Trading of Nifty 50 index futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 11 August 2016.
In overseas stock markets, most Asian stocks declined, following overnight losses in US stocks, with sentiment likely driven by Wednesday's oil price falls. US stocks closed slightly lower yesterday, 10 August 2016 with the S&P 500 index and Nasdaq Composite index retreating from record levels as crude-oil futures slumped following data on supply and production. The US Energy Information Administration reported an increase crude supplies last week, while Saudi Arabia revealed record crude production in July. Saudi Arabia is Organization of the Petroleum Exporting Countries (OPEC)'s largest oil producer.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 412.56 crore yesterday, 10 August 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 747.27 crore yesterday, 10 August 2016, as per provisional data.
Bharti Airtel turns ex-dividend today, 11 August 2016 for final dividend of Rs 1.36 per share for the year ended 31 March 2016 (FY 2016).
Among key corporate earnings, Grasim Industries and Aditya Birla Nuvo are scheduled to announce Q1 June 2016 results today, 11 August 2016.
Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received final approval for its Potassium Chloride Extended-Release Tablets USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the United States Food and Drug Administration (USFDA) to market a generic equivalent of Upsher-Smith Labs Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq. It is an electrolyte replenisher indicated for the therapeutic use of patients with hypokalemia, with or without metabolic alkalosis; in digitalis intoxication; and in patients with hypokalemic familial periodic paralysis. Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq had US annual sales of $101.3 million as per IMS MAT June 2016. The announcement was made after market hours yesterday, 10 August 2016.
NTPC announced that it has commissioned a 50 megawatts (MW) capacity of NP Kunta Ultra Mega Solar Power Project at Anantapuram. With this, the commercial capacity of NTPC group has become 45,928 MW. The announcement was made after market hours yesterday, 10 August 2016.
Power Finance Corporation turns ex-dividend today, 11 August 2016 for final dividend of Rs 0.60 per share for the year ended 31 March 2016 (FY 2016).
Dilip Buildcon (DBL) makes its debut on the secondary equity markets today, 11 August 2016. The company had priced its initial public offer (IPO) at Rs 219 per share, the top end of the 214-219 per share price band for the issue. DBL is one of the leading road-focused engineering, procurement and construction (EPC) contractors in India. From the proceeds of the fresh issue, DBL has earmarked Rs 430 crore towards repayment of term loans of around Rs 203.60 crore, Rs 200 crore for meeting working capital requirements and rest for general corporate purpose.
DBL's consolidated net profit rose 124% to Rs 196.60 crore on 56% growth in net sales to Rs 4315.40 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015). As of 31 March 2016, the company had order book of Rs 10800 crore. Government contracts accounted for 76.27% of the order book as on 31 March 2016.
Auto, pharma stocks and index heavyweights Reliance Industries and HDFC Bank led losses for the two key benchmark indices yesterday, 10 August 2016. The Sensex lost 310.28 points or 1.1% to settle at 27,774.88, its lowest closing level since 4 August 2016.
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