Shares of the luggage manufacturing company fell as much as 7.03%, the lowest since Jul. 28, 2022, before paring loss to trade 2.57% lower at 1:32 p.m. This compares to a 0.96% decline in the benchmark NSE Nifty 50.
The stock has declined 9.67% year-to-date. The total traded volume stood at 11.7 times its 30-day average. The relative strength index was at 44.98
All the 12 analyst tracking the company maintains a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price target implies a potential upside of 37.7%.
Nifty 50 falls 0.93% intraday.
Sensex falls 0.97% intraday.
Nifty Bank slips 1.19% intraday.
Nifty falls below 19,400 intraday, for the first time since July 13.
Sensex below 65,200 intraday, for the first time since July 7.
Nifty Bank falls below 44,500 intraday, for the first time since June 28.
ICICI Bank, RIL, TCS drag both indices.
Realty and metal top sectoral losers on NSE.
S&P BSE Realty and S&P BSE Metal top sectoral losers on BSE.
Market breadth skewed in the favour of sellers by 52.94%.
Temasek to invest Rs 1,200 crore in Mahindra Electric Automobile.
Temasek to invest in compulsorily convertible preference shares in one or more tranches.
Temasek investment at a valuation of Rs 80,580 crore.
Temasek to have a shareholding in Mahindra Electric in range of 1.49-2.97%.
Source: Exchange filing
Gets Rs 250 crore deal for building and maintaining data centres for a public sector entity.
Source: Exchange filing
Kotak Alternate Asset Managers to combine assets across private equity, real estate, private credit, strategic situations, data centres, infrastructure and investment advisory.
To create combined asset base of $18 billion across these businesses.
Source: Kotak Alternate Asset Managers statement
The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 0.23%, whereas S&P BSE SmallCap Index was 0.35% higher.
Twelve the 20 sectors compiled by BSE declined while eight sectors advanced. S&P BSE Healthcare rose the most, whereas S&P BSE Realty and S&P BSE Metal fell the most.
The market breadth was skewed in the favour of the buyers. About 1,893 stocks rose, 1,460 declined, while 169 remained unchanged on the BSE.
Partners with Tiger Fintech to launch co-branded credit card.
Alert: Tiger Fintech is a Bajaj Capital Group company.
Source: Exchange filing
Gets final U.S. FDA approval for Indomethacin suppository.
Drug granted Competitive Generic Therapy designation by U.S. FDA.
Alert: Indomethacin suppository is used to treat severe rheumatoid arthritis.
Source: Exchange filing
The broader market indices opened lower; the S&P BSE MidCap Index was down 0.26%, whereas S&P BSE SmallCap Index was 0.01% lower.
Eighteen the 19 sectors compiled by BSE declined while S&P BSE Healthcare advanced. S&P BSE Realty and S&P BSE Metal fell the most.
The market breadth was skewed in the favour of the buyers. About 1,136 stocks rose, 936 declined, while 100 remained unchanged on the BSE.
Source: BSE
At pre-open, the S&P BSE Sensex Index was down 232 points or 0.35% at 65,550.61 while the NSE Nifty 50 Index was 63 points or 0.32% lower at 19,463.75.
Source: Bloomberg
The yield on the 10-year bond opened 3 bps higher at 7.18% on Thursday.
It closed at 7.15% on Wednesday.
Source: Bloomberg
The local currency weakened 12 paise to open at Rs 82.71 against the U.S dollar on Thursday.
It closed at 82.59 on Wednesday.
Source: Bloomberg
Acquires Sanghi Industries at an enterprise value of Rs 5,000 crore.
To acquire 56.74% shares of SIL from its existing promoter group, Ravi Sanghi & family.
To make open offer for 26% equity or 6.71 crore shares of Sanghi Industries.
Sanghi Industries open offer at Rs 114.22/share.
Sanghi Industries acquisition will be fully funded through internal accruals.
With this acquisition, Ambuja Cements’ capacity will increase to 73.6 MTPA.
Ambuja to increase cement capacity at Sanghipuram to 15 MTPA in the next two years.
Aims to make Sanghi Industries lowest cost producer of clinker in the country.
Goal of 140 MTPA capacity by 2028 will be achieved ahead of time.
Exchange Filing
To sell non-core surplus land, office premises for Rs 103.75 crore.
Defaults on payment of interest to NCD holders on Aug 1, 2023.
It didn't receive nod for deferment of interest payment from NCD holders.
Total financial indebtedness of the company as on March 31 stood at Rs 1,530.69 crore.
Source: Exchange Filing
Appoints Sushant Kumar Mishra as CEO-Logistics.
CEO-Logistics Vikram Jaisinghani resigns effective from Aug. 5, 2023.
Source: Exchange Filing
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