Key benchmark indices were trading higher in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 92.69 points or 0.28% at 33,463.45. The Nifty 50 index was up 30.05 points or 0.29% at 10,380.20.
Among secondary barometers,the BSE Mid-Cap index was up 0.44%. The BSE Small-Cap index was up 0.35%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,030 shares rose and 483 shares fell. A total of 42 shares were unchanged.
Overseas, Asian stocks were mixed. Geopolitics remain a focus as US President Donald Trump continues his tour of Asia, wrapping up his visit to Seoul on Wednesday and then head to China. Investors were also keeping a wary eye on Saudi Arabia's sweeping anti-graft purge and an escalation of tensions with Iran.
In US, Dow industrials eked out a small gain on Tuesday to end in record territory, but the broader market was weighed down by a selloff in financials, consumer discretionary and small-cap stocks amid concerns over the timing and ultimate shape of tax legislation working its way through Congress. The Dow Jones Industrial Average ended with a gain of 0.4%. The S&P 500 index closed less than a point lower at 2,590.64. Meanwhile, the Nasdaq Composite Index declined 0.27%.
Back home, Bharti Airtel was down 2.75%. The company on 7 November 2017 announced Data Rollover' facility for its home broadband customers. With this, all unused monthly data will be carried forward and added to the data benefit of the next billing cycle, further enhancing the value proposition for customers. Customers can accumulate up to 1,000 GB data and easily track their usage and balance data available on MyAirtel App.
George Mathen, CEO - Homes, Bharti Airtel, said that with this innovation, the company's home broadband users no longer have to worry about their unused data, which will always be available to them. Home broadband continues to drive the massive growth of in-home consumption of online content and the combination of Airtel V-Fiber and 租ata rollover' will enable a truly world-class experience for today's digital homes," George Mathen said. The announcement was made after market hours yesterday, 7 November 2017.
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Hero MotoCorp was up 0.75%. The company on 7 November 2017 unveiled the Xpulse Concept motorcycle as a world premier at the EICMA in Milan, Italy. An Adventure Concept bike, the Xpulse Concept provides a glimpse into Hero's plans to expand further into higher engine capacity segments. The company's motorsport division, the Hero MotoSports Team Rally, also presented its plan for the upcoming Dakar Rally 2018, including its new motorcycle, which the pilots will ride at the Rally. The announcement was made after market hours yesterday, 7 November 2017.
Akzo Nobel India was up 1.06%. The company said that the board of directors of the company at its meeting held on 7 November 2017 has recommended the sale and transfer of the company's Specialty Chemicals Business (hereinafter referred to as 'Chemical Business') to an affiliate of AkzoNobel N.V., Netherlands, as going concern on a slump sale basis for a consideration of Rs 320 crore. The transaction is subject to approval of the shareholders and other approvals from statutory and regulatory authorities, if any. The announcement was made after market hours yesterday, 7 November 2017.
EPC Industrie was up 0.83%. The company has commenced the commercial production at its new manufacturing plant situated at Vadodara. The announcement was made after market hours yesterday, 7 November 2017.
Himatsingka Seide was down 1.51%. The company's board approved an investment of 26% (Upto Rs 50 lakh) of voting equity share capital in Himatsingka Energy. The announcement was made after market hours yesterday, 7 November 2017.
The company's consolidated net profit rose 9.7% to Rs 50.56 crore on 12.11% rise in total income to Rs 592.27 crore in Q2 September 2017 over Q2 September 2016.
Prestige Estate Projects was down 3.41%. The company's net profit fell 23.8% to Rs 50.90 crore on 24.3% rise in net sales to Rs 599.60 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 7 November 2017.
Eicher Motors was up 0.41%. The company said that reviving its rich twin heritage, Royal Enfield, the global leader in mid-size motorcycle segment (250-750cc), unveiled its ground-up modern twin motorcycles the Interceptor INT 650 and the Continental GT 650 at the EICMA Motor Show, Milan. The announcement was made after market hours yesterday, 7 November 2017.
Axis Bank was up 3.32%. The bank's board of directors will meet on 10 November 2017 to consider raising of funds by issue of equity/equity linked securities through permissible mode at an appropriate time. The announcement was made after market hours yesterday, 7 November 2017.
Adani Ports & Special Economic Zone was up 0.32%. The company's board of directors will meet on 13 November 2017 to consider issuing non-convertible debentures by private placement basis in one or more tranches within the limits approved by the shareholders at the AGM on 9 August 2017. The announcement was made after market hours yesterday, 7 November 2017.
Alembic Pharmaceuticals was up 1.42%. The company's consolidated net profit rose 1.4% to Rs 121.56 crore on 10.2% decline in net sales to Rs 789.29 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 7 November 2017.
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