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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Indian equity markets were trading in the green amid strong global cues.

Key benchmark indices advanced on buying by domestic institutional investors amid positive leads from Asian markets. Buying interest in Bank/Financial, pharma and FMCG counters were picking up momentum, while IT, metal and Auto stocks were losing sheen.

The NSE Nifty index was trading 20.55 points up at 10,736.05, while the BSE Sensex was up 88.21 points at 35,296.35 around 11:15 am. 

Shares of ICICI Bank surged near 7 percent at Rs. 309.85, leading the pack of Nifty gainers.  ICICI Bank shares rose on expectation of improvement in asset quality.

Shares of Godrej Properties gained 5.29% to Rs. 894.80 per share after the Company registered a turnover of Rs. 8.09 crore and a volume of 0.91 lakh shares.

Shares of Tata Coffee Limited were trading down by 6.23% to Rs.125.00 after the company reported a 62% decline in its consolidated net profit to Rs 22.40 crore in the quarter ended 31 March 2018.

Meantime, the Indian Rupee hit a fresh 15-month low of 67.20 versus the USD in today. The domestic currency was at 67.26, at 0.6 paise higher, than the opening.  ICRA Rating Agency on Monday said that the weakened rupee could diminish the demand for jewellery buying by 2 - 4% for the calendar year 2018 on account higher gold prices.

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Stock in Action on Mondays morning deal; the best stock tips

Equity benchmark indices started on a weaker note on Monday opening trade on negative global signals after the US stroke missile attack on Syria following which prices of oil rose setting off a downturn in investor sentiments. The benchmark Sensex hit a day’s bottom of 33,900 levels while the NSE indicator Nifty 50 slumped to a day’s low of 10,396 levels on Monday. 

Shares of IT major Infosys Ltd were the biggest losers among the BSE Sensex after the company announced its earnings results for the quarter and the financial year ended 31 March 2018.

Shares of Gruh Finance Limited rose 3 percent to Rs 632 after the company announced a net profit of Rs. 130 crore in March quarter.

Shares of United Spirit Ltd rose 0.70% at 3,509.20 after the company approved a stock split in the ratio of 5:1.

Shares of Dilip Buildcon Limited rose 0.80% at 1149.65 after the company has incorporated five new special purpose vehicles Companies for five projects awarded by the NHAI valued at Rs. 6306.9 Crores.

The Indian rupee weakened against US dollar in the midst of geopolitical worries over Syria and trade war concerns. The rupee was trading at 65.38 against US dollar, down 0.26 percent from its Friday’s close of 65.22.

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The IPO of Garv Industries opens today

Garv Industries Limited (GIL), the company involved in the business of multi-product trading and distribution of a range of aluminum & textile products, has received capital markets regulator Sebi's approval to float an initial public offer (IPO).

The company is offering 32,00,000 equity shares at issue price of Rs 10/- each making the issue size of  Rs. 3,20,00,000 approx.

1,70,000 equity shares of Rs 10 each will be reserved for subscription by market makers to the issue. The face value of the equity share is Rs. 10 and the issue price is 1 time of the face value.

The initial public offer will open today, 12 April, 2018 and will close on 17 April, 2018.

The Objects of the IPO is to raise funds for maintaining the working capital requirements and funding expenditure for General Corporate Purposes.

Mr. Rishu Agarwal, Mrs. Daya Bansal, and R.S Services Pvt Ltd are the promoters of the company. Aryaman Financial Services Ltd is the book-running lead managers to the issue.

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Nifty Trading Expert: Nifty Trend in Action, Oil Co shares down

Nifty keeps on staying in the red zone but has improved from day's bottom line amid gains in the Nifty Metal and IT index. Nifty Metal index rose 1.74% with Vedanta Ltd (up 4.14%), Jindal Stainless (Hisar) Ltd (up 3.25%), National Aluminium Company Limited (up 2.14%),among other constituents.

At 2:10 PM, the BSE Sensex was trading at 33,94851, up 68.26 points, while the NSE Nifty50 index was trading at 10,415.95, up 13.50 points.

Shares of Oil companies fell 8% on reports government to ask the firms to absorb Re 1 per litre increase and pass on the maximum possible advantage to the customers.

