Sensex registers small gains
A divergent trend was witnessed among various index constituents, with the two key benchmark indices registering minuscule to small gains. The barometer index, the S&P BSE Sensex, rose 45.35 points or 0.17% to settle at 26,079.48. The 50-unit Nifty 50 index rose 3.80 points or 0.05% to settle at 7,928.95. The Sensex regained the psychological 26,000 level after falling below that mark in intraday trade. The Sensex, and the Nifty, both, attained their highest closing level in almost four weeks.
Cement stocks gained. Shares of public sector banks declined. Shares of private sector banks rose. Bharat Heavy Electricals (Bhel) fell on reports that the Expert Appraisal Committee (EAC) under the Ministry of Environment and Forests (MoEF) has deferred terms of reference (ToR) for Bhel's Yadadri thermal power project in Telangana due to ecological concerns. Shares of two-wheeler makers rose.
In overseas stock markets, European stocks edged higher as crude oil prices stabilised on the back of prospects for lower temperatures in the United States and Europe. Earlier during the global day, Asian stocks ended higher. US stocks edged lower yesterday, 28 December 2015, weighed down by a drop in energy stocks as global crude oil prices fell.
The Sensex rose 45.35 points or 0.17% to settle at 26,079.48, its highest closing level since 2 December 2015. The index gained 99.65 points or 0.38% at the day's high of 26,133.78. The index shed 39.68 points or 0.15% at the day's low of 25,994.45.
The Nifty rose 3.80 points or 0.05% to settle at 7,928.95, its highest closing level since 2 December 2015. The index rose 17 points or 0.21% at the day's high of 7,942.15. The index fell 22.40 points or 0.28% at the day's low of 7,902.75.
The BSE Mid-Cap index rose 0.42%, outperforming the Sensex. The BSE Small-Cap fell 0.13%, underperforming the Sensex.
The market breadth indicating the overall health of the market was negative. On BSE, 1,472 shares fell and 1,180 shares rose. A total of 259 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Consumer Discretionary Goods & Services index (up 0.53%), BSE Finance index (up 0.41%), BSE Telecom index (up 0.72%) and BSE Auto index (up 0.56%) outperformed the Sensex. The S&P BSE FMCG index (down 0.42%), BSE Industrials index (down 0.33%), BSE Capital Goods index (down 0.46%), BSE Metal index (down 0.42%) and BSE Realty index (down 0.92%) underperformed the Sensex.
Index heavyweight and housing finance major HDFC rose 0.69% at Rs 1,233.75. The stock hit a high of Rs 1,239 and a low of Rs 1,225.80 in intraday trade.
Shares of public sector banks declined. Central Bank of India (down 1.29%), Union Bank of India (down 0.95%), Bank of India (down 0.93%), Bank of Baroda (down 0.79%), IDBI Bank (down 0.44%), Punjab National Bank (down 0.25%) and State Bank of India (down 0.15%) edged lower. Corporation Bank (up 2.63%), United Bank of India (up 0.23%) and Indian Overseas Bank (up 0.16%) edged higher.
Shares of private sector banks rose. Axis Bank (up 0.78%), ICICI Bank (up 0.4%), IndusInd Bank (up 0.4%), HDFC Bank (up 0.36%), Kotak Mahindra Bank (up 0.12%) and Yes Bank (up 0.05%) edged higher.
Cement stocks gained. ACC (up 1.61%), Ambuja Cements (up 1.61%) and UltraTech Cement (up 0.55%) edged higher. Shree Cement (down 0.87%) edged lower.
Grasim Industries rose 1.34% at Rs 3,745. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Shares of two-wheeler makers rose. TVS Motor Company (up 2.73%), Bajaj Auto (up 1.76%) and Hero MotoCorp (up 1.18%) edged higher.
Bharat Heavy Electricals (Bhel) fell on reports that the Expert Appraisal Committee (EAC) under the Ministry of Environment and Forests (MoEF) has deferred terms of reference (ToR) for Bhel's Yadadri thermal power project in Telangana due to ecological concerns. The stock shed 1.75% to settle at Rs 168.65. An NGO had raised concerns on the tributary of the Krishna River flowing through the project's site in October 2015 and the answers provided on the issue by Telangana State Power Generation Corporation (TSGENCO) were verbal and unclear, reports suggested.
