The movement for key benchmark indices remained confined to a narrow range. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 156.66 points or 0.61% at 25,932.40. The Nifty 50 index was up 42.60 points or 0.54% at 7,874.20. The market breadth indicating the overall health of the market was strong. On BSE, 1,557 shares rose and 929 shares fell. A total of 214 shares were unchanged. The BSE Mid-Cap index was up 0.35%. The BSE Small-Cap index was up 0.54%. Both these indices underperformed the Sensex.
In overseas stock markets, Asian stocks witnessed a mixed trend. US stocks ended little changed in a thinly traded preholiday session yesterday, 25 November 2015.
Most power generation stocks edged higher. GMR Infrastructure (up 3.29%), Reliance Infrastructure (up 1.62%), Jaiprakash Power Ventures (up 1.57%), NTPC (up 1.03%), Reliance Power (up 1.02%), NHPC (up 0.53%), Torrent Power (up 0.38%) and Adani Power (up 0.17%), edged higher. Tata Power (down 0.15%), JSW Energy (down 0.58%) and CESC (down 0.84%) edged lower.
FMCG shares were mixed. Colgate Palmolive (India) (up 1.17%), Britannia Industries (up 0.90%), Procter & Gamble Hygiene & Health Care (up 0.61%), Tata Global Beverages (up 0.60%), Hindustan Unilever (up 0.55%) and Dabur India (up 0.49%), edged higher. Jyothy Laboratories (down 0.07%), Marico (down 0.07%), GlaxoSmithKline Consumer Healthcare (down 0.08%), Godrej Consumer Products (down 0.16%), Nestle India (down 0.67%) and Bajaj Corp (down 0.95%), edged lower.
Reliance Industries (RIL) rose 1.46% to Rs 982.15 after the company said it has repaid the third installment of redemption proceeds on the outstanding debentures. On 24 November 2015, RIL repaid the third installment of redemption proceeds on the outstanding debentures. After the payment of the third installment of redemption, the face value of the debentures has been reduced from Rs 6.66 lakh to Rs 5 lakh per debenture effective 24 November 2015, RIL said. It may be recalled that RIL had issued 8,000 secured redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 800 crore in November 2003. The debentures carry a coupon of 6.25%. As per the terms of issue of the debentures, the debentures shall be redeemed in six equal annual installments starting from the end of the tenth year from the date of allotment i.e. 24 November 2003.
Lumax Auto Technologies jumped 10.86% after the company announced its entry into the Indian aerospace and defence sector by formation of its new joint venture with an Italian company. Lumax Auto Technologies said it formed a new joint venture (JV) with SIPAL S.p.A of Italy (part of the Turin based Euro 240 million FININC S.p.A. group). As per the JV agreement, Lumax will hold 51% equity with management control over the JV and SIPAL S.p.A. will hold 49% equity in the new JV company under formation as "Lumax SIPAL Engineering". The proposed JV is expected to become operational in the year ending 31 March 2017 and will be a full service provider for all types of integrated logistic support engineering with a strong knowledge and experience in technical publishing, product/manufacturing engineering, process engineering, design and manufacture of toolings, design of systems of production lines related to the aerospace, defence & automotive sectors. SIPAL S.p.A. has presence in aerospace and defence, automotive and electronics sector.
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