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Shares of the telecom operator rose as much as 4.86 percent, the most in over a month, to Rs 421.70.
The Sunil Mittal-led company’s board approved the issuance of foreign currency bond of $1 billion or equivalent in one or more tranches, according to its stock exchange notification. The board also approved privately placing up to Rs 10,000 crore of bonds in tranches, the filing added.
Bharti Airtel trades at 102 times its estimated forward earnings per share for the coming year. The stock declined 20 percent so far this year.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the country's largest infrastructure construction company were trading 0.9 percent higher at Rs 1,301 after its joint venture won an order worth Rs 442 crore for nuclear steam generator forgings, the company said in an exchange filing.
Earlier in the day, L&T had informed exchanges that its construction arm won orders worth Rs 2,597 crore.
Shares of the Mumbai-based drug maker fell as much as 3.2 percent to Rs 540.85 after it said that its unit in Tarapur MIDC got affected by explosion in an adjoining unit. The affected plant contributed about 16 percent to the company's total revenue as of Dec. 31.
Shares of the Pune-based renewable power producer rose as much as 3.6 percent to Rs 11.40 after it won 75 MW wind power project from a leading independent power producer through Maharashtra State Electricity Distribution Company Limited (MSEDCL) bid.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of companies related to shrimp production like Avanti Feeds, Apex Frozen Foods and Waterbase fell up to 5 percent after the U.S.' Department of Commerce hiked anti-dumping duty on Indian shrimp exports to 2.34 percent from earlier 0.84 percent.
Shares of the Mumbai-based infrastructure construction company rose as much as 3.7 percent to Rs 56 after it received orders worth Rs 220.75 crore from Pimpri Chinchwad Municipal Corporation (PCMC) under the Pradhan Mantri Awas Yojna (PMAY).
Shares of the Gurugram-based telecom infrastructure company rose 2.1 percent to Rs 340.15 after Morgan Stanley in a note said Bharti Infratel valuations are cheap and stock maybe getting close to buy territory.
It added that Bharti Infratel’s under-performance led by impact of tenancy deletions.
Shares of the country's largest cigarette maker rose as much as 3 percent, the most in over a month, to Rs 267.05 after the government kept cess on cigarettes unchanged at its GST Council meeting on Saturday.
Shares of other cigarette makers like VST Industries and Godfrey Philips also rose over 2 percent each.
Indian bonds are seen steady ahead of consumer inflation data due at 5:30 p.m. this evening. Inflation probably rose to 4.7 percent in February from a year a Bloomberg Survey showed, slowing from 5.07 percent in January.
That will be a huge relief to bond traders who have endured the worst sell off in decades amid tightening liquidity and a worse than expected budget deficit.
Industrial production data is also due later in the day. Benchmark bonds advanced last week for the first time in four weeks on the back of improving banking liquidity and the Indian government’s pitch for a rating upgrade. The 10-year yield fell 7 basis point to 7.67 percent.
Meanwhile, the rupee is seen to be opening with a firm bias, with forwards indicating it will open at 64.924 per dollar, up from 65.17 on Friday. Emerging market currencies and riskier assets have done rather well on the back of a good U.S. Jobs report.
Here's a quick look at corporate insider trades reported on Friday.https://t.co/A5IomoRxvJ pic.twitter.com/6b9ZHQaXFF
— BloombergQuint (@BloombergQuint) March 12, 2018
Sandhar Technologies is looking to raise as much as Rs 512.5 crore from primary markets.https://t.co/A5IomoRxvJ pic.twitter.com/Zdpc0PsimX
— BloombergQuint (@BloombergQuint) March 12, 2018
Morgan Stanley On Telecom
Jefferies On Oil & Gas
Motilal Oswal On SH Kelkar
KSK Energy Ventures
Jet Airways, Air France-KLM, Delta consortium to bid for Air India.https://t.co/rzVNQpIlHc pic.twitter.com/10L0s5vnI2
— BloombergQuint (@BloombergQuint) March 11, 2018
The current-account deficit is making a comeback as a reason to sell some Asian currencies.https://t.co/OuS5wDZMpN pic.twitter.com/06phj22c4O
— BloombergQuint (@BloombergQuint) March 12, 2018
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