Domestic equity markets closed in red on Monday on account of selling in frontline bluechip counters. The BSE Sensex closed 143.63 points down at 27529.97, while NSE Nifty settled 63 points down at 8520.40.
SBI: State Bank of India (SBI), the country’s largest public sector bank has received an approval to dilute up to 5 per cent stake of SBI in SBI Life Insurance to a non-promoter entity. The Executive Committee of the Central Board (ECCB) at its meeting held on October 14, 2016 has approved for the same. Shares of the bank closed 0.48 per cent up at Rs 253.10.
UltraTech Cement: Shares of the company closed 0.74 per cent down despite the company reported 31.40 per cent rise in its net profit at Rs 601.05 crore for the quarter ended September 30, 2016 as compared to Rs 457.41 crore for the same quarter in the previous year.
DHFL: Shares of Dewan Housing Finance Corporation (DHFL) settled 2.08 per cent up at Rs 307.30 after the company posted 28.96 per cent rise in its net profit at Rs 232.61 crore for the quarter ended September 30, 2016 as compared to Rs 180.37 crore for the same quarter in the previous year.
NIIT Technologies: Shares of the company slipped over 6 per cent on Monday after the company’s standalone net profit in the September quarter fell around 30 per cent per cent, on account of fall in higher margin UK insurance business as well as higher tax rate.
HPCL, BPCL, IOC: Oil marketing companies BPCL, HPCL and IOC remained in news after they increased fuel prices.
SpiceJet: Shares of SpiceJet closed 4 per cent higher on news that the airline plans to add about three Bombardiers and 4 to 5 Boeings by the end of the current fiscal.
ICICI Bank: Shares of ICICI Bank soared after debt-laden Essar Group confirmed it has agreed to sell an oil unit to a consortium led by Russia’s Rosneft. Essar has plans to use proceeds from the sale to offset some 50 per cent of the debt on its group companies.
Ujaas Energy: Ujaas Energy has won order from Uttarakhand Renewable Energy Development Agency (UREDA) for Grid Interactive Rooftop & small Solar PV Power Plant of up to 5Kwp. The order is for design, manufacture, supply, erection, testing and commissioning of Grid Interactive Rooftop and Small Solar PV Power Plants on 364 houses with a capacity of 4 & 5 Kwp at various locations in two districts of Uttarakhand. Shares of the company closed 3.23 per cent up at Rs 24.