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Share of the travel tour operator was locked in the lower circuit for the second day in a row and third time this week after it declined 10 percent intraday to hit a record low of Rs 40.85.
Also, Brickworks downgraded the rating on non-convertible debentures worth Rs 50 crore to AA- from AA, according to its exchange notification yesterday.
The stock declined 77 percent in the past 12 months compared with a 12 percent gain in the Sensex. Shares of the company currently trade at 2.7 times its estimated earnings per share for the coming year, Bloomberg data showed.
The Nifty is witnessing a resistance at 11,900 and the support levels at 11,720, according to Viratech Software’s Director Rahul Mohindar.
“The markets are doing decently well as the Nifty has moved out of 11,850 today and they look very much intact in the medium-to-long term,” Mohindar told BloombergQuint in an interaction.
Kiocl
Coffee Day Enterprises
Sunteck Realty
Shriram City Union
Indian equity benchmark NSE Nifty 50 is set to clock its worst F&O series in six months.
The 50-share index has declined over 0.5 percent so far in June series, the worst since December 2018 series when it declined 0.73 percent.
Today, the benchmark indices are set to end higher for the third consecutive trading session. The S&P BSE Sensex and the 50-stock gauge traded little changed at 39,572 and 11,880
Axis bank was in focus as the stock fluctuated between gains and losses to trade 1.2 percent higher at Rs 797.90 after Bloomberg reported that the lender is considering raising at least $1.3 billion through a share sale to institutional investors.
The Godrej family, one of the largest land holders in Mumbai, has hired advisors and law firms to split its land holdings to make way for real estate development, according to a report by Business Standard.
Godrej & Boyce Chairman Jamshyd Godrej has hired JM Financial’s investment banker Nimesh Kampani, and lawyer Zia Mody from AXB Partners, to help in the reorganisation, the report said.
Read the full story here
The large private banks are in sweet spot they are well capitalised, has the ability to raise funds and troubles on the asset quality side are behind, according to HDFC Life Chief Investment Officer Prasun Gajri.
“Even if credit growth is not very high, most of the large private lenders would be able to do well in terms of growth of credit because NBFC are clearly losing market share and PSU banks still continuing to lose market share,” Gajri told BloombergQuint in an interaction, adding that the ability to make decent margins on incremental lending is also fairly strong.
Shares of the galvanized PVC manufacturer rose as much as 13.2 percent, the most in over a month, to Rs 63.50.
Trading volume was more than 12 times its 20-day average, Bloomberg data showed. Of the shares traded, 9 percent were at the ask price and 88 percent were at the bid.
Shares of KIOCL extended gains for the third consecutive trading session and rose as much as 16.5 percent, the most since March 11, to Rs 141.15.
The company inked two pacts for the sale of pellets in European market, according to its stock exchange filing.
Trading volume was almost six times its 20-day average, Bloomberg data showed. The stock rose 10 percent in the past five days and fell 3.7 percent in the past 30 days.
HRBV Client Solutions Pvt. Ltd. expects the markets to trade rangebound in the near-term, its Founder and Chief Executive TS Harihar said.
“The Nifty is expected to trade around 100-150 points from the current levels in the near-term,” Harihar told BloombergQuint in an interaction, adding that consumptions, housing and PSU banks are the sectors expecting a lot form the budget and could get lot from the budget.
Indian equity benchmarks are trading at day’s high.
The S&P BSE Sensex rose as much as 204 points to 39,796.13 ad the NSE Nifty 50 rose as much as 0.5 percent to 11,906.65. The mid-cap index represented by the NSE Nifty MidCap 100 rose 0.44 percent.
Shriram City Union was in focus in the past hour as the stock rose as much as 14.9 percent, the most since November 2013, to Rs 1,550.
About 1.05 crore shares of IDFC changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the company fell 0.85 percent to Rs 35.05 after the block deal. The stock had risen 2.9 percent intraday.
Shares of Shriram City Union rose as much as 14.9 percent, the most since November 2013, to Rs 1,550.
Trading volume was almost 12 times its 20-day average, Bloomberg data showed. The stock rose 12 percent in the past five days and gained 1.4 percent in the past 30 days.
Shriram City Union traded at 11 times its estimated earnings per share for the coming year, according to Bloomberg data.
The National Stock Exchange will exclude 34 securities from the futures and options trading from Friday as these are found to be ineligible based on its enhanced selection criteria for the derivatives segment.
