Indian equity benchmarks climbed led by gains in energy producers and metal makers. Both the S&P BSE Sensex Index and NSE Nifty 50 Index rose as much as 0.4 percent to 31,819 and 9,948 respectively.
Here Are The Stock Moving The Market This Morning
Reliance Capital: Jumps After Demerger
Shares of the asset management company gained as much as 12.30 percent, the most over 29 months, to Rs 771.95 after getting demerged from its home finance arm.
The company demerged from its realty lending arm Reliance Housing Finance, which will list on September 6, according to ICICI Securities. The brokerage expects the housing finance arm to list at Rs 115-120 per share, in two to three weeks of the demerger.
IRB Infrastructure: Begins Toll Collection
Shares of the infrastructure developer rose as much as 1.9 percent to Rs 216.90 after it started toll collection and also construction on Udaipur tollway from September 3, according to an exchange notification.
The stock has gained four times during five trading sessions. So far this year, the stock has returned 14 percent, against 19 percent advance in the Sensex.
Bank of Baroda: LIC Sells Stake
Shares of the private sector lender rose as much as 1 percent to Rs 138.15, after the state-owned insurance company LIC sold 2 percent stake in the bank, according to its exchange notification.
The stock fell 14 percent in the past month, compared to 1.8 percent decline in the Sensex Index. Bank of Baroda trades at 17.4 times trailing 12-month earnings per share.
Karnataka Bank: Cuts One-Year MCLR
Shares of the Mangalore-based lender rose as much as 1 percent to Rs 152.50 after the bank reduced one-year MCLR by 5 basis point to 8.85 percent per annum, according to its exchange notification.
The stock rose for the fourth time in five trading sessions. It has returned a negative 10 percent so far this year and a loss of 17 percent in the past 12-months.
Stocks Reacting To Earnings
FIEM Industries (Q1FY18, YoY)
- Stock swung between gains and losses and traded at Rs 934.95
- Profit fell 13 percent to Rs Rs 10 crore
- Revenue rose 19.7 percent to Rs 325.5 crore
- EBITDA unchanged at Rs 31 crore
- Margin at 10.7 percent from 12.7 percent
Gandhi Special Tubes (Q1FY18, YoY)
- Stock rose as much as 10.6 percent to Rs 349
- Profit went up 1.1 percent to Rs 8.8 crore
- Revenue grew 6.9 percent to Rs 31 crore
- EBITDA up 11.1 percent to Rs 10 crore
- Margins at 35.7 percent from 34.6 percent
Manali Petro (Q1FY18, YoY)
- Stock fell as much as 8.5 percent, the most in nearly a month to Rs 32.90
- Profit declined 81.8 percent to Rs 2 crore
- Revenue down 4.7 percent to Rs 163 crore
- EBITDA fell 62 percent to Rs 6 crore
- Margins at 4.1 percent from 10.2 percent
Stocks Reacting To Bulk Deals
Career Point
- Stock rose as much as 6.5 percent to Rs 6.5 percent to Rs 129.55
- Fidelity Asian Values sold 11.8 lakh shares (3.1 percent) at Rs 125.75 each
Religare Enterprises
- Stock snapped seven-day decline and rose as much as 1.3 percent to Rs 43.95
- HDFC sold 11.35 lakh shares (0.6 percent) at Rs 44.71 each
Apex Frozen Foods
- Stock rose as much as 5 percent to Rs 222.70
- BNP Paribas Arbitrage sold 2 lakh shares (2.3 percent) at Rs 211.95 each
- GIRIK Wealth bought 3.1 lakh shares (3.5 percent) at Rs 211.91 each
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
