Nifty holds 8700 mark

The Indian equity market snapped a three-day losing streak, opening with gains of 0.5%. The domestic market traded flat to positive following tepid global cues.

The S&P BSE Sensex is trading at 28,126 up 65 points, while NSE Nifty is trading at 8,724 up 27 points.

The BSE Mid-cap Index is trading down 0.01% at 13,541 whereas BSE Small-cap Index is trading up 0.40% at 13,275.

Markets got some support with NITI Aayog vice-chairman Arvind Panagariya’s statement that India can become a $10 trillion economy in the next 15 years, from the existing $2 trillion, like China did in last one and a half decade. 

Tata Steel, Asian Paints, Cipla, M&M, Power Grid and Hero MotoCorp are among the gainers, whereas Bharti Airtel, TCS, Adani Ports, Infosys, HDFC and Sun Pharma are losing sheen on BSE.

Some buying activity is seen in metal, basic materials, consumer durables,pharma, utilities and FMCG sectors, while telecom, realty and finance are showing weakness on BSE.

The INDIA VIX is down 1.13% at 14.3200. Out of 1,875 stocks traded on the NSE, 572 declined, 1,010 advanced and 293 remained unchanged today.

A total of 94 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

Tata Teleservices (Maharashtra) climbed 5.6% after the company succeeded in wining spectrum in 1800 MHz band in Mumbai and Maharashtra Service Areas with bid values of Rs 2446 crore and Rs 1590 crore respectively. The total upfront payment to be made to Department of Telecommunications by the Company is Rs 2018 crore.

RBL Bank rose 1% to Rs 311 after the company joined hands with NeoGrowth Credit Pvt. Ltd and Overseas Private Investment Corporation to provide financing for small and medium enterprises in the Indian retail space.

Sunil Hitech Engineers jumped 18% to Rs 378.20 on BSE after the company said its board will consider the issue of bonus shares and the issue of convertible warrants to the promoters and non-promoters on 11 October 2016.

Shriram City Union Finance rallied 2.2% to Rs 2,279 after the Banking and Securities Management Committee of the company allotted 1,000 non convertible redeemable debentures to two investors.

Jammu & Kashmir Bank Ltd advanced 1% to Rs 88 after huge block deal. Around 1.22 million shares of the company changed hands in a block deal.

Excel Crop Care Ltd rises 3.4% to Rs 1,472. Shroff family and Ratanbali group has completed 24.72% and 20.26% respectively stake to Sumitomo Chemical. Sumitomo Chemical now owns 64.94% stake in teh Excel Corp Care.

Sensex, Nifty gain marginally; FMCG, metals, pharma support

The market is gaining marginally supported by strenghts in FMCG, metals and pharma stocks. The Sensex is up 67.50 points or 0.2 percent at 28128.64 and the Nifty is up 26.65 points or 0.3 percent at 8724.25. About 1565 shares have advanced, 806 shares declined, and 101 shares are unchanged. 

Tata Steel, Cipla, GAIL, Asain Paints and Lupin are top gainers while Bharti, HDFC tiwns ONGC and NTPC are losers in the Sensex. 

Gold prices were up by Rs 193 to Rs 29,850 per 10 gram in futures trade today as speculators created positions amid positive cues from the global market. 

According to analysts, a firming trend overseas where gold rebounded from the biggest weekly decline this year as investors piled into bullion-backed exchange-traded funds, lifting global holdings to the highest since 2013, and as the dollar fell for a second day, influenced the precious metal in futures trade.

Nifty above 8700 mark; Metal, FMCG stocks lead

The S&P BSE Sensex is trading at 28,165 up 104 points, while NSE Nifty is trading at 8,729 up 32 points.

The BSE Mid-cap Index is trading up 0.48% at 13,608 whereas BSE Small-cap Index is trading up 0.53% at 13,293.

Tata Steel, Asian Paints, Cipla, M&M, Power Grid and Hero MotoCorp are among the gainers, whereas Bharti Airtel, TCS, Adani Ports, Infosys, HDFC and Sun Pharma are losing sheen on BSE.

