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Indian equity benchmarks extended gains on the back of a broad-based buying interest as investors welcomed a quick appointment of a central bank governor who’s expected to shift away from a hawkish view.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Delhi-based state-run construction company rose as much as 6 percent to Rs 52.90 after it won construction order worth Rs 172 crore from Ministry of Skill Development and Entrepreneurship, NBCC said in an exchange notification.
The RBI's efforts to address bad loan problems have the potential to improve banking-sector health over the long term and its commitment to inflation targeting has supported a more stable macroeconomic environment in recent years. Increased government influence on the central bank could undermine this progress, Fitch Ratings said.
The Mumbai-based cement maker's board approved investing an additional Rs 960 crore to add annual clinker capacity of 1.4 million tonnes and cement grinding capacity of 1.8 million tonnes and captive power plant at Marwar Mundwa, Ambuja Cement said in an exchange filing.
Indian equity benchmarks held on to gains paced by Tata Motors, Hero MotoCorp, Yes Bank and Bajaj Auto.
The S&P BSE Sensex rose 0.96 percent or 340 points to 35,491 and the NSE Nifty 50 Index climbed 1 percent or 103 points to 10,652.
All the 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Auto Index's 3 percent gain.
Mid- and small-cap shares were outperforming larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indices rose nearly 2 percent each.
Shares of the McDonald's restaurant chain operator rose as much as 3.45 percent to Rs 364 after it opened its first an outlet in Thiruvananthpuram.
Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes.
— Shaktikanta Das (@DasShaktikanta) December 12, 2018
India's got areas that need improvement. You have no capital market here. Yeah, you have a stock market, but you have no bond market. That puts the entire onus on banks. That makes it tough for mid-size and small companies to find capital, Henry Kravis, co-founder of KKR said in a press conference.
Key highlights of the conversation:
Shares of the Bengaluru-based airport developer rose as much as 6.44 percent, the most since Sept. 24, to Rs 15.70.
Trading volume was nearly three times its 20-day average, according to data compiled by Bloomberg.
Over 1.14 crore shares changed hands on the National Stock Exchange, according to information on NSE's website.
Nifty's 10,500 put option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract plunged 43 percent to Rs 67.20. Over 7.52 lakh shares were added to the open interest which stood at over 42.18 lakh shares.
Shares of the film production and distribution company rose as much as 4.91 percent to Rs 273.50.
UFO Moviez’s non-promoter investors have agreed to sell their shares in Qube Digital Cinema Pvt. Ltd. to UFO Moviez and ICICI Ventures at Rs 264.88 per share as against an earlier decided price of Rs 302.65, according to an exchange filing.
Buyers and sellers were not immediately known
Source: Bloomberg
Dr. Reddy's Will Have to Wait to Sell Suboxone Copy, Court Says
Shares of Aavas Financers rose as much as 3.5 percent to Rs 813.20.
Brokerage and research firm Citi initiated coverage on the stock with a 'Buy' rating and a price target of Rs 930, implying a potential upside of 18 percent from the last regular trade. This is the first analyst coverage on the stock as per Bloomberg data.
Here's what Citi had to say:
A quick look at the corporate insider trades reported on Tuesday.
— BloombergQuint (@BloombergQuint) December 12, 2018
Read: https://t.co/jrrcVGCxmn pic.twitter.com/9EDOJXTRZB
CLSA
Credit Suisse
UBS
Morgan Stanley
Citi on Aavas Financiers
Nomura on Sun Pharma
CLSA on Aditya Birla Fashion
Citi on Persistent Systems
London Metal Exchange
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