INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Losses in Vedanta (down 3.29 per cent), NMDC (down 1.28 per cent), Jindal Steel Power (down 0.42 per cent) and Hindalco
Industries (down 0.31 per cent) were weighing on the metal pack in Monday's session.
The BSE Metal index was trading 0.06 per cent down at
13,009 around 1 pm.
Shares of Vedanta plunged after the National Company Law Appellate Tribunal (NCLAT) on Friday upheld the sale of
Electrosteel Steel to Vedanta, rejecting the contention of Renaissance Steel, saying the mining baron Anil Agarwal-led firm was eligible to
bid for the debt-laden firm
Hindalco was trading down despite the company on Friday reported 42.84 per cent rise in its net profit at Rs 413.53 crore for the quarter
ended June 2018 as compared to Rs 289.51 crore for the same quarter in the previous year.
However, National Aluminium Company (Nalco) (up
3.22 per cent), Coal India (up 1.74 per cent), JSW Steel (up 1.09 per cent), Steel Authority of India (SAIL) (up 0.77 per cent), Tata Steel
(up 0.43 per cent) and Hindustan Zinc (up 0.26 per cent) were in the green.
Benchmark BSE Sensex was 111 points down at 37,758 and NSE
Nifty50 index was down by 35 points at 11,395
Among the 50 stocks in the Nifty index, 23 were trading in the green, while 27 were in the red.
In the Sensex index, 15 stocks were
advancing, while 16 were incurring losses.
Vedanta, State Bank of India and YES Bank were leading among Sensex losers.
