MARKET WRAP: Sensex ends 267 pts up; HUL, RIL HDFC twins among key gainers

Among the sectoral indices, the Nifty Auto index settled 1.25% higher led by a rise in the shares of Bajaj Auto, TVS Motos and Maruti Suzuki

12:52 PM

Lupin hits over four month high; stock rises 5% in two days

Shares of Lupin hit an over four month high of Rs 931 per share on Wednesday, rising 3% from the previous close and extending their 2% gain on the BSE on Tuesday. The stock of pharmaceutical company was trading at its highest level since January 29, 2018. In past one month, Lupin has outperformed the market by surging 23% as compared to 1.4% rise in the S&P BSE Sensex. READ MORE

12:40 PM

Chart of the Day: Shriram City Union Finance

12:36 PM

Food processing companies rise post announcement of MSP

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)
L T FOODS	61.80	57.10	4.70	8.23
KOHINOOR FOODS	39.90	37.80	2.10	5.56
VIRAT CRANE INDS	46.00	43.65	2.35	5.38
MANPASAND BEVER.	172.55	164.35	8.20	4.99
MAHAAN FOODS	16.90	16.10	0.80	4.97

12:31 PM

NEWS ALERT MSP for common variety paddy hiked by Rs 200/quintal

12:27 PM

NEWS ALERT MSP for paddy hiked by Rs 250/quintal

12:26 PM

NEWS ALERT Cabinet approves hike in MSP for Kharif crops  for 2018-19

12:14 PM

DE Shaw-Reliance joint venture surrenders membership on bourses

 

The joint-venture between petroleum major Reliance Industries Ltd (RIL) and global financial services firm DE Shaw has surrendered memberships at both the BSE and the National Stock Exchange (NSE), according to separate notifications issued by the two bourses.

 

DE Shaw India Securities had surrendered its membership, according to a September 14, 2017, National Stock Exchange (NSE) circular. The last trading date is seen to be July 30, 2014. READ MORE

11:58 AM

Markets at noon

S&P BSE Sensex	35,414.97		0.10%
Nifty 50	10,708.30		0.08%
S&P BSE 200	4,605.54		-0.01%
Nifty 500	9,146.55		-0.03%
S&P BSE Mid-Cap	15,336.48		-0.68%
S&P BSE Small-Cap	15,994.48		0.03%

11:50 AM

Special Report Berger Paints, V-Mart among Elara Capital's top 14 stocks in midcap basket

 

Midcaps stocks have under-performed their large-cap peers so far in calendar year 2018 (CY18). On a year-to-date (YTD) basis, the S&P BSE Sensex has moved up 4% as compared to a 14% fall in the BSE Midcap index.

 

Basis its analysis of the mid-cap stocks, Elara recommends 14 stocks in this segment where it sees potential despite the sharp fall. Click here for more

11:40 AM

Stock Alert Shriram Transport Finance posts sharpest fall in 19-months; stock tanks 18%

 

Shriram Transport Finance has tanked 18% to Rs 1,066, its sharpest fall in past 19-months on the BSE on concerns of a possible default in payment of interest on its non-convertible debentures (NCDs). The management, however, has clarified regarding the issue.

 

The stock has underperformed the market by falling 31% from its recent high of Rs 1,543 on May 28, 2018, as compared to 0.51% rise in the S&P BSE Sensex. READ MORE

11:30 AM

Top Nifty50 gainers

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
LUPIN	927.00	903.10	23.90	2.65	3050047
DR REDDY'S LABS	2324.75	2273.75	51.00	2.24	495328
SUN PHARMA.INDS.	584.15	573.60	10.55	1.84	3612878
BAJAJ FINSERV	5976.95	5885.20	91.75	1.56	83721
INDIABULLS HOUS.	1140.30	1125.50	14.80	1.31	462321

11:19 AM

Anil Agarwal faces shareholder resistance to $1 billion Vedanta bid

$1 billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private.

 

Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were prepared to back an 825 pence-a-share bid from Agarwal's family trust, Volcan, to acquire the 33.5 per cent of the company that it does not already own and delist the group. READ MORE

11:06 AM

Kwality down 5% as board defers proposed share buyback and bonus issue plan

Shares of Kwality hit an over four-year low, locking in the lower circuit of 5% at Rs 20.65 per share on the BSE, after the company said its board has deferred the proposed share buyback and bonus issue. The stock of dairy products company was trading at its lowest level since October 8, 2013. READ MORE

10:47 AM

Higher LNG prices better for GAIL outlook; other businesses appear strong

Shares of Gas Authority of India or GAIL have recovered 12 per cent in the past few weeks, after falling almost 20 per cent from December highs, as concerns over its profitability are easing. Moreover, with its other business segments doing well and valuations now favourable, analysts see more gains for the stock. READ MORE

10:32 AM

NEWS ALERT 

The seasonally adjusted Nikkei India Services Business Activity Index rose from 49.6 in May to 52.6 in June. The latest upturn pointed to solid growth that was the fastest since last June. According to anecdotal evidence, the rise in activity was supported by greater inflows of new work.

Meanwhile, the seasonally adjusted Nikkei India Composite PMI Output Index rose from 50.4 in May to 53.3 in June, supported by output growth in both the manufacturing and service sectors. The latest reading was the strongest seen since October 2016 and indicative of a solid rate of expansion.