The Indian stock market opened flat to positive but slipped into the negative zone in early trade on weak Asian cues.
At 2:35 PM, the S&P BSE Sensex is trading at 27,904 up 122 points, while NSE Nifty is trading at 8,601 up 28 points.
The BSE Mid-cap Index is trading up 0.14% at 13,018 whereas BSE Small-cap Index is trading up 0.10% at 12,499.
Tata Motors, Hero MotoCorp, RIL, L&T, Bharti Airtel and HDFC are among the gainers, whereas Wipro, TCS, Lupin, HDFC Bank and Asian Paints are losing sheen on BSE.
Some buying activity is seen in capital goods, industrial, auto, energy,metal, oil and gas and consumer durables sectors, while telecom, IT, pharma, power, realty, banking, metal and teck sectors are showing weakness on BSE.
The INDIA VIX is down 1.71% at 13.3375. Out of 1,855 stocks traded on the NSE, 914 declined, 655 advanced and 286 remained unchanged today.
A total of 55 stocks registered a fresh 52-week high in trades today, while 26 stocks touched a new 52-week low on the NSE.
The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.
DLF is trading marginally down ahead of Q1 numbers today.
Tata Motors soared 4.4% to Rs.525.75 on BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015.
Aurobindo Pharma is trading down 0.35%. The pharma company and Intas are among the contenders for the UK and Irish portfolio of Teva, as per media reports.
Procter & Gamble Hygiene and Health Care slipped 2.4%. The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.
Coal India is trading down 0.93%. The company will invest around Rs.7,765 crore towards capital expenditure in the ongoing fiscal and Rs.5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power.
Shree Renuka Sugars Ltd is currently trading at Rs. 16.95, up by Rs. 0.95 or 5.94% from its previous closing of Rs. 16 on the BSE. The company has informed BSE that under the Judicial Protection Law (11.101/2005 Recuperacao Judicial), the Assembly of Creditors of Renuka do Brasil S/A (RdB) has approved the Reorganization Plan presented by Renuka do Brasil S/A on August 26, 2016.
ACC Ltd is currently trading at Rs. 1628.4, down by Rs. 10.05 or 0.61% from its previous closing of Rs. 1638.45 on the BSE. The cement major will is poised to increase its manufacturing capacity in India to 35 million tonnes per annum from 30 mtpa (beginning of the year) with the addition of a couple of more plants, as per media reports.
JSW Steel Ltd is currently trading at Rs. 1759.55, up by Rs. 5.95 or 0.34% from its previous closing of Rs. 1753.6 on the BSE.The company has committed an investment of Rs.50,000 crore in Odisha for a 10-million-tonne steel project.
Pratibha Industries Ltd is currently trading at Rs. 21.45, down by Rs. 1.1 or 4.88% from its previous closing of Rs. 22.55 on the BSE. The company has reported a consolidated net loss of Rs.30.15 crore for the quarter ended June 30 as compared to net profit of Rs.16.45 crore in the similar quarter of 2015-16.
Abbott India Ltd is currently trading at Rs. 4767.5, up by Rs. 36.05 or 0.76% from its previous closing of Rs. 4731.45 on the BSE. The pharma company will be in focus as it posted a 10% rise in standalone net profit to Rs.74.01 crore for quarter ended June 30 as compared to net profit of Rs.67.31 crore for the similar quarter last year.
Vakrangee gained 1.4%. The company PAT stood at Rs.120.5 crore in Q1FY2016-17 as against Rs.86.1 crore for the corresponding quarter last year, registering a growth of 40%.
Claris Lifesciences dropped 4%. The company has received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.
Reliance Communications inched up 0.37%. Reliance Communications and Aircel Ltd are expected to sign an agreement for merger of their businesses by the first week of September, as per media reports.
GMR Infrastructure climbed 3% to Rs.13.49. GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa.
Bharat Forge slipped 1% to Rs.853. The company has acquired 64,000 shares of its wholly owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for USD 4,544,000 (around Rs 30 crore).
Alankit jumped 4% to Rs.145.35 on BSE. Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.
The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.
Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.
Investors are still trying to make sense and understand the implications of US Federal Reserve Chair Janet Yellen's speech on Friday. At Jackson Hole, she said the case for a rate hike was strengthening thereby re-echoing the views of other Fed officials.
Meanwhile, Bank of Japan’s Haruhiko Kuroda reiterated that the Japanese central bank was ready to do all that is needed to prevent the Japanese economy from sliding further into deflation.
The Narendra-Modi government hopes to advance the Winter Session of Parliament to ensure that the GST is rolled out by April 1, 2017. Infosys will remain in focus after the management decided to split its business into smaller units.
Wall Street ended mostly lower on Friday after Federal Reserve Chairwoman Janet Yellen said the case for an increase in U.S. short-term interest rates has strengthened in recent months. The Dow Jones Industrial Average fell 53.01 points, or 0.3%, to 18,395.40. The S&P 500 lost 3.43 points, or 0.16%, to 2,169.04. The Nasdaq Composite rose 6.71 points, or 0.13%, to 5,218.92.
The dollar is near a two-week high against the yen post fed commentary and crude prices declined.
India's foreign exchange reserves went up to $367.16 billion as on August 19. The foreign current assets stood at $341.67 billion, gold $21.58 billion, special drawing rights $1.49 billion and the reserve position with the International Monetary Fund (IMF) stood at $2.41 billion.
On the economy front, Nirmala Sitharaman defended her demand for 2 per cent cut in interest rates by RBI, saying it is essential to boost SMEs and create jobs, amid criticism that such a move would drastically affect fixed deposits.
