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CreditAccess Grameen Ltd. on Tuesday said it aims to meet 40 percent of its fund requirements via borrowings from the international market in 2019-20.
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The panel set up to review the Reserve Bank of India’s economic capital framework estimated the transferable surplus, or the amount the central bank could potentially pass on to the government, is close to Rs 8,000 crore, a person familiar with the matter told BloombergQuint on condition of anonymity.
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State-run Bharat Heavy Electricals Ltd. named Navin Shinghal as chairman and managing director for a period of five years.
Shares of BHEL traded 1.2 percent lower after the announcement. The stock fell 2.1 percent intraday.
Adani Power
Garden Reach Shipbuilders & Engineers
Crompton Greaves Consumer Electricals
Adani Green Energy
Indian equity benchmarks are set to end higher for the second consecutive trading session.
The S&P BSE Sensex rose nearly 75 points to 39,763 as of 3 p.m. and the SNE Nifty 50 traded near 11,900, up 0.22 percent. The broader market index represented by the NSE Nifty 500 Index rose 0.17 percent.
About 10 lakh shares in ITC changed hands in a block dal, Bloomberg data showed. Buyers and sellers were not known immediately.
It is better to wait till the budget is over to take a long-term bet in the markets.
That’s according to Narnolia Securities’ Director and Chief Investment Officer Shailendra Kumar. “The markets are not going to trade with much gains in the near-term at present,” Kumar told BloombergQuint in an interaction.
Shares of DLF extended gains for the sixth consecutive trading session, their longest gaining streak in over two months.
The stock rose as much as 1.4 percent to Rs 193.45 in today’s trade.
The stock traded at 21 times its estimated earnings per share for the coming year, according to Bloomberg data. The stock rose 8.7 percent in the past five days and gained 0.2 percent in the past 30 days.
Shares of Havells fluctuated between gains and losses to trade 0.29 percent higher at Rs 789.30.
Brokerage and research firm HSBC hiked its price target to Rs 750 from Rs 775, implying a potential return of 8 percent from the last regular trade. This is the second-highest price target so far among the analysts tracked by Bloomberg.
Here’s what HSBC had to say on the Havell’s stock:
About 19.9 lakh shares of Crompton Greaves Consumer Electricals changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
The Supreme Court upholds TDSAT's order freeing Reliance Jio from Reliance Communications' past dues.
The top court said that the government's plea against an order by Telecom Disputes Settlement and Appellate Tribunal does not have any merit.
Shares of the debt-ridden telecom operator pared gains and rose 3.7 percent to Rs 1.40 after the development.
About 20 lakh shares of Tata Power changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Indian equity benchmarks pared losses, led by the gains in Reliance Industries Ltd. and HDFC Ltd.
The S&P BSE Sensex and the NSE Nifty 50 traded with minor gains at 39,688 and 11,871 respectively as of 1:20 p.m. The broader market index represented by the NSE Nifty 500 Index also traded with minor gains.
Stocks were mixed in Asia Tuesday, and Treasuries little changed, as enthusiasm over the U.S.-China trade truce proved short-lived amid a disappointing set of economic data.
Source: Bloomberg
Shares of the private lender declined nearly 7.4 percent to Rs 101.15 apiece.
Mumbai-based Radius Developers defaulted on scheduled interest payments on a Rs 1,200 crore loan from the Bank, Economic Times reported citing unidentified sources. The bank’s spokesperson declined to comment on the report, it added.
The stock traded at 6.1 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of Strides Pharma fell as much as 6.6 percent, the most in over a month, to Rs 384.80, their lowest level in 11 months.
The U.S FDA issued a warning letter to Puducherry facility, according to its statement on the exchanges.
“Puducherry site currently produces 6 ANDAs which will not get impacted by the current development. However, the 10 ANDAs pending approval from the site will get deferred till the site is reclassified,” the statement said.
“Strides is committed to the highest standards of quality and compliance and will work collaboratively with the FDA to resolve all issues addressed in the warning letter,” it added.
Strides Pharma traded at 15 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian equity benchmarks continued to trade lower.
The S&P BSE Sensex fell 130 points or 032 percent to 39,559 and the NSE Nifty 50 fell 0.28 percent to 11,833. The broader market index represented by the NSE Nifty 500 index fell 0.23 percent.
Shares of Gujarat Gas fell as much as 1.4 percent to Rs 169.30.
The city gas distributor lowers gas prices for industrial and commercial use by Rs 2.5 per standard cubic metre, according to its stock exchange notification.
The stock traded at 20 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of Adani Green Energy rose as much as 14.6 percent, the most since May 20, to Rs 52.15.
The stock has extended gains for the sixth consecutive trading session and is poised for its longest gaining streak since November 2018.