Bhel had announced on 2 June 2015 that it had secured the single-largest order in its history from TSGENCO for setting up a 4,000 megawatts supercritical thermal power project. The order valued at Rs 17950 crore is one of the highest value orders ever placed in the capital goods sector in India, Bhel said at that time. Media reports suggested that the Rs 17950 crore Yadadri thermal power project order formed 81% of Bhel's order inflows in the first half of the current financial year.
Meanwhile, Bhel announced during market hours today, 29 December 2015, that it has commissioned another 660 megawatts (MW) supercritical thermal power plant at the upcoming 3x600 MW Prayagraj Super Thermal Power Project (STPP) at Bara in Allahabad district of Uttar Pradesh. One more 660 MW unit at Lalitpur, also in Uttar Pradesh, and two units of 660 MW each at Bara are in advanced stage of construction, Bhel said. In addition, one 500 MW unit at Anpara thermal power station in Uttar Pradesh is also nearing completion, the company added.
Bhel has already commissioned 4,410 MW of power plants in the utility sector during the current financial year and is on track to achieve the target set by the government for the year, the company said in a statement.
Tata Power Company declined 0.81% at Rs 67.05. The stock hit a high of Rs 67.90 and a low of Rs 66.75 in intraday trade. The company said during market hours today, 29 December 2015, that Coastal Gujarat Power (CGPL), a 100% subsidiary of the company, has refinanced its outstanding rupee loan. The refinancing will help in extending the tenure of the rupee facility and also help in reducing the interest cost for CGPL. The total interest savings will be 2% or approximately Rs 77 crore per annum on Rs 3864 crore of refinancing, Tata Power said in a statement.
Lupin gained 0.15% at Rs 1,843.95 after the company announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its Fyavolv Tablets, a generic version of Warner Chilcott's Femhrt Tablets. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product in the US shortly, Lupin said in a statement. Lupin's Fyavolv Tablets are indicated for the treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Femhrt had annual sales of $39.9 million in the United States as per IMS MAT September 2015 data. The company made the announcement after market hours yesterday, 28 December 2015.
Infosys rose 0.19% at Rs 1,103.75 after the company announced the launch of its solar PV power plant of 6.6 megawatts (MW) capacity at its Pocharam campus in the state of Telangana. With this launch, combined with the existing 0.6 MW capacity rooftop solar plant, the Infosys campus in Pocharam will be one of the first corporate campuses in India that will be run completely by renewable energy.
The construction of phase-2 at Infosys' campus at Pocharam SEZ is currently underway, with a planned capacity of 25,000 employees. An area has been reserved to construct phase-3 at the campus.
Jindal Steel & Power (JSPL) rose 0.22% at Rs 90.80. The company's board of directors has approved giving the lenders of Jindal Power's (JPL) 1200 MW thermal power project in Chhattisgarh the rights for conversion of loan into equity share capital of JPL in the event of default from JPL. JPL is the power generation subsidiary of JSPL. The company made the announcement after market hours yesterday, 28 December 2015.
Srei Infrastructure Finance (Srei) spurted 13.35% at Rs 58.60 after the company said it has entered into a share purchase agreement with BNP Paribas Lease Group (BPLG) and other stakeholders for sale of a 5% stake to BPLG. Srei, BPLG, Srei Equipment Finance (SEFL), Hemant Kanoria and Sunil Kanoria have entered into a share purchase agreement whereby BPLG has agreed to acquire 2.51 crore equity shares of Srei, representing 5% of the total paid-up equity capital. In lieu thereof, BPLG will sell its entire shareholding of 2.98 crore shares of SEFL representing 50% of the total paid-up equity capital to Srei in accordance with applicable laws. SEFL is a 50:50 joint venture (JV) between Srei and BPLG. Funds received by Srei from 5% stake-sale will be used for acquisition of additional 50% stake in SEFL. Post these transactions, Srei will hold 100% of the total paid-up equity share capital of SEFL. The transaction is expected to be consummated by 31 March 2016, subject to necessary approvals.
The total assets under management (AUM) of SEFL stood at Rs 18747 crore as on 30 September 2015.
Hemant Kanoria and Sunil Kanoria held 0.08% and 0.36% stake respectively in Srei Infrastructure Finance as per the shareholding pattern as on 30 September 2015.
Key benchmark indices gained for the second straight session. The Sensex has risen 240.77 points or 0.93% in the preceding two trading sessions from its close of 25,838.71 on 24 December 2015. The Sensex has declined 66.19 points or 0.25% in this month so far (till 29 December 2015). The barometer index has fallen 1,419.94 points or 5.16% in this calendar year so far (till 29 December 2015). From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 1,245.94 points or 5.01%. The Sensex is off 3,945.26 points or 13.14% from a record high of 30,024.74 hit on 4 March 2015.