Shares of Hindustan Petroleum Corpn (HCPL) tanked 7.65% , Indian Oil Corpn Ltd (IOCL) down 6.78% , Bharat Petroleum Corpn  (BPCL) down 7.27%, Chennai Petroleum Corporation plummeted 5.09%, Mahanagar Gas dipped 3.40% and GAIL India dropped 1.73% to  on NSE today,  post lunch hours of  deals.

The Nifty PSU bank index traded lower by over 2.21% as stocks such as Indian Bank, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, State Bank of India dragged the index lower.

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Stock Tips: Stock-specific rally in the mid-noon hours of trade

Benchmark equity indices opened flat on Tuesday and turning downwards in the late morning deals, with banking stocks providing some support.

PSU bank stocks rose after the Reserve bank on Monday announced that lenders could spread bond trading losses over four quarters

At 11:40 AM, the BSE Sensex was trading at 33,190.88, down 64.48 points, while the Nifty50 index was trading at 10,187.25, down 24.55 points. The BSE Midcap was trading up 0.23% and the Smallcap was up 0.30% each.

Shares of Motherson Sumi Systems were trading up over 3.94% after the company said it has agreed to acquire Reydel Automotive Group for USD 201 million.

Shares of HPCL (+2.42%), Indiabnulls HF (+2.10%), Yes Bank (+2.07%), IndusInd (+1.96%), Lupin (+1.58%) were the top gainers on Nifty50.

Shares of TechMahindra (-3.45%), Wipro (-2.18%), Grasim (-1.62%), Adani Ports (-1.49%) and Eicher Motors (-1.43%) were the top losers at this point.

The Indian rupee opened higher at 65.08 against US dollar against its previous close of 65.18.

Nifty Trading tips: Nifty Auto index up

Key equity indices were in the negative territory ahead of March Future and Option (F&O) expiry and ahead of the financial year ending. 

The Nifty Auto index was trading 0.24% up at 10,869, post lunch hours of trade, Wednesday, with shares of Maruti Suzuki India Limited, which was trading up 1.63%, being the top gainers. 

Shares of Hero MotoCorp (up 1.34%), Motherson Sumi Systems (up 0.65%), Bosch Limited (up 1.15%), Amara Raja Batteries Limited (up 1.15%) and MRF Limited (up 1.09 were also trading with gains. 

However, shares of Bajaj Auto were trading down 1.34% followed by Mahindra & Mahindra (down 1.00%), Bharat Forge (down 0.62%), Eicher Motors (down 0.54%), Tata Motors limited (down 0.51%), Tata Motors (DVR) (down 0.43%), Apollo Tyres (down 0.40%), Exide Industries (down 0.11%), and Ashok Leyland (down 0.07%) which were among the losers in the auto index. 

The NSE Nifty50 index was down 41.20 points at 10,142.95, while the BSE Sensex was 141.03 points at 33,033.36 at 2.25 pm, on Wednesday.

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Index trend and Stocks movements in the afternoon deals

Sun Pharma: Sun Pharmaceutical Industries Ltd on Wednesday said that the company won an approval from the U.S. drug regulator for its specialty drug ILUMYA for plaque psoriasis.

Shares of Sun Pharma rose as much as 3.45% intraday high to Rs 521.9 in the morning hours, but post lunch hours of deal, the stock was trading 0.61% at Rs. 507.80

Zensar Technologies: Zensar Technologies Limited acquires U.S based insurance-technology company Cynosure for USD 33 million, to increase its foothold in the fast-growing property & casualty insurance space.

Shares of Zensar Technologies rose as much were trading 1.86% to Rs 927 at this point.

ITI Limited: The Cabinet approved a Deptt of Telecom proposal to allow its public sector unit ITI Limited to offer 18 crore fresh equity shares to public through a further public offer in the domestic market.

Shares of ITI Ltd were trading 2.66% at Rs. 119.80 in the afternoon hours.  In the morning hours, the stocks traded intraday higher upto 6.8%.

Dish TV: Dish TV India Limited said that the merger of Videocon D2H Limited into the company has been completed with effect from 22 March 2018. Shares of Dish TV India were trading up 1.74% to Rs. 67.10 at this point.

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