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Adani Group Share Tumult Deepens With Some Diving by Daily Limit
Stock Splits Are Back. So Is the Debate Over Whether They Matter
Chambal Fertilizers & Chemicals Ltd. rose 8.9%. Trading volume was eight times the average for this time of day.
Trading volume was 9.37 million shares, eight times the 20-day average of 1.14 million shares for this time of day.
The stock was the best performer among its peers.
The relative strength index on the stock was above 70, indicating it may be overbought.
Analysts have five buy, no hold, and no sell recommendations on the stock.
The price target of Rs 363.25 represents a 15% increase from the last price
Suprajit Engineering falls as much as 13.7%, most intraday since March 25 last year, after about 5.56 million shares (or 4% equity) changed hands on NSE, according to data compiled by Bloomberg.
Trading volume >84x three-month full-day average
Buyers, sellers not immediately known
Shyam Metalics, Sona Comstar IPO Subscription Status: Day 3
China’s Campaign to Control Commodities Goes Into Overdrive
Sovereign Indian bonds fall on concerns that a rally in crude prices may add to already-elevated domestic price pressures. The rupee is little changed.
Yield on 6.64% 2035 bond up 2bps to 6.66%; that on 10-year bond climbs 1bp to 6.05%
USD/INR steady at 73.2875
Shares of the drug maker gained as much as 2.1%, reversing a 0.8% drop, after it said its joint venture gets USFDA approval for testosterone solution.
The approved ANDA is therapeutically equivalent to the reference listed drug product, Axiron Topical Solution, 30 mg per pump actuation, of Eli Lilly and Company.
Testosterone Topical Solution USP, 30 mg per pump actuation has an estimated market size of $21 million for twelve months ending March 2021 according to IQVIA.
To read more on what top brokerages made of Jubliant's Q4 performance, click here
Adani Share Price Fall: Why NSDL's Website Shows Frozen Accounts Of Three Funds
“Nifty has been trading in an uptrend channel on the intraday chart and currently hovering around the upper band of the same,” Ajit Mishra, vice president research at Religare Broking Ltd. wrote in a note.
India’s best-performing stock funds have one thing in common: they’ve bet on companies that make the chemical substances used in items ranging from lip balms to crop-boosting fertilizers.
Chemicals producers make up at least 14% of the portfolio for three funds that have delivered the biggest returns this year among those with at least $500 million in total assets, according to Bloomberg-compiled data. Those bets have paid off thanks to rising global appetite for specialty chemicals in industries such as automobiles and cosmetics amid a recovery from the pandemic.
To read the full report click here.
Rupee bond traders will assess demand at a 360b rupee auction of treasury bills. The rupee could come under pressure as crude oil continues to rally.
USD/INR little changed at 73.3125 on Tuesday
Implied opening from forwards suggest spot may start trading around 73.30
“New virus cases have moderated and the BoP picture remains positive for the year,” Danny Suwanapruti, EM Asia strategist at Goldman Sachs, writes in a note
“We expect the current account deficit to be more than offset by FDI and equity inflows”
Spot INR appreciation may be limited after recent appreciation as the RBI is likely to remain active
Thinks INR is still an attractive carry-to-vol currency
Maintains USD/INR forecast at 71 for 12-month horizon
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