Shares of Ramkrishna Forgings gained nearly 4% during the session. Trading volume is twice the 30-day average.
The company announced that it approved a fund raise of Rs 94.3 crore through preferential issue of 46 lakh warrants convertible to equivalent equity share of Rs 2 each at Rs 205 per warrant to promoters/non-promoters.
The company will get Rs 23.6 crore upon allotemen of these warrants, in 2022. The balance Rs 70.7 crore will be received within 18 months from date of allotment of warrants.
Of the five analysts tracking the company, four suggest 'buy' and one recommends 'sell'. The return potential of the stock is 5.5%.
Source: Exchange filing, Bloomberg
Air India is set to induct 5 Boeing wide-body and 25 Airbus narrow-body aircraft to its fleet.
The inductions will begin in December and boost the airline’s fleet by 25%.
The Boeings will be deployed on routes from Indian metro cities to the U.S. These aircraft will result in Air India offering premium economy haul flights for the first time.
Source: Press statement
Adani Ports and Special Economic Zone Ltd., Tech Mahindra Ltd., Infosys Ltd., Axis Bank Ltd., Titan Ltd. were the top gainers. While, Coal India Ltd., Shree Cement Ltd., HDFC Ltd., IndusInd Bank Ltd., and Dr. Reddy’s Laboratories Ltd. were the top losers.
The broader indices outperformed larger peers with MidCap gauge gaining 0.9% and SmallCap measure jumping 1%.
All of the 19 sectoral indices compiled by BSE Ltd. advanced with I.T. index gaining 1.6%.
The market breadth is skewed in the favour of bulls. About 2,215 stocks rose, 1,208 fell and 195 remained unchanged.
The S&P BSE MidCap almost mirrored its larger peers while S&P BSE SmallCap outperformed Sensex and Nifty, gaining 0.67%. All the 19 sectoral indices compiled by BSE Ltd. advanced, with IT index jumping 1.3%.
The market breadth is skewed in the favour of bulls. About 2,107 stocks rose, 715 fell and 162 remained unchanged.
Yield on the 10-year bond rose 1bp to 7.12%, at the open.
Source: Bloomberg
Indian currency depreciated 9 paise to 79.68, at the open.
Source: Bloomberg
Mobility technology company Magna to invest $77 million in Bengaluru-based Yulu.
Magna will have a stake in the company and will hold a seat on Yulu’s board of directors.
The two companies have also established a new battery swapping entity named ‘Yulu Energy’ as part of the deal.
Source: Press release
Oberoi Realty: The company has approved scheme of amalgamation its four subsidiary companies - Oberoi Constructions, Oberoi Mall, Evenstar Hotels and Incline Realty. The rationale for the move was the similar nature of business of the companies and creating a simplified structure with greater management focus.
SpiceJet: The company has appointed Ashish Kumar as its new Chief Financial Officer. Kumar has served as Vice President (Head) - Corporate Finance at Interglobe Enterprises since January 2019. He also served as Chief Financial Officer at Interglobe Hotels from 2014 to 2018.
KEC International/Gujarat Industries Power: Gujarat Industries Power awarded an EPC Contract to KEC International at the cost of Rs 244 crores for Pooling Sub-station 400/33 KV, 1200 MW of Solar / Wind / Hybrid RE Park of 2375 MW capacity at Great Rann of Kutch area, Gujarat.
Bank of Baroda: The bank hiked the Marginal Cost of Funds Based Lending Rate from 5-15 bps across tenors with effect from Sept. 12
Indian Overseas Bank: The lender has hiked MCLR by 10 basis points across tenors, with effect from Sept. 10.
ACC, Ambuja Cements: Billionaire Adani To Join Boards Of Cement Makers, Reports Mint
Apollo Tyres: Reinstated 'Outperform' At Haitong International
HDFC Life: BNP Paribas initiated coverage with 'buy'; price target set at Rs 800.
RIL: To buy SPL, SPTex, Polyester businesses for $200 million.
Tata Steel: Board meet on September 14 to consider debentures issuance
U.S. Dollar Index at 108.86
U.S. 10-year bond yield at 3.59% on Monday
Brent crude down 0.75% to $92.14 per barrel
Nymex crude at $86 per barrel
SGX Nifty up 0.16% to 17,870.5 as of 6:10 a.m
Bitcoin up 0.03% to $21,716.6
Asian shares rose after positive close on Wall Street on Friday, while the euro advanced as investors expected Europe to follow the Federal Reserve with more interest-rate hikes.
Japanese and Australian equities gained about 1% and U.S. futures advanced after the S&P 500 and Nasdaq 100 snapped three-week losing streaks on Friday. Markets in China, Hong Kong and South Korea are closed for holidays Monday.
At 6:30 a.m., the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.16% higher at 17,870.50 points.
West Texas Intermediate crude slipped 0.9% to $86.02 a barrel.