Top stocks in focus today: RCom, Sun Pharma, IDBI Bank

ITC said certain individuals and NGOs have filed petition against high court ruling on cigarette warning.

Glenmark Pharmaceuticals has receives ANDA approval for Norethindrone Acetate and Ethinyl Estradiol Tablets USP and Ferrous Fumarate Tablets, 1 mg/20 mcg.

IDBI Bank to terminate rating engagement with Moody’s for MTN program.

Sun Pharma announces that the USFDA has accepted a New Drug Application (NDA), filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution) 0.09%, a novel nanomicellar formulation of cyclosporine A 0.09% in a clear, preservative-free aqueous solution..

The company announced Offer for sale of Share to eligible employees of NBCC (India) Ltd. The overall pool size of shares available to NBCC's employees under Employee Share Sale would be up to 25,16,013 equity shares of face value of Rs. 2/- each ('Equity Shares').

Reliance Communications announced exit from SDR framework with zero write-offs to lenders.

Apollo Tyres which recently raised Rs1,500cr through a QIP, is looking to partially deploy the resources to develop a new greenfield facility in Andhra Pradesh.

Canara Bank board of the bank decided to raise additional equity capital amounting to Rs90cr through QIP route by issuing Rs9cr equity shares of face value Rs10.

Essar Oilfields commenced drilling contract with Mercator Petroleum.

Ortel Communication will transfer its broadband business to its new subsidiary Ortel Broadband Ltd.

Dr.Reddy’s has launched Melphalan Hydrochloride for Injection, a therapeutic equivalent generic version of Alkeran (melphalan hydrochloride) for Injection used in the treatment of certain types of cancer and approved in the US market by the USFDA, as per media reports.

Jindal Steel completed 250 tonne basic oxygen furnace at its Odisha plant.

Srikalahasthi Pipes QIP closed with the issue price fixed at Rs360.5.

Punjab & Sind Bank board of directors has approved raising of equity capital through public issue/ right issue/ QIPs/ preferential issue or any other mode or a combination(s) thereof in one or more tranches up to March 31, 2019.

Prestige Estates will acquire 66.6% in Prestige Projects for Rs324cr.

Yes Bank acquired 5.62% in One Point One Solution as an anchor investor.

Sushmita Kacholia sold 1.28 lakh shares or 0.8% stake at Rs75.53 each of Lokesh Machines.

Asia Investment Corp Mauritius bought 3.74 lakh shares or 1.7% stake at Rs300 each of Vishal Fabrics.

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D-Street shines on exit poll predictions; Nifty above 10350 mark

Benchmark indices extended gains for the second day after exit polls released late on Thursday indicated that Bharatiya Janata Party is expected to win Gujarat and Himachal Pradesh assembly elections.

At 9:48 AM, the BSE Sensex was trading at 33,595, up 348 points, while the Nifty50 index was ruling at 10,362, up 111 points

In broader markets, both BSE Midcap and BSE Smallcap indices gained 1% each

Shares of GMR Infrastructure rose 2.4% after the company said that a consortium led by GMR Group has emerged as a preferred bidder for a project to develop the Clark International Airport in The Philippines.

All sectoral indices on the NSE were in the green led by Nifty Metal, Nifty Infrastructure index that rose 1.2-1.6%.

Vedanta (+3.3%), HDFC Bank (+2.6%), Yes Bank (+2.1%), Hindalco (+2%) and GAIL (+1.9%) were the top gainers on the Nifty50.

Tech Mahindra (-0.84%), UltraTech (-0.19%), Wipro (-0.14%), Power Grid (-0.02%) and TCS (-0.01%) were the top losers in today’s trade.

India VIX fell 13.48%.

Out of 1,977 stocks traded on the NSE, 1,335 advanced, 241 declined and 401 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee scaled a fresh 3-month high of 64.12 against the dollar in early trade on Friday. The currency opened 19 paise up at 64.15 against the dollar on Friday.

