Sensex, Nifty Scrape Gains At The End Of Volatile Session
Indian equity benchmarks gave up intraday gains to end little changed as gains in HDFC, TCS and Maruti Suzuki were offset by losses in Tata Motors, Reliance Industries and HDFC Bank.
The S&P BSE Sensex rose marginally to 35,490 and the NSE Nifty 50 index ended flat at 10,769.
Eleven out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Energy index's 1.15 percent drop. On the other hand, the S&P BSE Telecom index was top gainer, up 1.1 percent.
The mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap index fell 0.3 percent and the S&P BSE SmallCap index declined 0.6 percent.
Orchid Pharma Rises After RP Places Resolution Plan From lngen Capital Group
Shares of the Chennai-based pharma company rose 5 percent to Rs 9.73 after the resolution professional placed the resolution plan from lngen Capital Group LLC before committee of creditors (CoC).
The resolution proposale received affirmative vote of 78.64 percent of the CoC by value in its favour, Orchid Pharma said in an exchange filing.
Fab Four Stocks Of The Day
- Info Edge: The Noida-based job portal operator rose as much as 10 percent, the most in nearly seven months, to Rs 1,287 after it increased stake in an online insurance startup PolicyBazaar.
- United Spirits: The Bengaluru-based liquor maker rose as much as 2.98 percent to Rs 694.15 after it acquired digital payments company Hip Bar for Rs 27 crore.
- JMC Projects: The Ahmedabad-based construction company rose as much as 11.10 percent, the most in over four months, to Rs 581.90 after it secured new orders worth Rs 1,966 crore.
- Godrej Consumer Products: The Mumbai-based personal care products maker rose as much as 3.3 percent to record high of Rs 1,198 on the back of heavy volumes. Trading volume was 1.6 times its 20-day average.
United Spirits Rises 3% On Acquiring Digital Payments Company
Shares of the Bengaluru-based liquor maker rose as much as 2.98 percent to Rs 694.15 after it acquired digital payments company Hip Bar for Rs 27 crore.
Tata Motors Hits Fresh 52-Week Low; BNP Paribas Downgrades To Reduce
Shares of the Mumbai-based vehicle maker declined for a second day in a row and fell as much as 4.7 percent to hit fresh 52-week low of Rs 275.80.
Meanwhile, international brokerage firm BNP Paribas downgraded the stock to 'reduce' from 'hold' and slashed its target price to Rs 240.