MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%
The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
10:28 AM
Shares of PC Jeweller hit an over two-year low of Rs 93.35 per share, falling 22% on the BSE in early morning trade after the company announced the withdrawal of proposed buyback offer due to the non-receipt of the NOC from the its bankers. The stock was trading at its lowest level since December 19, 2014. READ MORE![]()
PC Jeweller hits over 2-year low on withdrawal of buyback offer; falls 22%
Shares of PC Jeweller hit an over two-year low of Rs 93.35 per share, falling 22% on the BSE in early morning trade after the company announced the withdrawal of proposed buyback offer due to the non-receipt of the NOC from the its bankers. The stock was trading at its lowest level since December 19, 2014. READ MORE
10:13 AM
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Dr Reddy's slips 11% as US court prevents selling of Opioid treatment drug
Shares of Dr Reddy’s Laboratories have dipped 11% to Rs 2,070 per share on the National Stock Exchange (NSE) in early morning trade after the drug maker said that the preliminary injunction orders issued on Friday by a US court against the company on the launch of generic Suboxone, a sublingual film product indicated for treatment of opioid dependence. On the BSE, the stock slipped 9% to Rs 2,115 in intra-day trade so far. READ MORE
10:00 AM![]()
Market Check
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 36,560.43 | +18.80 | +0.05 |
| S&P BSE SENSEX 50 | 11,538.29 | +1.06 | +0.01 |
| S&P BSE SENSEX Next 50 | 31,750.33 | -160.69 | -0.50 |
| S&P BSE 100 | 11,239.81 | -7.28 | -0.06 |
| S&P BSE Bharat 22 Index | 3,317.10 | -6.74 | -0.20 |
(Source: BSE)
9:45 AM
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Seven IPOs worth Rs 140 billion to hit markets in the coming week
The IPO lane is getting busy as at least seven companies, including Lodha Developers and HDFC Mutual Fund, are expected to hit the capital market in the coming week to raise over Rs 140 billion.
The first among the lot would be TCNS Clothing, which sells its products under W, Aurelia and Wishful brands, that will launch its Rs 1,125-crore initial share-sale this week. READ MORE
9:31 AM
Nomura on Infosys
9:23 AM![]()
STOCKS IN NEWS
Just Dial to consider buyback of equity shares on July 20.
WABCO signed first power steering system export deal in India to supply Tata Motors.
Vedanta identified as “H1 Qualified Interested Bidder” for GMR Chhattisgarh Energy Ltd by consortium of lenders.
Cochin Shipyard signed shipbuilding contract with Inland Water Authority of India (IWAI) for design, construction and supply of Ten Ro-Ro Vessels. The total contract value is Rs 102.6 crore.
Aurobindo Pharma to acquire Apotex International Inc.’s commercial operations in five European countries for € 74 million.
Dr Reddy - In a case filed by Originator of Subaxone, the court has ruled that the companies have to resolve the pending patent case before Dr Reddy can launch the drug "at risk". This delays the launch and increases the probability of higher competition. Negative
Fine Organic Industries has signed agreement with Citi Bank NA, Jersey branch for availing external commercial borrowing of $18.75 million to finance the capital expenditure.
Adani Green Energy through its wholly owned subsidiary, Mahoba Solar (UP) Private Limited has won tender for setting up 300 Mwac solar generation project.
Nucleus Software Exports acquires remaining 4% stake in Avon Mobility Solutions, taking total stake to 100%.
KP Energy and GE India Industrial (P) Limited have signed up definitive agreements for development of 300MW Wind Power Project (120 Wind Turbine Generators of 2.5 MW each) at Kutch, Gujarat.
Mahanagar Gas installed its first CNG station in Uran.
The board of Life Insurance Corporation will meet to finalise the timeline for investing more than Rs12,000 crore in IDBI Bank, and will also draw up a roadmap on how it would bring down its stake to 15%, as per the directive of the insurance regulator.
(Source: Nirmal Bang report)
PC Jeweller withdrew buyback offer as it does not get NOC from bankers.
Just Dial to consider buyback of equity shares on July 20.
WABCO signed first power steering system export deal in India to supply Tata Motors.
Vedanta identified as “H1 Qualified Interested Bidder” for GMR Chhattisgarh Energy Ltd by consortium of lenders.
Cochin Shipyard signed shipbuilding contract with Inland Water Authority of India (IWAI) for design, construction and supply of Ten Ro-Ro Vessels. The total contract value is Rs 102.6 crore.
Aurobindo Pharma to acquire Apotex International Inc.’s commercial operations in five European countries for € 74 million.
Dr Reddy - In a case filed by Originator of Subaxone, the court has ruled that the companies have to resolve the pending patent case before Dr Reddy can launch the drug "at risk". This delays the launch and increases the probability of higher competition. Negative
Fine Organic Industries has signed agreement with Citi Bank NA, Jersey branch for availing external commercial borrowing of $18.75 million to finance the capital expenditure.
Adani Green Energy through its wholly owned subsidiary, Mahoba Solar (UP) Private Limited has won tender for setting up 300 Mwac solar generation project.
Nucleus Software Exports acquires remaining 4% stake in Avon Mobility Solutions, taking total stake to 100%.
