Stocks Radar: JP Associates, Reliance Infra, Eicher Motors and More
Here are the stocks that made the news today
Indian equities fell reflecting weak performance of their Asian peers as Bank of Japan maintained its policy balance rate while expanding its purchases of exchange-traded funds.
Here are the stocks in the spotlight of trade today.
Jaiprakash Associates: Misses payments on Rs 36 crore NCDs
The debt laden firm declined over 4.1 percent intraday to Rs 12.7 after it informed the exchanges about its failure to pay principal installment and interest on 11.75 percent non-convertible debentures, which were due on April 25, 2016.
Reliance Infrastructure: Brookfield in Talks to buy Road Assets, Says Report
The Anil Ambani-led firm gained over 5.8 percent to Rs 606.5, its highest single day jump since April 11, 2016.
Asset management firm Brookfield has emerged as the front-runner to take over the entire portfolio of 11 road projects of Reliance Infra for an enterprise value of Rs 8000 crore, according to an Economic Times report. The buyout is expected to bring down the company’s debt by Rs 13,000 crore.
Steel companies advance on rising iron ore prices
Stocks of steel companies received a boost after iron ore futures in China were seen rising to their highest levels since April. (Read More)
- Tata Steel (+1.8 percent to Rs 356.7)
- Jindal Steel (+1.6 percent to Rs 86.4)
- Steel Authority of India (+0.7 percent to Rs 47.75)
- Hindalco (+0.9 percent to Rs 134.9)
- JSW Steel (+0.6 percent to Rs 1695.3)
There have been a lot of events that are driving up people’s sentiment about a tighter steel marketKevin Bai, a Beijing-based analyst at CRU Group told Bloomberg.
Earnings Reaction
Eicher Motors, GlaxoSmithKline Pharmaceuticals, and newly listed L&T Infotech were among the companies that came out with their earnings for the first quarter of FY17 on Thursday. Here is how the stocks are performing -
- Eicher Motors (+3.8 percent to Rs 21878.75)
- GlaxoSmithKline Pharmaceuticals (-0.4 percent to Rs 3332.85)
- L&T Infotech (+2.4 percent to Rs 696.4)
- CEAT Ltd. (-2.6 percent to Rs 860.25)
- Punjab National Bank (-1.4 percent to Rs 127.2)
Earnings Watch
ICICI Bank, NTPC Ltd., Crompton Greaves and Alembic Pharma are among companies which will come out with their Apr-June quarterly results today.
- ICICI Bank (-2.4 percent to Rs 265.5)
- NTPC (-0.7 percent to Rs 157.8)
- Crompton Greaves (-0.4 percent to Rs 77.7)
- Alembic Pharma (+2.6 percent to Rs 629.15)
- PVR (+1.4 percent to Rs 1158.4)
- Pidilite (+1.9 percent to Rs 766.8)
- Godrej Consumer (-0.2 percent to Rs 1631.7)