Winning ways continue on Dalal Street as the Indian equity indices extend gains to fourth consecutive trading sessions. A strong recovery in the global equity markets and long build up in the realty, power and OMC stocks lifted Nifty to cross past the 8300 mark for first time in 2016 while, Sensex moved past the psychologically 27,000 level. Nifty closed with a gain of 84 points at 8,288, while BSE Sensex ended with a gain of 259 points at 27,000.
On the global front, Asian markets closed in green. Hong Kong’s Hang Seng index and Nikkei 225 climbed 1% respectively. The Shanghai Composite index closed marginally lower.
Alembic Pharmaceuticals soared 4.8% to Rs.573 after the company informed BSE that the company’s API facilities i.e. API I and API II both located at Panelav have been successfully inspected by the USFDA between June 20, 2016 and June 29, 2016. The company did not receive any form 483 observations.
Binani Industries dropped 4% to Rs.83.35 after the Bombay High Court in an order asked secured creditors of its subsidiary Edayar Zinc to seek symbolic possession of immovable property.
Uttam Galva Steels galloped 12.4% to Rs.33.05 on BSE. The company experienced a spurt in volumes by more than 22.46 times.
Sagar Cements gained 1.7% to Rs 683. The company accorded its “In Principle” approval for the acquisition of the entire assets in the grinding unit of 1,81,500 tons per annum capacity in Andhra Pradesh, owned by Toshali Cements at a cost of around Rs.60 crores(including transaction cost).
State Bank of India gained 0.67% to Rs. 219. The company is planning to raise long term funds up to US$1,500 million (US$ one thousand five hundred million) in single / multiple tranches through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the Financial year 2016-17.
Setco Automotive climbed 8.5% to Rs.52.35. The company announced that the National stock Exchange of India Limited has granted its Listing permission to list and admit the Equity Shares of the Company on its bourse w.e.f. July 01, 2016 under Symbol Code: SETCO.
LT Foods zoomed 4.6% to Rs.250. The company incorporated a subsidiary named as “LT Foods International Limited” in United Kingdom for strengthening its presence in Europe.
Majesco rose 1.5% to Rs.537. The company signed agreement with iSIGN. Through this strategic partnership, Majesco will use iSIGN’s electronic signature solution to deliver Majesco’s solutions to its insurance customers enhancing their digital footprint.
Sree Sakthi Paper Mills zoomed 7.3% to Rs.8.55 after the company has received from Kerala State Pollution Control Board, Environmental Surveillance Centre, Ernakulam to stop the operation of the unit and to stop the discharge of effluent into river, the Company has stopped production at the Kraft paper unit I & II at Edayar from June 28, 2016.
L&T gained 1% to Rs.1,496 on BSE. With reference to the earlier announcements dated April 12, 2016 and June 28, 2016 in relation to the proposed Initial Public Offering of Equity Shares of the Company’s Subsidiary, L&T Infotech, Larsen & Toubro Ltd has announced that the Price Band has been fixed between Rs. 705 to Rs. 710 per equity share. A discount of Rs. 10 per equity share will be offered to retail individual bidders.
Future Enterprises surged 2.5% to Rs.24.80 on BSE. The company has executed Shareholders Agreement and Share Purchase Agreement for sale of 14% equity shares (12.75% holding of the Company and 1.25% holding of management team) of Future Supply Chain Solutions Limited, a subsidiary of the Company, to Griffin Partners Limited.Post sale of 12.75% stake of FSCSL, the Company will continue to be holding company of FSCSL and hold majority stake of 57.42% in FSCSL. The company has informed BSE that the Committee of Directors of the Company has considered, approved & allotted of 750,10.25% Secured Redeemable Non-Convertible Debentures of Rs. 10 lakh each, aggregating to Rs.75 crore, on private placement basis.
USDINR trade today trading up 14 paise at 67.53 per US dollar.
Out of 1,338 stocks traded on the NSE, 448 declined and 902 advanced today.
Top 5 Nifty Gainers: ITC Ltd (3.97%), Dr Reddys Lab (2.59%), BHEL (2.39%), L&T (2.20%) and Tata Steel (1.96%).
Top 5 Nifty Losers: NTPC (-0.58%), Maruti Suzuki (-0.52%), Asian Paints (-0.47%), Coal India (-0.45%) and Hero Motocorp (-0.41%)
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