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Benchmark indices gained for a fourth session to close at record highs led by gains in IT and energy stocks, as well as positive cues from global markets. However, gains were capped by profit booking in telecom and pharma stocks. BSE Sensex hit a fresh record high of 34488.03 intraday before closing 90.40 points up at 34,443.19. NSE Nifty also touched an all time high of 10,659.15 before settling 13.40 points up at 10,637. Among the sectoral indices, realty, energy and consumer durables were leading the gains, while telecom, utilities, pharma and power ended lower. Coal India, Yes Bank, Wipro and ITC were top gainers, whereas Bharti Airtel, Adani Ports and Hero MotoCorp shares fell. Meanwhile, foreign portfolio investors bought shares worth a net Rs692.83 crore, while domestic institutional investors sold shares worth Rs206.30 crore on Monday, according to provisional exchange data.
BSE Sensex closed higher by 90.40 points, or 0.26%, to 34,443.19, while the Nifty 50 rose 13.40 points, or 0.13%, to close at 10,637.
BSE Sensex traded higher by 120.28 points, or 0.35%, to 34,473.07, while the Nifty 50 rose 20.95 points, or 0.20%, to close at 10,644.55.
Newgen Software Technologies Ltd will launch its initial public offer on January 16 and has fixed a price band of Rs240-245 per share. The IPO, which aims to raise about Rs 424 crore, comprises fresh issue of up to Rs 950 million by the company and an offer for sale by the selling shareholders. The offer for sale consists of up to 1,34,53,932 shares.
Europe’s main stock markets rose at the start of trading, with London’s benchmark FTSE 100 index climbing 0.4% to 7,727.15 points following gains across much of Asia. In the eurozone, Frankfurt’s DAX 30 advanced 0.1% to 13,383.26 points and the Paris CAC 40 also rose 0.1% to 5,491.91.
The Indian rupee was trading weaker against US dollar, tracking losses in its Asian peers. At 2pm, the home currency was trading at 63.58 a dollar, down 0.11% from its Monday’s close of 63.50. The rupee opened at 63.48 a dollar, and touched a high and a low of 63.43 and 63.59, respectively.
South Indian Bank Ltd reported a 3.25% marginal rise in net profit for its December quarter as it provided less provisions for bad loans. Net profit for the quarter was Rs115 crore against Rs111.38 crore a year ago. In the September quarter, its profit plummeted over 96% due to a 120% jump in its provisions.
Dewan Housing Finance Corp. Ltd said its board of directors approved fund raising worth up to $2 billion in one or more tranches. Shares traded 1.02% up at Rs627.15.
BSE Sensex traded lower by 6.84 points, or 0.02%, to 34,345.95, while the Nifty 50 edged down 13.25 points, or 0.12%, to close at 10,610.35.
Vikas WSP Ltd said it has received a trial export order for Rs1.04 crore of newly developed guar gum thermogel-25 for ultra- fermented and sausage roll applications from MNC customers. Shares rose 1.86% to Rs17.
Ola and ICICI Bank have signed a memorandum of understanding to bring forth a range of integrated offers to their customers and driver-partner. (Reuters)
Reliance Infrastructure Ltd said it has moved its application to Maharashtra Electricity Regulatory Commission for assignment of transmission and distribution licenses for Mumbai power business to the company’s unit Reliance Electric Generation and Supply Ltd, which will be acquired by Adani Transmission Ltd. Reliance Infra shares traded 1.50% lower at Rs 573.
Larsen & Toubro Ltd said it has commissioned and handed over a 360 MW Bheramara combined cycle power plant development project to North West Power Generation Co. Ltd, a unit of Bangladesh Power Development Board, on 5 January. Shares traded 0.50% lower at Rs1,331.35
Dhanuka Agritech Ltd said it has permanently closed its manufacturing activities at one of its plant situated at Daulatabad Road, Gurgaon, due to unavoidable circumstances. Shares traded 0.82% higher at Rs796.25.
BSE Sensex traded higher by 86.29 points, or 0.25%, to 34,439.08, while the Nifty 50 rose 10.65 points, or 0.10%, to close at 10,634.25.
Tejas Networks Ltd said it has completed the installation of GPON equipments in over 40,000 gram panchayats in for Bharatnet Phase-1 project. The company’s shares jumped 7.54% to Rs458.05.
South Indian Bank fell 0.3% to Rs33.75 ahead of its December quarter earnings due later on Tuesday. According to Bloomberg analysts estimate, the bank may report a net profit of Rs104 crore.
SJVN Ltd fell 2% to Rs37.15 after the company said it will buyback its shares at Rs38.75 a share.
BSE Sensex traded higher by 62.78 points, or 0.18%, to 34,415.57, while the Nifty 50 rose 5.95 points, or 0.06%, to close at 10,629.55.
Electrosteel Steels Ltd rose 5% to Rs6.75 after The Economic Times reported that Anil Agarwal-owned Vedanta Ltd is said to have submitted the highest bid for the bankrupt Electrosteel Steels. Other bidders include Tata Group and an overseas fund backed by Edelweiss. Vedanta may have bid about Rs4,500 crore, topping Tata’s offer of Rs3,500 crore, the report says.
Tata Motors Ltd rose 2% to Rs441.60 after Jaguar Land Rover sales rose 7% to a record 621,109 vehicles in 2017.
SREI Infrastructure Finance Ltd rose 3% to Rs106.10 after Mint reported a consortium of JSW Infrastructure and Srei Infrastructure Finance is set to acquire the upcoming Sterling Port in Dahej from its lenders.
Coal India Ltd rose 5.2% to Rs302 after the company raised prices of the fuel used to fire power plants for the first time in about a year-and-a-half, as the world’s biggest coal producer shores up efforts to pay for higher salaries.
Max India Ltd rose 2.4% to Rs124.35 after Mint reported that Life Healthcare Group Holdings Ltd, the second-largest private hospital owner in South Africa, is considering a sale of its stake in India’s Max Healthcare Ltd.
NMDC Ltd fell 4% to Rs155.50 after the government said it will sell 1.5% stake in NMDC through an offer for sale at a floor price of Rs153.50 per share.
The Indian rupee was trading marginally higher against US dollar in the opening trade on Tuesday, tracking gains in the local equity market. The rupee opened at 63.48 a dollar, and was trading at 63.47 a dollar, up 0.03% from its Monday’s close of 63.50. The 10-year bond yield was at 7.342% compared to its previous close of 7.344%.
BSE Sensex traded higher by 74.17 points, or 0.22%, to 34,426.96, while the Nifty 50 rose 14.90 points, or 0.14%, to close at 10,638.50.
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