Sensex, Nifty Log Biggest Weekly Loss In Eight Months
Indian equity benchmarks logged the biggest weekly decline in eight months, dragged by losses in banking, energy and information technology stocks.
The S&P BSE Sensex index shed over 1% to 59,306.93. The NSE Nifty 50 Index declined by similar magnitude to 17,671.65. Both the benchmark indexes fell by over 2.2% for the week, logging the worst decline since the week ended February 26.
On Friday's session, the broader indexes outperformed their larger peers with the S&P BSE MidCap index adding 0.16% and the S&P BSE SmallCap index shedding 0.4%. Twelve of the 19 sectoral indexes compiled by BSE Ltd. declined, with the S&P BSE Energy falling nearly 2%.
The market breadth was skewed in favour of bears. About 1,452 stocks advanced, 1,796 declined and 151 remained unchanged.
Invesco, OFI Versus Zee Ent: Bombay HC Division Bench To Take Up Invesco, OFI's Appeal On November 29
Bombay High Court division bench to take up Invesco and OFI’s appeal against single judge order on Nov 29
The appeal by Invesco and OFI came up for hearing before the high court today
The single judge bench order of Justice Gautam Patel had asked Invesco not to act in furtherance of its EGM requisition to Zee Entertainment Enterprises.
Vodafone Idea Opts To Defer AGR Dues Payment By Four Years
Vodafone Idea Ltd. has approved the exercise of the option of deferment of the company's AGR related dues by a period of four years with immediate effect.
In an exchange filing, the company said that the other option offered in the Department of Telecommunications notification will be considered within the stipulated timeframe.
S&P BSE Energy Index Up Nearly 2%
Escorts Q2 Net Income Above Estimate
Escorts reported net income for the second quarter that beat the average analyst estimate
September Quarter Results (Consolidated, QoQ)
Net income at Rs 173.47 crore vs Rs 178.45 crore(Bloomberg Consensus Estimate: Rs 162 crore)
Revenue at Rs 1,673.85 crore vs Rs 1,701.70 crore (Estimate: Rs 1,540 crore)
Total costs at Rs 1,501.18 crore vs Rs 1,500.82 crore
Other income at Rs 65.51 crore vs Rs 48.82 crore
Of the 25 analysts tracking the company, 16 maintained 'buy', five maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 10.2%