Some buying activity is seen in metal, basic materials, consumer durables, utilities and FMCG sectors, while IT and teck are showing weakness on BSE.

The INDIA VIX is down 0.70% at 14.3825. Out of 1,852 stocks traded on the NSE, 346 declined, 1,100 advanced and 406 remained unchanged today.

A total of 49 stocks registered a fresh 52-week high in trades today, while 5 stocks touched a new 52-week low on the NSE.

The rupee opened higher by 10 paise at 66.57/$ as against the previous close of 66.67/$. The rupee opened higher in early trade at the forex market today on increased selling of the American currency by banks and exporters.


The domstic markets will remain closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.

Asian markets opened flat as all eyes on Chinese markets which open after a week of holidays & should see an uptick on the back of commodity prices rallying globally. Hang Seng and Nikkei 225 are trading in red.

Globally consolidation continues as rise in bond yields leads to balancing of most portfolio's & money allocation to emerging markets set to rise as European banking woes to hit flows. Expect rally in equities this week from oversold territory as most events discounted & pullback on the cards.

Wall Street fell modestly on Friday after sharp swings in sterling and a slightly weaker-than-expected jobs report. The Dow slid 0.2 percent, while the tech-heavy Nasdaq and the S&P 500 eased about 0.3 percent each.

On economy front, data on industrial production (IIP) for August is scheduled to come on Monday.

On the international front, the US added 1,56,000 new jobs in September but the unemployment rate in the world's largest economy rose slightly by 0.1% to 5%. The International Monetary Fund's member countries on Saturday pledged to revive flagging global trade, boost government spending and remove barriers to business to fight weak growth that has left too many people behind.

Oil extended slide below $50 a barrel after the release of weekly U.S. oil rig count and the dollar held steady versus the yen, while gold rebounded from its biggest decline in almost a year.

Nifty ends below 8,700 ahead of U.S. payroll data

Indian shares declined for a third consecutive session today. Weak global cues and profit booking weighed on the domestic bourses. The domestic market started off on a positive note but then slipped into the red. It then remained in the negative zone throughout most of today’s session and closed with a marginal loss.

Finally, the BSE Sensex ended today’s trading with a loss of 45 points at 28,061. It opened at 28,129, touched an intra-day high of 28,156 and low of 27,965.

The NSE Nifty closed with a loss of 12 points at 8,698. It opened at 8,722, hit an intra-day high of 8,724 and low of 8,664.

Significant selling was witnessed in telecom, IT, oil & gas, consumer durables, banking, pharma and finance stocks, while metal, auto, industrial and basic materials stocks were among the gainers.

Among the 50 stocks of the Nifty, Tata Steel, Tata Motors DVR, Zee, Bajaj Auto, Tata Motors, Tata Power and Grasim were among the gainers, whereas Bharti Infratel, Asian Paints, Eicher Motors, HDFC, Infosys and Ciplawere among the losers today.

Sentiment remained downbeat as a World Bank release stated that India, the world's largest remittance recipient in 2015, may receive a lesser remittance of $65.5 bn this year, ie a drop of 5%. Investors also remained cautious ahead of a US jobs report due later in the day and the start of domestic quarterly earnings season.

The India VIX (Volatility) index was down 2.35% to 14.4850. Out of 1,497 stocks traded on the NSE, 755 declined and 684 advanced today.

The BSE Midcap index ended marginally higher and the Smallcap index closed in the red.

The rupee was trading down 3 paise at 66.72 per US dollar.

On the economy front, the Reserve Bank of India (RBI) has proposed widening the definition of a branch to make it easier for banks to meet the norm of opening 25% banking outlets in unbanked rural centres.

On the global front, Asian markets closed on a tentative note, following a warning from the IMF that a Fed rate hike will create a major disorder across Asian markets. As a result, the Hang Seng and Nikkei 225 closed lower. Markets in China remained closed for the Golden Week public holidays.

