Stock Market News - Tech Shares Decline, HDFC and Adani Green Surges

Tech Shares Decline - Wipro Falls Over 3% The NSE Nifty IT Index fell 1.06 percent, led by the declines in Wipro Ltd., Tata Elxsi Ltd., and Tata Consultancy Services Ltd.

HDFC Swings - On Acquisition Plans Shares of HDFC fluctuated between gains and losses to trade 0.58 percent higher at 2,188.10 The company plans to acquire 51.2 percent stake in Apollo Munich for Rs 1,347 crore. Post the acquisition, Apollo Munich will be merged with HDFC Ergo General Insurance. The proposed acquisition is expected to complete within four months and the proposed merger is expected.

CATCH ALL THE MARKET UPDATE

1. Wipro is among the biggest losers, slips nearly 4%

2. IFCI slips over 7%

3. Apollo Hospitals gains over 2%

4. UPL slips over 2% in early trade

5. IRB Infra tumbles nearly 10% in early trade

6. Lakshmi Vilas Bank slips 1% in trade

7. Reliance Capital skids 5% in trade

8. Bharat Financial Inclusion is trading over 1% lower

Rupee Opens: The Indian rupee opened higher by 20 paise at 69.48 per dollar on Thursday versus previous close 69.68.

Top Gainers & Losers - Axis Bank, Wipro, UPL, TCS, Infosys, Tech Mahindra, IRB Infra, Ashok Leyland, HCL Tech, Yes Bank, Britannia, and Maruti Suzuki are among major losers on the indices, while gainers were Indiabulls Housing, RIL ONGC, Eicher Motors, L&T and IOC. Except for energy and metal, all other sectoral indices are trading lower led by the IT, auto, FMCG, and pharma.

Adani Green Surges - After Winning Bid Shares of Adani Green Energy halted a four-day losing streak and rose as much as 5.7 percent to Rs 42. The company won bids for setting up 600 MW wind-solar hybrid power project by Solar Energy Corporation of India. The fixed PPA tariff is Rs. 2.69/ kWh for a period of 25 years. Project is expected to be commissioned by March 2021.

Jain Irrigation Slumps - After Block Deal Shares of Jain Irrigation Systems fell as much as 17.3 percent to Rs 16.30, the lowest in over 14 years. About 19.4 lakh shares of Jain Irrigation changed hands in a block deal, Bloomberg data showed. Buyer and sellers were not known immediately.

Indiabulls Housing surges 4 percent - Have zero exposure to Anil Ambani group companies. Sufficient profits in the company to take care of the provisions. Raised Rs 58,000 crore since September 2018.

Source

Comments

Stock Market Update - Avanti Feeds Gains, Tata Group Stocks Trade Mixed

Orient Electric Halts Two-Day Gaining Streak, Shares Fall 6% Shares of Orient Electric fell as much as 5.7 percent to Rs 184.05, halting a two-day gaining streak. The stock advanced 21 percent in the past 12 months compared to a 14 percent gain in the Sensex. Tata Group Stocks Trade Mixed After NCLAT Order Shares of the Tata Group companies traded mixed after the National Company Law Appellate Tribunal ruled that his dismissal as chairman of Tata Sons Ltd. was illegal. While restoring him to his original position as executive chairman of the Tata Group’s holding company, the NCLAT held that the resolution by Tata Sons board removing Mistry was illegal. Essel Propack Surges 16% To Record High Shares of Essel Propack rose as much as 16 percent, the most since Jan. 28, 2019, to hit an all-time high at Rs 175.45. Trading volume was more than seven times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may...

Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm. India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading...

Share market updates: Sensex falls 200 points, Nifty open lower at 10,850;Eicher Motors down 5%

Share market LIVE: The benchmark equity indices – Sensex and Nifty – opened on a lower note Wednesday even as the domestic markets rallied yesterday. The S&P BSE Sensex Index declined 0.6% intraday to 36,035.78 and the NSE Nifty 50 Index fell 0.38 percent to trade near 10,850. IT stocks — Tech Mahindra (1.13%) and Wipro (1.09%) — are the major gainers today. Eicher Motors leads the index losers list with a loss of 5.63%. Coal India, TATA Motors, Jet Airways, NMDC, LIC Housing Finance, Power Grid, and Glenmark Pharma are among the major stocks that will remain in focus throughout the day. Bharti Airtel share price ended the session 2.7% higher to 312.55, while HDFC share price gained by more than 1.9% to Rs 2,008. Yes, Bank share price zoomed more than 2% to hit the day’s high at Rs 185.90. Eicher Motors Worst Performer On Nifty After December Sales Fall 13%. Shares of Eicher Motors fell as much as 5.8 per cent, the most in over two months, to Rs 21,860. The comp...

Market Daddy | Share Bazar Live | Share Market News

Search This Blog