Cement stocks gained. Shares of public sector banks declined. Shares of private sector banks rose. Bharat Heavy Electricals (Bhel) fell on reports that the Expert Appraisal Committee (EAC) under the Ministry of Environment and Forests (MoEF) has deferred terms of reference (ToR) for Bhel's Yadadri thermal power project in Telangana due to ecological concerns. Shares of two-wheeler makers rose.
In overseas stock markets, European stocks edged higher as crude oil prices stabilised on the back of prospects for lower temperatures in the United States and Europe. Earlier during the global day, Asian stocks ended higher. US stocks edged lower yesterday, 28 December 2015, weighed down by a drop in energy stocks as global crude oil prices fell.
The Sensex rose 45.35 points or 0.17% to settle at 26,079.48, its highest closing level since 2 December 2015. The index gained 99.65 points or 0.38% at the day's high of 26,133.78. The index shed 39.68 points or 0.15% at the day's low of 25,994.45.
The Nifty rose 3.80 points or 0.05% to settle at 7,928.95, its highest closing level since 2 December 2015. The index rose 17 points or 0.21% at the day's high of 7,942.15. The index fell 22.40 points or 0.28% at the day's low of 7,902.75.
The BSE Mid-Cap index rose 0.42%, outperforming the Sensex. The BSE Small-Cap fell 0.13%, underperforming the Sensex.
The market breadth indicating the overall health of the market was negative. On BSE, 1,472 shares fell and 1,180 shares rose. A total of 259 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Consumer Discretionary Goods & Services index (up 0.53%), BSE Finance index (up 0.41%), BSE Telecom index (up 0.72%) and BSE Auto index (up 0.56%) outperformed the Sensex. The S&P BSE FMCG index (down 0.42%), BSE Industrials index (down 0.33%), BSE Capital Goods index (down 0.46%), BSE Metal index (down 0.42%) and BSE Realty index (down 0.92%) underperformed the Sensex.
Index heavyweight and housing finance major HDFC rose 0.69% at Rs 1,233.75. The stock hit a high of Rs 1,239 and a low of Rs 1,225.80 in intraday trade.
Shares of public sector banks declined. Central Bank of India (down 1.29%), Union Bank of India (down 0.95%), Bank of India (down 0.93%), Bank of Baroda (down 0.79%), IDBI Bank (down 0.44%), Punjab National Bank (down 0.25%) and State Bank of India (down 0.15%) edged lower. Corporation Bank (up 2.63%), United Bank of India (up 0.23%) and Indian Overseas Bank (up 0.16%) edged higher.
Shares of private sector banks rose. Axis Bank (up 0.78%), ICICI Bank (up 0.4%), IndusInd Bank (up 0.4%), HDFC Bank (up 0.36%), Kotak Mahindra Bank (up 0.12%) and Yes Bank (up 0.05%) edged higher.
Cement stocks gained. ACC (up 1.61%), Ambuja Cements (up 1.61%) and UltraTech Cement (up 0.55%) edged higher. Shree Cement (down 0.87%) edged lower.
Grasim Industries rose 1.34% at Rs 3,745. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Shares of two-wheeler makers rose. TVS Motor Company (up 2.73%), Bajaj Auto (up 1.76%) and Hero MotoCorp (up 1.18%) edged higher.
Bharat Heavy Electricals (Bhel) fell on reports that the Expert Appraisal Committee (EAC) under the Ministry of Environment and Forests (MoEF) has deferred terms of reference (ToR) for Bhel's Yadadri thermal power project in Telangana due to ecological concerns. The stock shed 1.75% to settle at Rs 168.65. An NGO had raised concerns on the tributary of the Krishna River flowing through the project's site in October 2015 and the answers provided on the issue by Telangana State Power Generation Corporation (TSGENCO) were verbal and unclear, reports suggested.
Bhel had announced on 2 June 2015 that it had secured the single-largest order in its history from TSGENCO for setting up a 4,000 megawatts supercritical thermal power project. The order valued at Rs 17950 crore is one of the highest value orders ever placed in the capital goods sector in India, Bhel said at that time. Media reports suggested that the Rs 17950 crore Yadadri thermal power project order formed 81% of Bhel's order inflows in the first half of the current financial year.
