Companies and Markets

Companies & Markets

WDM witnesses trade worth Rs 4,400.90 cr on NSE

The wholesale debt market segment of the National Stock Exchange today witnessed a total turnover of Rs 4,400.90 crore in 101 trades.
Top securities (non-repo) traded at the WDM were: The 7.80 per cent government securities maturing in CG2020 traded value at Rs 700.00 crore at weighted yield of 6.54 per cent, the 8.13 per cent government securities maturing in CG2022 traded value at Rs 250.00 crore at weighted yield of 6.70 per cent and the 8.33 per cent government securities maturing in CG2026 traded value at Rs 200.00 crore at weighted yield of 6.92 per cent, NSE release said.

BSE introduces new framework for enhanced monitoring of cos

Leading stock exchange BSE has put in place 'S+ Framework' for enhanced monitoring of companies which are exclusively traded on its platform.
The 'S+ Framework', which would be in addition to the existing surveillance measures, would also keep a check on shares which witness price rise not commensurate with their financial health and fundamentals like earnings, or witness spurt in volumes without any corporate event.

IT stocks continue to see selling pressure, down up to 3.6%

IT stocks continue to witness selling pressure for the second straight session today, falling by up to 3.6 percent amid rising concerns as the sector is facing challenges on multiple fronts including stricter visa regime in key markets.
Shares of TCS fell by 3.59 per cent, HCL Tech lost 1.30 percent, Hexaware Tech came down by 0.63 per cent, Infosys (0.54 per cent), Tech Mahindra (0.54 per cent) and Wipro (0.06 per cent) on BSE.
TCS was the biggest drag on the BSE benchmark Sensex.
The BSE IT index declined by 1.33 per cent to close at 10,178.03.

RCom shares extend losses; end over 3% lower

Shares of Reliance Communications fell by more than 3 percent today, continuing the downtrend on sluggish investor sentiment after Fitch and Moody's Investors Service further downgraded the company's credit ratings.
The stock went down by 3.10 percent to close at Rs 18.75 on BSE. During the day, it declined by 3.61 per cent to Rs 18.65.
At NSE, shares of the company slipped 3.10 per cent to end at Rs 18.75.
On the volume front, 36.59 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

Sensex succumbs to profit-booking, down 58 pts

In a volatile session, the BSE benchmark Sensex today fell by nearly 58 points to 31,213 on profit-booking in recent gainers by investors, who maintained a cautious stance ahead of UK polls and the ECB meeting.
Moreover, the domestic market sentiment was hit by the Reserve Bank pegging GDP growth for the current fiscal lower at 7.3 per cent and saying that rush for farm loan waivers may have inflationary spillovers.

Sensex slips 22 pts in early trade on global cues

Reversing early gains, the Sensex today declined nearly 22 points today as weak global cues turned investors cautious.
Besides, the market sentiment was hit by the Reserve Bank pegging GDP growth for the current fiscal lower at 7.3 per cent and saying that rush for farm loan waivers may have inflationary spillovers.
The 30-share Sensex was trading 21.53 points lower at 31,249.75 in the early deals. The NSE Nifty fell 14.85 points to 9,649.05.
Among the laggards were sectors such as IT, Tech, Realty, Oil and Gas, Power, Bank and PSU, falling up to 2.31 per cent.

Stocks of housing finance firms, banks vault

Stocks of select housing finance companies and public sector banks gained after the RBI reduced the risk weight on high value home loans and cut statutory liquidity ratio (SLR) for banks by 50 basis points to 20 per cent.
The gainers on the BSE included lenders catering to the affordable housing segment, led by Can Fin Homes (up 5.23 per cent), PNB Housing Finance (5.73 per cent), Gruh Finance (2 per cent), DHFL (1.47 per cent) and LIC Housing Finance (0.41 per cent).
Top home financier HDFC, however, fell 0.53 per cent and Indiabulls Housing Finance closed flat.

Reliance Group mulls MF unit IPO; eyes Rs 20K cr valuation

Anil Ambani-led Reliance Group plans to come out with an initial public offering (IPO) this financial year for its mutual fund arm, Reliance Nippon Life Asset Management (RNAM). The company is expected to have a valuation of about Rs 20,000 crore.
It could be the first initial public offering by a large asset management company (AMC) in India, though smaller rival UTI MF's IPO plans have been in the works for long.

IT stocks fall after Infy COO admits pricing pressure

Infosys chief operating officer (COO) Pravin Rao’s (in pic) negative outlook on the IT sector led to big price erosion of 1 to 5 per cent in top IT stocks on Wednesday. Shares of information technology or IT companies fell sharply in the range of 3 to 4 per cent intra-day following Infosys COO’s comment on pricing pressure, but later made a modest recovery.

Shanghvi loses $14b in 2 years

Dilip Shanghvi’s shrinking fortune has become one of the most visible casualties of the troubles hitting India’s generic drug industry. Once India’s richest person, he recently slipped toNo. 6 with his fortune dropping $14.1 billion from its peak about two years ago.