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Indian equity markets ended a volatile session with gains after giving up most of them during the second half of trade.
Tensions on the India-China border led to investors booking profits from the highest point of the day.
The S&P BSE Sensex ended 1.13% higher at 33,605. The index ended over 600 points lower from its day's high of 34,022.
The NSE Nifty 50 ended 130 points off the day's high of 10,046. The index ended 1% higher at 9,914. Broader markets underperformed in today's session.
Among sectoral indices, the Nifty Bank ended with gains of 2% led mainly by HDFC Bank and ICICI Bank. The media and metal index ended with gains of over 1% while I.T. and Auto indices ended flat.
FMCG, Pharma, PSU Bank and Realty indices were the sectoral laggards.
Market breadth ended in favour of the declines. 983 stocks on the NSE ended with losses while 846 posted gains.
Recurring border tensions with China or Pakistan have been weighing on the Rupee, and the latest flare-up will add more pressure, according to the ING Group.
Prakash Sakpal, an economist with ING told Bloomberg that the currency can depreciate towards 77.40 against the U.S. Dollar over the next three months.
The rupee ended 0.24% lower in today's trading session at 76.21. It also ended as the worst performing currency among its Asian peers.
The company has informed the exchanges that it will make an acquisition for two companies.
The first one will involve acquiring a 100% stake in FTF Pharma for a total consideration of Rs 75 crore, an amount equivalent to the enterprise valuation, as per the company's press release.
It will also acquire 40% stake in Auxilla Pharmaceuticals for Rs 6 crore. Auxilla was a limited Liability Partnership which was incorporated on May 14, 2020.
The company expects to complete the FTF Pharma deal on or before April 30, 2023 while the timeline for Auxilla is subject to agreement from both parties.
Shares fell as much as 8.8% to Rs 514, post the announcement.
Shares of Maruti Suzuki trade 0.5% higher at Rs 5,504 while Shares of IndusInd Bank are down 2.5% at Rs 478, declining for the second day in a row.
Shares fell as much as 5.6% to Rs 1,510, post the announcement, before recovering.
The stock has gained in five out of the last six trading sessions so far.
Source: PTI
The company has informed the exchanges that the Board of Directors have approved the borrowing of funds up to Rs 500 crore.
The fund raising will be done through the issuance of secured, rated, listed, redeemable, non-convertible and taxable debentures (NCDs).
The NCDs will be issued in one or more tranches on a private placement basis.
Shares fell as much as 1.7% to Rs 661 and are down for the third straight day.
Here's how benchmark indices across Europe have opened:
Rakesh Jhunjhunwala has increased his stake in the company to 5.2%, according to the recent shareholding pattern.
Rakesh Jhunjhunwala's wife bought an additional 0.4% stake on June 15.
Until June 14, the investor and his family held up to 4.8% stake in the company.
The stock is currently trading 0.6% lower at Rs 669.85, snapping a two-day losing streak.
Shares are trading little changed at Rs 994.60, off the day's low.
The Indian government is working with JPMorgan chase to potentially include its bonds in the firm's global indices, people with knowledge of the matter told Bloomberg News
India is aiming for a 7% weightage in the indices tracked by global investors, the sources said, adding that details have not yet been finalised and are subject to change.
Opening up of the sovereign bond market to overseas investors has so far attracted inflows worth $2.4 billion.
A previous attempt at inclusion in JPMorgan's indices had fizzled out in 2013 when Indian officials resisted removal of cap on foreign ownership.
Representatives of JPMorgan and the Finance Ministry were unavailable for comments.
The company informed the exchanges on Monday that it is all set to commercially launch its key API - Fexofenadine in the U.S. Market.
Fexofenadine is an anti-histamine drug used in the treatment of seasonal allergic Rhinitis and Urticaria in the U.S. market.
The company has received commercial orders for the same and supplies will begin from the current quarter, according to its exchange filing.
U.S. market contributed 14% to the company's revenue where it supplies 7-8 products comfortably.
The stock is locked in an upper circuit of 10% at Rs 33.25 and is up for the second straight day.
The Chennai-based technology company reported a revenue of Rs 360 crore for the March quarter, while the same in U.S. Dollar terms stood at $49.7 million.
Licence segment revenue for the company stood at Rs 101 crore while that for AMC and cloud stood at Rs 67 crore and Rs 38 crore respectively.
The company's iGTB division saw revenue of Rs 163.4 crore, 67.4% of which came from advanced markets, according to the company's exchange filing.