European markets remained subdued over speculation on curtailment of stimulus measures by the European Central Bank (ECB).The CAC 40 and DAX and FTSE are trading in red, while FTSE 100 gained 1%. The pound sterling slumped to a three-decade low, raising eyebrows across financial markets.

Sensex, Nifty slip further

The Indian equity market fluctuated between gains and losses amid mixed global clues and ahead of U.S payrolls data.

At 12:03 PM, the S&P BSE Sensex is trading at 28,017 down 89 points, while NSE Nifty is trading at 8,682 down 28 points.

The BSE Mid-cap Index is trading down 0.01% at 13,539 whereas BSE Small-cap Index is trading down 0.10% at 13,212.

Tata Steel, Tata Motors, Lupin, GAIL and Axis Bank are among the gainers, whereas Asian Paints, Cipla, HDFC, L&T, Bajaj Auto and HUL are losing sheen on BSE.

Some buying activity is seen in metal, power, industrial and utilities sectors, while IT, oil & gas, capital goods, consumer durables and banking are showing weakness on BSE.

The INDIA VIX is down 1.19% at 14.6575. Out of 1,873 stocks traded on the NSE, 796 declined, 736 advanced and 341 remained unchanged today.

A total of 53 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE. 

Endurance Technologies got fully subscribed in only one hour on Day 3 of the bidding process. The quota limit for non-institutional investors (NIIs) saw bids for 4.79 lakh shares, while the quota for qualified institutional investors (QIBs) was subscribed 1.7 times.

IDBI Bank Ltd is currently trading at Rs. 72.85, up by Rs. 3 or 4.29% from its previous closing of Rs. 69.85 on the BSE. The government is looking to get IDBI Bank’s stalled disinvestment plan moving again, has instructed the lender’s management to bring its stake down to 52%.

Tata Steel Ltd is currently trading at Rs. 395.45, up by Rs. 6.15 or 1.58% from its previous closing of Rs. 389.3 on the BSE. The company registered Hot Metal production of 3.12 million tonnes in Q2 FY'17 (up by 17 per cent y-o-y) and 6.14 million tonnes in H1 FY'17 (up by 17 per cent y-o-y).

Bombay Dyeing & Manufacturing Company Ltd is currently trading at Rs. 60.2, up by Rs. 2.45 or 4.24% from its previous closing of Rs. 57.75 on the BSE. Around 20.5 lakh shares were traded in a multiple block at Rs 57.40-59.10 on the NSE and BSE.

Aurobindo Pharma Ltd is currently trading at Rs. 850, down by Rs. 6.6 or 0.77% from its previous closing of Rs. 856.6 on the BSE. Around 98 lakh shares were traded in a multiple block.

The rupee opened lower six paise at 66.75/$ against US Dollar Friday as against the previous close of 66.69/$.

Asian markets opened modestly lower on Friday. Hang Seng and Nikkei 225 are trading in red. Mainland Chinese markets remained closed for the National Day holiday.

Wall Street closed flat on Thursday as investors looked ahead to a key employment report. The Dow Jones industrial average fell 0.07%. The S&P 500 rose 0.05% and the Nasdaq fell 0.17%.

Globally markets are in consolidation as wild swings in the Pound sterling which fell 6.5% to a new 30 year low, rise in bond yields & oil hitting 4 month highs are unsettling participants. Strong US jobs data to offset rate hike in December is the market mood in the US as data is awaited today.

Spectrum sale ended on Thursday, five days after it started, with the government raising Rs 65,789.12 crore in revenue, of which less than half will accrue to the exchequer in the current fiscal year.

On the economy front, the Reserve Bank of India (RBI) has proposed widening the definition of a branch to make it easier for banks to meet the norm of opening 25% banking outlets in unbanked rural centres.

Sensex, Nifty trade flat

The S&P BSE Sensex is trading at 28,149 up 42 points, while NSE Nifty is trading at 8,719 up 13 points.