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Nifty slips below 10,300 ahead of Nov WPI data

Benchmark indices opened on a negative note tracking weak cues from other Asian equities and on account of investors booking profits ahead of the release of key economic data later today.

Banking stocks were trading down led by losses in Bank of Baroda, ICICI Bank and State Bank of India. 

At 9:51 AM, the Nifty50 Index was down 27 points or 0.26% at 10,295 points, and the BSE Sensex was at 33,383, down 0.22%.

Shares of Dr.Reddy's Laboratories jumped 4.1% after the US Food and Drug Administration cleared the company's unit-3 in Hyderabad.

Shares of Oil & Natural Gas Corp rose 1.2% after the global crude oil prices hit their highest level since 2015 overnight.

The broader markets were also trading on a subdued note with the BSE MidCap Index and S&P BSE SmallCap Index edging marginally lower.

On the sectoral front, Metal, Pharma, Media and Auto were the top gainers, while Pvt Banking, FMCG, PSU Bank, and Realty Index were the top losers on the NSE.

Dr.Reddy’s (+4%), Vedanta (+2.7%), GAIL (+2.3%),Hindalco (+1.9%) and ONGC (+1.87%) were the top gainers on the Nifty50.

HPCL (-2.3%), Asian Paints (-1.94%), BPCL (-1.9%), IOC (-1.8%), Eicher (-1.6%) were the top losers in today’s trade.

India VIX gained 1.78%.

Out of 1,974 stocks traded on the NSE, 716 advanced, 839 declined and 419 remained unchanged today.

A total of 52 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened higher at 64.41 per dollar against yesterday's close of 64.46.
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Nifty reclaims 10,100 mark; Metal, PSU Bank Indices lead

Domestic benchmark indices opened higher today led by gains in shares of banks, energy and automobiles company, and on positive cues from Asian markets.

At 10 AM, the Sensex jumped 181 points or 0.65% at 32,778 while the NSE Nifty gained 58 points or 0.55% to 10,102.

The BSE Midcap index and BSE Smallcap index was up by 0.8%. Both these indices outperformed the Sensex.

All sectoral indices on the NSE were trading in the green.

GAIL (+2.7%), Tech Mahindra (+2.1%), Bosch (+2%), Aurobindo Pharma (+1.8%) and Tata Steel (+1.4%) were the top gainers on Nifty50.

HCL Tech (-0.3%), Sun Pharma (-0.1%), Wipro (-0.04%), TCS (-0.03%) and HDFC Bank (-0.01%) were the top losers in today’s trade.

India VIX dropped 1.64%.

Out of 1,975 stocks traded on the NSE, 1294 advanced, 316 declined and 410 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

IDBI Bank was up 1.28%. The bank said that its board of directors has approved the d sale of 27.99 lakh equity shares of National Securities Depository (NSDL), constituting 7% of its total paid up equity capital, held by IDBI Bank.

Hatsun Agro Product was up 2.28%. The company said that the board of directors of the company has considered and approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs900cr.

IRB Infrastructure Developers fell 4% today as the Central Bureau of Investigation has filed a charge sheet with a Pune court against its arm for alleged illegal purchase of government land.

Asian shares hovered near two-month lows as softer oil and copper prices and uncertainty over US policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off.

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Market opens in red, Nifty slips below 10,100; RCom down 5%

The benchmark equity indices Sensex and Nifty opened on a negative note on Tuesday ahead of the kickstart of two-day RBI policy review. 

At 9.25 am, the 30-share Sensex was trading 58.87 points, or 0.18 per cent, lower at 32,810. The index was up over 150 points in the morning trade. The NSE barometer Nifty50 index was trading 15.50 points, or 0.15 per cent, lower at 10,112.25 around the same time. 

Investor sentiment was weak after Fitch Ratings pared India’s growth forecast for this financial year to 6.7 per cent from 6.9 per cent estimated earlier citing lower-than-expected recovery in the second quarter. For 2018-19, the credit rating agency has cut the forecast to 7.3 per cent from 7.4 per cent. 

Meanwhile, brokerages were largely expecting a status quo on the policy rate. 

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