Key benchmark indices were trading lower in early trade, tracking mixed cues from other Asian stocks. At 9:21 IST, the barometer index, the S&P BSE Sensex, was down 7.49 points or 0.02% at 32,151.17. The Nifty 50 index was down 2.40 points or 0.02% at 10,090.65.
Among secondary barometers,the BSE Mid-Cap index was up 0.36%. The BSE Small-Cap index was up 0.22%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 569 shares rose and 310 shares fell. A total of 38 shares were unchanged.
Overseas, most Asian stocks were trading lower. All three major US stock indexes booked all-time closing highs on Tuesday, 12 September 2017. It marks the first time all three benchmarks finished at records on the same day since 26 July 2017. The Dow Jones Industrial Average rose 61.49 points, or 0.3%, to finish at 22,118.86. The S&P 500 added 8.37 points, or 0.3%, to close at 2,496.48. The Nasdaq Composite Index finished up 22.02 points, or 0.3%, at 6,454.28.
Back home, ICICI Bank was up 0.22%. The bank said that the Committee of Executive Directors of the bank at its meeting held yesterday, 12 September 2017 has approved the proposal for fund raising by way of issuance of Basel III compliant unsecured subordinated perpetual Additional Tier 1 Bonds. The announcement was made after market hours yesterday, 12 September 2017.
State Bank of India was up 0.24%. The bank said that the price band of the initial public offer 12 crore shares of its subsidiary, SBI Life Insurance has been fixed at Rs 685 to Rs 700 per share. The announcement was made after market hours yesterday, 12 September 2017.
Tata Motors was up 1.29%. The Tata Motors Group global wholesales in August 2017, including Jaguar Land Rover, were at 94,210 units, higher by 9%, over August 2016. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in August 2017 were at 35,352 units, higher by 17%, over August 2016. Global wholesales of all passenger vehicles in August 2017 were at 58,858 units, higher by 5%, compared to August 2016. The announcement was made after market hours yesterday, 12 September 2017.
Jet Airways (India) was down 0.52%. The company's net profit rose 106.72% to Rs 53.50 crore on 9.92% rise in net sales to Rs 5648.87 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 12 September 2017.
Shemaroo Entertainment was up 4.52%. The company's net profit rose 0.84% to Rs 16.85 crore on 7.62% rise in net sales to Rs 102.34 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 12 September 2017.
BPCL was up 0.71%. The company said that its board approved the draft scheme for the amalgamation of Petronet CCK, a wholly owned subsidiary of the company with itself. The announcement was made after market hours yesterday, 12 September 2017.
Infosys was up 0.28%. The company announced that it will open its North Carolina Technology and Innovation Hub in Raleigh. This innovation Hub is expected to hire 2,000 American workers by 2021. Towards its plan of hiring 10,000 jobs over 2 years, the company has already hired close to 1,200 American workers. The announcement was made after market hours yesterday, 12 September 2017.
The new hub, which will open in early 2018, will occupy 60,000 square feet in a new facility in Raleigh and has the capacity to house 500 workers representing another step forward in the company's previous announcement to hire American workers in the country. The company plans to hire the first 500 workers in Raleigh innovation hub within two years, with the remainder to be hired in the state by 2021.
Tata Global Beverages was up 0.87%. The company said that the company proposes to sell up to 1.05 crore shares of Tata Chemicals to Tata Sons. The transaction is expected to be executed on or after 18 September 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure. The announcement was made after market hours yesterday, 12 September 2017.
Dr Reddy's Laboratories was up 0.80%. Aurigene Discovery Technologies, a wholly-owned subsidiary of Dr Reddy's Laboratories, and Curis Inc., announced CA-170 program update following data presented at ESMO 2017. They announced plans to initiate a phase 2 trial of CA-170, a PDL 1-VISTA inhibitor to be conducted at sites in India. The announcement was made after market hours yesterday, 12 September 2017.
Indiabulls Housing Finance was down 0.03%. The company said that in terms of the board authorization dated 24 July 2017, the company has on 12 September 2017, allotted its fifth tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 125 crore. The announcement was made after market hours yesterday, 12 September 2017.
On macro front, India's industrial production rose 1.2% in July 2017 over July 2016, while snapping 0.2% decline for June 2017. The growth for June 2017 has been revised downwards to -0.2% from -0.1% reported earlier. The data was unveiled after market hours yesterday, 12 September 2017.
The all-India general consumer price index (CPI)-based inflation accelerated to 3.36% in August 2017, compared with 2.36% in July 2017. The data was unveiled after market hours yesterday, 12 September 2017.
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