Buzzing Stocks: Reliance Capital, Jet Airways, Lupin shine, while Wockhardt, Siemens fall

Top Stocks For TodayReliance Capital, a part of Anil Ambani led Reliance Group, today announced value unlocking in the Radio and TV businesses that will reduce its debt by approx. Rs 1,900 crore (US$ 283 million) upon final completion of stake sale transactions. The stock is currently trading at Rs 426.5, up by Rs 6.65 or 1.58% from its previous closing of Rs 419.85 on the BSE.

Siemens posted a net profit after tax of Rs 2,873.7 crore for the year ended September 30, 2016 as compared to Rs 1,174 crore for the year ended September 30, 2015.

Jet Airways (India) Ltd is currently trading at Rs 355.5, up by Rs 13.9 or 4.07% from its previous closing of Rs 341.6 on the BSE.

A2Z Infra Engineering Ltd  rallied 5%. The company’s subsidiary A2Z Green Waste Management Limited (previously known as A2Z Infrastructure) (A2Z Green”), has on November 19, 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligations aggregating Rs 4161.84 million.

Bharat Petroleum Corporation Ltd is currently trading at Rs 635, down by Rs 7.05 or 1.1% from its previous closing of Rs 642.05 on the BSE.

Shares of metal stocks were trading higher for the second straight day on BSE. The BSE Metal index is trading up 2.2% or 219 points at 10,216 as against the previous close of 10,011. The Metal index opened at 10,101 and hits a high of 10,240 and a low of 10,080.

Lupin climbed 3.5% after the company has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg from the USFDA to market a generic version of ViiV Healthcare Company’s Epzicom Tablets, 600 mg/300 mg.

Larsen & Toubro soared 3%. Larsen & Toubro on Tuesday reported an 84% surge in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.

Wockhardt dropped 2.2% after the company informed the exchange that USFDA has issued a Warning Letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a step down Subsidiary of the Company.

Sun Pharma rose 1.6%.  The company announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

Siemens gained 1%. The company will announce its Q2 numbers today.

Canara Bank inched up 0.50% on  the BSE. The bank is planning to sell a portion of its 43%  stake in business arm Can Fin Homes as part of the government’s diktat asking public sector banks look to sell their noncore businesses.

UltraTech Cement is trading in green on the BSE. The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India against the company on deposit of 10% of the penalty amount.

Birla Corporation rallied 2%. Birla Corporation reported an over two-fold jump in standalone net profit at Rs 58 crore for the second quarter ended September 30, 2016. It had registered a net profit of Rs 23 crore in the year-ago period.

EIH is trading marginally lower at Rs 101.65. The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.

Bharti Airtel slipped 1% to Rs 301.55 on the BSE. The telecom company said its customers in the city could face some “teething issues” over the next few days as the country’s largest telecom operator upgrades its 3G network.

Suven Life Sciences advanced 2%. Suven Life Sciences has secured two patents – one each from China and Mexico for its new chemical entities (NCEs) used in the treatment of neurodegenerative diseases.

NMDC gained 1.2%.  Leading steel companies across the globe are showing interest in buying the Nagarnaar steel plant of the NMDC, which is coming up in Chhattisgarh’s Bastar district, as per media reports.

Vedanta soared 4.2% after the company is looking at increasing its captive power generation capacity by 1200MW amid rising production. The company is considering setting up 350MW super-critical units in joint ventures at its different production bases in the country.

Reliance Capital Ltd
BSE 435.90 16.05 (3.82%)
NSE 435.70 15.80 (3.76%)

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Nifty hits 8050, Sensex opens firm; L&T up, Wockhardt falls 3%

nifty_up_Boosted by strong global cues, the market opened firm Wednesday. The Sensex is up 152.47 points or 0.6 percent at 26113.25, and the Nifty up 48.90 points or 0.6 percent at 8051.20. About 423 shares have advanced, 79 shares declined, and 20 shares are unchanged.

L&T, GAIL, Wipro, Adani Ports and Cipla are gainers while Dr Reddy’s Labs and Bajaj Auto are losers in the Sensex. Wockhardt is down around 3 percent post US FDA warning letter.

The Indian rupee has touched 8-month low in early trade. It has opened at 68.36 against the US dollar, down 11 paise compared with previous settlement at 68.25 a dollar.

Pramit Brahmbhatt of Veracity says a stronger Dollar index will continue to put pressure on the rupee for the day, as it is trading above the 101 mark.

According to him, the trading range for the USD-INR is seen between 68-68.50 against the US dollar.

The dollar resumed its uptrend helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year.

Among global markets, Asian stocks crept to one-week highs as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session.

MSCI’s broadest index of Asia-Pacific shares outside Japan also added 0.3 percent, edging further away from four-month lows hit on Monday.

The Dow closed up 0.35 percent and above 19,000 for the first time. The S&P 500 gained 0.22 percent and the Nasdaq 0.33 percent. Still, the market is starting to look expensive with the S&P 500 trading near 17.3 times forward 12-month earnings, compared to the 10-year median of 14.7, according to StarMine data.

Crude oil prices gave up gains on worries Iran and Iraq were not ready to agree on an OPEC output freeze. Prices earlier rose to the highest level this month on reports cartel members had overcome their internal disputes.

Gold edged lower on after US equities hit all-time highs on market expectations for higher growth and more spending from a Donald Trump presidency. Investors cut holdings for an eighth consecutive session, amid speculation that the Federal Reserve will raise US interest rates next month.

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