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About 11.2 lakh shares of Petronet LNG changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
The Delhi High Court on Tuesday refused to allow Jet Airways (India) Ltd.’s founder Naresh Goyal to go abroad and sought response from the central government on his plea challenging a lookout circular issued against him.
Goyal may deposit Rs 18,000 crore guarantee if he wants to travel abroad now, said Justice Suresh Kait, adding that no interim relief can be granted to him at this stage.
Read more here.
Source: PTI
Meghmani Organics Ltd. projects its revenue at 12-15 percent for the current financial year, its Chief Financial Officer GS Chahal said.
“The company will be able to sustain margins at current levels in 2019-20,” Chahal told BloombergQuint in an interaction.
Shares of the pigments and agrochemical maker rose nearly 3 percent intraday to Rs 62.80.
Shares of Maruti Suzuki extended fall for the third consecutive trading session, their longest losing streak in nearly a month.
The stock fell nearly 2 percent intraday to trade at over a two-year low at Rs 5,915.
The Relative Strength Index was below 30, indicating that the stock may be overbought, according to Bloomberg data. Of the shares traded, 44 percent were at the ask price and 36 percent were at the bid.
Glenmark Pharma
NLC India
Sun Pharmaceutical Industries
Bharat Electronics
Indian equity benchmarks struggled to recover as the gains in Sun Pharmaceutical Industries Ltd. and Bajaj Finance Ltd. were offset by losses in Titan Company Ltd.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 38,709 and 11,547 respectively as of 3 p.m.
The market breadth was slightly tilted in favour of sellers. About 881 stocks declined and 856 shares advanced on National Stock Exchange.
Shares of Mindtree fell for the fifth consecutive trading session, their longest losing streak in nearly two years.
The information technology company pared losses to trade 0.41 percent down at Rs 766.10. The stock fell as much as 4.43 percent intraday. The scrip traded at 15 times its estimated earnings per share for the coming year.
Last week, the company said its Chief Executive Officer Rostow Ravanan, Chairman Krishnakumar Natarajan and Vice Chairman Parthasarathy NS resigned.
Shares of Dilip Buildcon flcuated between gains and losses to trade 0.5 percent lower at Rs 427.95.
The company received a highway project completion certificate for four laning of Lucknow- Sultanpur Section of NH-56, according to its statement on the exchanges.
“The infrastructure company is entitled for maximum bonus of Rs. 37.9 crore in lieu of earlier completion of the said project,” the statement added.
Shares of Max Financial Services rose as much as 4 percent, the most in over a month, to Rs 416.45.
The Economic Times, yesterday reported that Axis may have to fork out more to hike the company’s stake, quoting people aware of the regulator’s directive.
Max Financial, however, news said that the news is ‘incorrect and baseless’. “Max Financial wishes to clarify that it has not approached the Insurance Regulator IRDAI with any proposal for Axis Bank purchasing 10 percent stake in its life insurance subsidiary, Max Life Insurance Company Ltd.,” it said in a statement on the exchanges.
Shares of Tata Consultancy Services fell as much as 3.3 percent to Rs 2,104.55.
The country’s largest firm by market capitalisation is set to announce its quarterly results for the three months ended June.
Here’s are the consensus forecast by the analysts tracked by Bloomberg:
Q1 Preview (QoQ)
The Nifty has violated its medium-term moving average 50-day EMA, indicating a short-term weakness in the index, according to Reliance Securities’ research report. “Due to second consecutive plunge in the index and another bearish formation on the daily chart, its major technical indicators turned in favour of bears, coincides with our short-term view,” the report added.
The research firm sees support in the range of 11,400-11,300. “In case of pullback, it’s medium-term and short-term moving averages will call the upmove, which are placed in the range of 11,770-11,800,” it said.
Commenting on today’s trade, the brokerage company said, “The Nifty’s support is placed at around 11,425 and then at 11,300 levels, while resistance is observed at 11,650 and then at 11,770 levels.
Zee Media Corporation’s Managing Director Ashok Venkatramani has decided to step down, the media firm said in a stock exchange filing.
Shares of the company fell as much as 5.5 percent to Rs 12.05 after the announcement.
The stock had declined 53 percent in the past 12 months compared to a 7.6 percent gain in the Sensex, according to Bloomberg data.
