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Sensex Gains As RBI Holds Rates; Bank Nifty Rises To Record

Sensex Gains As RBI Holds Rates; Bank Nifty Rises To Record
Source: Bloomberg
9 years ago
Sensex, Nifty end higher as RBI keeps rates unchanged. 

  • S&P BSE Information Technology Index down 3.2%, the most since November 9, 2016
  • Index snaps four sessions of gains
  • Hexaware Technologies (-5.7%)
  • Wipro (-3.5%)
  • Tata Consultancy Services (-3.3%)
  • Tech Mahindra (-2.7%)

  • Shares rose as much as 8.1% to Rs 266, the most since October 5, 2015
  • Unichem Labs' Gaziabad unit gets establishment inspection report from the U.S. FDA
  • Analyst consensus price target is 35% above current price: Bloomberg data

  • Gujarat Pipavav: 39 lakh shares change hands in two blocks
  • Reliance Communications: 10 lakh shares change hands in a block
  • Cyient: 16 lakh shares change hands in a block
  • * Buyers & sellers were not immediately known

  • Indian rupee fell 8 paise to 64.51 against the U.S. dollar, extending drop to a second session
  • The partially convertible rupee fell 7 paise against the American currency to end at 64.43 on Tuesday
  • In the bonds market, yield on the newly-issued 6.79% bonds due May 2027 steady at 6.64%; it has dropped 11 basis points over the past three weeks

  • Shares of the pharma supplier rose as much as 8.5% to Rs 113, the most since May 25
  • Vivimed Labs said no observations received from the U.S. FDA following an inspection of its API plant in Spain
  • Volume at 7.5 times its 30-day average

Given the heavy debt load and the uncertainty regarding the cash flow-generating capabilities of the residual businesses post demerger and asset sales, Moody’s believes the capital structure of the remaining business will remain weak.
Moody’s Investors Services Statement

  • 2:30 pm: 2nd bi-monthly monetary policy statement for 2017-18
  • 2:45 pm: RBI Governor Urjit Patel & deputy governors to hold a press conference
  • 5 pm: RBI Governor & deputy governors to hold teleconference with analysts

  • Adani Power: Approves sale of Mundra power business to subsidiary.
  • Reliance Communications: Fitch, Moody’s downgraded telecom operator again.
  • Sical Logistics: Wins order from Mahanadi coal fields.
  • Vivimed Labs: U.S. FDA inspection in Spain plant results in no observation for Vivimed Labs.
  • Aegis Logistics: Sells stake in step-down subsidiary.
  • For a complete list of stocks, click HERE

  • Bajaj Finance: Raised to buy at Goldman
  • Bajaj Finserv: Raised to neutral at Goldman
  • Bank of Baroda: Raised to neutral at Goldman
  • HDFC: Raised to neutral at Goldman
  • IIFL Holdings: Rated new outperform at Credit Suisse
  • Jet Airways: Raised to buy at ICICIdirect, price target Rs 580
  • Wipro: Cut to underperform vs hold at Jefferies
  • LIC Housing: Cut to sell at Goldman
  • Reliance Communications: Cut to RD from CCC by Fitch; cut to Ca by Moody’s, outlook negative

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