The BSE Mid-cap Index is trading up 0.57% at 13,619 whereas BSE Small-cap Index is trading up 0.39% at 13,277.

ONGC, Tata Steel, GAIL, Tata Motors and Axis Bank are among the gainers, whereas HDFC, L&T, Bajaj Auto and Cipla are losing sheen on BSE.

Some buying activity is seen in media, FMCG, realty and metal sectors, while IT and financial service are showing weakness on NSE.

The INDIA VIX is down 0.80% at 14.7150. Out of 1,848 stocks traded on the NSE, 445 declined, 967 advanced and 436 remained unchanged today.

A total of 26 stocks registered a fresh 52-week high in trades today, while six stocks touched a new 52-week low on the NSE.

The rupee opened lower six paise at 66.75/$ against US Dollar Friday as against the previous close of 66.69/$.

Asian markets opened modestly lower on Friday. Hang Seng and Nikkei 225 are trading in red. Mainland Chinese markets remained closed for the National Day holiday.

Wall Street closed flat on Thursday as investors looked ahead to a key employment report. The Dow Jones industrial average fell 0.07%. The S&P 500 rose 0.05% and the Nasdaq fell 0.17%.

Globally markets are in consolidation as wild swings in the Pound sterling which fell 6.5% to a new 30 year low, rise in bond yields & oil hitting 4 month highs are unsettling participants. Strong US jobs data to offset rate hike in December is the market mood in the US as data is awaited today.

Spectrum sale ended on Thursday, five days after it started, with the government raising Rs 65,789.12 crore in revenue, of which less than half will accrue to the exchequer in the current fiscal year.

On the economy front, the Reserve Bank of India (RBI) has proposed widening the definition of a branch to make it easier for banks to meet the norm of opening 25% banking outlets in unbanked rural centres.

Indices fall for second straight day; Nifty holds 8,700 mark

The Indian equity market continued on yesterday’s lackluster note and lost further ground today. After opening on a flat note, indices remained under pressure and slipped lower in the second half. Weak global cues, coupled with lower crude oil prices, rupee and profit booking weighed on the domestic markets.

Finally, the BSE Sensex ended today’s trading with a loss of 115 points at 28,106. It opened at 28,298, touched an intra-day high of 28,329 and low of 28,031.

The NSE Nifty closed with a loss of 34 points at 8,710. It opened at 8,769, hit an intra-day high of 8,781 and low of 8,685.

Heavy selling was witnessed in realty, power, pharma, auto, banking, finance and consumer durables stocks, while oil & gas, telecom and energy stocks were among the gainers.

Among the 50 stocks of the Nifty, GAIL, BPCL, Grasim, RIL, HUL, Bosch, ONGC, Bharti Infratel and Hindalco were among the gainers, whereas Bank of Baroda, Cipla, Power Grid, NTPC, M&M and UltraTech Cement were among the losers today.

The India VIX (Volatility) index was down 0.60% to 14.8350. Out of 1,501 stocks traded on the NSE, 922 declined and 535 advanced today.

The BSE Midcap and Smallcap indices slipped 0.56% and 0.48%, respectively.

The rupee was trading down by 17 paise at 66.67 per US dollar.

On the global front, Asian stocks traded firm with the Hong Kong’s Hang Seng and Nikkei 225 each advancing 0.56%. Mainland Chinese markets remained closed for the National Day holiday.

European markets remained subdued over speculation on curtailment of stimulus measures by the European Central Bank (ECB).The CAC 40, DAX and FTSE 100 each have slipped 0.3%.

Jaiprakash Power Ventures climbed 10% to Rs.4.45 on the BSE. The company has informed BSE that a meeting of the Board of Directors of the company will be held on October 6 to consider the recommendations of the Committee of Directors (for Restructuring) regarding proposals of restructuring including divestment of one or more units and to review the progress made in the reduction of company’s debt.

