Indices end flat on F&O expiry; Sensex down 25 pts, Nifty below 10,400

All that happened in the markets today.

1:53 PM

News Watch: Balrampur Chini Mills approves buyback of shares for up to Rs 990 mn

Leading sugar firm Balrampur Chini Mills on Wednesday said it will buy back 2.81 per cent of the company's equity shares at a price of Rs 150 per piece.

The board has approved the buyback proposal in Wednesday's meeting.

It has fixed March 6, 2018, as record date to determine eligible shareholders, the company said in a regulatory filing. READ MORE

1:39 PM

February set to worst F&O series since November 2016; bank stocks worst hit

The equity markets set to post their worst performance in 15 months in the February future and option (F&O) series that will end today. At 12:25 pm; Nifty 50 index was trading at 10,351 and has slipped 6.5% thus far, most since the November 2016 F&O series. Derivatives contracts expire on last Thursday of every month.
 

In November 2016, Nifty recorded 7.5% fall in the F&O series, after the government announced the demonetisation of all Rs 500 and Rs 1,000 banknotes earlier that month. READ MORE

1:27 PM

Abbott excels on power of brands, outpaces MNC peers on sales growth

Abbott India, the listed subsidiary of the US-based pharma giant, has outpaced its multinational peers to register a 14.6 per cent growth in sales to Rs 25.19 billion in nine months of the current financial. READ MORE

An Abbott company logo is pictured at the reception of its office in Mumbai

1:06 PM

Market Check

 

S&P BSE Sensex	33,715.67		-0.38%
Nifty 50	10,352.50		-0.43%
S&P BSE 200	4,527.34		-0.39%
Nifty 500	9,132.05		-0.39%
S&P BSE Mid-Cap	16,368.24		-0.26%
S&P BSE Small-Cap	17,773.03		-0.15%

12:57 PM

Despite liberalisation, power demand to sustain Coal India's dominance

Despite opening up of the coal sector to private miners, Coal India's dominance in the field is expected to remain firm as the power sector will continue to bank heavily upon this state-owned coal monolith.

Coal India officials said that the company has a mandate to supply at least 75 per cent of the production to the power sector and the rest can be offered to others like cement and steel; however, the private miners are most likely to be exempted from the clause. READ MORE

12:38 PM

Sebi may tighten AIF regulations to better monitor the source of funding

The Securities and Exchange Board of India (Sebi) plans to tighten present Alternative Investment Funds (AIF) regulations to better monitor the source of funding and their end use.
 

According to sources, Sebi may check the anti-money laundering policies implemented by AIFs and examine the sanctity of any back-end arrangements an AIF may have with its investors, whereby money raised in AIFs is invested back in entities owned by the investors. READ MORE

12:28 PM

Adani may sell stake in Australia Carmichael Coal mine amid funding delay

The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises Ltd. conceded it would fail to meet a March deadline to arrange A$3 billion ($2.3 billion) in financing for the project.

The Indian conglomerate said it will also consider selling a minority stake in its Carmichael project without providing further details. READ MORE

File photo of a coal mine. Photo: Shutterstock

12:23 PM

BSE to launch cross-currency derivatives, cross INR options from Feb 27

Leading stock exchange BSE today said it will launch cross-currency derivatives and cross INR options next week, a move that will help increase liquidity in the market. The announcement comes after the exchange received markets regulator Sebi's approval for introducing cross currency derivatives (future and options) on pairs such as Euro (EUR)-US Dollar (USD), Pound Sterling (GBP)-USD and USD-Japanese Yen (JPY). READ MORE
 

12:07 PM

Kotak Securities on Indian economy

 

We expect MPC to maintain a status quo, at least through 1HCY18, as it awaits clarity on MSP, sustainability of high crude oil prices post winter squeeze, monsoons and global financial conditions. CPI Inflation outturns in 1HFY19 will be crucial in assessing RBI’s next move. We expect inflation to head towards 5.85% by June 2018 (5.6% as per RBI’s upper-bound in 1HFY19). Overall, even as MPC has sounded vigilant on upside risks, we reckon that amid still-subdued capacity utilization levels, and ‘need to carefully nurture’ the nascent recovery, MPC will be on a wait and watch mode

12:07 PM

New Fund Offer: Mirae Asset Short Term Fund

 

The NFO period of the fund will be from 23rd February to 9th March 2018. The fund will reopen for fresh purchases on and from 19th March, 2017. The Scheme will be investing in securities issued by corporate (both private sector and public sectors) including banks and financial institutions and Money Market Instruments across maturities/yield curve and ratings. 

 

The fund will mainly invest in AAA and AA corporate bonds. It may also invest in government securities across maturities/yield curve. Mahendra Jajoo, Head of Fixed Income will manage this fund

 

(Source: News Release)

12:06 PM

Sectoral Trend

12:02 PM

Markets at noon

 

S&P BSE Sensex	33,736.43		-0.32%
Nifty 50	10,360.35		-0.36%
S&P BSE 200	4,529.20		-0.35%
Nifty 500	9,138.60		-0.32%
S&P BSE Mid-Cap	16,370.10		-0.25%
S&P BSE Small-Cap	17,786.28		-0.08%

11:59 AM

MPC minutes: Govt bonds, rupee slump on RBI's increased inflation concerns

Indian bonds and the rupee weakened on Thursday morning after minutes of the central bank's February monetary policy meetings released on Wednesday showed increased concern among members on the accelerating inflation.

 

The MPC members expressed concern about continued inflationary risks, citing factors including high food and global crude prices and the government's decision to increase spending for the year starting in April to support a struggling agricultural sector. READ MORE

11:41 AM

Ipca Labs hits 52-week high; up 21% in 11 days post Q3 results

Ipca Laboratories hit a 52-week high of Rs 671, up 5% on the BSE in intra-day trade, extending its past 10 days gain, after the company reported more than doubled net profit for the quarter ended December (Q3FY18) on back of strong operational performance. In past 11 trading days, the stock of pharmaceutical company surged 20% from Rs 556 on February 6, as compared to 1.3% decline in the S&P BSE Sensex. READ MORE

11:27 AM

BSE Sensex: Sun Pharma, Yes Bank top gainers; ONGC, Dr. Reddy among top losers