Produced by: Aseem Thapliyal
Designed by: Manoj Kumar
Indian equity benchmarks were trading lower in early deals today. The 30-share BSE Sensex pack fell 33 points to 66197, while the Nifty lost 23 points to 19,719.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The Fed’s hawkish pause message has created a global risk-averse sentiment in global equity markets. The spike in the dollar index to 105.52 and the US 10-year bond yield shooting up to a 16-year high of 4.5 % is negative for the equity markets, particularly emerging markets. The FIIs have reversed their ‘Buy India strategy’ which they have been following in the last 3 months with selling to the tune of Rs 16934 crores till September 21.”
Shares of SAMHI Hotels made a tepid debut on Dalal Street on Friday as the hotel chain was listed at a premium of 7 per cent at Rs 134.50 on the National Stock Exchange (NSE) against the issue price of Rs 126. Similarly, the stock kicked-off its maiden trading session at a premium of 4% at Rs 130.55 on BSE.
Shares of SJVN Ltd fell over a per cent in early deals after the government announced its decision to exercise the greenshoe option in the OFS of the hydroelectric power generation company. The govt is selling up to 4.92 percent stake in the state-run hydroelectric power generator through an Offer for Sale (OFS). SJVN shares fell to Rs 69.45 on the second and last day of the OFS today.
Shares of NBCC gained nearly 3% to Rs 58.78 after the state-owned infra consultant said it bagged a work order worth Rs 100 crore from SAIL. The order entails carrying out several developmental works in the steel company’s township and mines located in Chattisgarh’s Bhilai. Market cap of the firm rose to Rs 58.78 crore.
Shares of Texmaco Rail & Engineering fell nearly 4% to Rs 123.85 in early trade. Total 1.56 lakh shares of the firm changed hands amounting to a high turnover of Rs 1.98 crore on BSE. Market cap of the firm fell to Rs 4041 crore.
Shares of EKI Energy Services slipped 10% to Rs 622.35 in early trade. The stock was among the top BSE losers today. Total 6.91 lakh shares of the firm changed hands amounting to a turnover of Rs 43.63 crore . Market cap of the firm fell to Rs 1712 crore.
Shares of Vedanta Ltd fell to a fresh 52 week low today after the board of the metals and mining firm cleared raising of Rs 2,500 crore through issue of non-convertible debentures on a private placement basis. Vedanta stock hit a low of Rs 224.20 in early deals on BSE. Market cap of the firm slipped to Rs 83,525 crore.
The stock of Glenmark Pharmaceuticals fell 5.57% to Rs 780.15 against the previous close of Rs 828.05 on BSE. The stock declined a day after the global pharmaceutical company and Nirma have inked a definitive agreement to sell a 75% stake in its subsidiary, Glenmark Life Sciences (GLS). The firm will sell the stake for Rs 5,651.5 crore at the price of Rs 615 per share. Market cap of the firm slipped to Rs 22,064 crore.
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