Idea Cellular gets shareholder’s approval to change its name Vodafone Idea Ltd

Shareholders of Idea Cellular Limited, with a requisite majority, has approved the resolution to change the name of the entity to Vodafone Idea Limited.  The shareholders furthermore approved a proposal to raise Rs. 15,000 crore via convertible securities in one or more tranches.  Idea Cellular Limited is merging with Vodafone India and is presently the third largest telecom operator in India.

These proposals are as part of the merger of Idea Cellular Limited with Vodafone India. The merger of late received a setback with the Deptt of Telecom had raised a demand from Vodafone of Rs. 4,700 crore in unpaid spectrum fees. A merger would be a significant move to reduce costs and unlock synergies to enhance competitiveness.

Shares of Idea Cellular were trading in BSE at Rs.56.60 (down 2.25%) in comparison with the previous close of Rs. 57.90. The stock hit an intraday high of Rs. 58.60 and intraday low of 56.25.  Meantime, benchmark BSE index was trading lower by 53.95 points at 35,436.09 and the NSE Nifty at 10,734.70, down by 34.45 points.

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Nifty Pharma advances post Lunch hours of trade

Shares of Glenmark Pharmaceuticals Limited gained for a third consecutive session, Tuesday. The share is trading at Rs 562, up 4.10% on the day as on 2:40 pm on the NSE, while the benchmark NIFTY is up 0.43% on the day, quoting at 10,833.75. The Sensex is at 35,667.81 up 0.52%.

Nifty Pharma index rose 2.28 percent with the first frontier keeping upto 4.71% by Lupin, followed by Dr. Reddy’s which is up 4.45% at this time.

Divi's Lab, Cadila Healthcare, Aurobindo Pharma, Biocon, Cipla, Piramal Enterprises and Sun pharma were also trading up in the Nifty Pharma Index.

Market players were waiting for the release of key macro-economic data of IIP (Index of Industrial Production) and retail Inflation, Consumer Price IndeX (CPI) due later today. 

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Nifty up at 10795, Metal Stock Rise, Nifty Tips

Stock Markets continue to rise higher with nifty trading near day's high in the afternoon hours of trade, Thursday.  Benchmark NSE Nifty50 index was up 110 points at 10,795-mark, while the BSE Sensex was up 375 points at 35,554.50. Yesterday, the Central Bank announced a rate hike, increasing the repo rate by 25 base points that has lead to a rise in today’s trade.

Most metal stocks including SAIL, Jindal Steel & Power and Hindustan Copper were trading in the positive zone, among other metal stocks, during early afternoon trade on Thursday with Nifty Metal index rose 2.07 percent up at up at 3,694.35 around 2:00 pm. 

Shares of Sail India (up 5.24%), Jindal Steel (up 3.96%), Vedanta (up 3.79%), Tata Steel (up 3.13%), JSW Steel (up 2.26%) and Welspun Corp  (up 1.78%) were also among the top gainers in the metal pack. 

Vedanta, Tata Steel and Axis Bank were leading the pack of Nifty gainers, while Coal India, Bajaj Auto, Eicher Motors were among the top losers in the Nifty index.
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Auto stocks move on May sales numbers, Nifty Trading Tips

Share benchmarks Nifty and Sensex were trading flat as GDP buoyancy took a blow from weak global cues. The NSE Nifty50 index was down 30 points at 10,705 levels while the Sensitive index of BSE was down 55.75 points at 35,266 levels in the early afternoon hours of trade, on Friday.

Shares of Bajaj Auto Limited were trading up by 5.12% on NSE after the Auto major reported its rise in Sales about 30% in the month of May.

Shares of Maruti Suzuki India Limited were trading up by 3.04% at Rs. 259.80. The company registered an increase of 26% in its sales for the month of May. 

Shares of Tata Motors LImited (up 3.56%), Hero MotoCorp Ltd (up 2.45%), Ashok Leyland Ltd (up 1.69%), and TVS Motor Company (up 0.98%) were also in the positive zone. 

However, Eicher Motors Ltd (down 3.81), Mahindra & Mahindra (M&M) (down 1.50%) were incurring losses, even when the both companies registered an increase in their sales numbers for May, which is up by 23% and 12% respectively. 

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Nifty Tips: Stock rise on NSE First-Half, Top stocks to watch

Share benchmarks were in the positive terrain in spite of weak global cues. The NSE Nifty index was trading 57.90 points up at 10,571, while the BSE Sensex was up 185.58 points at 34,848.60 around 11:40 am.

Shares of Sudarshan Chemical Industries Ltd (up 14.39 pc), Gateway Distriparks Limited (up 8.13 pc) and Snowman Logistics (up 7.20 pc) jumped in these extents on NSE in late morning hours on Friday.

Stocks such as Sequent Scientific Ltd (up 7.77 pc), NR Agarwal Industries Ltd (up 5.70 pc), Radico Khaitan Ltd (up 4.70 pc), Gati Ltd (up 4.47 pc), Indian Terrain Fashion Ltd (up 4.28 pc), United Breweries Ltd (up 4.09 pc), Take Solutions (up 4.58 pc) and Mangalore Chemicals & Fertilizers Ltd (up 4.01 pc) surged in Nifty constituents.

Hindalco, Bajaj Finserve, Gail India, Tata Steel, Infosys were among the top gainers in the Nifty index, while Vedanta, SBI, Bharti Infratel, Grasim and Coal India were trading among top Nifty losers.

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Bajaj Finance Ltd Shares Hit Record High on Splendid Q4 Results

Top Finance lender, Bajaj Finance Limited reported a 61 pc rise in its net profit to Rs 721 crore for the Q4 ending March 2018 versus Rs 615 crore in the year-ago period.  The profit surpasses analyst estimates due to healthy loan growth and stable asset quality for the period.

Reacting to the profit growth, on the market closing hours, Bajaj Finance Limited’s share price settled 7.71% at Rs. 2067.95 on NSE.  In a regulatory filing to the Stock Exchange, the company said that its Q-4 net interest income was up by 40 pc at Rs 2,365 crore from Rs 1,686 crore in the previous year.

The gross NPAs stood at 1.48 pc, up from last quarter's 1.67 pc, while net NPAs stood 0.38 pc of the total assets.

Bajaj Finance Ltd in its press release said that it continues to provide for loan losses in excess of requirements set by the RBI.

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Market Extend Losses on Karnataka Uncertainty, Stock Tips

Stock Markets extended falls for the second consecutive day, led by mix earnings reaction, weak global cues and heavy mayhem unfolded in Karnataka over govt formation.

The BSE Sensex closed lower by 156.06 points to 35,387.88, while the NSE Nifty50 fell 60.75 points   to close at 10,741.10 in trade.

BSE Sector wise, realty gained most at near 2 pc followed by FMCG 1.65 pc and IT 0.18 pc. Energy index cracked most at 1.75 pc, oil & gas 1.58 pc, Bankex 1.17 pc and finance 0.91 pc.

HUL, ITC, Wipro, Yes Bank, Asian Paints and Sun Pharma were top gainers. On the other hand, ICICI Bank, Reliance Industries, SBI and Hero Moto Corp were losing shine.

NSE Nifty PSU Bank Index declined 3 pc. Conversely, NSE Nifty Realty Index was the top sectoral gainer, spiking 2.1 pc.

Shares of ITC jumped 1 pc after the announcement of its Q4 results for the period ended March 31, 2018. It has posted net profit of Rs.2,932.71 crores for the above period versus Rs.2,669.47 crores for the same period last year. Shares of ITC LTD  closed at Rs.285.95 up by 1.47 pc.

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