Shares of ITC fell over 6 per cent intraday on Monday after a Finance Ministry panel headed by CEA Arvind Subramanian suggested 40 per cent goods and services tax (GST) rate on tobacco products.
The BSE Sensex and NSE Nifty50 extended losses for the fourth consecutive trading session on Monday as a cigarette maker ITC declined over 6 per cent in its biggest fall in nine months due to worries about a “sin” tax, while oil producers fell after OPEC left output targets unchanged. Sensex closed 108 points down at 25,530.11, while Nifty closed 16.50 points down at 7765.40.
Below are 8 stocks that remained in news today:
Manali Petrochemicals: Manali Petrochemicals share price fell as much as 7 per cent after the company informed BSE that production at both the plants of the company remained affected due to Chennai floods. Manali Petrochemicals says due to power disruptions and disturbances in operations there will be a significant negative impact for the quarter and the year. The share price of company closed 4.95 per cent down at Rs 31.65.
ITC: Shares of ITC fell over 6 per cent intraday on Monday after a Finance Ministry panel headed by CEA Arvind Subramanian suggested 40 per cent goods and services tax (GST) rate on tobacco products. The scrip closed 6.57 per cent down at Rs 313.55.
Godrej Properties: Godrej Properties has sold 300 apartments within one week at The Trees, its flagship project in Vikhroli, Mumbai. This represents more than 80% of the 374 apartments it opened for sale in the first phase of this project. The value of apartments sold is in excess of 700 crores making this Godrej Properties’ most successful ever launch in terms of value of real estate sold. The share price of the realty major closed 1.21 per cent up at Rs 338.55.
Lanco Infratech: Lanco Infratech on Monday announced commencement of power supply to Haryana Discoms from its domestic coal based 300 MW Unit # 2 of Lanco Amarkantak Power Limited (LAPL), Chhattisgarh. With the commencement of power supply to Haryana Discoms at regulated tariff from this pithead plant, the entire 1800 MW operating coal based power portfolio of Lanco is now utilised to its full capacity with fuel pass through. The scrip settled 5.19 per cent up at Rs 6.49 on BSE.
Essar Oil: Country’s second biggest non-state oil refiner on Saturday issued a public notice to delist the company from local bourses by buying out the non-promoter shareholding of 28.54 per cent at Rs 146.05 per share. The share price of the company closed 0.71 per cent up at Rs 211.65.
GMR Infra: The debt-laden company is pinning its hopes on a turnaround based on its under construction power generation capacity becoming operational, and growth envisaged in its airport vertical with the increase in passenger traffic. GMR Infra share price closed 4.85 per cent higher at Rs 16.20.
Sagar Cements: Sagar Cements’ wholly-owned subsidiary company – BMM Cements has been granted a mining lease from Government of Andhra Pradesh for limestone over an extent of 1,123.32 acres of land nearer to its plant located at Gudipadu Village, in Ananthapur District, Andhra Pradesh for a period of 20 years. This would enable the company to source its limestone requirements there from after execution of a formal lease deed with the appropriate authorities in due course. The share price of the company closed 5.08 per cent up at Rs 424.
Neyveli Lignite: Share price of Neyveli Lignite fell 2.21 per cent on Monday after the company informed BSE that it received a rainfall of around 408 mm in 8 hours on November 09, 2015, the highest rainfall since inception of the company in the year 1956 and there has been almost persistent rain since November 08, 2015 resulting in flooding of mines and suspension of mining operations and lower in power generation. However, maximum possible power generation have been taken up. Necessary action has been taken to make the shortfall in production and power generation to the extent possible. The power generation in Thermal Power Station in Barsingsar, Rajasthan and in Tuticorin power project of NLC Tamilnadu Power Limited, the subsidiary company are operating as usual.