Skip to main content

Stock Market News - IRB Infra Jumps, Avenue Supermarts Falls

IRB Infra Jumps On Stake Sale Plans, Q1 Results Shares of Mumbai-based company extended gains for the second consecutive trading session and rose as much as 10.6 percent to Rs 105.80. The construction firm said it will sell stake in its road business to the Government of Singapore for Rs 4,400 crore, according to its stock exchange filing. The company will transfer nine of its build–operate–transfer assets into a private Infrastructure Investment Trust in, which IRB will hold a 51 percent controlling stake.


NEWS ALERT | YES Bank likely to launch Rs 2,000 cr QIP: CNBC TV18

-- YES Bank QIP could lead to around 10 percent equity dilution: CNBC TV18

Avenue Supermarts Falls After Promoter Plans To Cut Stake Shares of the DMart supermarket chain fell 4.6 percent, its biggest intraday decline in a month, to 1,421.05 each. Promoter Radhakishan Damani will divest up to 1 percent stake, or 62.3 lakh shares of the company, according to an exchange filing. Sale of shares to start from Aug. 8 and end on Sept. 14. Sale has been undertaken in the open market to comply with minimum public share-holding guidelines. After this, the promoter stake to come down from 81.2 percent to 80.2 percent.

Rupee Opens: The Indian rupee slipped in the early trade on August 7. It opened lower by 15 paise at 70.96 per dollar versus Tuesday's close 70.81.

Crude Update: Oil fell on Wednesday as the intensifying Sino-US trade dispute stoked worries over demand, although a drop in US crude inventories offered some support to prices.

CATCH-ALL MARKET UPDATES - 
  • Titan slips 4% on weak guidance
  • Tata Steel dips 3% ahead of Q1 earnings today
  • JK Lakshmi Cement gains 2% post Q1 results
  • Indiabulls Housing Finance slips 6% post-Q1 nos
  • IRB Infra jumps over 7% as GIC to invest Rs 4,400 crore in the Co
  • YES Bank climbs over 4% in early trade, the top gainer on S&P BSE Sensex
  • Paint stocks rally on fall in oil prices; Asian Paints, Berger Paints hit 52-week high
GIC to invest Rs 4,400 crore in road platform of IRB Infrastructure - Singapore’s sovereign wealth fund GIC on Tuesday announced it would invest Rs 4,400 crore in the road platform of IRB Infrastructure Developers. “According to the transaction, IRB will transfer nine of its build-operate-transfer assets to a private Infrastructure Investment Trust, in which IRB will hold a controlling stake of 51 percent,” the firm said. 

TOP GAINERS & LOSERS - 

Yes Bank, Hindalco, Bajaj Auto, IOC, Gail, and TCS are among major gainers on the indices, while losers are Indiabulls Housing, Lakshmi Vilas Bank, Titan, Tata Steel, Eicher Motors, Vedanta, Coal India, ICICI Bank, and NTPC. Among sectors, except metal other indices are trading with marginal gains. BSE midcap and smallcap are trading higher.

Indiabulls Housing Finance Worst Performer On Nifty Shares of Indiabulls Housing Finance fell as much as 8.6 percent to Rs 470.10 after the company announced its quarterly results for the three months ended June.


Market News | Bank Nifty | Rupee | Crude | Dollar | Infra | Top Gainers






Labels:

Comments

Post a Comment

Popular posts from this blog

Stock Market News - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

A salaried professional opting for a lower rate of tax under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. Removal of tax exemptions under Section 80C in the new tax regime could be a dampener for life insurance products as well as equity-linked savings schemes (ELSS) of mutual funds. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman said a salaried professional opting for a lower tax rate under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. “The removal of 80C benefit may pose a risk to new business volumes of life insurance companies,” said Kotak Institutional Equities in a report. Life insurance Tax exemptions are an important incentive for purchase of life insurance. To be eligible for exemption under Section 80C, the sum assured has to be 10 times the annual premium. This is part of the Rs 1.5 lakh limit under ...
13 comments
Read more

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...
4 comments
Read more

Stock Market News - FDC share price at 52-week high on GMP certificate from UK health regulator

The certificate came after a recent inspection of the company's facilities in Goa. FDC  share price touched a 52-week high of Rs 222, rising more than 5 percent in the morning trade on January 3 after the company received the good manufacturing practice (GMP) certificate from the UK's health regulator. The UK's Medicines and Healthcare Products Regulatory Agency also continued with its approved status for the company's two facilities in Verna, Goa. The GMP certificate was issued after a recent inspection of the two plants. At 1018 hours, FDC was quoting at Rs 218.00, up Rs 7.30, or 3.46 percent. The share price has risen 30 percent in the last three months. GNFC share price down 2% after DoT seeks Rs 15K cr in telecom dues DoT sent the company a demand notice for Rs 15,019 crore, taking to Rs 3.13 lakh crore the amount it has sought from non-telecom companies following a Supreme Court ruling. The share price of  Gujarat Narmada Valley Fertili...
3 comments
Read more