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The heads of several Indian banks are meeting in Mumbai today to discuss plans for how to resolve delinquent loans to about ten stressed power producers, according to a person familiar with the matter.
The banks are discussing a so-called scheme of asset management and debt change structure for the delinquent power producers, the person said, asking not to be identified because the details are private.
Source: Bloomberg
Indian equity benchmarks extended declines mirroring losses in European markets amid deep cuts in U.S. equity futures.
The Sensex fell 1.44 percent or 520 points to 35,734 and the Nifty 50 Index dropped 1.6 percent or 175 points to 10,735.
All 11 sector gauges compiled by National Stock Exchange were trading lower led by the Nifty Metal Index's 3.2 percent drop.
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Shares of the country's second largest airline extended decline and fell as much as 4.70 percent to Rs 267.60 after ICRA downgraded company's credit rating.
Jet Airways in an exchange filing said:
Indian equity benchmarks extended losses led by declines in HDFC twins, ITC and Mahindra & Mahindra.
The Sensex fell 0.9 percent or 319 points to 35,935 and the Nifty 50 Index declined 1 percent or 104 points to 10,805.
All but two sector gauges compiled by BSE were trading lower led by the S&P BSE Metal and Auto Indices' over 2 percent fall. On the flipside, S&P BSE IT Index came off day's high and was up 0.3 percent.
The mid- and small-cap shares also came under selling pressure as the S&P BSE MidCap Index fell 0.66 percent and the S&P BSE SmallCap Index dropped 0.4 percent.
Shares of the Mumbai-based construction and engineering services provider held on to gains and rose 1.52 percent to Rs 251.
The company received order worth Rs 97.69 crore for construction of sub-structure and super structure of proposed research building of Institute of Chemical Technology at Matunga in Mumbai, Capacite Infraprojects said in an exchange filing.
Nifty's 11,000 call option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract dropped 12.5 percent to Rs 134.90. Over 1.57 lakh shares were added to the open interest which stood at over 27.69 lakh shares.
Indian equity benchmarks continue to trade on a weak note paced by losses in Eicher Motors, M&M, Hero MotoCorp and Vedanta.
The S&P BSE Sensex fell 0.3 percent or 108 points to 36,148 and the NSE Nifty 50 Index dropped 0.37 percent or 40 points to 10,870.
Sixteen of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Metal Index's 2 percent drop. S&P BSE Auto index also dropped 1.8 percent tracking weak December sales posted by a slew of auto makers. On the flipside, the S&P BSE IT Index was top gainer, up 1 percent.
The mid- and small-cap shares were mixed as the S&P BSE MidCap Index fell 0.3 percent while the S&P BSE SmallCap Index was little changed.
The market breadth was neutral as 1,033 shares were advancing while 1,076 were declining on the BSE.
Shares of the Anil Agarwal-led mining conglomerate fell as much as 3.71 percent, the most since Dec. 6, to Rs 194.60 after Tamil Nadu government moved Supreme Court for closure of its copper plant in Tuticorin.
The National Green Tribunal had on Dec. 17 said the company could restart its copper smelter that accounts for nearly half of India’s output.
Shares of the Ludhiana-based drug maker rose as much as 6.79 percent, the most since Dec. 11, to Rs 176.95.
Credit rating agency Care Ratings has improved rating on the company's banking facilities, IOL Chemicals & Pharmaceuticals said in an exchange notification.
Rating on company's long-term bank facility of Rs 429.33 crore was revised from CARE BBB- to CARE BBB+ with stable outlook.
While rating on company's short-term bank facility of Rs 150 crore was revised from CARE A3 to CARE A2.
Shares of the Delhi-based fertiliser maker rose as much as 5.77 percent, the most in over a month, to Rs 155.75.
The company has started commercial production of urea from its Kota plant in Rajasthan, Chambal Fertilisers said in an exchange filing.
The plant has capacity to manufacture 1.34 million metric tonnes of urea per annum.
Hero MotoCorp Ltd.'s sales declined 4 percent on a yearly basis to 4.53 lakh units in December, according to its stock exchange notification.
Shares of the country’s largest two-wheeler maker fell as much as 2.4 percent to Rs 3,051.35.
Nifty’s 11,000 call option contract was among the most active option contracts on National Stock Exchange.
Premium on the contract fell 9.84 percent to Rs 139.90. Over 1.45 lakh shares were added to the open interest which stood at over 27.58 lakh shares.
Source: Nikkei Asian Review
Shares of Ashok Leyland fell as much as 2.2 percent to Rs 100.20. The truck and bus maker’s monthly sales fell the most in nearly two years in December.
The company’s sales in December declined 20 percent on a yearly basis to 15,493 units, according to its stock exchange notification.
Key sales highlights (YoY)
Bajaj Auto Ltd. sold 3.46 lakh units last month, an increase of 18 percent from December 2017, according to its stock exchange filing.
Key sales highlights (YoY)
Shares of Bajaj Auto fluctuated between gains and losses to trade at 2,725.60 apiece.
Here's quick look at the corporate insider trades reported on Tuesday.
— BloombergQuint (@BloombergQuint) January 2, 2019
Read: https://t.co/2oOECzLIkK pic.twitter.com/LFJSPGpblS
Deutsche Bank Research on L&T
Emkay on Dynamatic Technologies
CLSA on Metals
Motilal Oswal on Cement
Motilal Oswal on Auto Sales
Eicher Motors:
Tata Motors:
VST Tillers Tractors:
Catch all the auto sales updates here.
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