 "ACC, Ambuja Cements, Oil India, Eros International hit 52-week low")
ACC, Ambuja Cements, Oil India, Eros International, Apollo Tyres, Larsen & Toubro (L&T) and Bharat Heavy Electricals Limited (BHEL) have hit their respective 52-week lows in intra-day trade today on the Bombay Stock Exchange (BSE).
Oil India has dipped 8% to Rs 342 in early morning trade on the BSE after the company removed from the MSCI India index with effect from November 30. At 12:07 PM, the stock was down 5% at Rs 355.
Ambuja Cements (Rs 189) and ACC (Rs 1,302), in which Swiss building material major Holcim has a majority stake, touched their respective 52-week lows. Both these stocks were down 1% each on the BSE.
While, announcing September quarter results on October 28, Ambuja Cements said the scheme of amalgamation of Holcim India Pvt Ltd with it has been approved by the High Courts of Delhi and Gujarat.
The scheme was recommended by the Foreign Investment Promotion Board (FIPB) and the same is pending with the Cabinet Committee on Economic Affairs (CCEA). The scheme will allow Ambuja Cements to control a 50.1% stake in cement maker ACC, it added.
Eros International Media has locked in lower circuit of second straight trading day, down 10% at Rs 214 on the BSE, its lowest level since July 2014. In past one-month, the market value of the company engaged in movies & entertainment more than halved from Rs 459.
L&T (up 1.5% at Rs 1,352) and BHEL (up 1% at Rs 180) have recovering by 2% each from their 52-week lows. L&T hit low of Rs 1,326, while BHEL touched low of Rs 176 on the BSE in intra-day trade.
Prime Minister Narendra Modi has projected an 8% growth rate for India next year. CLICK HERE TO READ FULL REPORT.
Apollo Tyres too moved higher by 3% at Rs 160, bouncing back 6% from its 52-week low of Rs 151, after the company said its board approved the acquisition of Reifencom GmbH through a wholly owned subsidiary of the company.
Oil India has dipped 8% to Rs 342 in early morning trade on the BSE after the company removed from the MSCI India index with effect from November 30. At 12:07 PM, the stock was down 5% at Rs 355.
Ambuja Cements (Rs 189) and ACC (Rs 1,302), in which Swiss building material major Holcim has a majority stake, touched their respective 52-week lows. Both these stocks were down 1% each on the BSE.
While, announcing September quarter results on October 28, Ambuja Cements said the scheme of amalgamation of Holcim India Pvt Ltd with it has been approved by the High Courts of Delhi and Gujarat.
The scheme was recommended by the Foreign Investment Promotion Board (FIPB) and the same is pending with the Cabinet Committee on Economic Affairs (CCEA). The scheme will allow Ambuja Cements to control a 50.1% stake in cement maker ACC, it added.
Eros International Media has locked in lower circuit of second straight trading day, down 10% at Rs 214 on the BSE, its lowest level since July 2014. In past one-month, the market value of the company engaged in movies & entertainment more than halved from Rs 459.
L&T (up 1.5% at Rs 1,352) and BHEL (up 1% at Rs 180) have recovering by 2% each from their 52-week lows. L&T hit low of Rs 1,326, while BHEL touched low of Rs 176 on the BSE in intra-day trade.
Prime Minister Narendra Modi has projected an 8% growth rate for India next year. CLICK HERE TO READ FULL REPORT.
Apollo Tyres too moved higher by 3% at Rs 160, bouncing back 6% from its 52-week low of Rs 151, after the company said its board approved the acquisition of Reifencom GmbH through a wholly owned subsidiary of the company.