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Buyers and sellers were not immediately known
Source: Bloomberg
Buyers and sellers were not immediately known
Source: Bloomberg
Mishra Dhatu: The Hyderabad-based metal manufacturer rose 5 percent to Rs 143.25 after it reported March quarter earnings.
Key earnings highlights:
ONGC: The state-run oil explorer rose as much as 3.65 percent to Rs 176.25. CLSA has maintained buy on the stock for target price of Rs 240.
Orient Cement: The Hyderabad-based cement maker rose as much as 13.47 percent, the most in nearly four months, to Rs 139.45 after it terminated an agreement to acquire two Jaypee group entities.
Take Solution: The Chennai-based healthcare service provider rose 3.76 percent to record high of Rs 244.50 on the back of heavy volumes. Trading volume was 2.8 times its 20-day average.
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Economy is expected to grow at 6.5 percent growth this financial year, Tanvee Gupta Jain, India economist at UBS Securities told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the Kolkata-based infrastructure construction company fell as much as 7.8 percent to Rs 506.
The company informed exchanges that auditors failed to conclude the audit of the financial statement for the year ended March 2018.
Shares of the Chennai-based infrastructure construction company rose as much as 15.68 percent, the most in over a year, to Rs 112.85 after its profit more than doubled in March quarter.
Key earning highlights:
Shares of the Mumbai-based credit rating agency fell as much as 7 percent, the most June 2016, to Rs 1,735 after Sundaram MF - Select Midcap Fund sold stake in the company.
Block deal highlights:
Shares of the state-run oil explorer rose as much as 3.2 percent to Rs 179.60 after it reported March quarter earnings post market hours yesterday.
Key earnings highlights:
CLSA in a note said:
Motilal Oswal in a note said:
Shares of the Hyderabad-based cement maker rose as much as 13.47 percent, the most in nearly four months, to Rs 139.45.
Orient Cement has terminated the agreement to acquire two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms for a total consideration of Rs 1,946 crore.
Shares of the country's largest private sector lender rose as much as 4.48 percent to record high of Rs 2,126 following sharp surge in HDFC Bank ADR shares overnight.
HDFC Bank shares will be opened for FII buying starting tomorrow. Macquarie estimates that buying by foreign investors in HDFC Bank shares could be in excess of $1 billion.
Shares of the country's second largest private sector lender by assets fell as much as 1.68 percent to Rs 280.10.
ICICI Bank aftermarket hours yesterday said it will conduct an independent enquiry into whistleblower’s complaint about alleged impropriety by its Managing Director and Chief Executive Officer Chanda Kochhar.
All eyes will be on the growth data for the January-March quarter which is due after market hours today. As per a Bloomberg survey, growth in the fourth quarter was 7.4 percent.
While this makes India one of the fastest growing major economies, the sustainability of the trend is in question in light of the currency depreciation and the risk of higher inflation.
Sovereign bonds may see some relief after the global risk sentiment improved. Yield on the 10-year benchmark bond may ease a bit and trade in a range of 7.72-7.80 percent.
In the currency market, implied opening from forwards suggest the pair could open at 67.54. We could see the dollar consolidate at the end of the month, but any fresh bout of risk aversion could weaken the rupee again. Traders see a range of 67.30-67.80 in the day.
Motilal Oswal
CLSA
CLSA on Torrent Pharma
IOC cuts petrol price by 7 paise per litre, diesel by 5 paise per litre. pic.twitter.com/jePqJzTgPB
— BloombergQuint (@BloombergQuint) May 31, 2018
(As reported on May 30)
CRISIL
Sirca Paints
V-Guard Industries (Q4 YoY)
Infibeam Q4 QoQ
McLeod Russel (Q4 YoY)
ICICI Bank to probe allegations against Chanda Kochhar. But how did we get here? @visshy_it brings you the details.https://t.co/pfxT5s5st6 pic.twitter.com/JYp8ofuQsJ
— BloombergQuint (@BloombergQuint) May 30, 2018
Oil holds near $67 as market tumult subsides after OPEC worries.https://t.co/AshDolwUXb pic.twitter.com/4XNH083YsW
— BloombergQuint (@BloombergQuint) May 30, 2018
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