It also had seven digital wins this quarter including three large digital transformation deal wins.
Shares are locked in an upper circuit of 10% at Rs 96.80, snapping a three-day losing streak.
The tyre manufacturer reported a net loss of Rs 47.2 crore for the March quarter, mainly due to a forex loss of Rs 61.1 crore.
The company's India business reported a 32% decline in revenue while the Mexico business saw revenue de-growth of 36%.
Ebitda fell 19.9% while margins expanded to 11.6% from 9.6%. The board has also recommended a dividend of Rs 0.70 per share.
Shares fell as much as 6.7%, nearly wiping out all of Monday's gains before recovering from the day's low. The stock currently trades 3% lower at Rs 61.8.
The drugmaker informed the exchanges that it has received final approval from the U.S. FDA for its ANDA Deferasirox tablet.
The said drug is used in the treatment of chronic iron overload due to blood transfusions and for treatment of chronic iron overload due in non-transfusion-dependent Thalassemia syndrome.
The 180 mg Deferasirox tablet had an estimated market size of $53 million for the 12-months ending March 2020, as per the IQVIA.
The company now has 122 ANDA approvals from the U.S. FDA, according to its exchange filing.
Shares gained as much as 6% to Rs 943.8 and are up for the third straight day.
The company has informed the exchanges that it has bagged export orders of over 36,000 wheels for the Caravan and Truck Trailer Market in the European Union.
The order is worth nearly 2.21 lakh Euros and is supposed to be executed from the company's Chennai plant in July and August.
The exchange filing further states that it expects more large orders in the coming weeks.
Shares gained as much as 8.5% to Rs 394.80 and are up for the second straight day. The stock snapped a six-day losing streak in Monday's trading session.
Shares gained as much as 8.9% to Rs 58 and are up for the third straight day - its longest losing streak in a month.
The lender informed the exchanges on Monday that it has signed a preliminary, non-binding letter of intent with the Clix Group with regards to the proposed amalgamation of the group with the bank.
Under the non-binding Letter of Intent, the proposed amalgamation is subject to completion of mutual due diligence.
The due diligence will take place in an exclusive window of 45 days and will be subject to regulatory and other customary approvals.
Shares are locked in an upper circuit of 5% for the third straight day at Rs 16.
The passenger car and M&HCV manufacturer reported a net loss of Rs 9,894 crore during the March quarter, which was attributed to two exceptional items.
The first exceptional item pertained to provisions for impairment in the PV Business, onerous contracts and subsidiaries, amounting to Rs 2,548.8 crore. Another exceptional item of Rs 2,800.6 crore impacted the company's profitability.
Ebitda fell 70.4% while margins narrowed to 3.8% from 9.3% in the same quarter last year.
The company expects JLR's free cash flow to be less than negative 2 billion pounds in the June quarter.
The management also said that it is planning for a strategic partner for its Passenger Vehicles business.
The stock fell as much as 4.1% in trade after paring early gains of as much as 3%. Shares are now down for the sixth straight session, its longest losing streak in three months.
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Canara Bank's non-banking financial arm reported a 35% growth in its Net Interest Income for the March quarter to Rs 186 crore. Net profit too saw an increase of 36% from the previous year to Rs 91 crore.
Asset quality remained largely stable at 0.76% as compared to 0.8% in the previous quarter.
The company reported a loan book growth of 13% while Net Interest Margins rose to 3.52% from 3.29%.
For its Covid-19 impact, the company said that it did not make any disbursements during the month of April 2020 and business resumed only in the last week of May.
Shares gained as much as 11.7% - the biggest single-day gain for the stock in five months. The stock is now trading at a three-month high.
Indian equity markets staged a strong rebound, in-line with global equities, erasing Monday's losses in the process.
The S&P BSE Sensex opened 1.9% higher at 33,853 while the NSE Nifty 50 opened above the 10,000 mark at 10,014, up 2.05%. Both benchmarks posted losses of 1.6% in Monday's trading session.
All 50 stocks on the Nifty 50 index opened with gains.
All sectoral indices opened with gains. The Nifty Bank and Nifty Media index opened 3% higher while Nifty Metal and Nifty PSU Bank index gained 2.5%. Nifty Auto, I.T. and Realty indices gained between 1.5-2% at the start of trade.
Market breadth remained in favour of the advances. 1,217 stocks on the NSE opened with gains while 242 declined.
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