Meanwhile, Bhel announced during market hours today, 29 December 2015, that it has commissioned another 660 megawatts (MW) supercritical thermal power plant at the upcoming 3x600 MW Prayagraj Super Thermal Power Project (STPP) at Bara in Allahabad district of Uttar Pradesh. One more 660 MW unit at Lalitpur, also in Uttar Pradesh, and two units of 660 MW each at Bara are in advanced stage of construction, Bhel said. In addition, one 500 MW unit at Anpara thermal power station in Uttar Pradesh is also nearing completion, the company added.
Bhel has already commissioned 4,410 MW of power plants in the utility sector during the current financial year and is on track to achieve the target set by the government for the year, the company said in a statement.
Tata Power Company declined 0.81% at Rs 67.05. The stock hit a high of Rs 67.90 and a low of Rs 66.75 in intraday trade. The company said during market hours today, 29 December 2015, that Coastal Gujarat Power (CGPL), a 100% subsidiary of the company, has refinanced its outstanding rupee loan. The refinancing will help in extending the tenure of the rupee facility and also help in reducing the interest cost for CGPL. The total interest savings will be 2% or approximately Rs 77 crore per annum on Rs 3864 crore of refinancing, Tata Power said in a statement.
Lupin gained 0.15% at Rs 1,843.95 after the company announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its Fyavolv Tablets, a generic version of Warner Chilcott's Femhrt Tablets. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product in the US shortly, Lupin said in a statement. Lupin's Fyavolv Tablets are indicated for the treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Femhrt had annual sales of $39.9 million in the United States as per IMS MAT September 2015 data. The company made the announcement after market hours yesterday, 28 December 2015.
Infosys rose 0.19% at Rs 1,103.75 after the company announced the launch of its solar PV power plant of 6.6 megawatts (MW) capacity at its Pocharam campus in the state of Telangana. With this launch, combined with the existing 0.6 MW capacity rooftop solar plant, the Infosys campus in Pocharam will be one of the first corporate campuses in India that will be run completely by renewable energy.
The construction of phase-2 at Infosys' campus at Pocharam SEZ is currently underway, with a planned capacity of 25,000 employees. An area has been reserved to construct phase-3 at the campus.
Jindal Steel & Power (JSPL) rose 0.22% at Rs 90.80. The company's board of directors has approved giving the lenders of Jindal Power's (JPL) 1200 MW thermal power project in Chhattisgarh the rights for conversion of loan into equity share capital of JPL in the event of default from JPL. JPL is the power generation subsidiary of JSPL. The company made the announcement after market hours yesterday, 28 December 2015.
Srei Infrastructure Finance (Srei) spurted 13.35% at Rs 58.60 after the company said it has entered into a share purchase agreement with BNP Paribas Lease Group (BPLG) and other stakeholders for sale of a 5% stake to BPLG. Srei, BPLG, Srei Equipment Finance (SEFL), Hemant Kanoria and Sunil Kanoria have entered into a share purchase agreement whereby BPLG has agreed to acquire 2.51 crore equity shares of Srei, representing 5% of the total paid-up equity capital. In lieu thereof, BPLG will sell its entire shareholding of 2.98 crore shares of SEFL representing 50% of the total paid-up equity capital to Srei in accordance with applicable laws. SEFL is a 50:50 joint venture (JV) between Srei and BPLG. Funds received by Srei from 5% stake-sale will be used for acquisition of additional 50% stake in SEFL. Post these transactions, Srei will hold 100% of the total paid-up equity share capital of SEFL. The transaction is expected to be consummated by 31 March 2016, subject to necessary approvals.
The total assets under management (AUM) of SEFL stood at Rs 18747 crore as on 30 September 2015.
Hemant Kanoria and Sunil Kanoria held 0.08% and 0.36% stake respectively in Srei Infrastructure Finance as per the shareholding pattern as on 30 September 2015.
Key benchmark indices gained for the second straight session. The Sensex has risen 240.77 points or 0.93% in the preceding two trading sessions from its close of 25,838.71 on 24 December 2015. The Sensex has declined 66.19 points or 0.25% in this month so far (till 29 December 2015). The barometer index has fallen 1,419.94 points or 5.16% in this calendar year so far (till 29 December 2015). From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 1,245.94 points or 5.01%. The Sensex is off 3,945.26 points or 13.14% from a record high of 30,024.74 hit on 4 March 2015.
No comments:
Post a Comment