Goa Carbon jumped 16% after the company reported a net profit of Rs 4.62 cr for the quarter ended September 30, 2016.

Transformers and Rectifiers (India) surged 8.7% after the company said it had entered into a joint venture (JV) agreement with Chinese firm Jiangsu Jingke Smart Electric Company.

Goodyear India soared 13% on the BSE in intra-day trade, after Goldman Sachs bought stake in tyre maker through the open market.
Sagar Cements advanced 1.5% after the company reported cement production and sales figures for September 2016. The company's sales were up by 29% on a consolidated basis and lower by 15% on a standalone basis.

NMDC rallied 4% after the company fixed prices of Lump Ore at Rs 2,100/WMT, while the prices of Fines have been fixed at Rs 1,760/WMT. The Ore prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

Phillips Carbon Black advanced 2% to Rs 275 after the Board approved amalgamation of Goodluck Dealcom unit with self.

Bosch gained 1.5% after the company expressed plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.

Jindal Steel & Power tanked 5% to Rs 79.20. The company has defaulted on interest repayments to its bondholders due on September 30, 2016.

A total of 141 stocks registered a fresh 52-week high in trades today, whereas 14 stocks touched a new 52-week low on the NSE.

Live Stock Market Updates - Sensex falls over 100 points; Power, Realty drag

Closing Bell:

Finally, the BSE Sensex ended today’s trading with a loss of 115 points at 28,106. It opened at 28,298, touched an intra-day high of 28,329 and low of 28,031.

The NSE Nifty closed with a loss of 34 points at 8,710. It opened at 8,769, hit an intra-day high of 8,781 and low of 8,685.

Live Market:

At 1:50 PM, the S&P BSE Sensex is trading at 28,199 down 22 points, while NSE Nifty is trading at 8,737 down mere seven points.

The BSE Mid-cap Index is trading down 0.17% at 13,594 whereas BSE Small-cap Index is trading down 0.11% at 13,275.

GAIL, RIL, ONGC, RIL, HUL, Tata Steel and HDFC are among the gainers, whereas Axis Bank, Infosys, ICICI Bank, M&M, Cipla and Dr.Reddy's are losing sheen on BSE.

Some buying activity is seen in oil & gas, metal, energy, utilities, telecom and power sectors, while IT and teck are showing weakness on BSE.

The INDIA VIX is down 1.05% at 14.7675. Out of 1,873 stocks traded on the NSE, 805 declined, 787 advanced and 281 remained unchanged today.

A total of 135 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

The rupee opened lower four paise at 66.56/$ against US Dollar Thursday as against the previous close of 66.50/$.

Sagar Cements Ltd is currently trading at Rs. 745.45, up by Rs. 11.6 or 1.58% from its previous closing of Rs. 733.85 on the BSE. Sagar Cements reported the cement production and sales figures for September 2016. The company's sales were up by 29% on a consolidated basis and lower by 15% on standalone basis.

Goa Carbon Ltd soared 16.5% to Rs 137. The company reported a net profit of Rs 4.62 crore in June quarter against net loss of Rs 2.96 crore. Its net sales increased 0.3% to Rs 79.03 crore.

NMDC Ltd is currently trading at Rs.116.05, up by Rs.4.6 or 4.13% from its previous closing of Rs.111.45 on the BSE. The company has fixed the prices of Lump Ore at Rs.2,100/WMT, while the prices of Fines have been fixed at Rs.1,760/WMT. The Ore prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

Bosch gained 1.3% after the company plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.

Jindal Steel & Power Ltd tanked 5% to Rs.79.20. The company has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8% with about two-10 year maturities with banks, provident funds believed to be the investors.

Bharti Airtel is trading marginally lower at Rs.321.45 on the BSE. The company announced the launch of 4G data services in Gujarat as it rolls out services in Ahmedabad, thereby providing 4G in 17 circles across India.

