Sensex, Nifty snap 3-day gain; Rel Jio drags Bharti & Idea 6-10%

The bulls took a breather on Thursday as equity benchmarks closed rangebound session marginally lower after rallying for previous three consecutive days. Sell-off in telecom stocks on Jio's tariff plans & profit booking in Reliance Industries dampened the market sentiment but FMCG, metals, auto and select banks limited the downside. Subdued Q1 GDP and July core industries data also weighed on the market. 

The 30-share BSE Sensex was down 28.69 points at 28,423.48 and the 50-share NSE Nifty slipped 11.55 points to 8,774.65. The broader markets also ended lower by 0.4 percent on weak breadth. About 1662 shares declined against 1074 advancing shares on the BSE. 

The market may not see major selling pressure in near term as foreign investors started pumping in more money into Indian equities again after showing caution last week ahead of Federal Reserve Chief speech, feel experts.

 With raising Sensex target to 30,000, Surendra Goyal of Citi says with the expected catalysts of GST, monsoon playing out and the market delivering 20 percent returns since February/March, focus will shift to H2 earnings. 

He expects 12 percent/15 percent Sensex/Nifty profit growth in FY17. While the pace of recovery will likely be uneven, there are reasons to be positive in the medium term - reform impact, likely consumption uptick, peaking of NPL cycle, bottoming utilisation, increasing return on equities, he says. 

Telecom stocks butchered badly with the Bharti Airtel and Idea Cellular falling 6-10 percent after Reliance Industries Chairman Mukesh Ambani unveiled Jio's aggressive tarriff plans.

Sensex, Nifty lacklustre

The Indian stock market opened on a flat note Thursday as investors digested disappointing GDP and infrastructure output data and looked ahead to Friday's U.S. jobs report for clues regarding the Fed's next move.
 
At 12:46 PM, the S&P BSE Sensex is trading at 28,446 down six points, while NSE Nifty is trading at 8,778 down mere eight points.

The BSE Mid-cap Index is trading down 0.04% at 13,213 whereas BSE Small-cap Index is trading down 0.01% at 12,649.

GAIL, ICICI Bank, Tata Motors, M&M, Coal India and Bajaj Auto are among the gainers, whereas Bharti Airtel, Wipro, Adani Ports and HDFC Bank are losing sheen on BSE.

Some buying activity is seen in consumer durables, auto, industrial, banking and FMCG sectors, while telecom, realty, teck, oil & gas, capital goods and energy sectors are showing weakness on BSE.

The INDIA VIX is up 2.60% at 13.5875. Out of 1,853 stocks traded on the NSE, 845 declined, 726 advanced and 282 remained unchanged today.

A total of 63 stocks registered a fresh 52-week high in trades today, while 21 stocks touched a new 52-week low on the NSE.
 

BPCL, HPCL and IOC traded mixed after hiking petrol price by a steep Rs.3.38 per liter and diesel by Rs.2.67 a liter on Wednesday, reversing a two-month declining trend.

Bharti Airtel slipped 1% after slashing effective data tariffs.

Reliance Industries advanced 1% on BSE. 

Tata Motors rose 0.8% after the Supreme Court on Wednesday quashed the controversial acquisition of 997.11 acres of land in Singur in 2006 for the company's project.

Rajesh Exports inched up 1% on winning a Rs.1,172-cr job order from Singapore.

Bajaj Auto and Hero Moto Corp rose about a percent each before unveiling their August sales numbers.

MCX gained 1% on reporting a 55% rise in Q1 net profit.

The rupee opened marginally lower by 9 paise at 67.04/$ against US Dollar Thursday as against the previous close of 66.95/$.

Sensex, Nifty to open on a negative note

The indices are set to open on a negative note. Auto stocks will be in focus based on the numbers announced.

Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.

Wall Street closed lower on Wednesday. The Dow Jones industrial average fell 53.42 points to 18,400.88, the S&P 500 lost 5.17 points to 2,170.95 and the Nasdaq Composite dropped 9.77 points to 5,213.22. 

Crude oil futures steadied after skidding on data showing a large surprise weekly build in US crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.

On the economy front, fiscal deficit in the first four months of the current financial year stood at Rs.3.93 lakh crore, or 73.3% of the Budget estimates for 2016-17.

India’s economic growth decelerated to its slowest level in six quarters in the April-June period, potentially making the government’s target of achieving 8% growth this year more dauntin.

The Eight Core Industries comprise nearly 38% of the weight of items included in the IIP.  The combined Index of Eight Core Industries stands at 173.7 in July 2016, which was 3.2% higher compared to the index of July 2015. Its cumulative growth during April to July, 2016-17 was 4.9%.