At 2:35 PM, the S&P BSE Sensex is trading at 27,904 up 122 points, while NSE Nifty is trading at 8,601 up 28 points.
The BSE Mid-cap Index is trading up 0.14% at 13,018 whereas BSE Small-cap Index is trading up 0.10% at 12,499.
Tata Motors, Hero MotoCorp, RIL, L&T, Bharti Airtel and HDFC are among the gainers, whereas Wipro, TCS, Lupin, HDFC Bank and Asian Paints are losing sheen on BSE.
Some buying activity is seen in capital goods, industrial, auto, energy,metal, oil and gas and consumer durables sectors, while telecom, IT, pharma, power, realty, banking, metal and teck sectors are showing weakness on BSE.
The INDIA VIX is down 1.71% at 13.3375. Out of 1,855 stocks traded on the NSE, 914 declined, 655 advanced and 286 remained unchanged today.
A total of 55 stocks registered a fresh 52-week high in trades today, while 26 stocks touched a new 52-week low on the NSE.
The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.
DLF is trading marginally down ahead of Q1 numbers today.
Tata Motors soared 4.4% to Rs.525.75 on BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015.
Aurobindo Pharma is trading down 0.35%. The pharma company and Intas are among the contenders for the UK and Irish portfolio of Teva, as per media reports.
Procter & Gamble Hygiene and Health Care slipped 2.4%. The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.
Coal India is trading down 0.93%. The company will invest around Rs.7,765 crore towards capital expenditure in the ongoing fiscal and Rs.5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power.
Shree Renuka Sugars Ltd is currently trading at Rs. 16.95, up by Rs. 0.95 or 5.94% from its previous closing of Rs. 16 on the BSE. The company has informed BSE that under the Judicial Protection Law (11.101/2005 Recuperacao Judicial), the Assembly of Creditors of Renuka do Brasil S/A (RdB) has approved the Reorganization Plan presented by Renuka do Brasil S/A on August 26, 2016.
ACC Ltd is currently trading at Rs. 1628.4, down by Rs. 10.05 or 0.61% from its previous closing of Rs. 1638.45 on the BSE. The cement major will is poised to increase its manufacturing capacity in India to 35 million tonnes per annum from 30 mtpa (beginning of the year) with the addition of a couple of more plants, as per media reports.
JSW Steel Ltd is currently trading at Rs. 1759.55, up by Rs. 5.95 or 0.34% from its previous closing of Rs. 1753.6 on the BSE.The company has committed an investment of Rs.50,000 crore in Odisha for a 10-million-tonne steel project.
Pratibha Industries Ltd is currently trading at Rs. 21.45, down by Rs. 1.1 or 4.88% from its previous closing of Rs. 22.55 on the BSE. The company has reported a consolidated net loss of Rs.30.15 crore for the quarter ended June 30 as compared to net profit of Rs.16.45 crore in the similar quarter of 2015-16.
Abbott India Ltd is currently trading at Rs. 4767.5, up by Rs. 36.05 or 0.76% from its previous closing of Rs. 4731.45 on the BSE. The pharma company will be in focus as it posted a 10% rise in standalone net profit to Rs.74.01 crore for quarter ended June 30 as compared to net profit of Rs.67.31 crore for the similar quarter last year.
Vakrangee gained 1.4%. The company PAT stood at Rs.120.5 crore in Q1FY2016-17 as against Rs.86.1 crore for the corresponding quarter last year, registering a growth of 40%.
Claris Lifesciences dropped 4%. The company has received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.
Reliance Communications inched up 0.37%. Reliance Communications and Aircel Ltd are expected to sign an agreement for merger of their businesses by the first week of September, as per media reports.
GMR Infrastructure climbed 3% to Rs.13.49. GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa.
Bharat Forge slipped 1% to Rs.853. The company has acquired 64,000 shares of its wholly owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for USD 4,544,000 (around Rs 30 crore).
Alankit jumped 4% to Rs.145.35 on BSE. Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.
The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.
Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.
Investors are still trying to make sense and understand the implications of US Federal Reserve Chair Janet Yellen's speech on Friday. At Jackson Hole, she said the case for a rate hike was strengthening thereby re-echoing the views of other Fed officials.
Meanwhile, Bank of Japan’s Haruhiko Kuroda reiterated that the Japanese central bank was ready to do all that is needed to prevent the Japanese economy from sliding further into deflation.
The Narendra-Modi government hopes to advance the Winter Session of Parliament to ensure that the GST is rolled out by April 1, 2017. Infosys will remain in focus after the management decided to split its business into smaller units.
Wall Street ended mostly lower on Friday after Federal Reserve Chairwoman Janet Yellen said the case for an increase in U.S. short-term interest rates has strengthened in recent months. The Dow Jones Industrial Average fell 53.01 points, or 0.3%, to 18,395.40. The S&P 500 lost 3.43 points, or 0.16%, to 2,169.04. The Nasdaq Composite rose 6.71 points, or 0.13%, to 5,218.92.
The dollar is near a two-week high against the yen post fed commentary and crude prices declined.
India's foreign exchange reserves went up to $367.16 billion as on August 19. The foreign current assets stood at $341.67 billion, gold $21.58 billion, special drawing rights $1.49 billion and the reserve position with the International Monetary Fund (IMF) stood at $2.41 billion.
On the economy front, Nirmala Sitharaman defended her demand for 2 per cent cut in interest rates by RBI, saying it is essential to boost SMEs and create jobs, amid criticism that such a move would drastically affect fixed deposits.
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