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Indian equity markets ended lower after trading in a narrow range for most parts of the trading day.
The S&P BSE Sensex ended 0.14% lower at 38,365 while the NSE Nifty 50 ended 0.33% lower at 11,317.
Bharat Petroleum was the top gainer on the 50-stock index, ending with gains of 2.7%. Only 13 out of the 50 Nifty constituents ended the session with gains. Monday's top gainer Bharti Infratel was today's top laggard, ending 8.1% lower.
All sectoral indices barring I.T. ended with losses. The technology index ended with gains of 1% and was the only sectoral gainer.
Metals and Media stocks were the top laggards in today's session with their respective indices ending with declines of over 3% each. Other sectoral indices like Pharma, PSU Bank and Realty fell between 1.5%-2%.
Broader markets underperformed in today's session. The midcap index fell 1.6% while the smallcap index declined 1.1% at the close of trade.
The India Volatility Index rose 4% courtesy a surge in the final minutes of trade to end at 22.87.
Market breadth was adverse with the broader markets underperforming. 1,251 stocks on the NSE ended with losses while 560 posted gains.
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Shares gained as much as 4.1% to Rs 2,508, snapping a two-day losing streak.
Shares fell as much as 4.4% to Rs 44.5, post the announcement. The stock is down for the fourth straight day.
Shares gained as much as 2.7% to Rs 625, post the announcement. The stock has snapped a three-day losing streak.
Jefferies has a price target of Rs 340 on the stock. Shares recovered from the day's low to gain as much as 1.3% to Rs 264.25.
Shares of the dyes and dyes intermediates manufacturer are trading with gains in today's session after the company's promoter increased stake in the company on Monday.
Promoter Gautam Gopikishan Makharia acquired 1.98 lakh shares of the company or 0.64% stake in a large trade at Rs 104.18 per share.
Shares have snapped a three-day losing streak to be locked in an upper circuit of 5% at Rs 109.35. The stock has gained only thrice in the last 12 trading sessions.
Let's take a look at how benchmark indices across Europe have opened:
The company in an exchange filing on Monday said that it has re-opened 95% of its stores.
Brand Factory, Central and aLL stores saw 1 million customers walk-in during the month of August.
Sales of Central grew 33% in August as compared to July, the company said. Sales of Brand Factory rose 50% while those of the plus size retail fashion chain aLL more than doubled its sales in August as compared to July.
The increase in sales was driven by the company's flagship brands like Lee Cooper, Indigo Nation, Scullers and Jealous 21, the statement said.
Shares remain locked in a lower circuit of 5% at Rs 114.65.
Shares fell as much as 5% to Rs 102.2, the lowest level in nearly a month.
The company has informed the exchanges that the Karnataka Appellate Tribunal, through an order on September 2 has granted a stay on the recovery of demand aggregating to Rs 85.5 crore for the period of 2012-13.
The company has received demand notices from the commercial tax department of the government of Karnataka, aggregating to Rs 666.94 crore for the periods 2006-2007 and 2015-2016 by treating stock transfers of the company's Mangalore plant as interstate sales to dealers.
"The company does not consider these stock transfers as interstate sales and is taking all the necessary legal steps to defend the matter," the statement said.
Shares gave up gains to fall as much as 1.4% to Rs 1,457 before recovering. The stock currently fluctuates between gains and losses.
Private equity player Silver Lake has led a $500 million fund round for Byju's that values the Indian online education platform at around $10.8 billion, a person familiar with the matter told Bloomberg News.
The source also said that existing backers like Tiger Global, General Atlantic and Owl Ventures also took part in the latest funding round.
Bloomberg News had earlier reported that Byju's is close to getting $400 million from Yuri Milner's DST Global, although the funding is yet to be finalised. The start-up remains in negotiations over several other rounds of Funding.
Byju's in the year ended March 2020 had doubled its revenue to Rs 2,800 crore and was profitable as well.
The company has informed the exchanges that it has won orders worth Rs 287.4 crore from Indian Oil Corporation and Bharat Gas Resources.
The order pertains to LPG gas pipelines and City Gas Distribution for supply of API Grade pipes.
The order from Indian Oil has to be executed within a period of 10 months and is worth Rs 152.3 crore while that from Bharat Gas has to be executed within a period of 12 months and is worth Rs 135.1 crore.
Shares rose as much as 6.6% to Rs 177. The stock has snapped a two-day losing streak.
The I.T. major informed the exchanges that it has won a multi-year global automotive software engineering contract from Marelli.
