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Sify Editors @ 4:15 PM
Heavy-weight losses throw a Monday jhatka for Sensex
D-street's losses piled up on Monday, after the Sensex lost 295.81 points or 0.93%. Currently the tally stands at 31626.63, this after Friday's massive 447 point loss.
The loss on Monday was little surprising, considering most brokerages had suggested a flat day. Geopolitical tensions, the strengthening dollar, and the nearing of F&O expiry date were the reasons.
The trading session saw most heavyweights reeling under immense selling pressure, with only one stock rising for 3 in the losing side.
The Sensex heatmap thankfully looks a little greener in comparison with the one on Friday. On Friday, only one stock traded in the green.
Coal India, ICICI Bank, Hindustan Unilever, Power Grid Corporation, Reliance and TCS, and two others remained in the green. While, Adani Ports, ITC, Larsen Toubro, Lupin ended the day with over 2% intra-day losses.
Realty stocks contributed heavily to the loss. It was down by 3.46% in intra-day losses. Basic Materials (1.98%), Healthcare (1.75%), Capital Goods (1.58%) were the top sectors in the loss.
The heatmap on the broader side was in the red too, with Next 50, BSE 100, BSE 200, and BSE 500 all recording major declines. The Small cap index was reeling under a 2.02% loss, while the large BSE Small cap index ended the day with a 1.82% decline.
Sify Editors @ 3:45 PM
TV Today Network hogs the limelight again, gains for 9th successive session
With the bulls staying put at the counter for a ninth successive session, it turned out to be another great outing for TV Today Network shares in the market on Monday.
The stock has been hogging the limelight for almost a month now, gaining about 76% - from around Rs 240 on 28 August 2017 - to Rs 422 (today's high), In fact, the stock has gained more than 50% in less than ten sessions. The day's high of Rs 422 is also a fresh all-time high for the stock.
Strong first quarter results buoyed up the stock last month. And, despite a few sluggish spells after that, has been gaining almost consistently since then.
T.V.Today Netwok reported standalone revenue of Rs 151 crore for the quarter ended June 2017, up 10.3% y-o-y, thnks to a massive 407% y-o-y increase in revenue from radio broadcasting.
For the quarter, EBITDA increased by 24.5% y-o-y to Rs 45.88 crore. EBITDA margin expanded 346 basis points to 30.4%. However, net profit was down 13.4% (y-o-y) at Rs 19.39 crore in the April - June 2017 quarter, due to a sharp 40% jump in interest expenses.
Sify Editors @ 3:15 PM
Novartis India to buy back shares worth over Rs 231 crore
Pharma major Novartis India on Monday said that it will buy back shares worth Rs 231.15 crore representing 12.26 per cent of the total paid up equity capital.
According to a BSE filing, the company's "Board of Directors" in a meeting held on Monday approved the proposal for a buyback of up to 3,450,000 equity shares of Rs 5 each at a price of Rs 670 per equity share.
"The buyback would be subject to approval of the share-holders of the company by way of a special resolution through postal ballot and all other applicable statutory approvals," the company informed the BSE in a regulatory filing.
"The board has constituted a buyback committee and delegated its powers to the buyback committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary expedient, usual or proper in connection with the buyback."
Sify Editors @ 2:55 PM
Capacit'e Infraprojects sheds some gains after soaring 60%
Even as several large and midcap stocks continue to feel the heat and languish in the red on sustained selling pressure amid rising worries about the ongoing spat between the U.S. and North Korea and on some heavy pull-out by foreign investors in recent sessions, Capacit'e Infraprojects has made a strong debut today.
The stock spurted to Rs 399 at the start, and after declining to Rs 335 subsequently, edged higher again and is currently at Rs 358, up 43% from the issue price of Rs 250.
On the National Stock Exchange, the Capacit'e Infraprojects counter has clocked a volume of nearly 14.8 million shares so far in the session. On BSE, the counter has recorded a volume of more than 2.8 million shares till now.
The IPO, which came at a price band of Rs 245 - Rs 250, evoked pretty good response from investors. The offer commenced on 13 September and closed a couple of days later. The issue was subscribed 183 times.