Sintex Industries said in an exchange notification that it has defaulted on payment of interests on Rs 250-crore bonds.
“Present liquidity crisis is temporary and will not affect its going concern, the company said.
Indian equity benchmarks traded volatile after the gains in Sun Pharmaceutical Industries Ltd. and Bajaj Finance Ltd. were offset by losses in Titan Company Ltd.
The S&P BSE Sensex traded 61 points lower at 38,663 as of 1 p.m. and the NSE Nifty 50 fell 0.23 percent to 11,531. The broader market index represented by the NSE Nifty 500 Index fell 0.19 percent.
Asian stocks retreated in muted trading Tuesday after their U.S. counterparts slipped overnight.
Catch all the global markets update here.
Source: Bloomberg
India’s top portfolio managers suffered the worst loss in six months in June as shares of auto and consumer goods makers fell.
This after the benchmark indices scaled lifetime highs on June 3 after Prime Minister Narendra Modi returned to power with an even bigger majority. But since then India’s stock market has remained volatile as investors expected the government to announce measures to boost the economy in the budget.
Click here to read the full story.
Catch all the BQ Blue Exclusives here.
Shares of Bajaj Finance rose as much as 5.6 percent, the most since May 17, to Rs 3,603. The stock ended 8.2 percent lower yesterday.
Customer franchise as of June 30, 2019 stood at approximately 36.9 million compared to 28.3 million a year ago period, according to its stock exchange filings.
Key highlights:
Indian equity benchmark continued to trade lower, extending their fall for the third consecutive trading session.
The S&P BSE Sensex fell nearly 200 points to 38,525 as of 11 a.m. and the NSE Nifty 50 traded around, 11,500, down 0.5 percent. The broader market index represented by the NSE Nifty 500 Index fell as much as 0.4 percent.
Citi research expects earnings of the 150-odd companies tracked by it to grow 3 percent year-on-year. It expects the earnings of S&P BSE Sensex and NSE Nifty 50 Index constituents to grow 24 percent and 6 percent year-on-year.
However, barring the financial sector, it sees a 13 percent decline in corporate earnings. The three struggling sectors may post a decline of around 20 percent over last year, Citi said in its note.
Read the full story and watch the full interaction here.
Nifty’s 11,600 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract fell 44.09 percent to Rs 23.40. Over 11 lakh shares were added to the open interest which stood at over 24.02 lakh shares.
Indian equity benchmarks remained under pressure, extending their fall for the third consecutive trading session.
The S&P BSE Sensex fell over 200 points to 38,510 as of 10 a.m. and the NSE Nifty 50 traded below, 11,500, down 0.6 percent. The broader market index represented by the NSE Nifty 500 Index fell as much as 0.6 percent.
Titan was in focus as the stock fell over 11 percent after predicting a muted first quarter as Asia’s third-largest economy faces a slowdown.
Shares of the property developer declined for the third session and fell as much 3.8 percent to Rs 532.25.
Brokerage and research firm BofAML downgraded its recommendation on the stock to 'Neutral' from 'Buy'. The price target was fixed at Rs 627, indicating a potential upside of 13 percent from previous close.
Click here to read today’s analysts’ recommendation to their clients
Budget 2019: State-Run Oil & Gas Firms Burn Rs 41,000-Crore Investor Wealth In Two Days
Shares of HDFC extended declines for the third consecutive trading session, their longest losing streak in nearly a month. The stock fell as much as 2.2 percent to Rs 2,209.30.
The housing finance company has planned to sell bonds worth Rs 5,000 crore on July 10.
The stock traded at 31 times its estimated earnings per share for the coming year, according to Bloomberg data. The stock declined 2.6 percent in the past five days and rose 0.5 percent in the past 30 days.
Indian equity benchmarks are set for there are set to open subdued.
The S& BSE Sensex rose 93 points to 38,835 during the pre-market and the NSE Nifty 50 traded below 11,550, down 0.1 percent.
In the currency market, the Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.06 percent against the greenback.
Here's a lineup of all the major corporate meetings today.
— BloombergQuint (@BloombergQuint) July 9, 2019
Read: https://t.co/WcS1WogaxD pic.twitter.com/HRgLXUxz9d
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