INSUBCONTINENT EXCLUSIVE:
Shares of Piramal Enterprises surged 8 per cent on Thursday after the company ventured into private credit financing in association with
in profit, while ITI registered similar gains after it withdrew its follow-on public offer (FPO)
BSE benchmark Sensex rose for the fourth successive session, gaining 163 points to 41,306, while NSE flagship Nifty ended 44 points higher
even as it kept the key rates unchanged
We might see a pause in Nifty after the sharp rebound, however the bias would remain on the positive side
the group entered a binding agreement with Nuvoco Vistas Corporation, part of Nirma Group, to sell Emami Cement at an enterprise valuation
of Rs 5,500 crore.
Eicher profit dropsRoyal Enfield-maker Eicher Motors reported 6.42 per cent year-on-year drop in consolidated net profit
at Rs 498.70 crore for December quarter compared with Rs 532.95 crore reported for the same quarter last year
December quarter from Rs 151.75 crore in the same quarter last year
Tax expenses jumped to Rs 767 crore from Rs 245.40 crore
Shares of the firm gained 1.10 per cent to Rs 730.30.
PTC India net dip 30 per centPTC India said its consolidated net profit during
December quarter 2019 dipped 30 per cent to Rs 63.49 crore
(CDPQ) and Piramal Asset Management announced a platform of $300 million (over Rs 2,135 crore) for private credit financing opportunities in
Piramal Asset Management is a wholly owned subsidiary of Piramal Enterprises, whose shares jumped 7.80 per cent to Rs 1,573.70.
Granules
gets USFDA nodGranules India said its wholly-owned foreign arm has received US health regulator's approval for Colchicine tablets, used in
the treatment of familial Mediterranean fever
Shares of the company jumped 4.94 per cent to Rs 161.40.
Dilip Builcon bags Rs 860-cr orderShares of Dilip Buildcon gained 2.64 per cent to
Rs 393.10 after the company said it bagged a road project worth Rs 860.50 crore in Chhattisgarh.
DLF profit up 24 per centShares of DLF fell
3.08 per cent to Rs 245.70 after it reported a 24 per cent increase in consolidated net profit at Rs 414.01 crore for December quarter
Total income fell 36 per cent to Rs 1,533.34 crore from Rs 2,405.89 crore in the corresponding period previous year.
Gujarat Pipavav gains 6
per centShares of Gujarat Pipavav Port jumped 5.91 per cent to Rs 89.60 after the company reported over two-fold rise in consolidated net
profit at Rs 134 crore for the quarter ended December.
V-Mat roarsShares of V-Mart Retail soared 13.80 per cent to Rs 2,398.85 after the
company posted a 40 per cent jump in December quarter profits.
D-Mart adds 2 per centShares of Avenue Supermarts scaled fresh record high in
morning trade after it launched a qualified institutional placement (QIP) to raise up to Rs 4,000 crore on Wednesday
The stock ended 2.01 per cent higher at Rs 2,294.45
ITI gains after withdrawing FPOShares of ITI climbed 6.71 per cent to Rs 89.80 after the company decided to withdraw Rs 1,400 crore
follow-on-public offer (FPO), citing prevailing market conditions.
Sun Pharma net falls 26 per centSun Pharmaceuticals reported a 26.43 per
cent drop in year-on-year (YoY) net profit at Rs 913.52 crore compared with Rs 1,241.85 crore reported for the same quarter last year
The stock rose 1.13 per cent to Rs 430.95.
PSU banks biggest gainerNifty PSU Bank was the biggest sectoral gainers on NSE as RBI held the
policy rates at 5.15 per cent
The index gained 2.63 per cent to 2,311, led by gains in Uco Bank, Bank of Baroda, SBI and PNB that surged 3-5 per cent
Among other sectoral gainers were Nifty Pharma, Nifty Media and Bank.
Who moved my Sensex?Financials were the driver of rally in Sensex
HDFC was the biggest positive contributor with 72 points
SBI, IndusInd Bank and Bajaj Finance added 107 points
Reliance Industries added 29 points
They include Reliance Power, SBI, ICICI Bank, L-T Finance Holdings, JSPL, Adani Enterprises, IndianOil, JSW Steel and Aurobindo Pharma