Cosmo Films Ltd is currently trading at Rs. 419, up by Rs. 1.3 or 0.31% from its previous closing of Rs. 417.7 on the BSE. The company has entered into a definitive MOU for purchase of about 34 acres of industrial land adjacent to its existing manufacturing plant on 16 acres of land at Waluj, Aurangabad, Maharashtra for setting up new production facilities in due course.

Hexaware Tech slipped 1.6% to Rs.187. The company has opened a new global delivery centre in Bucharest, Romania.

Jubilant Life Sciences dropped 1.5% to Rs.635 on the BSE. The company said its wholly-owned subsidiary has received approval from the Australian health regulator Therapeutic Goods Administration (TGA) for Lyophilised kit for the preparation of injection used for lung scan.

ONGC inched up 1% to Rs.269. The Cabinet Committee on Economic Affairs has given its approval to an acquisition by ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, for 11% stake in JSC Vankorneft from Rosneft Oil Company (Rosneft), Russia’s national oil company.

Vedanta zoomed 3% after the company said it will raise up to Rs.12.50 bn through issuance of non-convertible debentures (NCDs).

Live Stock Market Updates - Nifty holds 8700 mark

At 1:50 PM, the S&P BSE Sensex is trading at 28,199 down 22 points, while NSE Nifty is trading at 8,737 down mere seven points.

The BSE Mid-cap Index is trading down 0.17% at 13,594 whereas BSE Small-cap Index is trading down 0.11% at 13,275.

GAIL, RIL, ONGC, RIL, HUL, Tata Steel and HDFC are among the gainers, whereas Axis Bank, Infosys, ICICI Bank, M&M, Cipla and Dr.Reddy's are losing sheen on BSE.

Some buying activity is seen in oil & gas, metal, energy, utilities, telecom and power sectors, while IT and teck are showing weakness on BSE.

The INDIA VIX is down 1.05% at 14.7675. Out of 1,873 stocks traded on the NSE, 805 declined, 787 advanced and 281 remained unchanged today.

A total of 135 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

The rupee opened lower four paise at 66.56/$ against US Dollar Thursday as against the previous close of 66.50/$.

Sagar Cements Ltd is currently trading at Rs. 745.45, up by Rs. 11.6 or 1.58% from its previous closing of Rs. 733.85 on the BSE. Sagar Cements reported the cement production and sales figures for September 2016. The company's sales were up by 29% on a consolidated basis and lower by 15% on standalone basis.

Goa Carbon Ltd soared 16.5% to Rs 137. The company reported a net profit of Rs 4.62 crore in June quarter against net loss of Rs 2.96 crore. Its net sales increased 0.3% to Rs 79.03 crore.

NMDC Ltd is currently trading at Rs.116.05, up by Rs.4.6 or 4.13% from its previous closing of Rs.111.45 on the BSE. The company has fixed the prices of Lump Ore at Rs.2,100/WMT, while the prices of Fines have been fixed at Rs.1,760/WMT. The Ore prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

Jaiprakash Power Ventures Ltd is currently trading at Rs.4.55, up by Rs.0.41 or 9.9% from its previous closing of Rs.4.14 on the BSE. The company has informed BSE that meeting of the Board of Directors of the company will be held on October 6, to consider the recommendations of Committee of Directors (for Restructuring) regarding proposals of restructuring including divestment of one or more units and review the progress made in the reduction of company’s debt.

Indian Oil Corporation Ltd is currently trading at Rs. 652.5, up by Rs. 36.55 or 5.93% from its previous closing of Rs. 615.95 on the BSE, after fixing October 19 as the record date for the purpose of ascertaining the eligibility of shareholders, for issuance of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs.10 each for every one existing equity share of Rs.10 each held.

Grasim Industries Ltd is currently trading at Rs. 1008.05, up by Rs. 21.43 or 2.17% from its previous closing of Rs. 986.62 on the BSE. The company has fixed October 8, as the Record Date for the purpose of sub-division of each Equity Share of the Company having a face value of Rs 10 each fully paid-up into 5 Equity Shares of the face value of Rs 2 each fully paid-up.

