.
TV Today has cited viability of the print media in the current situation as the reason behind the move. "The content shall continue to be published in the digital format," the company said in an exchange filing.
Mail today comprises of insignificant portion of the business of the company, the statement said. During the quarter ending June, the newspaper in its physical form contributed 2% to the company's total revenue.
Shares recovered from the day's low to gain as much as 2.7% to Rs 215. The stock is currently fluctuating between gains and losses.
Shares of Mahindra & Mahindra fell to the day's low, falling as much as 1.25% to Rs 602, post the announcement. This compares to the Nifty 50 index which is little changed.
Let's take a look at how benchmark indices across Europe have opened:
Shares gained as much as 4.9% to Rs 371, snapping a two-day losing streak.
Shares are trading at the day's high, gaining as much as 3.6% to Rs 1,380.5. The stock is up for the second straight day.
In addition to this, the company's arm Deepak Phenolics is expanding its capacity of production of lsopropyl Alcohol at its Dahej unit from 30,000 to to 60,000 tons per annum.
Investment cost will be Rs 50 crore and the new capacity is expected to be commissioned in the first quarter of FY22.
Shares fell as much as 11.4% - the most in five months to Rs 569.75. Shares are off the day's low but continue to trade with losses. The stock is also the worst performer on the Nifty Smallcap Index.
Shares gained as much as 9.1% - the most since June 2019 to Rs 357.7. The stock trades at the highest level since July 2010 and is the top performer on the Nifty Midcap index.
Brokerage firm Antique stock broking maintained its buy rating on the stock and raised its price target to Rs 6,810 from the earlier Rs 6,120.
It has cited Bayer's merger with Monsanto India to reap benefits and be positive in the long-term.
Shares gained as much as 14.5% to an all-time high of Rs 6,450.
Shares fell as much as 6.2% to Rs 877.80.
Mindspace Business Parks listed its units on the bourses at Rs 302 per unit - a 9.8% premium to its issue price of Rs 275 per share.
The company's Rs 4,500 crore IPO was subscribed 13 times on the final day of bidding.
Institutional subscription stood at 10.65 times while the retail portion was subscribed 10.65 times.
The currency has opened with losses in today's session after ending unchanged on Thursday.
The rupee opened at 75.06 against the U.S. Dollar as compared to Thursday's close of 74.93.
Traders will look forward to weekly data on forex and bank credit released by the Reserve Bank of India.
Within the bond markets, traders will focus on the sale of Rs 30,000 crore in government bonds.
The RBI's decision to allow banks to consider Mutual Fund holdings as equivalent to debt in terms of capital charge for market risks can aid bonds, according to Murthy Nagarajan of Tata Mutual Fund.
Coronavirus India Updates: Tally Tops 2 Million With Over 41,500 Dead
The company has informed the exchanges of securing export orders for close to 20,000 wheels for the Caravan Trailer Market in the European Union.
The order is valued at 1.38 lakh Euros, according to the company's exchange filing.
The order will be executed from the company's Chennai plant in the month of September.
Shares gained as much as 2% to Rs 431.65, post the announcement.
The company has announced a technical collaboration with Tooling Holland - a plastic mould manufacturing company.
The association will strengthen the company's technical competence and enhance operational efficiencies, as per the exchange filing.
"This alliance provides great impetus to our growth plans and our firm commitment to build and offer superior products, aligned to global standards and at competitive costs," Prince Pipes' Executive Director Parag Chheda said post the announcement.
Shares gained as much as 14.8% - the most on record to Rs 140.5. The stock trades at the highest level in five months and is up for the fifth straight day.
Brokerage firm CLSA has maintained its underperform rating on the stock and has cut its price target to Rs 8.4 from the earlier Rs 9.2.
The firm expects upside potential for the company's ARPU but has cited the AGR dues burden as 'enormous.'
Shares fell as much as 7.9% to Rs 7.6, down for the fourth straight day. The stock has recovered from the day's low.
Indian equity markets opened flat but with a negative bias on the final trading day of the week.
The S&P BSE Sensex opened 0.2% lower at 37,591 while the NSE Nifty 50 index opened little changed at 11,186.
As of closing on Thursday, both benchmark indices were up 1% on a weekly basis.
All sectoral indices have opened flat. The Realty index has opened 0.7% higher while the Metal index has opened 0.4% lower. The index has gained in eight out of the last nine trading sessions.
Broader markets have opened flat but with minor gains. The midcap index is up 0.3% while the smallcap index has gained 0.1% at the start of trade.
Market breadth is in favour of the gainers. 935 stocks on the NSE opened with gains while 455 declined.
To know more about earnings reported after market hours, brokerage views and the F&O setup, click here.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
