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Shares of the state-run aluminium manufacturer extended gains and rose as much as 12.24 percent, the most in nearly five months, to Rs 69.70 after Norsk Hydro moved to shut its biggest alumina refinery in Brazil.
Hydro’s alumina refinery Alunorte in Brazil announced today that the plant is preparing for full curtailment of its operation, Norsk Hydro said in a press release.
Shares of the commodities conglomerate rose as much as 5.87 percent to Rs 246.30 after it announced plans to expand investment in oil exploration.
Vedanta may spend up to $4 billion in 41 blocks if it finds oil. Chairman Anil Agarwal also said that company wants to expand oil output to 40,000 barrel per day in two years, according to a Bloomberg report.
Shares of the country's largest carmaker fell 2.07 percent to Rs 7,309 after it announced voluntary recall of Super Carry vehicles to inspect for a possible defect in fuel pump assembly, Maruti Suzuki said in an exchange filing.
640 vehicles in the domestic market manufactured between Jan. 20-July 14, 2018 will be covered in this recall campaign, the exchange filing added.
Shares of the Gurugram-based tyre maker fell as much as 3.1 percent to Rs 206.50 after its board re-nominated Neeraj Kanwar as its managing director.
BloombergQuint spoke to Anil Singhvi, chairman, Ican Investment Advisors, Sucheta Dalal of Moneylife and M Damodaran, former SEBI Chairman on how the IL&FS came to a point of default and what needs to be done next to rescue the shadow banker.
Sucheta Dalal
Anil Singhvi
M Damodaran
Shares of the Chandigarh-based steel wheel rim maker rose as much as 3.2 percent to Rs 1,108 after it won truck wheel orders from U.S. and European trailer markets, Steel Strips said in an exchange filing.
The company has won export order for supply of 1 lakh caravan and truck wheels to U.S. and European markets from October until December. The order is valued at $ 3 million and will be shipped from its manufacturing facility in Chennai.
Indian equity benchmarks extended decline led by losses in TCS, ICICI Bank, HDFC Bank and Reliance Industries.
The Sensex fell 0.9 percent or 325 points to 36,200 and the Nifty 50 Index tumbled 1 percent or 108 points to 10,900.
Eight of 11 sector gauges compiled by National Stock Exchange were trading lower led by Nifty Auto Index's 1.8 percent drop. On the flip side, the Nifty Metal Index was top gainer, up 1.15 percent.
The mid- and small-cap shares were mixed as the S&P BSE MidCap Index fell 0.6 percent while S&P BSE SmallCap Index climbed 0.4 percent.
Shares of the Mumbai-based lender extended gains for second day in a row and rose as much as 11 percent, the most in over two years, to Rs 222.95.
The company on Monday disclosed NPA numbers for the September quarter ahead of its earnings. Yes Bank’s gross NPA stood at 1.35 percent for Q2FY19 versus 1.82 percent as of Q2FY18.
Meanwhile, Yes Bank said the private lender will find Rana Kapoor’s successor by the Jan. 31 deadline given by the Reserve Bank of India.
Shares of the Nagpur-based mining company rose as much as 7.58 percent, the most in over a month, to Rs 168.90 after it revised ore prices.
Ferro grade, SMGR, Chemical Grade and Fines prices have been increased by about 10 percent on existing prices. Basic price of Electrolytic Manganese Dioxide has also been increased by Rs 9,000 per metric ton.
The company's revised prices will take effect from Oct. 1.
Shares of the Bhubaneswar-based aluminium maker rose as much as 3 percent to Rs 64 after it unveiled company's new business plan “NALCO:3-4-5”.
The main objective of new business plan is to increase the company’s three-digit profit figure to five-digit profit number, NALCO’s chairman Tapan Kumar Chand said.
The company will use artificial intelligence and internet of things in its business, he added.
Nifty Bank's 25,500 call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract plunged 50 percent to Rs 62.55. Over 4.75 lakh shares were added to the open interest which stood at 13.85 lakh shares.
Shares of the Delhi-based Royal-Enfield maker fell as much as 6.77 percent to Rs 23,072 per share after it reported production loss of 10,000 motorcycles in September after a section of its workforce did not report to work since Sept. 24 at its Oragadam factory near Chennai, Eicher Motors said in an exchange filing.
Meanwhile, its sales rose 2 percent to 71,662 units last month, the filing added.
Shares of the Mumbai-based cable television service provider rose as much as 10 percent, the most since Sept. 10, to Rs 27.80 after a report suggested that Reliance Industries has initiated talks to acquire Hathway Cable, The Economic Times reported citing three unidentified people aware of the matter.
The acquisition talks are underway in a bid to speed up the commercial launch of Reliance’s GigaFiber high-speed home broadband services, the report added.
Shares of the Investment Leasing & Financial Services group companies were locked in an upper circuit for second day in a row after the NCLT allowed appointment of a new board and approved induction of six directors with Uday Kotak acting as the non-executive chairman.
The new board is tasked with the responsibility of preparing a robust and time bound resolution plan for the troubled shadow banker.
Rally in crude oil is likely to put more pressure on the rupee, Bhaskar Panda, senior regional head of treasury advisory group at HDFC Bank told BloombergQuint in an interview.
Key highlights of conversation:
Infibeam Avenues
(As reported on Oct. 1)
Garden Reach Shipbuilders & Engineers gets 102 percent demand for shares offered on last day. The IPO was extended from its earlier closing date of Sept. 26 to Oct. 1. (Bloomberg News)
Dinesh Engineers IPO was subscribed 8 percent on the second day sale, offer closes today.
Here are some key events coming up this week:
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
.jpg?downsize=1080:540 "Sensex Suffers Worst Single-Day Drop In Seven Months")