KP Energy and GE India Industrial (P) Limited have signed up definitive agreements for development of 300MW Wind Power Project (120 Wind Turbine Generators of 2.5 MW each) at Kutch, Gujarat.
Mahanagar Gas installed its first CNG station in Uran.
The board of Life Insurance Corporation will meet to finalise the timeline for investing more than Rs12,000 crore in IDBI Bank, and will also draw up a roadmap on how it would bring down its stake to 15%, as per the directive of the insurance regulator.
(Source: Nirmal Bang report)
9:20 AM
Earnings Impact
9:19 AM
Sectoral Trend
9:18 AM
Top Sensex gainers and losers
9:16 AM![]()
Markets at Open
At 9:17 am, the S&P BSE Sensex was trading at 36,522 down 18 points while the broader Nifty50 index was ruling at 11,009, down 9 points
At 9:17 am, the S&P BSE Sensex was trading at 36,522 down 18 points while the broader Nifty50 index was ruling at 11,009, down 9 points
9:16 AM![]()
RESULTS CALENDAR
| Company name | Purpose | Meeting Date |
|---|---|---|
| HINDUSTAN UNILEVER LTD. | Quarterly Results | 16-Jul-18 |
| MAHARASHTRA SCOOTERS LTD. | Quarterly Results | 16-Jul-18 |
| OPTO CIRCUITS (INDIA) LTD. | Quarterly Results | 16-Jul-18 |
| Richirich Inventures Limited | Quarterly Results | 16-Jul-18 |
| 8K MILES SOFTWARE SERVICES LTD. | Audited Results | 17-Jul-18 |
| ASHOK LEYLAND LTD. | Quarterly Results | 17-Jul-18 |
| FEDERAL BANK LTD. | Quarterly Results | 17-Jul-18 |
| GOA CARBON LTD.-$ | Quarterly Results | 17-Jul-18 |
| HINDUSTAN MEDIA VENTURES LTD. | Quarterly Results | 17-Jul-18 |
| ICICI Lombard General Insurance Company Ltd | Quarterly Results | 17-Jul-18 |
| Integrated Capital Services Ltd | Quarterly Results | 17-Jul-18 |
| INDIAN METALS & FERRO ALLOYS LTD. | Quarterly Results | 17-Jul-18 |
| NALIN LEASE FINANCE LTD. | Quarterly Results | 17-Jul-18 |
| NUCLEUS SOFTWARE EXPORTS LTD. | Quarterly Results | 17-Jul-18 |
| RALLIS INDIA LTD. | Quarterly Results | 17-Jul-18 |
| SHRI DINESH MILLS LTD.-$ | Quarterly Results | 17-Jul-18 |
| TATA SPONGE IRON LTD. | Quarterly Results | 17-Jul-18 |
| ZEE ENTERTAINMENT ENTERPRISES LTD. | Quarterly Results | 17-Jul-18 |
9:08 AM![]()
INTERVIEW OF THE DAY India equities could outperform rest of Asia, says Manishi Raychaudhuri of BNP Paribas
The S&P BSE Sensex hit an all-time high last week. MANISHI RAYCHAUDHURI, BNP Paribas’ Asian Equity Strategist, tells Puneet Wadhwa that they have recently downgraded India to ‘Neutral’ rating from ‘Overweight’ in their Asian Model Portfolio, keeping the Sensex target unaltered at 37,500 by end-2018. READ MORE
The S&P BSE Sensex hit an all-time high last week. MANISHI RAYCHAUDHURI, BNP Paribas’ Asian Equity Strategist, tells Puneet Wadhwa that they have recently downgraded India to ‘Neutral’ rating from ‘Overweight’ in their Asian Model Portfolio, keeping the Sensex target unaltered at 37,500 by end-2018. READ MORE
Manishi Raychaudhuri
9:02 AM![]()
Markets at pre-open
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 36,591.14 | +49.51 | +0.14 |
| S&P BSE SENSEX 50 | 11,567.55 | +30.32 | +0.26 |
| S&P BSE SENSEX Next 50 | 31,988.96 | +77.94 | +0.24 |
| S&P BSE 100 | 11,276.34 | +29.25 | +0.26 |
| S&P BSE Bharat 22 Index | 3,334.44 | +10.60 | +0.32 |
(Source: BSE)
8:57 AM
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FPIs selling spree continues; withdraw Rs 12 bn from markets in July so far
Continuing their selling spree, foreign investors have pulled out nearly Rs 12 billion from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve.
The latest sell-off comes after foreign portfolio investors (FPIs) withdrew an amount close to Rs 500 billion from the debt markets in last five months (February to July). Prior to that, overseas investors had infused over Rs 85 billion in January. READ MORE
8:50 AM
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Commodity picks: July 16, 2018
Cotton
Benchmark cotton S6 prices in India are at an elevated level of Rs 48,000 per candy (356 kg). US cotton futures gave a very bullish reaction to the latest monthly world demand and supply update by USDA. Bullish global cues, and it being the fag end of the current season are expected to take the Indian cotton prices higher. Expect Indian cotton prices to touch Rs 49, 000 in the next few days. READ MORE
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First Published: Jul 16 2018 | 8:15 AM IST
