The Indian rupee slipped in early trade today. It has opened lower by 10 paise at 64.65 per dollar versus 64.55 Friday.
11:38 am Buzzing: Shares of various firms, led by Jindal Steel, today fell by up to 2.3 percent amid reports that their names have cropped up in the leaked list of 'Paradise Papers' of companies.
The scrip of Jindal Steel & Power went down by 2.32 percent, Essar Shipping lost 2 percent and Videocon Industries fell by 1.82 percent on BSE.
Also, shares of Sun TV Network fell by 1.74 percent, GMR Infrastructure declined by 1.57 percent and Apollo Tyres dipped 0.88 percent.
The scrip of Jindal Steel & Power went down by 2.32 percent, Essar Shipping lost 2 percent and Videocon Industries fell by 1.82 percent on BSE.
Also, shares of Sun TV Network fell by 1.74 percent, GMR Infrastructure declined by 1.57 percent and Apollo Tyres dipped 0.88 percent.
As per reports, in all, there are 714 Indians in the tally.
The Paradise Papers is an investigation into offshore and banking assets carried out by the Indian Express with the International Consortium of Investigative Journalists (ICIJ).
11:22 am Auto sales: Force Motors said it has sold 2,539 units in October month, lower by 13 percent compared with 2,935 units sold in corresponding month.
11:12 am Market Check: Equity benchmarks recovered losses in last morning deals, backed by banks, FMCG and auto stocks.
The 30-share BSE Sensex was up 19.86 points at 33,705.42 and the 50-share NSE Nifty fell 3.10 points to 10,449.40.
About 1,360 shares advanced against 1,018 declining shares on the BSE.
10:58 am Rupee Trade: The rupee dropped by 18 paise to 64.72 against the dollar at the interbank forex market today amid fresh foreign fund outflows.
Traders said fresh demand for the US currency from importers and a lower opening of the domestic equity market weighed on the rupee.
The dollar's weakness against some currencies overseas, however, restricted the rupee fall, they added.
Foreign investors pulled out around Rs 9,690.84 crore from equity markets on Friday.
10:48 am Asia Update: Most major Asian indexes edged down today as investors digested earnings reports and President Donald Trump's tour of the region got underway.
Japan's Nikkei 225 slid 0.05 percent as markets re-opened for trade after a long weekend. Across the Korean Strait, the Kospi came under pressure. The index declined 0.6 percent.
Hong Kong's Hang Seng Index fell 0.6 percent.
10:38 am APL Apollo in focus: APL Apollo Tubes share price rallied as much as 8 percent to hit a life-time high of Rs 1,962.10 after research firm Emkay has initiated coverage with a buy call on the stock on strong earnings growth.
The brokerage house has set a target price for the stock at Rs 2,812 per share, implying potential upside of 52 percent, as it feels the company would double its profits & improve its return on capital employed to 30.5 percent from 20.6 percent by FY20.
Return on equity is expected to improve to 27 percent by March 2020, compared to 23 percent in the financial year ending March 2017, it said.
Emkay expects revenue, operating income and earnings per share to grow at a compound annual growth rate of 17 percent, 23 percent and 31 percent respectively, over the three financial years till March 2020.
10:28 am Buzzing: Capacite Infraprojects share price rallied 4 percent as the building constuction company has bagged a contract worth Rs 825.01 crore from Arihant Abode, a subsidiary of Arihant Superstructures.
The order is for affordable housing project christened "Arihant Aspire" situated at Panvel, Maharashtra.
The scope includes construction of civil & structural, finishing & MEP works to be executed in phases for 8 residential buildings of 42 floors each.
"With this order, we have achieved a significant milestone of crossing Rs 5,000 crore in order backlog," Rahul Katyal, Managing Director said.
The Paradise Papers is an investigation into offshore and banking assets carried out by the Indian Express with the International Consortium of Investigative Journalists (ICIJ).
11:22 am Auto sales: Force Motors said it has sold 2,539 units in October month, lower by 13 percent compared with 2,935 units sold in corresponding month.
11:12 am Market Check: Equity benchmarks recovered losses in last morning deals, backed by banks, FMCG and auto stocks.
The 30-share BSE Sensex was up 19.86 points at 33,705.42 and the 50-share NSE Nifty fell 3.10 points to 10,449.40.
About 1,360 shares advanced against 1,018 declining shares on the BSE.
10:58 am Rupee Trade: The rupee dropped by 18 paise to 64.72 against the dollar at the interbank forex market today amid fresh foreign fund outflows.
Traders said fresh demand for the US currency from importers and a lower opening of the domestic equity market weighed on the rupee.
The dollar's weakness against some currencies overseas, however, restricted the rupee fall, they added.
Foreign investors pulled out around Rs 9,690.84 crore from equity markets on Friday.
10:48 am Asia Update: Most major Asian indexes edged down today as investors digested earnings reports and President Donald Trump's tour of the region got underway.
Japan's Nikkei 225 slid 0.05 percent as markets re-opened for trade after a long weekend. Across the Korean Strait, the Kospi came under pressure. The index declined 0.6 percent.
Hong Kong's Hang Seng Index fell 0.6 percent.
10:38 am APL Apollo in focus: APL Apollo Tubes share price rallied as much as 8 percent to hit a life-time high of Rs 1,962.10 after research firm Emkay has initiated coverage with a buy call on the stock on strong earnings growth.
The brokerage house has set a target price for the stock at Rs 2,812 per share, implying potential upside of 52 percent, as it feels the company would double its profits & improve its return on capital employed to 30.5 percent from 20.6 percent by FY20.
Return on equity is expected to improve to 27 percent by March 2020, compared to 23 percent in the financial year ending March 2017, it said.
Emkay expects revenue, operating income and earnings per share to grow at a compound annual growth rate of 17 percent, 23 percent and 31 percent respectively, over the three financial years till March 2020.
10:28 am Buzzing: Capacite Infraprojects share price rallied 4 percent as the building constuction company has bagged a contract worth Rs 825.01 crore from Arihant Abode, a subsidiary of Arihant Superstructures.
The order is for affordable housing project christened "Arihant Aspire" situated at Panvel, Maharashtra.
The scope includes construction of civil & structural, finishing & MEP works to be executed in phases for 8 residential buildings of 42 floors each.
"With this order, we have achieved a significant milestone of crossing Rs 5,000 crore in order backlog," Rahul Katyal, Managing Director said.
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