The Indian stock markets with the benchmarks advancing to their highest level in two-weeks. Nifty50 hits 8,150 mark on Friday. Market sentiment was also boosted after Finance Minister Arun Jaitley said that government tax collection has gone up sharply, belying fears of sharp slowdown in the economy.
At 12:27 PM, the S&P BSE Sensex is trading at 26,593 up 227 points, while NSE Nifty is trading at 8,170 up 66 points.
The BSE Mid-cap Index is trading up 1.16% at 12,043, whereas BSE Small-cap Index is trading up 1.02% at 12,076.
Aurobindo Pharma, ICICI Bank, BHEL, ITC and Grasim are among the gainers, whereas BPCL, Bharti Airtel, Bharti Infratel, Tata Motors and HDFC Bank are losing sheen on NSE.
A total of four stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.
Out of 1,889 stocks traded on the NSE, 288 declined, 1,262 advanced and 339 remained unchanged today.
Some buying is observed in industrial, financial services, IT, banking, metal, power, realty and auto sectors while telecom is showing weakness on BSE.
The INDIA VIX is down 0.06% at 15.2725.
Havells India gained 3.4% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.
The Nifty PSU Bank index was trading higher by 1.52% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. Oriental Bank of Commerce is up 3.8% led the gains along with Allahabad Bank and Union Bank of India.
Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.
Tree House Education surged 5% to Rs 18.25 after the company informed exchanges that a meeting of the board of director is scheduled to be held on Friday to consider and approve appointment of Suraj Manghnani as an additional independent non-executive director.
Jagran Prakashan rallied 4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, to consider the proposal for buyback of shares.
Tata Power gained 1.2%. Mehli Mistry, the promoter of M Pallonji and Co, has acquired 2.57 crore shares of Tata Power, in what's seen as a bid to counter cousin Cyrus Mistry, the ousted chairman of Tata Sons.
SBT rose 2% after the bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) to be effective from January 1, 2017.
Lakshmi Vilas Bank inched up 1%. Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs599.88 crore by issuing 4.25 crore shares in domestic or international markets.
RS Software climbed 3%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.
Petronet LNG is trading higher by 1%. Petrobangla on Thursday signed an initial agreement with Petronet to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million. Petrobangla is a government-owned oil company of Bangladesh, as per media reports.
GE Power India soared 6% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.
Golden Tobacco gained 2.6%. Golden Tobacco Ltd said that it has received notice from consortium of banks led by Canara Bank for one of its property situated at Guntur.
IFCI slipped 2.3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).
BHEL advanced 1.4%. The company has successfully commissioned another 600mw coal-based thermal power plant in Telangana.
STEEL STRIPS WHEEL LTD is currently trading at Rs 624.85, up by Rs 12.5 or 2.04% from its previous closing of Rs 612.35 on the BSE. The company announce Exports order for supply of Steel wheels for Winter market in EU bagging of repeat and Canada.
Most Asian indices opened flat with the Japanese 'Nikkei" trading in the green. The deadline to exchange old high value currency notes comes to an end today and the attention is on what Prime Minister Narendra Modi will unleash in his much anticipated speech on the eve of New Year. Reports indicate that the inconveniences of the demonetisation may soon be history as the PM is set to announce a host of measures that will propel the economy back on the growth track. The FM sought to assuage any fears by throwing up facts stating that November saw a rise in tax collection; an increase in rabi sowing, higher air traffic and increased insurance premiums.
The government is proposing a staggered relaxation of existing restrictions on cash withdrawals from banks after 30 December. This is aimed at smoothening the transition as the Reserve Bank of India (RBI) supplies new currency notes.
The banking sector continues to face “significant” levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India (RBI) governor Urjit Patel said in the biannual Financial Stability Report.
At 12:27 PM, the S&P BSE Sensex is trading at 26,593 up 227 points, while NSE Nifty is trading at 8,170 up 66 points.
The BSE Mid-cap Index is trading up 1.16% at 12,043, whereas BSE Small-cap Index is trading up 1.02% at 12,076.
Aurobindo Pharma, ICICI Bank, BHEL, ITC and Grasim are among the gainers, whereas BPCL, Bharti Airtel, Bharti Infratel, Tata Motors and HDFC Bank are losing sheen on NSE.
A total of four stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.
Out of 1,889 stocks traded on the NSE, 288 declined, 1,262 advanced and 339 remained unchanged today.
Some buying is observed in industrial, financial services, IT, banking, metal, power, realty and auto sectors while telecom is showing weakness on BSE.
The INDIA VIX is down 0.06% at 15.2725.
Aurobindo Pharma zoomed 2.7% after the company has received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.
Havells India gained 3.4% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.
The Nifty PSU Bank index was trading higher by 1.52% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. Oriental Bank of Commerce is up 3.8% led the gains along with Allahabad Bank and Union Bank of India.
Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.
Tree House Education surged 5% to Rs 18.25 after the company informed exchanges that a meeting of the board of director is scheduled to be held on Friday to consider and approve appointment of Suraj Manghnani as an additional independent non-executive director.
Jagran Prakashan rallied 4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, to consider the proposal for buyback of shares.
Tata Power gained 1.2%. Mehli Mistry, the promoter of M Pallonji and Co, has acquired 2.57 crore shares of Tata Power, in what's seen as a bid to counter cousin Cyrus Mistry, the ousted chairman of Tata Sons.
SBT rose 2% after the bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) to be effective from January 1, 2017.
Lakshmi Vilas Bank inched up 1%. Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs599.88 crore by issuing 4.25 crore shares in domestic or international markets.
RS Software climbed 3%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.
Petronet LNG is trading higher by 1%. Petrobangla on Thursday signed an initial agreement with Petronet to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million. Petrobangla is a government-owned oil company of Bangladesh, as per media reports.
GE Power India soared 6% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.
Golden Tobacco gained 2.6%. Golden Tobacco Ltd said that it has received notice from consortium of banks led by Canara Bank for one of its property situated at Guntur.
IFCI slipped 2.3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).
BHEL advanced 1.4%. The company has successfully commissioned another 600mw coal-based thermal power plant in Telangana.
STEEL STRIPS WHEEL LTD is currently trading at Rs 624.85, up by Rs 12.5 or 2.04% from its previous closing of Rs 612.35 on the BSE. The company announce Exports order for supply of Steel wheels for Winter market in EU bagging of repeat and Canada.
Most Asian indices opened flat with the Japanese 'Nikkei" trading in the green. The deadline to exchange old high value currency notes comes to an end today and the attention is on what Prime Minister Narendra Modi will unleash in his much anticipated speech on the eve of New Year. Reports indicate that the inconveniences of the demonetisation may soon be history as the PM is set to announce a host of measures that will propel the economy back on the growth track. The FM sought to assuage any fears by throwing up facts stating that November saw a rise in tax collection; an increase in rabi sowing, higher air traffic and increased insurance premiums.
The government is proposing a staggered relaxation of existing restrictions on cash withdrawals from banks after 30 December. This is aimed at smoothening the transition as the Reserve Bank of India (RBI) supplies new currency notes.
The banking sector continues to face “significant” levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India (RBI) governor Urjit Patel said in the biannual Financial Stability Report.
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