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Shares of the Nagpur-based synthetic yarn maker rose 7.2 percent to Rs 22.30 after it issued over 90 lakh shares by way of preferential issue on private placement basis.
Shares of the Ahmedabad-based shipping port operator rose 2.2 percent to Rs 370 after 2.7 crore shares or 1.3 percent equity changed hands in two blocks.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Uttar Pradesh-based steel maker rose as much as 10 percent to Rs 274 after its board approved stock split proposal.
The company informed exchanges that its board approved a proposal to split face value of of Rs 10 per equity share to face value of Re 1 per equity share.
Reserve Bank of India and government will together decide on what actions to take on rupee volatility, interim Finance Minister Piyush Goyal told media persons in Delhi.
Key highlights from Piyush Goyal’s conversation with media persons:
Shares of the Noida-based auto parts maker rose 3.2 percent to Rs 168.25 after 1.4 percent equity changed hands in a block on BSE.
Buyers and sellers were not immediately known
Source: Bloomberg
Former IAS officer Girish Chaturvedi has been selected as the director on ICICI Bank board.
He will take over as non-executive part-time Chairman of the bank after MK Sharma retires tomorrow, subject to regulatory approvals, ICICI Bank said.
Speaking to BloombergQuint ICICI Bank chairman designate Girish Chaturvedi said that he has not got any official communication yet from ICICI Bank.
ICICI Bank shares rose 0.8 percent to Rs 273.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Mumbai-based transmission tower maker rose as much as 4 percent to Rs 407.80.
Kalpatru Power Transmission received multiple orders worth Rs 1,235 crore, the company said in an exchange filing.
Shares of the Mumbai-based cement maker rose as much as 1.4 percent to Rs 3,775 after it commissioned 2.5 million tonnes per annum clinker capacity at Dhar in Madhya Pradesh.
After commissioning this plant, the company's total capacity is seen at 96.5 million tonnes per annum, UltraTech said in an exchange filing.
Shares of the country's largest private sector lender fell as much as 0.8 percent to Rs 2,114 ahead of its annual shareholders' meeting scheduled later in the day.
Meanwhile, HDFC Bank had 11.6 lakh shares changed hands in a single bock deal on BSE.
Shares of Talwalkars Lifestyles, the demerged arm of Talwalkars Better Value Fitness, got listed at stocks exchanges at Rs 136.80 per share.
Talwalkars Lifestyles settled at Rs 145 on BSE post demerger.
Shares of the Mumbai-based steel maker rose as much as 3.13 percent to Rs 565 as Thyssenkrupp AG and Tata Steel are closing in on a European steel joint venture after a last-minute change to the deal terms that won approval from Thyssenkrupp’s union, Bloomberg reported citing people familiar with the matter.
In the revised deal, Thyssenkrupp will own about 55 percent of the equity in the new company and Tata will have 45 percent, the report added.
Buyers and sellers were not immediately known
Source; Bloomberg
Shares of the Mumbai-based public sector lender rose as much as 9.4 percent on the back of heavy volumes.
Trading volume was 5.7 times its 20-day average currently of the day, according to Bloomberg.
Earlier this week, media reports suggested that the government may sell a part of its stake in the bank.
India is insulated from global trade tensions as it is a strong domestic economy, Mark Matthews, head of research Asia at Bank Julius Baer & Company told BloombergQuint in an interview.
Key highlights of the conversation:
The focus will undoubtedly be on the rupee which hit a record low on Thursday, falling past 69 a dollar and set for its worst quarter in five years.
Rising crude oil prices is expected to widen the nation's current account deficit and stoke inflationary pressures. Oil, India's biggest import item, is poised for the biggest weekly gain since mid-April as declining stockpiles in the U.S. and disruptions in Libya and Canada raised global supply risks.
Traders expect the RBI to intervene and prevent a sharp drop in the local currency. But that intervention is likely to cause liquidity to tighten in the money market and cause short rates to rise. The rupee fell 0.2 percent to close at 68.7925 on Thursday and forwards suggest it may start trading at 68.81 on Friday.
Meanwhile, the yield on the 10-year bond rose 6 basis points to 7.94 percent on Thursday and was headed for a fourth quarter of gains. The RBI will auction Rs 12,000 crore of government bonds and that will test investor appetite in an environment of tightening liquidity.
Nomura on Media
Nomura on Exide
Nomura on Auto
Deutsche Bank Research on BHEL
Macquarie on Graphite Electrode Sector
Morgan Stanley
CLSA
(As reported on June 28)
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The U.S. economy expanded in the first quarter at a slower pace than previously estimated.https://t.co/jOKv4a2v08
— BloombergQuint (@BloombergQuint) June 28, 2018
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