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Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Hyderabad-based software developer were locked in a 5 percent upper crcuit at Rs 42.15 after it acquired Karix Mobile for Rs 340 crore, Tanla Solutions said in an exchange filing.
Shares of the Mumbai-based educational book publisher rose as much as 6.1 percent to Rs 129.50 after its board approved buyback of up to 46.9 lakh shares or 2.01 percent equity at Rs 160 per share, Navneet Education said in an exchange filing.
Shares of the Anil Agarwal-led metal conglomerate rose as much as 3.4 percent to Rs 222.50 after the National Green Tribunal formed a panel on reopening Vedanta's Tuticorin copper unit.
National Green Tribunal said:
Source: Bloomberg
Rajnish Kumar, chairman of the State Bank of India in Mumbai said because of the stress in the banking sector the atmosphere has gotten vitiated and this is why there has been a trust deficit in the system.
Key highlights from Rajnish Kumar’s speech:
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India’s policy environment has defied expectations and remained relatively benign despite upcoming elections in 2019. Macro stability is strong, backed by a central bank committed to keeping real rates positive, said Morgan Stanley in a report co-authored by Ridham Desai and Sheela Rathi.
Key Highlights From The Report Titled ‘Why Is India Behaving Differently?’
Key Risks
Portfolio Strategy
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Shares of the calcine and refine maker were locked in a five percent upper circuit at Rs 795.25 after it resumed operations at Goa plant upon completion of the maintenance work, the company said in an exchange notification.
Shares of the Bengaluru-based fertiliser maker rose as much as 17 percent to Rs 64.90 after ministry of environment, forest and climate change gave environmental clearance for project expansion and modernisation of fertliser plant, Mangalore Chemicals said in an exchange filing.
Shares of the Mukesh Ambani-led company rose as much as 1.3 percent to Rs 1,219.30 after a report suggested that Alibaba may invest $5 billion in Reliance Retail to challenge the dominance of Flipkart and Amazon in India’s e-commerce market, The Mint reported citing two unidentified people aware of the matter.
Alibaba's executive chairman Jack Ma met Reliance Industries chairman Mukesh Ambani in July-end in Mumbai to discuss the proposal, the report added.
Infosys CFO MD Ranganath Resigns
Shares of the country's largest infrastructure construction company rose as much as 4.9 percent, the most in over nine months, to Rs 1,300.95 after it informed exchanges that its board will meet on Aug. 23 to discuss share buyback proposal.
Market will reopen after a holiday on Friday, with last week witnessing solid movement following the crisis in Turkey.
The rupee weakened about 0.4 percent to end at 70.16 on Thursday when it touched an all-time low of 70.39, breaching the earlier low of 70.08 reached on Tuesday.
The implied opening from forwards suggests spot may start trading at around 69.7550 on Monday.
In the bond market, securities could open higher after the RBI minutes suggested the central bank may opt for a pause after back-to-back interest-rate hikes to assess its impact on economic activity.
Governor Urjit Patel who led the MPC in increasing rates for the second time since June to curb inflation, said domestic growth indicators were reasonably strong but there is a rising threat from trade wars, which could potentially impact domestic investment and hit India’s exports. The benchmark 10-yr yield rose 4 basis points to end at 7.86 percent on Thursday.
BofAML on Dalmia Bharat
ICICI Direct on Elgi Equipment
JPMorgan on Life Insurance
Deutsche Bank on BHEL
Nomura on AIA Engineering
CLSA on Indian Pharma
BofAML on Infosys
Brokerages On Godrej Consumer
Macquarie
CLSA
(As reported on Aug. 17)
Kerala Flood Relief: How You Can Help Kerala Get Back On Its Feet
Here are some key events coming up this week:
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