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NTPC
Equitas Holdings
Godrej Properties
DHFL
Network18 Media & Investments
FDC India
Finolex Cables
Sterling & Wilson Solar
Asia stocks were mixed Friday amid muted volumes, as investors awaited further details on U.S.-China trade discussions.
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The Reserve Bank of India today said that it has appointed an Advisory Committee to advise the Administrator of Dewan Housing Finance Corporation Ltd.
The panel will include IDFC First Bank Ltd.’s Non-Executive Chairman Rajiv Lall, Managing Director and CEO, ICICI Prudential Life Insurance Co. Ltd. NS Kannan and Chief Executive, Association of Mutual Funds in India NS Venkatesh, the country’s central bank said in a media statement today.
On Nov. 20, RBI had superseded the board of DHFL and intends to refer the non-bank lender for resolution under the newly introduced insolvency window for financial service providers. It also said that it intends to “shortly initiate the process of resolution of the company.”
Shares of DHFL hit an upper circuit of 5 percent for the second consecutive trading session.
Indian equity benchmarks extended declines to trade at day’s low
The S&P BSE Sensex fell over 250 points or 0.63 percent to 40,323 and the NSE Nifty 50 fell 0.6 percent to 11,895. The broader markets represented by the NSE Nifty 500 Index fell 0.55 percent.
Foreign investors continued to pour money into Indian markets after the government rolled back the higher tax surcharge on them—a month that had led to a selloff in July and August.
The overseas investors infused $1.75 billion into Indian stock markets last month.
However, one sector, grabbed 60 percent of the overall FPI inflow. (Click here to read more)
Nifty’s 12,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Nov. 28, fell 46.97 percent to Rs 36.75. Over 16.29 lakh shares were added to the open interest which stood at over 54.21 lakh shares.
Shares of Network18 Media and Investments extended gains for the fourth consecutive trading session. The stock rose as much as 14.2 percent to Rs 31.70. Meanwhile, shares of TV18 broadcast rose as much as 5.8 percent to Rs 24.50.
The companies clarified on the news of Sony stake purchase report that they are evaluating various opportunities.
“Sony Corp. is in talks to acquire a stake in the Indian television network controlled by billionaire Mukesh Ambani, as the Japanese giant seeks to tap booming demand for content in the South Asian nation,” Bloomberg had reported yesterday quoting people familiar with the matter.
About 10.8 lakh shares of Dish TV changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of Gayatri Projects fell for the fifth consecutive trading session. The stock hit a lower circuit of 10 percent at Rs 62.60.
Trading volume was 19 times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold.
The stock fell 36 percent in the past five days and fell 30 percent in the past 30 days, according to Bloomberg data.
Shares of Caplin Point Laboratories halted a five-day losing streak. The stock rose as much as 8.3 percent to Rs 332.
Trading volume was more than 10 times its 20-day average, according to Bloomberg data. The stock declined 12 percent in the past five days and fell 16 percent in the past 30 days.
Indian equity benchmarks traded lower after fluctuating between gains and losses in the opening trade.
The S&P BSE Sensex fell 0.28 percent to 40,460 and the NSE Nifty 50 fell 0.3 percent to 11,926. The broader markets represented by the NSE Nifty 500 Index fell 0.32 percent.
Shares of NTPC rose as much as 3 percent to Rs 118.75.
That comes after brokerage firm Morgan Stanley upgraded the stock rating to ‘Overweight’ from ‘Equal-weight’ and hiked price target to Rs 152 from Rs 146.7.
Here’s what the analyst had to say on BHEL:
Shares of Bharat heavy Electricals fell as much as 1.8 percent to Rs 54.45. The stock extended declines for the second consecutive trading session.
Crisil downgraded the rating of long-term bank facilities to ‘AA’ from ‘AA+’ with outlook revised from ‘Negative’ to ‘Stable’ due to company’s weaker than expected operating performance and the continued decline in net cash levels of the company during the first half of the current financial year.
BHEL traded at 16 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of Laurus Labs halted their two-day losing streak. The stock rose as much as 2.1 percent to Rs 340.
The company has received three observations on the pre-approval inspection for an API manufactured at its two units in Visakhapatnam by the U.S. Food and Drug Administration.
Laurus Labs fell 16 percent in the past 12 months compared to 15 percent gain in the Sensex. The scrip traded at 21 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of RITES fell as much as 3 percent to Rs 296.40.
The government is looking to raise up to Rs 1,100.6 crore via the offer-for-sale mechanism.
The centre plans to sell up to 3.75 crore shares or 15 percent stake at a floor price of Rs 293.5 per share, which is at a discount of 4 percent to closing price on Nov 21. The government’s stake may fall from 87.4 percent to 72.4 percent. The offer-for-sale opens on Nov. 22 and closes on Nov. 25.
Trading volume was 1,339 times its 20-dayaverage, according to Bloomberg data. Of the shares traded, 70 percent were at the ask price and 22 percent were at the bid.
Indian equity benchmarks opened lower, extending declines for the second consecutive trading session.
The S&P BSE Sensex fell 0.14 percent to 40,513 and the NSE Nifty 50 fell 0.19 percent to 11,946. The broader markets represented by the NSE Nifty 500 Index fell 0.08 percent.
The market breadth, however, was tilted in favour of buyers. About 820 stocks advanced and 499 shares declined on National Stock Exchange.
Six out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty IT Index’s 0.65 percent fall. On the flipside, the NSE Nifty Auto Index was the top sectoral gainer, up 0.37 percent.
The Indian rupee opened flat against the U.S. dollar. The home currency traded unchanged at 71.94 against the greenback.
Indian equity indices are set for a tepid start.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,642 and 11,970 respectively during the pre-market
CSB Bank IPO: All You Need To Know
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