Sensex, Nifty Rise For Third Day Led By Pharma, IT Shares
Indian equity benchmarks extended gains to third day led by pharma and IT shares
The S&P BSE Sensex rose 0.13 percent or 47 points to 35,739 and the NSE Nifty 50 index gained 0.13 percent or 14 points to 10,857.
The benchmarks traded firmly higher for most part of the day, but pared gains in the last hour of trade as bluechips like HDFC twins, ITC and Bharti Airtel declined.
Twelve out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Telecom index's 1.26 percent drop. On the other hand, the S&P BSE Information Technology index was the top gainer, up 1.29 percent.
The mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap index fell 0.46 percent and the S&P BSE SmallCap index declined 0.21 percent.
Bharti Infratel Swings After Block Deal
- Bharti Infratel has 40 lakh shares change hands in a single block. Stock up 0.23 percent at Rs 300.40.
Buyers and sellers were not immediately known
Carlsberg Said To Plan Domestic Listing For Indian Operations
Carlsberg A/S is planning a domestic initial public offering of its Indian business, Bloomberg reported citing people with knowledge of the matter, who wished not to be identified. The Danish brewer is interviewing potential arrangers for the share sale over the next few weeks, according to the people.
Fab Four Stocks Of The Day
- KEC International: The Mumbai-based power transmission company rose as much as 3.88 percent to Rs 384 after international brokerage Macquarie initiated coverage on the stock with ‘outperform’ for target price of Rs 454.
- Page Industries: The Bengaluru-based innerwear maker rose as much as 6.6 percent to record high of Rs 26,320 after Jockey extended license pact with the company until December 2040.
- HUDCO: The Delhi-based housing and urban infrastructure finance company rose as much as 9.35 percent to Rs 64.35 after housing and urban affairs ministry increased carpet are of houses eligible for interest benefit under PM Awas Yojana.
- TCS: The country’s largest IT company rose nearly 3 percent after it announced that its board will meet on June 15 to consider share buyback proposal. Meanwhile, Morgan Stanley maintained its outperform call on the stock and raised its target price to Rs 2,010 from Rs 1,825.
Delta Corp Shares Surge As Trading Volume Doubles
Shares of the Mumbai-based offshore casino operator rose as much as 10.12 percent to Rs 250.80 on the back of heavy volumes.
Trading volume was 2.5 times its 20-day average.