Among other stocks in focus:

RIL, ONGC: The government has set a 1-month deadline to begin implementing steps to resolve a dispute over natural gas that migrated from ONGC’s offshore block in the Bay of Bengal to the adjoining assets of Reliance Industries Ltd, as per media reports. RIL will be in focus ahead of its AGM in which Chairman Mukesh Ambani is likely to disclose future plans for Reliance Jio Infocomm at the company's annual general meeting on Thursday.

PSU Oil stocks in focus: Public sector oil marketing companies announced an increase in retail selling price of petrol by Rs.3.38 a litre and for diesel by Rs.2.67 a litre in Delhi on Wednesday. The price increase is inclusive of state levies and will vary from state to state and will be effective midnight August 31/September 1.

Cement stocks in focus: CCI imposed more than Rs.6,700 crore penalty on 10 cement companies. A fine of Rs.1,147.59 crore has been imposed on ACC, while penalties on Jaiprakash Associates Ltd and Ultratech are Rs.1,323.60 crore and Rs.1,175.49 crore, respectively. The fines on other companies are Rs 274.02 crore (Century), Rs.187.48 crore (India Cements), Rs.128.54 crore (JK Cements), Rs.490.01 crore (Lafarge), Rs.258.63 crore (Ramco), ACL (Rs.1,163.91 crore) and Binani (Rs.167.32 crore), according to the release. CMA faces a fine of Rs.0.73 crore. 

Auto stocks in focus: Auto stocks will remain in focus as auto companies will announce their August sales figures on Thursday.

Rajesh Exports Ltd: The company received export order worth Rs.1,172 crore. The order is to be completed by December 2016.

Multi Commodity Exchange of India Ltd: The company reported a 23% rise in revenue for the June quarter. Net profit rose 55% to Rs.32.8 crore.

MOIL: MOIL is set to enhance production of manganese ore up to 2.5 million tonnes by 2020-21, a top company executive has said.

Indiabulls Housing Finance: The company said it plans to raise up to Rs.100 crore through issuance of non-convertible debentures (NCDs).

Hathway Cables: The company reported Rs.53.2 crore loss for the quarter ended June 30 compared with Rs 37.30 crore reported in the year-ago period.

Indo Rama Synthetics India: The company reported a standalone net loss of Rs.16.56 crore for the first quarter ended June 30. The company had posted a net profit of Rs.5.86 crore in the corresponding period a year ago, Indo Rama Synthetics said in a BSE filing.

Power Mech: The company reported its net profit stood at Rs.16.60 crore for the quarter ended June 30 compared with Rs.15.90 crore reported in the year-ago period.

ZEE: Zee Entertainment Enterprises Ltd announced the sale of its sports network TEN Sports to Sony Pictures Network in an all-cash deal worth $385 million.

Tata Power: Two US defence firms-Raytheon and Lockheed Martin-plans will partner Tata Power Co. Ltd in manufacturing Javelin anti-tank guided missile in India, as per media reports.

Uniply Industries: A manufacturer of plywood, laminates and related products, has acquired Vector Projects, an architecture, design and interior fit out company to provide end-to-end building solutions, as per media report.  

Hindustan Copper: The company has signed a joint venture agreement with Chhattisgarh Mineral Development Corporation (CMDC) for exploration, mining and beneficiation of copper and associated minerals.

Global Data: RBA Commodity Index SDR (YoY) (Aug), EUR Markit Manufacturing PMI (Aug),CHF Real Retail Sales (YoY) (Aug),CHF SVME - Purchasing Managers' Index (Aug),EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug),USD Initial Jobless Claims (Aug 26),USD Unit Labor Costs (Q2),USD Nonfarm Productivity (Q2),CAD RBC Manufacturing PMI (Aug),USD Markit Manufacturing PMI (Aug),USD ISM Manufacturing PMI (Aug),USD ISM Prices Paid (Aug),USD Construction Spending (MoM) (Jul),USD EIA Natural Gas Storage change (Aug 26),   USD Total Vehicle Sales (Aug).

Results: Apollo Hospitals Enterprise Ltd, Mahanagar Gas Ltd,Essel Propack,Kalindee Rail, Ballarpur Industries Ltd, Advik Industries,Allied Digital Services,Bimetal Bearings, F Mec International Financial Services and Navkar Corporation

Trends in FII flows:  The domestic institutional investors (DIIs) were net buyers of Rs.8.47 bn in the cash segment on Wednesday, while FIIs were net buyers of Rs.8.54 bn, as per the provisional figures released by the NSE.

