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Shares of Kotak Mahindra Bank rose as much as 0.3 percent to Rs 1,652. The stock is set to record high.
The scrip extended gains for the fourth consecutive trading session.
Mindtree
Larsen & Toubro Infotech
Emami
CSB Bank
Ramco Systems
Eris Lifesciences
Apollo Hospitals
Indian equity benchmarks reversed losses during the last-hour trade.
The S&P BSE Sensex rose 0.13 percent to 40,724.44 and the NSE Nifty 50 rose 0.13 percent to 12,009. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.
Shares of Gujarat Fluorochemicals extended gains for the second consecutive trading session. The stock rose as much as 10.2 percent to Rs 498.30.
The analysts 12-month consensus price target tracked by Bloomberg stood at Rs 575, implying a potential upside of 17.8 percent from the current market price.
U.S. equity-index futures slipped along with shares in Asia, while stocks in Europe edged higher as President Donald Trump kept investors guessing about the likelihood of a trade truce with China before this month’s tariff deadline.
Get your daily fix of global markets here.
Source: Bloomberg
The offer-for-sale of shares in HDFC Asset Management Company was subscribed 49.65 percent as of 2:10 p.m., according to data available on Bombay Stock Exchange.
The company’s promoter Standard Life Investments proposed to sell 47.5 lakh shares or 2.23 percent equity, with an option to sell additional 38.5 lakh shares or 1.81 percent equity.
The floor price has been set at Rs 3,170 per share, which is at a discount of 8 percent to current closing price of Dec. 3. Standard Life Investments has 29.94 percent stake in the company as per recent exchange filing.
Shares of the Mukesh Ambani-led conglomerate declined 2.9 percent intraday, its biggest intraday slide since October, to Rs 1,533.75 apiece.
However, the stock has advanced 33 percent in the past 12 months compared to a 12 percent gain in the Sensex.
Shares of the Tata-Group firm rose as much as 6.1 percent to Rs 167.75 apiece.
Automaker Tata Motors Ltd. has decided to increase prices of its passenger vehicles from January, primarily to offset costs incurred for upgrading engines to the latest emission standards.
This comes as Maruti Suzuki India announced car price hikes, which come into effect January, to offset rising input costs, on Tuesday. Other automakers like Toyota, Mahindra and Mahindra Ltd are likely to follow suit.
The stock traded 60 times its estimated earnings per share for the coming year, Bloomberg data showed.
The Cabinet has approved umbrella bond ETF through which government hopes to diversify investor base by bringing in more retail investors, Sitharaman said.
Key highlights from cabinet decisions:
Catch all the updates on cabinet briefing here:
Indian equity benchmarks traded lower after fluctuating between gains and losses.
The S&P BSE Sensex fell 0.16 percent to 40,606 and the NSE Nifty 50 fell 0.16 percent to 11,975.60. The broader markets represented by the NSE Nifty 500 Index fell 0.13 percent.
The IHS Markit India Services Index rose to 52.7 in November from 49.2 in October. The composite PMI rose to 52.7 from 49.6.
In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
Shares of ICICI Bank rose as much as 2.9 percent to hit an all-time high at Rs 524.30. That comes after brokerage firms Nomura and UBS hiked their price target on the stock.
Here’s what analysts had to say:
UBS
Nomura
CSB Bank Shares Jump 49% On Stock Market Debut
Indian equity benchmarks reversed opening losses.
The S&P BSE Sensex rose 0.1 percent to 40,714 and the NSE Nifty 50 rose 0.07 percent to reclaim 12,000-mark. The broader markets represented by the NSE Nifty 500 Index rose 0.1 percent.
Shares of ICICI Securities extended gains for the second consecutive trading session. The stock rose as much as 2.6 percent to Rs 353, its highest level since August 2018.
The scrip returned 4.3 percent in the past five days and 7 percent in the past 30 days.
Shares of CEAT fluctuated between gains and losses to trade little changed at Rs 930.
About 3,52,098 shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Of the shares traded, 48 percent were at the ask price and 40 percent were at the bid, according to Bloomberg data. The stock traded at 15 times its estimated earnings per share for the coming year.
Shares of HDFC Asset Management fell as much as 3.3 percent to Rs 3,329.
The company’s promoter Standard Life Investments proposed to sell 47.5 lakh shares or 2.23 percent equity, with an option to sell additional 38.5 lakh shares or 1.81 percent equity.
The floor price has been set at Rs 3,170 per share, which is at a discount of 8 percent to current closing price of Dec. 3. Standard Life Investments has 29.94 percent stake in the company as per recent exchange filing.
Indian equity benchmarks opened lower, in line with Asian peers on heightened uncertainty over this month’s upcoming tariff deadline.
The S&P BSE Sensex fell 0.3 percent to 40,562 and the NSE Nifty 50 fell 0.29 percent to 11,958. The broader markets represented by the NSE Nifty 500 Index fell 0.34 percent.
The market breadth was tilted in favour of sellers. About 856 stocks declined and 543 shares advanced on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 1.8 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.5 percent.
Indian equity benchmarks are set to open lower.
The S&P BSE Sensex traded little changed at 40,651 during the pre-market trade and the NSE Nifty 50 fell 0.65 percent to 11,916.80.
Europe’s Fragile $2 Trillion Stock Rally Fails to Win Over Big Investors
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