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BASF India
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Sintex Industries defaulted in payment of interest, repayment of principal amount on non-convertible debenture, according to its statement on the exchanges.
The company has defaulted on the seven-year 10.7 percent bond maturing in 2021to the tune of Rs 89 crore, the statement added.
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Indian equity benchmarks are set to halt three-day gaining streak, their longest in over two weeks.
The S&P BSE Sensex fell over 220 points to 39,729as of 3 p.m. and the NSE Nifty 50 traded below 11,897, down 0.56 percent. The mid-cap index represented by the NSE Nifty MidCap 100 Index underperformed benchmark indices after it fell 0.8 percent.
The Supreme Court today said that the plea against Indiabulls Housing Finance will not to be heard before July. The plea sought action against Indiabulls Housing for allegedly misappropriating public money.
Here are the top picks from the mid-cap space by Geojit Financial Services’ Gaurang Shah:
Indian equity benchmarks continued to trade near day’s low, led by the declines in the private banks.
The S&P BSE Sensex traded 216 points lower at 39,735 as of 1 p.m. and the NSE Nifty 50 hovered around 11,900.
Pharma shares was under focus as the NSE Nifty Pharma Index fell over 1 percent, led by the declines in Biocon Ltd. and Aurobindo Pharma Ltd.
In the currency market, the Indian rupee traded at day’s high against the U.S. dollar.
Shares of BASF India extended gains for the fourth consecutive trading session, their longest gaining streak in over two weeks. The stock rose as much as 6.3 percent to Rs 1,472.95.
Trading volume was more than nine times its 20-day average, Bloomberg data showed. The stock traded at stock traded at 31 times its estimated earnings per share for the coming year.
Stocks in Asia declined as U.S. and European futures slid amid signs of fatigue in the recent revival in risk appetite.
Source: Bloomberg
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Indian equity benchmarks continued to trade near day’s low.
The S&P BSE Sensex traded 245 points lower at 39,704 as of noon and the NSE Nifty 50 traded below 11,900.
Among the 11 sectoral gauges compiled by NSE, the NSE Nifty Realty Index was the to sectoral loser, while the NSE Nifty Metal Index was the only sectoral gainer.
Indiabulls Housing Finance, Jammu & Kashmir Bank and Sadbhav Infratructure Project were among the stock in focus as they traded over 6 percent lower.
Meanwhile, shares of DHFL extended gains after the company said that it has cleared all its overdue payments on NCDs at Rs 961.9 crore due on June 6.
Mahindra & Mahindra plans to name Haigreve Khaitan and Shikha Sharma as the independent directors of the company, subject to shareholders approval, according to its stock exchange filing.
Shares of the tractor maker traded 0.6 percent lower at Rs 632 after the announcement.
Shares of Yes Bank fell as much as 3.9 percent to Rs 134.05. The stock was the worst performer on Sensex and second worst performer on Nifty.
On Tuesday, Mukesh Sabharwal resigned from post of non-executive director with effect from June 10. On Monday, the bank had disclosed that Ajai Kumar, who was a non-executive, non-independent director on the board, stepped down.
The resignation of two directors comes after a reshuffle of the bank’s top management with founder chief executive Rana Kapoor stepping down after being denied an extension by the Reserve Bank of India. Kapoor, who continues to hold 10 percent in the bank, was replaced by Ravneet Gill as CEO in March.
Shares of Indiabulls Housing Finance extended decline for the second consecutive trading session and fell as much as 7 percent to Rs 627.10, the lowest in nearly four months.
On Monday, Indiabulls Housing refuted the allegation of siphoning Rs 98,000-crore, terming it as “bizarre” and made by a “racket of blackmailers”, in an exchange filing. The original complaint (of Rs 55,000-crore alleged fraud) by the blackmailers was dated May 6, 2019, the statement said. After that the company filed a first information report on June 4.
The stock was the worst performer on Nifty. Trading volume was 3.6 times its 30-day average, Bloomberg data showed. The scrip traded at 5.5 times its estimated forward earnings per share compared to a 10.1 times for the two-year historical average.
Nifty’s 12,00 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 tomorrow fell 66.54 percent to Rs 8.70. Over 13.59 lakh shares were added to the open interest which stood at over 33.19 lakh shares.
Indian equity benchmarks extended declines from the opening trade.
The S&P BSE Sensex fell over 200 points and the NSE Nifty 50 traded near 11,900.
The declines in the benchmarks indices were led by the losses in HDFC Ltd., ICICI Bank Ltd. and Tata Consultancy Services Ltd.
Reliance Capital and Reliance Home Finance were in focus during today’s trade as the stocks fell after Price Waterhouse & Co Chartered Accountants LLP resigned as one of the statutory auditors.
Besides, DHFL extended gains after the company said that it has paid out Rs 962 crore in overdue interest payments on its non-convertible debentures.
Indian equity benchmarks are set for a mixed start. The S&P BSE Sensex reclaimed 40,000 market in the pre-market open while the NSE Nifty 50 was above 11,960.
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