Nifty ends above 8750 mark

Closing Bell:

Finally, the BSE Sensex ended with a gain of 109 points at 28,452. The BSE Sensex opened at 28,372 touched an intra-day high of 28,532 and low of 28,363.

The NSE Nifty closed with a gain of 42 points at 8,786. The NSE Nifty opened at 8,754 hitting a high of 8,819 and low of 8,754.

Live Market:

The Indian equity market are trading higher on positive Asian cues.   The NSE Nifty50 index touched the 8,800 mark for the first time since April 15, 2015.

The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.

At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.

The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.

Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.

Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.

The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.

A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

Sensex, Nifty rally; Auto, Industrial gain

The Indian equity market are trading higher on positive Asian cues.   The NSE Nifty50 index touched the 8,800 mark for the first time since April 15, 2015.

The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.

At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.

The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.

Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.

Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.

The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.

A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

RBL Bank made a stellar debut in markets with the stock surging nearly 36% to Rs.305.50 against its issue price of Rs.225.

Kotak Mahindra Bank gained 2% to Rs.800. The bank said the Reserve Bank had granted approval to Canada Pension Plan Investment Board to buy stake in excess of 5% and up to 5% in the bank.

UltraTech Cement soared 4%. The Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of Ultra Tech Cement Limited under the Portfolio Investment Scheme (PIS).

Tata Motors jumped 3% to Rs.544.10. The company is planning to reduce the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs, as per media reports.

Hindustan Copper climbed 2.8% to Rs.67.10 after the company has executed a Joint Venture Agreement with Chhattisgarh Mineral Development Corporation Ltd, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.

Cox & Kings Ltd is currently trading at Rs. 187.9, down by Rs. 5.4 or 2.79% from its previous closing of Rs. 193.3 on the BSE. The tour and travel company posted 24% dip in consolidated net profit to Rs.108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs.141.60 crore for the corresponding period of the previous fiscal.

Mahanagar Telephone Nigam Ltd soared 4.4% to Rs. The company will launch Wi-Fi Hotspot in Delhi, Mumbai in partnership with Private firm, as per media reports.

Housing Development Finance Corporation Ltd is currently trading at Rs. 1403, up by Rs. 10.7 or 0.77% from its previous closing of Rs. 1392.3 on the BSE. Housing Development Finance Corporation Ltd has informed BSE that pursuant to the approval of the Board of Directors of the Corporation at its meetings held previously, the Corporation is contemplating, subject to market conditions, undertaking an issuance of Rupee Denominated Bonds to overseas investors.

IDBI Bank Ltd is currently trading at Rs. 73.25, up by Rs. 0.85 or 1.17% from its previous closing of Rs. 72.4 on the BSE. The bank has raised capital of Rs.1,500 crore through Basel III compliant Additional Tier-1 (AT1) bonds. The issue opened and closed on August 30, 2016. This is the first AT1 bond issuance by the Bank during FY 2016-17.

Bharat Petroleum Corporation Ltd is currently trading at Rs. 601.3, down by Rs. 6.05 or 1% from its previous closing of Rs. 607.35 on the BSE. The oil company will announce its Q1 numbers today.
 
Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.

Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.

Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.

Nifty reclaims 8800, Sensex up 100 pts; RBL Bank shares soar 25%

Oil prices extended losses in Asia on the back of a strong dollar while reported comments by Iran's oil minister that his country planned to boost output ramped up oversupply worries. 

The comments by Bijan Zangeneh, carried by Iran's official news agency on Tuesday, added to a feeling that an informal OPEC meeting with Russia in September may not result in a deal that would boost prices.

 Zangeneh said Iran needed to raise its output to regain the market share lost while it was under international sanctions, which were lifted only in January. 

Iran has struggled to raise production above four million barrels per day since the the sanctions were removed, according to the report, which said it is currently producing 3.8 million. 

Kotak Mahindra Bank shares surged to record high of Rs 807, up 2.7 percent intraday after the Canada Pension Plan is allowed to increase stake in the country's third largest private sector lender (by market capitalisation). 

"The Reserve Bank of India on Tuesday said it has granted approval to Canada Pension Plan Investment Board (CPPIB) for acquiring shares in excess of 5 percent and below 10 percent of the paid up capital of Kotak Mahindra Bank. 

The country's gross domestic product (GDP) growth is expected to see a slowdown in the first (April-June) quarter of fiscal year 2017, as the impact of a high base and higher deflator plays out. 

Compared with that, GDP in last (January-March) quarter of fiscal 2016 showed GDP had come in at 7.9 percent. 

