Scan to Download
Indian equity markets had a lacklustre trading session as investors remained in a wait-and-watch mode ahead of Finance Minister Nirmala Sitharaman's third media address in as many days to announce measures to combat Covid-19.
The S&P BSE Sensex as well as the NSE Nifty 50 index ended little changed at 31,101 and 9,138 respectively. However, both the indices pared initial losses.
The Sensex gained over 320 points from the day's low, while the Nifty gained close to 100 points from 9,050 which was the lowest point of the day.
For the week, the Nifty ended 1.32 percent lower with auto stocks being the top performers after Vedanta. The Sensex ended 1.7 percent lower for the week, with the top three gainers being Auto stocks.
Among sectoral indices in today's session, the Nifty Metal index ended as the only sectoral gainer, ending higher by 1.4 percent. Other indices ended with losses between 0.1-1.7 percent.
Why Damani Family Is Betting On India Cements When Analysts Aren’t
The onset of India's monsoon season may be delayed as per the Indian Meteorological Departemnt (IMD). As compared to the normal monsoon date of June 1, the rains may hit the coast of Kerala on June 5, according to the IMD.
On the other hand, private weather forecaster Skymet has predicted that rains will hit the southern most tip of the country on May 28. The IMD's forecast has a margin error of four days.
The IMD has predicted in early April that this year's monsoon will be 100 percent of the Long Period Average (LPA). Monsoon in 2019 was 10 percent more than normal, the highest since 1994.
Shares gained as much as 2.7 percent to Rs 189.50.
First expanded government bond auction goes through smoothly.
— BloombergQuint (@BloombergQuint) May 15, 2020
Read: https://t.co/d43oIHkck3 pic.twitter.com/TdueOEVq92
The Shape Of India’s Exit From The Covid-19 Crisis
The Producers Guild of India has responded to the comments, citing them as 'abrasive and unconstructive messaging,' adding that releasing the film online was a more viable option in this uncertain times.
Apart from Inox, shares of PVR too were trading at a four-year low, down 5 percent to Rs 844.
Here's a look at how benchmark indices across Europe have opened:
India Seeks Local Warplanes as Overseas Purchase Plan Stalls
Billionaire Rahul Bhatia-operated Interglobe Enterprises, the biggest shareholder of budget carrier IndiGo has signed an agreement to participate in Virgin Australia's sale process, the company said in a statement to Bloomberg News.
The company said that it is bound by the confidentiality requirements of the agreement for not divulging further details.
Shares fell as much as 3.1 percent to Rs 941, post the announcement and are down for the third straight day.
19 lakh shares of the power company exchanged hands in a single large trade on the National Stock Exchange, as per Bloomberg data.
Buyers and sellers in the trade were not immediately known.
Shares recovered from as low as 1.6 percent to trade little changed at Rs 161.10.
The Vadodara-based pharma company has informed the exchanges that it has received the U.S. FDA approval for Doxycycline Hyclate Tablets, 100 mg.
The said drug is used in the treatment and prevention of infections that are proven or strongly suspected to be caused by susceptible bacteria, as per the company's press release.
The approved drug had an estimate market size of $53 million in the U.S. for the 12-months ending December 2019 as per the IQVIA.
Shares gained as much as 5.9 percent to touch an all-time high of Rs 896 in today's trading session.
The company has informed the exchange that it is considering a fund raise via rated, listed, secured, redeemable Non-Convertible Debentures (NCDs) worth Rs 1,000 crore.
The proposal will be considered at the company's board meeting to be held on May 20, 2020. A resolution for the same was passed by the board of directors on March 27 this year.
Shares are trading 0.8 percent lower at Rs 83.15, down for the second day in a row.
The company shared the FY20 update of its small finance bank unit in an exchange filing on Thursday. Equitas Small Finance Bank saw its advances rising 31 percent while deposits grew 25.7 percent year-on-year.
Provisions stood at Rs 247 crore while Gross and Net NPA stood at 2.72 and 1.66 percent respectively, deteriorating from the previous quarter.
Shares of the holding company now trade at the day's low, down 6.4 percent to Rs 48.50 and are down for the second straight day.
Key Factors At Play For Cipla:
The drug formulations maker has informed the exchanges that its API facility in Roha has received the Establishment Inspection Report (EIR) from the U.S. FDA.
The regulator had conducted its inspection at the said facility between February 17-21, 2020, the company said in its press statement.
The stock has snapped a 9-day losing streak, gaining as much as 9.3 percent to Rs 139.7. The stock has also gained today on volumes that are 8.6 times higher than its 30-day average.
Shares gained as much as 7.6 percent to Rs 166.95 and are up for the third straight day.
The company has shifted purchases of wheel sets to Europe from China. "Nothing as such which cannot be done minus China," he added.
Shares fell as much as 1.83 percent to Rs 32.2 and are down for the second straight day.
Finance Minister Smt.@nsitharaman to address a press conference today, 15th May, at 4PM in New Delhi.
— Ministry of Finance 🇮🇳 #StayHome #StaySafe (@FinMinIndia) May 15, 2020
Watch LIVE here 👇
➡️YouTube - https://t.co/osVVr5YGHl
Follow for LIVE updates 👇
➡️Twitter - https://t.co/XaIRg3fn5f
➡️Facebook - https://t.co/06oEmkxGpI pic.twitter.com/CqIix9S7bP
Nifty Bank: May 21 Expiry
Shares fell as much as 4.3 percent to Rs 320.70 and are down for the fifth straight day. This is the longest losing streak for the stock in four months.
The company has informed the exchanges that it has received a Letter of Acceptance from the Mumbai Metro Rail Project for construction of part design and construction of balance works of package 1, line 7, elevated viaduct.
The said contract is for the Andheri (East)-Dahisar (East) corridor and is worth Rs 174.76 crore.
The stock gained as much as 5.36 percent to Rs 84.50, post the announcement.
The company's revenue in dollar terms fell 1.9 percent as compared to the previous quarter while the same in rupee terms was flat.
Ebitda rose 2 times while margins expanded to 13.9 percent from 6.8 percent in the third quarter. Improvement in margins was aided by lower other expenses and sub-contracting costs.
The company's $5 million per annum customers grew 5 percent compared to last year, as per its press release. Digital business saw a growth of 23 percent year-on-year, MD & CEO Sandeep Kishore said.
The stock gained as much as 5.1 percent to Rs 87.30 and is up for the third straight day.
Shares gained as much as 5.1 percent to Rs 129.3 and are up for the fourth straight day.
24 lakh shares of the company exchanged hands in pre-market trading at Rs 414 per share, as per Bloomberg data.
Buyers and sellers in the trade were not immediately known.
The stock is locked in an upper circuit of 5 percent at Rs 440.05. This is the third straight upper circuit for the stock, after snapping a seven-day losing streak on Wednesday.
Indian equity markets are off to a subdued start after majority of Asian indices gave up gains as Covid-19 cases continue to rise across the globe. Futures on the Dow Jones are flat, down 23 points.
The S&P BSE Sensex opened 0.56 percent higher at 31,296 while the NSE Nifty 50 opened at 9,182, up 0.43 percent. Both the benchmarks gave up their modest gains soon after.
As of close on Thursday, both Sensex and Nifty were down over 1 percent for the week.
Most sectoral indices too opened on a flat note. The Nifty Realty index opened 1.2 percent higher while the Nifty Metal index opened 0.8 percent higher.
Coronavirus India Updates: Cases Top 81,000 As Details For Lockdown 4.0 Awaited
For all that you need to know going into trade today, click here.
Catch all the live action in the global markets here.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