Trading volume was more than 17 times its 20-day average, Bloomberg data showed. The Relative Strength Index on the stock was above 70, indicating that it might be overbought.
About 12.5 lakh shares of Yes Bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Indian equity benchmarks traded lower after fluctuating between gains and losses in the opening trade.
The S&P BSE Sensex fell 0.42 percent or 168 points to 39,519 as of 11 a.m. and the NSE Nifty 50 traded near 11,800, down 0.4 percent. The broader market index represented by the NSE Nifty 500 Index fell 0.3 percent.
About 10 lakh shares of Motherson Sumi changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of JSW Energy rose as much as 2.1 percent to Rs 70.
JSW Energy said in a media statement that the proposed acquisition of thermal plant in Chhattisgarh from Jindal Steel and Power stands terminated as the conditions for the transactions had not been completed within the Long Stop Date. In May 2016, the company had agreed to acquire the 1,000 MW plant.
The stock traded at 12 times its estimated earnings per share for the cominf year, according to Bloomberg data.
Nifty’s 11,900 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the weekly contract which is set to expire Thursday fell 41.7 percent to Rs 27.60. Over 10 lakh shares were added to the open interest which stood at over 33 lakh shares.
Indian equity benchmarks continued to fluctuate between gains and losses as the gains in Reliance Industries Ltd. and HDFC Ltd. countered losses in the private banks.
The S&P BSE Sensex and the NSE Nifty 50 continued to trade little changed at 39,665 and 11,858 respectively. The broader market index represented by the NSE Nifty 500 Index fell 0.1 percent.
Tata Motors
Hero MotoCorp
Eicher Motors
TVS Motor
SML Isuzu
Shares of Cox & Kings extended fall for the sixth consecutive trading session, their longest losing streak in over a week. The stock hit a lower circuit of 5 percent to record hit a record low at Rs 33.25.
The company defaulted a payment of Rs 50 crore of Commercial Papers. The company repaid two investors Rs 15 crore out of Rs 65 crore, which was due on June 28 and stated that cash flow mis-match led to the default and remaining Rs 50 crore will be paid through internal accruals and asset monetisation.
Cox & Kings had earlier defaulted in payment of commercial papers worth Rs 150 crore on June 27.
CARE Ratings revised the company’s ratings to ‘CARE D’ from ‘CARE A+’ for CPs worth Rs 375 crore, while Brickwork Ratings Revised Ratings to ‘BWR D’ from ‘BWR A1+’ for CPs worth Rs 2,060 crore.
The management said in a media statement that the defaults have been triggered due to temporary mismatch in liquidity and the measures are being taken to address the situation.
The Relative Strength Index as eight, indicating that the stock may be oversold. The scrip traded at 6.1 times its estimated forward earnings per share compared to a 9.1 times for the two-year historical average, according to Bloomberg data.
Shares of the credit rating firm fell for the third consecutive trading session and declined as much as 5.1 percent to Rs 3,000.
ICRA sent its Managing Director and Chief Executive Officer Naresh Takkar on leave with immediate effect, according to its exchange filing. Takkar will be placed on leave until completion of examination of concerns raised in anonymous representation forwarded to the company by the market regulator, the filing added. The rating agency has appointed Vipul Agarwal (current CFO) as interim chief operating officer.
Trading volume was 3,921 times its 20-day average, according to Bloomberg data. The stock traded at 26 times its estimated earnings per share for the coming year.
Shares of Sadbhav Infrastructure Project rose as much as 9.9 percent to Rs 78. The stock has gained during Three trading sessions out of four.
The company’s board approved the sale of entire stake in nine SPV comprising of seven toll road infra assets and two annuity infra assets to lndlnfravit Trust at a deal valued at Rs 6,611.2 crore, according to its stock exchange filing. Sadbhav infra will see a de-consolidation of net debt of Rs 4,060 crore.
Trading volume was more than 20 times its 20 times its 20-day average, Bloomberg data showed. Of the shares traded, 37 percent were at the ask price and 46 percent were at the bid.
Indian equity benchmarks are set for a mixed start.
The S&P BSE Sensex rose 30 points to 39,717 during the pre-market trade and the NSE Nifty 50 traded little changed 11,860.
In the currency market, the Indian rupee opened higher against the U.S. dollar. The home currency depreciated as much as 0.1 percent to 69.01 against the greenback.
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Catch all the live auto sales updates here.
Heavy rains are pummelling Mumbai since Sunday night. According to officials, the financial capital has received 540 mm rain in two days, the highest over a two-day period in a decade. (Catch all the live updates on Mumbai rains here)
The state government has declared a public holiday today in Mumbai, Maharashtra Minister Ashish Shelar said in a tweet.
The Bombay Stock Exchange, however, will be functioning normally today, BSE CEO Ashish Chauhan said in a separate tweet.
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