Phillips Carbon Black advanced 1.9% to Rs.275 after the board approved amalgamation of Goodluck Dealcom unit with self.
 
Bosch gained 1.3% after the company plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.

Jindal Steel & Power Ltd tanked 5% to Rs.79.20. The company has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8% with about two-10 year maturities with banks, provident funds believed to be the investors.

Bharti Airtel is trading marginally lower at Rs.321.45 on the BSE. The company announced the launch of 4G data services in Gujarat as it rolls out services in Ahmedabad, thereby providing 4G in 17 circles across India.

Cosmo Films Ltd is currently trading at Rs. 419, up by Rs. 1.3 or 0.31% from its previous closing of Rs. 417.7 on the BSE. The company has entered into a definitive MOU for purchase of about 34 acres of industrial land adjacent to its existing manufacturing plant on 16 acres of land at Waluj, Aurangabad, Maharashtra for setting up new production facilities in due course.

Hexaware Tech slipped 1.6% to Rs.187. The company has opened a new global delivery centre in Bucharest, Romania.

Jubilant Life Sciences dropped 1.5% to Rs.635 on the BSE. The company said its wholly-owned subsidiary has received approval from the Australian health regulator Therapeutic Goods Administration (TGA) for Lyophilised kit for the preparation of injection used for lung scan.

ONGC inched up 1% to Rs.269. The Cabinet Committee on Economic Affairs has given its approval to an acquisition by ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, for 11% stake in JSC Vankorneft from Rosneft Oil Company (Rosneft), Russia’s national oil company.

Vedanta zoomed 3% after the company said it will raise up to Rs.12.50 bn through issuance of non-convertible debentures (NCDs).

Top 14 stocks in focus today: Bharti Airtel, Reliance Infrastructure, Bank of India

Bank of India and Syndicate Bank: Both the banks has taken a cue from the Reserve Bank of India and reduced marginal cost of fund based lending rates (MCLR) in the range of 5bps to 10 bps.

Reliance Infrastructure: Reliance Infrastructure is in pact to sell its power transmission assets to billionaire Gautam Adani's Adani Transmission, to raise funds to pare debt.

Bharat Electronics: The company plans to buy back 1.66 crore shares at a price of Rs.1,305 apiece. BEL fixed September 6 as record dates for the respective buybacks.

Bosch: Bosch plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.

Jindal Steel & Power Ltd: The company has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8% with about two-10 year maturities with banks, provident funds believed to be the investors.

Bharti Airtel Ltd: Bharti Airtel announced the launch of 4G data services in Gujarat as it rolls out services in Ahmedabad, thereby providing 4G in 17 circles across India.

UFO Moviez: UFO Moviez India Ltd informed BSE that the Company has filed an application of Scheme of Arrangement between UFO Moviez India Limited and Southern Digital Screenz India Pvt. Ltd., V N Films Pvt. Ltd., Edridge Ltd. and UFO International Ltd.

Hexaware Tech: The company has opened a new global delivery centre in Bucharest, Romania.

Alembic Pharmaceuticals: Alembic Pharma received the Establishment Inspection Report from the US health regulator for its formulation facility located at Panelav in Gujarat.

Jubilant Life Sciences: The company said its wholly-owned subsidiary has received approval from the Australian health regulator Therapeutic Goods Administration (TGA) for Lyophilised kit for the preparation of injection used for lung scan.

Pidilite Industries: The company said its arm in the US has initiated recall of Tempra and Finger paints over quality concerns.

ONGC: The Cabinet Committee on Economic Affairs has given its approval to an acquisition by ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, for 11% stake in JSC Vankorneft from Rosneft Oil Company (Rosneft), Russia’s national oil company.

Vedanta: Vedanta said it will raise up to Rs.12.50 bn through issuance of non-convertible debentures (NCDs).

Premier Explosives: Premier Explosives Ltd has announced that it has bagged a Rs278mn order from Bharat Dynamics Ltd.