The qualified institutional buyers portion was oversubscribed 131.32 times, non-institutional investors 638.05 times and retail investors 17.57 times.
Prior to the IPO, Capacit'e Infraprojects raised Rs 120 crore from anchor investors. Capacit'e mopped up Rs 400 crore through share issue. The company said thtat it would be spending Rs 250 crore for capital requirements; an amount of Rs 51.95 crore for funding purchase of capital assets and balance towards general corporate purposes.
Sify Editors @ 12:45 PM
Shoppers Stop soars to record high as Amazon comes shopping
Shares of department stores chain Shoppers Stop Limited soared Monday morning, as Amazon picked up 5% stake in the company.
Shoppers Stop announced on Saturday (23 September 2017) that its board agreed to sell 5% of shares of the company to Amazon's investment arm.
The company said that its board gave its nod to the execution of commercial agreement with Amazon Seller Services. The board approved the issue of 43.96 lakh shares to Amazon.com NV Investment Holdings LLC, a foreign portfolio investor, registered with SEBI, at a price of Rs 407.78 per share, on a preferential basis.
Following the deal, Shoppers Stop can now list its entire portfolio of over 400 brands on Amazon.in and Amazon can set up experience centres across the physical network of the Raheja Corp Group's retail arm.
Shoppers Stop also announced that post the allotment of securities, Amazon shall not have ny any special rights under the Agreement and will only be entitled to exercise such rights that are exercisable by the ordinary shareholders of the company.
On BSE, the Shoppers Stop counter has clocked a volume of 1.28 lakh shares so far in the session, more than 9 times the average daily volume. On the National Stock Exchange, the counter has clocked a volume of about 1.03 million shares so far this morning.
Sify Editors @ 12:15 PM
Sensex, Nifty fall for fifth day led by L&T, HDFC Bank
Indian shares fell as much as one percent on Monday and extended losses for a fifth straight session, tracking weakness in Asian peers, with index heavyweights Larsen & Toubro Ltd and HDFC Bank Ltd dragging down the indexes.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.35 percent, while Chinese stocks remained shaky following the Federal Reserve's hawkish policy stance and S&P's downgrade of China's sovereign rating last week.
The Nifty was down 0.93 percent at 9,871.95 as of 0546 GMT, while the Sensex was 0.83 percent lower at 31,656.37.
"It's a clear case of correction out there with investors taking a more cautious approach in the near term," said Siddhartha Khemka, Head of research - Equity, Centrum Wealth.
Shares of HDFC Bank Ltd and Larsen & Tourbro Ltd fell 1.5 percent and 2.3 percent, respectively.
The Nifty PSU Bank index was down for a third straight session, sliding as much as 2.8 percent. Andhra Bank and Canara Bank Ltd lost more than 2 percent each.
Tata Steel Ltd was among the top percentage losers on the index, plunging more than 4 percent and pushing the Nifty Metal index lower.
Sify Editors @ 10:30 AM
Capacit'e Infraprojects shares surge nearly 60 percent on market debut
India's Capacit'e Infraprojects Ltd shares surged as much as 59.6 percent on its market debut on Monday after the company raised 4 billion rupees ($62 million) in an initial public offering earlier this month.
Shares in the company, which builds residential and commercial buildings, were trading at 363.20 rupees by 0432 GMT, 44.3 percent higher than the listing price of 250 rupees.
The offering was fully subscribed on the first day of the sale with investors bidding 183 times the total shares on offer by the end of the sale.
Sify Editors @ 9:30 AM
The Sensex in the Red
The Sensex was trading 144.84 points or 0.45 per cent lower soon after opening.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 49.10 points or 0.49 per cent lower at 9,915.30 points.
The Sensex of the BSE, which opened at 31,986.40A points, was trading at 31,777.60 points, lower 144.84 points or 0.45 per cent from the previous day's close at 31,922.44 points.
The Sensex touched a high of 32,016.52 points and a low of 31,761.96 points in the trade so far.
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