INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic equity market ended in the green on Friday amid heavy buying on counters such as energy, financials and IT, thus
ending its longest winning streak since November 2017.
The SP BSE Sensex added 91 points to close the session at 34,192, while NSE's Nifty50
gained 22 points to close above 10,450 level at 10,480.
There has been a remarkable recovery in the market despite global factors not being
supportive and worries over rising crude prices, said Devang Mehta, Head, Equity Advisory, Centrum Wealth Management.
Softening of retail
inflation, which cooled to a five-month low of 4.28 per cent, and a spike in industrial production to 7 per cent growth helped investor
sentiment.
There was plenty of action beyond the benchmarks too.Bharti set to lose telecom crownTelecom industry revenues will decline by 9
per cent to $21.6 billion in FY19, as incumbents continue to calibrate offers to match plans of Reliance Jio, said Deutsche Bank
The global financial services company project a merged entity of Idea Cellular and Vodafone India to corner 37 per cent revenue share by
FY20, while Bharti Airtel will command 36 per cent and Reliance Jio 25 per cent
Shares of Bharti Airtel ended 0.61 per cent lower at Rs 377.80 apiece while those of Idea Cellular closed over 1 per cent lower at Rs 72.20
Disruptions ahead! 16% m-cap at riskAs much as 16 per cent of India's market capitalisation is at risk from market, policy, regulatory or
technological disruptions, that we are going to witness across industries over the next few years, Kotak Institutional Equities said in a
The market appears reluctant to factor the full extent of these risks into the valuations of companies likely to see disruption given the
uncertainty of (1) the timing of disruption, (2) the extent of disruption, and (3) responses of incumbents
The threat of disruption is admittedly hard to model for both companies and investors given multiple variables.
Lots of positions in
EscortsEscorts witnessed the biggest spike in open interest at 25.28 per cent, followed by Bharat Electronics (20.68 per cent) and Infosys
the Supreme Court on Friday refused to allow out-of-court settlement for the cement firm
Binani shares settled 3 per cent lower at Rs 98.65 apiece on BSE
READ MORELook who all are wooing FortisFortis Healthcare on Friday confirmed that the board has received an unsolicited non-binding
healthcare provider in Asia
Fortis shares closed 1 per cent lower at Rs 151.95 apiece on BSE.
ALL vehicles to carry Smerch RocketsShares of Ashok Leyland rallied over 3
per cent after the company informed the bourses that it had won an order from the Ministry of Defence for 10x10 vehicles to carry Smerch
The initial order is worth over Rs 100 crore, the company said in a BSE filing
The stock closed 3.14 per cent higher at Rs 149.45 apiece on BSE.
Order win fails to lift NBCCThe company on Friday informed the bourses
that it had signed an MoU with Skill Development Institute (SDI), Bhubaneswar, for planning, designing and construction of Skill Development
The order is worth Rs 300 crore
The stock settled flat at Rs 210.25 apiece on BSE, up 0.24 per cent.
Oil heads for biggest weekly gain Oil prices edged higher on Friday,
reports of dwindling global oil stocks
Brent rose 44 cents to $72.46 a barrel, up about 8 per cent for the week
NYMEX crude for May delivery gained 45 cents to $67.52, putting the contract on track for a weekly jump of nearly 9 per cent.
HDFC Bank to
raise Rs 50K cr fundsSome reports said the private lender has proposed to raise funds up to a total of Rs 50,000 crore in next 12 months via
The stock settled at Rs 1,928 apiece on BSE, up 0.09 per cent.
Metals shine and how!Metal stocks advanced the most in the trade on rising
London aluminium slipped on Friday, but was on track for its biggest weekly gain on record after US imposed sanctions on Russia's UC Rusal,
the world's second biggest producer of the metal, raising supply concerns
Nifty Metal index advanced 1 per cent to settle at 3,725 with 13 out of 15 constituents ending in the green
Recently-listed Mishra Dhatu Nigam (Midhani) spurted a whopping 20 per cent to Rs 111 apiece on BSE.
