INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Macroeconomic headwinds and doubts over government formation in Karnataka turned investors cautious on Wednesday, which extended
the fall in Sensex to a second straight session.
The SP BSE Sensex slipped 156 points to settle at 35,387, with HUL (up nearly 4 per cent)
being the top gainer and ICICI Bank (down 3 per cent) the worst laggard.
The Nifty50 shed 61 points, or 0.56 per cent, to close at 10,741,
Tuesday posted March quarter loss at Rs 13,416.91 crore, the biggest ever by any domestic lender, as bad loans surged
The stock eventually settled at Rs 75.70 apiece on NSE, down 11.93 per cent
Syndicate Bank hits 9-year lowShares of the public sector lender plunged as much as 15 per cent in the intraday trade to hit a low of Rs
43.60, lowest since March 16, 2009
The state-owned lender had on Tuesday reported a net loss of Rs 2,195.12 crore in the last quarter ended March 31, due to high bad loans
that required higher provisioning
Shares of the bank shut shop at Rs 43.85 apiece on BSE, down 12.30 per cent
Good Q4 lifts ITCFMCG major ITC posted 9.86 per cent year-on-year rise in net profit at Rs 2,932.71 crore for the quarter ended March 31
Analysts in an ETNow poll had predicted a profit of Rs 2,917 crore
The firm had posted a net profit of Rs 2,669.47 crore for the corresponding quarter last year
The stock ended the session at Rs 285.95 apiece on BSE, up 1.47 per cent.
Outlier Karnataka Bank shinesShares of Karnataka Bank surged 8.62
per cent in the intraday trade after the management said the lender took entire NPA stress in Q4 and gross NPA was within the 5 per cent
The bank on Tuesday reported a 92 per cent slump in net profit at Rs 11 crore for March quarter due to a multi-fold jump in provisioning for
bad assets.
Fitch affirms RIL ratings, outlook stableGlobal rating agency Fitch on Wednesday affirmed Reliance Industries' long-term
foreign-currency rating at BBB-, with a stable outlook
RIL's rating is supported by its strong business profile, which is driven by its robust refining and petrochemical operations, the agency
Shares of the company ended 2.34 per cent lower at Rs 956.45 apiece on BSE
READ MOREDown and out!Shares of Reliance Communications dropped a massive 20 per cent to Rs 9.95 on BSE in the intraday trade, on the back
of bankruptcy proceedings having been initiated against the company by creditor Ericsson
The stock settled at Rs 10.55 apiece, down 15.26 per cent.
Most active stocksReliance Communications (down 15 per cent), PNB (down 12.04 per
cent) and JP Associates (up 3.52 per cent) emerged as the most active stocks in terms of volume while RIL (down 2.33 per cent), ICICI Bank
(down 3.57 per cent) and Indiabulls RE (up 12.30 per cent)
Spurt in open interestTVS Motor Company witnessed the biggest spurt in open interest at 51.41 per cent, followed by PNB (37.67 per cent)
and Muthoot Finance (29.70 per cent).
Hindalco slipsShares of Hindalco ended over 1 per cent lower at Rs 240 apiece on BSE after the company
posted 24.98 per cent year-on-year drop in profit at Rs 376.97 crore for the quarter ended March
It had posted a profit of Rs 502.52 crore in the corresponding quarter last year.
Credit Suisse 'underweight' on Indian equitiesGlobal
risen to the highest level
The global financial services major in its strategy report said the MSCI India index has fallen by the least as against Indonesia and the
