1. Sensex ends 45 points down, Nifty settles below 8,700; Tata Steel, Sun TV surge

Sensex ends 45 points down, Nifty settles below 8,700; Tata Steel, Sun TV surge

The BSE Sensex closed 45.07 points down at 28061, while Nifty settled 11.95 points down at 8697.60.

By: | New Delhi | Updated: October 7, 2016 4:01 PM
BSE Sensex, NSE Nifty The BSE Sensex closed 45.07 points down at 28061, while Nifty settled 11.95 points down at 8697.60.

CLOSING BELL

The BSE Sensex closed 45.07 points down at 28061, while Nifty settled 11.95 points down at 8697.60. In the Nifty 50 index, Tata Steel, Tata Motors DVR, Zee Entertainment, Bajaj Auto and Tata Motors gained between 2.45 per cent and 4.46 per cent. On the other hand, Bharti Infratel, Asian Paitnts, Eicher Motors, HDFC and Infosys slipped between 1.59 per cent and 2.93 per cent.

Sun TV closed 7.34 per cent up at Rs 562.25.

3.05 pm: NMDC shares gained after the company reported increase in production and sales of iron ore in September 2016 over August 2016.

2.12 pm: South Indian Bank reported 18.36 per cent rise in its net profit at Rs 110.52 crore for the quarter ended September 30, 2016 as compared to Rs 93.38 crore for the same quarter in the previous year. Total income of the bank increased by 4.58 per cent at Rs 1596.08 crore for Q2FY17 as compared Rs 1526.19 crore for the corresponding quarter previous year. The scrip was trading 1.21 per cent down at Rs 24.45. Read more

1.35 pm: Goa Carbon was trading 3.30 per cent down at Rs 131.90. However, the company on Thursday reported a net profit of Rs 4.62 crore for the quarter as compared to a net loss of Rs 2.96 crore for the same quarter in the previous year, on the back of foreign exchange gain and fall in total expenses. Total income from operations of the company increased marginally by 0.33 per cent at Rs 79.04 crore for quarter under review as compared to Rs 78.78 crore for the quarter ended September 30, 2015.

12.44 pm: Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Divis Laboratories’ (DLL) long-term bank facilities worth Rs 25 crore. The rating agency has also reaffirmed ‘AA+/A1+’ rating to the company’s long- term/ short-term bank facilities worth Rs 243 crore. Shares of Divi’s Labs were trading 0.32 per cent up at Rs 1274.25. Sensex was down 55.29 points at 28050.92.

12.30 pm:

BSE Sensex, NSE Nifty, BSE, NSE

11.44 am: Sensex was down 85 points at 28,021.

11.17 am: Endurance Technologies (ETL) IPO oversubscribed by 1.14 times on the last day of offer till 11 am. Phillip Capital in a research note said, “At its upper price band of Rs 472, ETL would trade at ~19x/16x our FY17/18 consolidated estimates. Using SOTP valuations, our estimates point to a value of Rs 505. We like the structural growth potential in place, coupled with scarcity premium for quality  companies to play the segmental opportunities it offers. We recommend subscribing to the issue despite near optimum valuations.”

11.12 am: Jaiprakash Power Ventures (JPVL) shares were trading 2.85 per cent up at Rs 4.69. The company has decided to sell its Nigrie Cement Grinding unit to Orient Cement for an Enterprise Value of Rs 500 crore.  The Enterprise Value is on a cash-free, debt-free basis and is subject to adjustments on account of working capital, if any. The 2 mtpa Nigire cement grinding unit which began operations in 2015 is wholly owned by JPVL. This grinding unit is located very close to the end markets in Bihar, Jharkhand and Eastern UP.

10.44 am: Tata Motors was trading 1.61 per cent up at Rs 560.10. Read more

10.06 am: Jute-related stocks were trading higher in morning deals. Ludlow Jute & Specialities was up 7.24 per cent at 94.85. Gloster and Cheviot Co were up by 7.03 per cent and 7.80 per cent, respectively.

10.01 am: Sensex was down 61.04 points at 28,045.17, while Nifty was trading 17 points lower at 8692.55.

9.55 am: Fiem Industries has inked a ‘Technology License and Assistance Agreement’ (TAA) with Aisan Industry Co., Japan and Toyota Tsusho Corporation, Japan for manufacturing of ‘Canister’. Under the TAA, the Canister will be manufactured by Fiem Industries with the technical support of Aisan Industry Co., for two-wheelers and three-wheelers in Indian market. Shares of the company were trading 2.28 per cent up at Rs 1230.

9.35 am: Bharti Airtel has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14,244 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India. Airtel has further strengthened its pan-India spectrum portfolio and secured its spectrum requirements for the next 20 years. The company now has 4G and 3G spectrum in all circles, giving it the widest mobile broadband footprint across the country. It already has 2G spectrum in all circles. Shares of the company were trading 0.05 per cent up at Rs 323.

9.32 am: Idea Cellular has successfully completed its Pan-India Mobile Broadband footprint and significantly boosted its capacity spectrum portfolio in the latest spectrum auction conducted by the Department of Telecom, Government of India. With the procurement of 349.2 MHz of spectrum at an aggregate bid value of Rs 12,798 crore, Idea has acquired additional 2×74.6 MHz spectrum in FDD technology on 1800 and 2100 bands, and 200 MHz of capacity spectrum in TDD technology on 2300 and 2500 bands. The scrip was trading 0.13 per cent up at Rs 80. 

9.23 am: Indian rupee opened nearly 4 paise down at 66.74 against the US dollar on Friday on the back of buying of Amercian currency by banks and importers.

9.17 am: ONGC, Tata Steel, Lupin, Tata Motors and GAIL were up between 0.45 per cent and 1.05 per cent. On the other hand, Infosys, State Bank of India, Larsen & Toubro, Power Grid and ICICI Bank were down between 0.33 per cent and 0.63 per cent.

9.15 am: The BSE Sensex opened 23.01 points, or 0.08 per cent, up at 28129.22, while NSE Nifty index opened 12.15 points, or 0.14 per cent, up at 8721.70.

PRE-MARKETS

The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Friday tracking SGX Nifty and mixed global cues. At 8.04 am IST , SGX Nifty was trading 2.50 points, or 0.03 per cent down at 8,738.

Asian peers Hang Seng and Nikkei were down by 0.42 per cent and 0.20 per cent, respectively, in the morning deals. On Wall Street, the Dow Jones Industrial Average slipped 12.53 points to 18,268.50. The S&P 500 inched up 1.04 points to 2,160.77. The Nasdaq Composite slipped 9.17 points to 5,306.85.

Shares of South Indian Bank and Bharti Airtel will remain in focus today. South Indian Bank will announce its financial results for the second quarter ended October 2016. Bharti Airtel said the company has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14,244 cr in the latest spectrum auction conducted by the Department of Telecom, Government of India.

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