As part of the agreement, Wipro will leverage its Engineering NXT framework to establish a software engineering factory for Marelli. It wil also help improve Marelli's operating efficiency and expedite the launch of cutting-edge technologies, according to its exchange filing.
"This partnership is proof point of the value we bring to the automotive industry and builds upon our growing footprint in Europe and Japan which are strategic markets for us," Harmeet Chauhan of Wipro was quoted as saying.
Brokerage firm Citi in a note released today has referred to Wipro as a 'tactical buy' and raised its price target to Rs 315 from Rs 260.
Shares gained as much as 2.4% to Rs 285.4 and are trading at the highest level since June 2019.
The fund raising committee of the Board of Directors approved the issue of rated, un-secured, listed, redeemable Non-Convertible Debentures (NCDs) at a board meeting held today.
The NCDs will aggregate to Rs 1,500 crore which may be increased to Rs 3,000 crore if the greenshoe option to retain the oversubscription is exercised, the company said in an exchange filing.
This will be done on a private placement basis in one or more tranches to certain eligible investors, the company said.
Shares are currently little changed after falling as much as 1.5% to Rs 112.35, post the announcement.
The company's Board of Directors approved the launch of a QIP on Wednesday in order to raise funds.
The floor price of the QIP was set at Rs 1,798.2 per share, which was a 2.1% discount to Monday's closing price.
The company may offer a discount of not more than 5% on the Floor price, as per the SEBI guidelines.
Shares gained as much as 2.9% to trade at an all-time high of Rs 1,890. The stock is up for the third straight day.
The rupee has opened lower for the second straight day after ending as the worst performing currency in Asia on Monday.
The currency opened at 73.63 against the U.S. Dollar as compared to Monday's close of 73.35.
Strength in the Chinese Yuan, weakness in the U.S. Dollar and inflows will keep the currency supported, according to CR Forex.
Yield on the 10-year government bond opened at 6.02% as compared to Monday's close of 5.994%.
Cogencis reported Monday that the government's market borrowing may exceed the Rs 12 lakh crore mark.
DCB Bank believes that the market is testing the Reserve Bank's resolve to keep yields low.
Brokerage firm Axis Capital has maintained its Add rating on the stock and raised its price target to Rs 3,570 from Rs 3,115. Axis Captial sees further upside on the stock led by reduction in cash burn for new ventures led by Zomato.
Shares gained as much as 4% to Rs 3,424, post the announcement. The stock has snapped a three-day losing streak.
The construction company has informed the exchanges that it has emerged as the L-1 bidder for projects of the National Highway Authority of India (NHAI).
The first project involves four laning of the Arrah to Pararia section of NH-319 in the state of Bihar under the Bharatmala Pariyojana. The 54 km project will be completed in an EPC mode.
The second is for four laning of the Pararia to Mohania section of NH-319 in the state of Bihar. The 60 km project will also be completed under the EPC mode.
The aggregate value of both the projects is Rs 1,390 crore, the company said in an exchange filing.
Shares gained as much as 5.2% to Rs 71.7, post the announcement.
Shares of the state-run defence company are declining at the start of trade. The company in an exchange notification on Monday said that the government intends to sell 10% stake in the company or close to 1.8 crore shares through an Offer for Sale.
The government will also have an option to sell an additional 5% stake or close to 90 lakh shares in the OFS.
The floor price of Rs 330 per share is a 14.2% discount to Monday's closing price. The government looks to fetch Rs 900 crore from the OFS.
On complete sale of the 15% stake, the government shareholding in the company would come down to 72.75% from the previous 87.75%.
The OFS for non-retail investors is open while that for retail investors will open tomorrow.
Shares fell as much as 13.1% - the most on record to Rs 334.1. The stock is down for the third straight day and trading at a two-month low.
Indian equity markets have opened flat, with its peers across Asia trading with gains and in the absence of directional cues from Wall Street.
Both the S&P BSE Sensex and the NSE Nifty 50 index opened 0.2% higher at levels of 38,498 and 11,378 respectively.
Most sectoral indices have opened flat but with a positive bias. The Nifty I.T. index has opened 0.7% higher while Auto, Media, Metal, Pharma and Realty indices are gaining between 0.2-0.3% each.
Broader markets too have opened flat. The midcap index has opened 0.2% higher while the smallcap index has commenced trading with gains of 0.3%.
For more details on earnings reported after market hours, key brokerage updates, F&O cues and more, click here.
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