Key benchmark indices were trading higher in early trade on positive Asian cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 111.32 points or 0.36% at 31,394.96. The Nifty 50 index was up 27.35 points or 0.28% at 9,660.95.
Among secondary barometers,the BSE Mid-Cap index was up 0.40%. The BSE Small-Cap index was up 0.55%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than three gainers against every loser on BSE. 960 shares rose and 292 shares fell. A total of 39 shares were unchanged.
Overseas, Asian shares edged higher as crude oil prices inched up after hitting a 10-month low overnight. In US, the S&P 500 and Dow industrials ended slightly lower overnight, weighed down by losses in the energy sector as oil prices continued to slide. But the Nasdaq Composite posted moderate gains thanks to a surge in biotechnology shares.
The S&P 500 index closed with a loss of 1.42 points, or less than 0.1%, at 2,435.61. The Dow Jones Industrial Average lost 57.11 points, or 0.3%, to 21,410.03. The Nasdaq Composite Index bucked the trend, closing 45.92 points, or 0.7%, higher at 6,233.95.
Back home, Reliance Communications was up 0.76%. The company clarified with regards to news titles 'Rcom puts Mumbai, Delhi real estate assets on the block to pare debt', that the company has initiated the monetization programme for its real estate properties. The announcement was made after market hours yesterday, 21 June 2017.
Piramal Enterprises was up 0.27%. The company announced that a meeting of the administrative committee of the board will be held on 27 June 2017 for consideration of issue of secured non-convertible debentures of upto Rs 500 crore on private placement basis. The announcement was made after market hours yesterday, 21 June 2017.
Tata Motors was up 0.87%. The company said that duly authorised committee approved offering for subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, 7.50% coupon, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore. The announcement was made after market hours yesterday, 21 June 2017.
Federal Bank was up 1.33%. The bank said that a committee meeting will be held on or after 27 June 2017 to consider the issue price of qualified institutional placement. The announcement was made after market hours yesterday, 21 June 2017. QIP opened on 21 June 2017 and floor price of Rs 117.04 per share has been fixed.
Mindtree was up 0.39%. The company has introduced Mindtree Integrated Services. The service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models. The announcement was made after market hours yesterday, 21 June 2017.
Integrated Services is powered by Mindtree CAPE, a customizable plug-and-play platform that integrates the enterprise technology landscape and accelerates the automation journey. It is equipped with converged capabilities of DevOps and Agile along with technologies like Robotic Process Automation and Cognitive Computing.
NHPC was up 0.88%. The company has signed a memorandum of understanding on 20 June 2017 with Ministry of Power, Government of India for year 2017-18. The salient features of the MoU include generation target under excellent rating has been set as 24000 MU as against last year target of 23500 MU. Excellent targets for revenue from operations has been kept as Rs 7350 crore. The announcement was made after market hours yesterday, 21 June 2017.
Operating profit as a % of revenue from operations (Net) has been kept as 25.09%. PAT/average networth has been kept as 7.15%. Ensure optimum utilisation of budget CAPEX programme of NHPC has been assigned 10% weightage in the MOU 2017-18.
Further, targets regarding plant availability Factor, Forced Outage and Reduction in outstanding claims, Trade Receivables, dividend/ PAT etc have been included in the MoU. Human Resources Management (HRM) related parameters have also been included with 10% weightage in the MOU.
Persistent Systems was down 0.70%. The company and Attivio announces Engage 360, on the salesforce AppExchange. Built on Attivio's Cognitive Search and Insights Platform, Engage 360 helps organizations improve customer service productivity and effectiveness with optimized turnaround on customer issues and cases, better mean time resolution, faster agent on-boarding and effective service supervision. The result is better customer satisfaction and loyalty, improved service staff productivity and fulfillment and higher customer and staff retention rates. The announcement was made after market hours yesterday, 21 June 2017.
Prism Cement was up 3.16%. The company announced that its step down joint venture, Sanskar Ceramic, has completed the expansion of 4.2 million m2 (MSM) per annum Vitrified Tiles capacity at its Dhuva plant, Morbi. The commercial production has commenced from 21 June 2017. With this expansion, the company would be able to reduce outsourcing of vitrified tiles from third party sources and become more self-reliant. The capacity of Sanskar now stands at 2.3 MSM of wall tiles and 4.2 MSM of vitrified tiles.
The overall capacity of H & R Johnson (India), a Division of Prism Cement, along-with its joint ventures and subsidiaries would stand at over 65 MSM per annum. The announcement was made after market hours yesterday, 21 June 2017.
Ashok Leyland was up 0.21%. The company announced that the board of directors of its subsidiary, Hinduja Leyland Finance at their meeting held on 23 May 2017 had decided withdraw the Draft Red Herring Prospectus (DRHP) and accordingly the DRHP had been withdrawn from SEBI on 16 June 2017. The announcement was made after market hours yesterday, 21 June 2017.
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