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Shares of the state-run miner fell as much as 7.7 percent to Rs 99 after a media report suggested that Karnataka may withdraw Donimalai iron ore mine operated by the company.
Meanwhile, speaking to BloombergQuint, N Baijendra Kumar, managing director of NMDC said that they have not received any formal communication from Karnataka government over Donimalai issue.
N Baijendra Kumar said:
Shares of the Kolkata-based non-banking finance company pared gains and was up 2 percent at Rs 35.45 after it reported September quarter earnings.
Key earnings highlights:
Shares of the Chennai-based healthcare services provider fell as much as 15 percent, the most in nearly four months, to Rs 132.05 after CARE Ratings withdrew ratings assigned to its commercial paper.
Shares of the country's second largest wireless telecom operator rose as much as 8 percent, the most in over three weeks, to Rs 329 on the back of heavy volume.
Trading volume was more than triple its 20-day average, data compiled by Bloomberg showed.
Over 1.35 crore shares changed hands on the National Stock Exchange as per the information on exchange's website.
India’s biggest gas utility is considering acquiring all the wind energy assets held by a subsidiary of a troubled shadow bank, people familiar with the matter told Bloomberg.
GAIL India Ltd. is looking to buy 775 megawatts of wind energy assets from IL&FS Energy Development Co., a unit of Infrastructure Leasing & Financial Services Ltd., and has approached investment bankers to advise on a possible deal, the people said, asking not to be named as the talks are private.
Shares of the Pune-based fertiliser manufacturer extended decline and fell as much as 3.62 percent to Rs 175.50.
Deepak Fertilisers informed exchanges that the Income Tax department has been conducting searches at its office since yesterday.
The state-run bank doesn’t need any capital from government, Rajnish Kumar, chairman of the lender, told reporters in New Delhi today.
Source: Bloomberg
Indian equity benchmarks held on to gains led by Reliance Industries, HDFC twins, Bharti Airtel and ITC.
The Sensex rose 0.6 percent or 220 points to 35,480 and the Nifty 50 Index advanced 0.65 percent or 69 points to 10,685.
Twelve of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 3.3 percent surge. On the other hand, S&P BSE Metal Index was the top loser, down 1 percent.
Nifty's 10,700 call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract rose 10 percent to Rs 96.10. As many as 5.90 lakh shares were added to the open interest which stood at over 34.62 lakh shares.
The Reserve Bank of India board will review rules governing the use of its reserves and transfer the surplus to the federal government, people with knowledge of the matter told Bloomberg.
Source: Bloomberg
Another 5-7 percent correction or more will make valuations attractive, Mahesh Nandurkar, India strategist at CLSA told BloombergQuint in an interview.
Key earnings highlights:
Modi Has Asked Tata to Explore Buying Jet Stake, Sources Say
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Raichur-based drugmaker rose as much as 6.91 percent, the most in nearly three months, to Rs 399.75 per share after it received FDA’s tentative approval for a multiple sclerosis drug.
The company has received tentative ANDA approval for Dimethyl Fumarate Delayed Release capsules in strengths of 120 and 240 milligram which is used in the treatment of relapsing forms of multiple sclerosis, Shilpa Medicare said in a press release.
According to IQVIA MAT Q2 2018 data, the U.S. market for Dimethyl Fumarate DR Capsules is approximately $3.46 billion, the release added.
Shares of the Mumbai-based private sector lender declined for third day in a row after former State Bank of India Chairman Om Prakash Bhatt stepped down from the panel set up to search for a new chief executive officer for Yes Bank Ltd.
The stock declined as much as 4.88 percent to Rs 195.80 and in the last three trading sessions it has corrected 13 percent.
Indian equity benchmarks nudged higher led by TCS, HDFC twins and ITC.
The S&P BSE Sensex rose 0.28 percent or 106 points to 35,374 and the NSE Nifty 50 Index advanced 0.28 percent or 30 points to 10,646.
Sixteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Information Technology Index's 0.9 percent gain. On the flipside, S&P BSE Oil & Gas Index was the top loser, down 1.15 percent.
Mid- and small-cap shares were flat as the S&P BSE MidCap and S&P BSE SmallCap Indices rose a little over one percent.
The rupee is headed for a second week of gains in three on renewed inflows into the nation's stocks and bonds.
The rupee rose 0.5 percent to end at 71.98 per dollar on Thursday, with implied opening from the forwards suggesting the spot may start trading around 71.90. Although, data late on Thursday showed India's trade deficit widening on higher oil imports, a recent slide in crude, the country's biggest import item, is likely to have a positive impact on sentiment.
Most economists expect the deficit to narrow in coming months as the impact of falling oil prices play out.
In the bond market, the RBI will conduct Rs 30,000 crore of three-day variable rate reverse repo auction and Rs 23,500 crore of 14-day term repo auctions. The benchmark 10-year bond yield rose 2 bps to 7.76 percent on Thursday, although for the week, yields are still lower, helped by a subdued inflationary outlook.
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