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Shares of the Mumbai-based private sector lender fell as much as 3.4 percent, the most since February, to Rs 1,799.25 on heavy volumes. Trading volume was 1.2 times its 20-day average.
Large cap stocks are likely to perform better in near future, Ravi Shankar, MD - investment banking, JPMorgan India told BloombergQuint on the sidelines of JPMorgan India Investor Summit.
Key highlights of conversation:
Indian equity benchmarks extended decline weighed down by weakness in Reliance Industries, HDFC twins and ITC.
The Sensex fell 0.36 percent or 131 points to 37,157 and the NSE Nifty 50 Index declined 0.41 percent or 44 points to 11,233.
Shares of the Mumbai-based power producer fell as much as 8.46 percent, the most since February, to Rs 391.65 on heavy volumes.
Trading volume was 1.4 times its 20-day average.
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Law Minister Ravi Shankar Prasad briefed media persons in New Delhi on the decisions taken by the Cabinet Committee on Economic Affairs (CCEA).
Shares of the Ghaziabad-based mattress maker rose as much as 5.4 percent to Rs 1,750 after Axis Securities initiated 'buy' call on the stock for target price of Rs 2,039.
Axis Securities in a note said:
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Bengaluru-based pig iron products maker fell as much as 20 percent to Rs 183.20 after its board approved buyback of 1.26 crore shares (1.98 percent equity) at Rs 170 apiece, which was 26 percent lower than yesterday's closing price of Rs 229.
Shares of the Bengaluru-based drugmaker fell as much as 3.55 percent to Rs 480.50.
Strides Pharma's formulations facility in Bengaluru underwent pre- approval product inspection by the U.S. FDA for which it was issued Form 483 with three observations, the company said in an exchange filing.
Strides added that the observations are not material in nature and they have already responded to the U.S. FDA.
Shares of the Gurugram-based engineering services provider rose as much as 5.75 percent to Rs 261.90 after it won an additional turnkey contract worth Rs 436 crore from the Indian Railways.
RITES had been executing a project of Indian Railways for setting up of wagon workshop at Dalmianagar for which the initial contract cost was Rs 89 crore. The enhanced scope and revision in estimates has resulted in additional contract value of Rs. 436 crore, the company said in an exchange notification.
Shares of the Mumbai-based commodities exchange operator rose as much as 4 percent to Rs 814.90 after SEBI said it has taken steps to open commodities derivative market for foreign investors.
SEBI Lowers Expenses Paid By Mutual Fund Investors, Bars Upfront Commissions
Shares of the country's largest pharmaceutical company rose as much as 1.9 percent to Rs 654.65.
The drugmaker announced that it has received the European Commission’s approval for anti-body Ilumetri by Almirall. The rollout of this product will start in Europe in the next few weeks and will be used to treat moderate-severe chronic plaque Psoriasis.
The stock was the best performer on Sensex and Nifty. The scrip traded at 31 times estimated forward earnings per share, compared to 24.6 times for the two-year historical average, Bloomberg data showed.
Major corporate meetings in the next few days.
— BloombergQuint (@BloombergQuint) September 19, 2018
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