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Moneycontrol

Tuesday 14 November 2017

Market Live: Sensex tests 33,000 in opening, Nifty trades flat; Bharti Infra dips

Sun Pharma, HCL Technologies, Bharti Airtel, M&M, Lupin, Yes Bank, Kotak Mahindra Bank and Eicher Motors were early gainers.


9:36 am Buzzing: Share price of Havells India gained 1 percent in the early trade on signing pact with Hyundai Electric & Energy Systems.

Hyundai Electric & Energy Systems and Havells India announced the signing of memorandum of understanding (MoU) to mutually explore and supply low and medium voltage protection and switching devices, as per company release.

Under the agreement, Hyundai Electric will supply low and medium voltage protection and switching devices to Havells as brand labeling.

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Hyundai Electric will also grant manufacturing license and technology transfer for low-capacity Magnetic Contactors (MC) and Molded Case Circuit Breakers (MCCBs) to Havells.

9:26 am Listing: Footwear retailer Khadim India will list on the bourses today following the conclusion of its Rs 543 crore initial public offer last week.

Khadim India's IPO was subscribed 1.90 times during November 2-6. The price band for the offer was fixed at Rs 745-750 per share.

The IPO comprised fresh issue of equity shares aggregating up to Rs 50 crore, besides an offer for sale of up to 65,74,093 shares by existing shareholders.

The net proceeds from the issue are to be utilised towards payment of loans and general corporate purposes. Axis Capital and IDFC Bank were the book running lead managers to the issue.

9:20 am MSCI rejigs index constituents: In the semi-annual index review for the MSCI equity indexes, Britannia, Petronet LNG and Vakrangee have been added to MSCI Global Standard Index while Apollo Hospitals has been removed. The MSCI Global Small Cap Index has seen 30 additions and 10 deletions. The stocks that have been added include CDSL, Chambal Fertilisers, Cochin Shipyard, DCM Shriram, Deepak Fertilisers, Eris Lifescience, Fortis Healthcare, Gujarat Alkalies, Gulf Oil Lubricants, Himadri Chemicals, IDFC, Jindal Saw, Jindal Stainless, Minda Industries, Nesco, Quess Corp, Radico Khaitan, Rain Industries, Shankara Building Products, Suprajit Engineering, Techno Electric, Tejas Networks, Time Techno, Uflex, VIP Industries and Welspun Corp. The exclusions include Adani Transmission, Future Retail, Indo Count, JB Chemicals, Kansai Nerolac, Kushal, L&T Finance, TVS Motor, Vakrangee and Videocon.

9:15 am Market Check: Equity benchmarks opened flat on Tuesday after sharp correction seen in previous session. Investors focussed on corporate earnings.

The 30-share BSE Sensex was down 14.55 points at 33,019.01 and the 50-share NSE Nifty fell 3 points to 10,222.

Coal India, Vedanta, BPCL, L&T and Bharti Infrtel were early losers.

Sun Pharma, HCL Technologies, Bharti Airtel, M&M, Lupin, Yes Bank, Kotak Mahindra Bank and Eicher Motors were early gainers.

PTC India Financial, Dhanlaxmi Bank, United Bank, Jindal Poly and TNPL fell 1-8 percent after weak earnings. Repco Home, Satin Creditcare, KEI Industries and NMDC were under pressure.
Vakrangee, Future Retail and Apollo Hospital gained 2-4 percent. 





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