For the first quarter, gross value added (GVA), too, is seen slowing from 7.4 percent to 7.3 percent. The data is expected today. 

Equity benchmarks extended rally for the fourth consecutive session with the Nifty reclaiming 8800 level for the first time since April 15, 2015. 

The 30-share BSE Sensex was up 102.10 points at 28445.11 and the 50-share NSE Nifty rose 44.65 points to 8789. About 1204 shares advanced against 566 declining shares on the BSE. 

Shares of RBL Bank debuted on the exchanges at Rs 274.20 per share, up 22 percent from its issue price of Rs 225. It surged to Rs 282.40 in early trade. The first private lender IPO in a decade was opened for subscription between August 19-23.

Opening Bell - Sensex, Nifty flat in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 28,377 up 33 points, while NSE Nifty is trading at 8,754 up 10 points.

The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.

Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.

The Nifty ended with a decisive break above 8700 on Tuesday. Sentiments got a boost with the latest statement from the RBI, sharing optimism over the growth prospect in this fiscal. Also, firm opening of European markets further strengthened the rally.

Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.

Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.

RBL Bank will make its stock market debut today.The company's IPO was oversubscribed a staggering 69.62 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 85.08 times, non institutional investors chunk 198.06 times and retail investors portion 5.70 times, as per data available with the NSE.

Sensex surges over 400 points; Banking, Auto stocks lead

The Sensex provisionally settled above the psychological 28,000 mark after reclaiming that level in the opening trade. The Sensex hit its highest level in more than thirteen months in late trade. The Nifty hit its highest level in more than sixteen months in late trade.

Finally, the BSE Sensex ended with a gain of 440 points at 28,343. The BSE Sensex opened at 28,102 touched an intra-day high of 28,478 and low of 28,011.

The NSE Nifty closed with a gain of 137 points at 8,744. The NSE Nifty opened at 8,647 hitting a high of 8,751 and low of 8,642.

However, as the day progressed, a sudden bout of buying in the auto, IT, banking, capital goods, energy, metal, oil & gas, banking and finance stocks lifted the benchmarks. On the other hand, telecom ended in red.

Among the 50-stocks of Nifty, Ambuja Cement, Bosch, Grasim, ACC, Eicher Motors, Hindalco and Tech Mahindra were among the gainers on NSE, whereas Bharti Airtel, Idea Cellular, Zee and BHEL were among the losers today.

The India VIX (Volatility) index was down 1.10% at 13.02. Out of 1,534 stocks traded on the NSE, 520 declined and 925 advanced today. The BSE Midcap and Smallcap indices ended up 0.80%-1%.

The rupee was trading up 11 paise at 67.06 per US dollar.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher. Nikkei 225 closed in red.

In Europe, the FTSE 100 was trading up 0.31%. DAX and the CAC 40 were trading lower by 1% each.

Bharti Airtel dropped 3% after announcing up to 80% reduction in its 3G and 4G mobile data packs.

Maruti Suzuki India ended higher by 2.8% at Rs.5069 on the BSE. Maruti Suzuki India Limited, India's leading passenger vehicle manufacturer, today launched the sporty, Swift Deca, a limited edition model of its most popular hatchback. A wide array of features including touch screen multimedia system with Bluetooth, exterior styling kit, sporty body graphics, football themed seat covers and interior styling kit make the Swift Deca even more attractive.

Ramky Infrastructure soared 4.5% to Rs.78.20 after winning NHAI contracts worth Rs.1,646 crore for developing two highway projects in Jharkhand.

Mandhana Industries shares locked up in upper circuit for seventh straight day, after rising by their maximum daily limit of 5%. Strong buying has been witnessed in Mandhana Industries since the textile company last week disclosed that it has finalised an agreement with actor Salman Khan's 'Being Human' Foundation to sell products under the 'Being Human' brand.

eClerx Services erased all its early gains and closed lower on Tuesday as weak Q1 earnings and softer revenue and margin guidance weighed on its shares. eClerx shares had jumped as much as 10 per cent in the morning trade on share buyback approval.

Gujarat Mineral Development Corporation Ltd climbed 8.3% to Rs.98.15. The company reported a 56% growth in profit for the first quarter of financial year 2016-17.

Artson Engineering rallied 4.5% after it bagged an order worth Rs.24.43 crore from Mumbai Aviation Fuel Farm Facility (MAFFFPL) for design, fabrication, erection and testing of five fixed cone roof storage tanks.  

Live Stock Market Updates - Sensex jumps over 300 points; Nifty reclaims 8,700

The Indian stock market is trading on a steady note maintaining over half a percent gain as investors continue to pile up hefty positions almost across the counters. European stocks climbed, extending a monthly advance, as a weaker euro boosted exporters. 

