Scan to Download
Shares of the Chennai-based pharma company rose 5 percent to Rs 9.73 after the resolution professional placed the resolution plan from lngen Capital Group LLC before committee of creditors (CoC).
The resolution proposale received affirmative vote of 78.64 percent of the CoC by value in its favour, Orchid Pharma said in an exchange filing.
Shares of the Bengaluru-based liquor maker rose as much as 2.98 percent to Rs 694.15 after it acquired digital payments company Hip Bar for Rs 27 crore.
Click here for more stock market statistics
Shares of the Mumbai-based carmaker extended losses to the second day and fell as much as 2.85 percent to Rs 281.15 after BNP Paribas downgraded the stock to ‘reduce’ from ‘hold’ and lowered its target price to Rs 240 from Rs 305.
Click here to see the complete options chain
Prime Minister Narendra Modi while addressing annual Asian Infrastructure Investment Bank said that India has emerged as a bright spot in the global economy which is driving the global growth.
Key highlights from PM Modis' speech at AIIB conferance:
Shares of the Delhi-based oil explorer rose as much as 1.6 percent to Rs 211.75 after it made second hydrocarbon discovery in the on land KG Basin well Thanelanka-l in Andhra Pradesh.
Buyers and sellers were not immediately known
Source: Bloomberg
Chakri Lokapriya, managing director at TCG Asset Management told BloombergQuint in an interview that he likes to add ICICI Bank to his portfolio in tranches.
Key highlights of the conversation:
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Hyderabad-based shrimp exporter rose as much as 18.78 percent, the most in nearly three weeks, to Rs 619 on the back of heavy volumes. Trading volume was 6.8 times its 20-day average.
The stock in today’s session went ex-bonus in ratio of one share for every two shares held and it also went ex-split with its face value sub-divided from Rs 2 to Re 1.
Meanwhile, speaking to BloombergQuint Alluri Indra Kumar of Avanti Feeds expects China to become major market for Indian shrimp producers.
Key highlights of the conversation:
Shares of the Ahmedabad-based stainless-steel pipe maker rose as much as 2.9 percent to Rs 965.90 after it received order worth Rs 125.51 crore.
The company has received order for supply of welded carbon steel pipes valued at Rs 125.51 crore which will be completed by March-April 2019, Ratnamani Metals said in an exchange filing.
Shares of the Noida-based internet based service provider rose as much as 10 percent, the most in nearly seven months, to Rs 1,287 after it increased stake in an online insurance startup PolicyBazaar.
In an interview to BloombergQuint, Chintan Thakkar, CFO at Info Edge said the company would be holding about 13.5 percent equity after the investment in PolicyBazaar.
Shares of the Mumbai-based airline rose as much as 1.57 percent to Rs 384 after it purchased 75 of Boeing Co.’s 737 Max aircraft for about $8.8 billion as it looks to continue rapid expansion in the world’s fastest-growing major aviation market.
The latest purchase brings the airline’s backlog for the narrowbody plane to 225, Jet said in a statement Monday.
Shares of the Mumbai-based private sector lender fell as much as 1.54 percent to Rs 285.25 after the market regulator favoured adjudication proceedings against ICICI Bank and its CEO Chanda Kochhar for alleged violation of listing disclosure norms, news agency Press Trust of India reported citing an unnamed official.
The report added that ICICI Bank may face a penalty of up to Rs 25 crore under the relevant SEBI regulations for such lapses, while the fine for Kochhar may go up to Rs 1 crore, besides other penal actions.
The Indian rupee could come under pressure as global investors turn risk averse amid continued worries about an escalating exchange of trade and investment restrictions, triggered by the Trump administration.
Asian stocks extended a decline which could see portfolio outflows from Indian markets and which in turn could weigh on the rupee, traders said. The local currency ended weaker at 68.1250 per dollar on Monday and implied forwards suggest it could start trading marginally weaker at 68.14 per dollar.
Meanwhile, government bonds are seen trading in a range with hopes of additional bond purchases by the Indian central bank keeping yields under check.
The 10-year bond yield rose one basis points to 7.82 percent on Monday with any pullback likely to be shallow in the 7.75 percent-8 percent range, as the impact of the positive catalysts like RBI minutes and OMO fade, according to a DBS note.
India is to sell four bonds for Rs 12,000 crore on June 29 while seven states will sell bonds worth Rs 9,800 crore later in the day.
Jefferies on Shoppers Stop
Deutsche Bank on Axis Bank
Motilal Oswal on Phoenix Mills
CLSA on UltraTech Cement
CLSA on Phoenix Mills
Morgan Stanley on Info Edge
(As reported on June 25)
Tube Investments of India
Varroc Engineering IPO: Here’s All You Need To Know
IOC cuts petrol, diesel prices for the 6th and 4th consecutive day respectively. ⛽️https://t.co/VgwIolDenr pic.twitter.com/Z1wYaxwBEJ
— BloombergQuint (@BloombergQuint) June 26, 2018
FIFA WC 2018: How Can Argentina Still Make It to Round of 16
China begins to question whether it’s ready for a #TradeWarhttps://t.co/738sfHCxo7 pic.twitter.com/EsICTo9ZOs
— BloombergQuint (@BloombergQuint) June 26, 2018
The market is pricing in a U.S. victory in a trade war against China, and investors are voting with their feet in agreement.https://t.co/q7cPBsu5OJ pic.twitter.com/VNvnRFCYA7
— BloombergQuint (@BloombergQuint) June 25, 2018
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