India’s largest bourse in a circular on April 22 had said no new contracts linked to these stocks will be issued but existing April, May and June contracts will be available for trading till their respective expiry. Today is the last trading day in the derivatives segment.
Click here to see the list of 34 stocks that will exit F&O segment from July series.
L&T’s unit— L&T Hydrocarbon Engineering, has won twin orders from Oil & Natural Gas Corporation, according to its stock exchange filing.
The orders are valued at around Rs 2,500-5,000 crore, according to the construction company’s classification.
Shares of L&T gained 0.85 percent to Rs 1,564 after the announcement.
Indian equity benchmarks continued to trade higher.
The S&P BSE Sensex rose 0.41 percent to 39,750.15 as of 11 a.m. and the NSE Nifty 50 hovered around 11,890, up 0.36 percent. The small-cap index represented by the NSE Nifty SmallCap 100 rose 0.5 percent outperforming the Nifty 50.
Ten out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 2.07 percent. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.1 percent.
Shares of the private lender fluctuated between gains and losses to trade 0.4 percent higher at Rs 2,477.95, after gaining for three consecutive trading sessions.
The bank plans to sell shares in HDB Financial Services Ltd. before March 31 in a deal that may raise about Rs 10,000 crore, Bloomberg reported quoting people familiar with the matter.
The stock traded at 25 times its estimated earnings per share for the coming year, according to Bloomberg data.
I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!
— Donald J. Trump (@realDonaldTrump) June 27, 2019
Shares of the information technology company fell for the fifth consecutive trading session, their longest losing streak in nearly two years. The stock fell as much as 2.5 percent, the most in over three months, to Rs 912.40.
The company’s Chief Executive Officer Rostow Ravanan is likely to resign in the coming weeks with infrastructure major L&T becoming a majority shareholder in the company, PTI reported quoting unnamed sources.
The Relative Strength Index on the stock was below 30, indicating that the stock may be oversold.
Nifty’s 11,800 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract fell 64.29 percent to Rs 5.25. Over 17.33 lakh shares were added to the open interest which stood at over 51.20 lakh shares.
Indian equity benchmarks extended opening gains.
The S&P BSE Sensex rose as much as 125.50 points to 39,717.58 and the NSE Nifty 50 rose as much as 0.33 percent to 11,886.75. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.37 percent.
Coffee Day Enterprises was in focus as the stock rose as much as 11.98 percent, the most since June 11, 2018, to Rs 249.95 on Bombay Stock Exchange.
About 14.7 lakh shares of Bharti Airtel changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the telecom operator rose as much as 1.1 percent to Rs 349.50 after the block deal.
Shares of Aster DM Healthcare rose as much as 7.2 percent to Rs 128.80.
This after True North Fund sold 3.74 crore shares or 7.4 percent equity in the company at Rs 120 each.
Following are the details on who bought shares in the company:
Trading volume was 2,529 times its 20-day average, Bloomberg data showed. The stock declined 19.3 percent so far this year and fell 21.8 percent in the past 12 months.
Shares of Motherson Sumi fluctuated between gains and losses to trade a little changed at Rs 119.90.
About 45.4 shares of the company changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately.
Motherson Sumi traded at 18 times its estimated earnings pre share for the coming year, according to Bloomberg data.
Shares of Coffee Day Enterprises rose as much as 11.98 percent, the most since June 11, 2018, to Rs 249.95 on Bombay Stock Exchange.
Beverage maker Coca-Cola has entered exclusive talks to pick up significant stake in the country’s largest coffee chain Café Coffee Day (CCD), Economic Times reported quoting two officials in knowledge of the development.
"The news is absolutely speculative in nature and as a matter of company policy, we do not have any comments to offer at this point in time," Coca Cola India said in a statement.
Trading volume was more than 350 times its 20-day average, Bloomberg data showed. Of the shares traded, 37 percent were at the ask price and 34 percent were at the bid.
Here's quick look at the corporate insider trades reported on Wednesday.
— BloombergQuint (@BloombergQuint) June 27, 2019
Read: https://t.co/Kn13fJOO2c pic.twitter.com/2iBHYOniQv
Indian equity benchmarks were trading higher in the pre-market open
The S&P BSE Sensex was 95 points higher at 39,677 and the NSE Nifty 50 was trading at 11,860.
The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.2 percent to 69.29 against the greenback.
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Aster DM Healthcare
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