At 1:35 PM, the S&P BSE Sensex is trading at 28,222 up 319 points, while NSE Nifty is trading at 8,706 up 99 points.

The BSE Mid-cap Index is trading up 0.76% at 13,164 whereas BSE Small-cap Index is trading up 1.05% at 12,629.

Bajaj Auto, Maruti Suzuki, GAIL, ICICI Bank, and Sun Pharma are among the gainers, whereas Bharti Airtel, Den Network, P&G, Jubilant FoodWorks and Prestige Estates are losing sheen on BSE.

Some buying activity is seen in auto, IT, banking, metal, oil & gas, FMCG, pharma and finance sectors, while telecom sector is showing weakness on BSE.

The INDIA VIX is down 2.22% at 12.8725. Out of 1,855 stocks traded on the NSE, 456 declined, 1,107 advanced and 292 remained unchanged today.

A total of 82 stocks registered a fresh 52-week high in trades today, while 19 stocks touched a new 52-week low on the NSE.

eClerx Services Ltd is currently trading at Rs. 1684, up by Rs. 51.2 or 3.14% from its previous closing of Rs. 1632.8 on the BSE. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs.95.9 crore for the quarter ended June 30, 2016 as compared to Rs.75.4 crore for the quarter ended June 30, 2015.

The company informed BSE that the Board of Directors of the Company at its meeting approved a proposal for buyback of equity Shares of the Company, subject to approval by the shareholders, for an aggregate amount not exceeding Rs.234 crore.

Ramky Infrastructure Ltd is currently trading at Rs. 82.95, up by Rs. 8.15 or 10.9% from its previous closing of Rs. 74.8 on the BSE. NHAI has awarded contracts worth Rs.1,646 crore to Ashoka Buildcon and Ramky Infrastructure for building two highway projects in Jharkhand.

The rupee opened marginally higher by 3 paise at 67.13/$ against US Dollar Tuesday as against the previous close of 67.16/$.

Asian markets are trading mixed. Nikkei 225 and Hang Seng are trading in green, while Shanghai Composite is in red.

The economy could well grow over 8pc this fiscal says Niti Aayog Vice-Chairman Arvind Panagariya. He attributes policy reforms, focus on implementation at the grassroots level and good monsoon for the same. The weather bureau is banking on one good spell before the southwest monsoon starts withdrawing from September 5; this could make good the deficit and perhaps record above-normal monsoon for the year.

The FIPB is expected to take up 12 foreign investment proposals today.

Wall Street closed higher on Monday. The Dow Jones industrial average rose 107.59 points to 18,502.99, the S&P 500 gained 11.34 points to 2,180.38 and the Nasdaq Composite added 13.41 points to 5,232.33.

Apple ended down 0.1 percent at USD 106.82. The company could face over 1 billion euros in back taxes as the European Commission was set to rule on Tuesday against Ireland's tax dealings with Apple.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The economy’s prospects for the current financial year are brighter than the previous fiscal, but growth is still below potential, wrote Reserve Bank of India governor Raghuram Rajan in his foreword to the central bank’s annual report for 2015-16.

Opening Bell - Sensex regains 28K level, up 110 points in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 28,012 up 110 points, while NSE Nifty is trading at 8,646 up 39 points.

The rupee opened marginally higher by 3 paise at 67.13/$ against US Dollar Tuesday as against the previous close of 67.16/$.

Asian markets are trading mixed. Nikkei 225 and Hang Seng are trading in green, while Shanghai Composite is in red.

The economy could well grow over 8pc this fiscal says Niti Aayog Vice-Chairman Arvind Panagariya. He attributes policy reforms, focus on implementation at the grassroots level and good monsoon for the same. The weather bureau is banking on one good spell before the southwest monsoon starts withdrawing from September 5; this could make good the deficit and perhaps record above-normal monsoon for the year.

The FIPB is expected to take up 12 foreign investment proposals today.

Wall Street closed higher on Monday. The Dow Jones industrial average rose 107.59 points to 18,502.99, the S&P 500 gained 11.34 points to 2,180.38 and the Nasdaq Composite added 13.41 points to 5,232.33.

Apple ended down 0.1 percent at USD 106.82. The company could face over 1 billion euros in back taxes as the European Commission was set to rule on Tuesday against Ireland's tax dealings with Apple.

On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.

The economy’s prospects for the current financial year are brighter than the previous fiscal, but growth is still below potential, wrote Reserve Bank of India governor Raghuram Rajan in his foreword to the central bank’s annual report for 2015-16.