Facebook Pixel Code

Capri Global, Cairn India, ITC among 10 stocks that hogged limelight today

Cairn India has reported a 4.34% fall in oil and gas production (Gross operated) for the second quarter of fiscal 2016-17 at 18.07 million barrels of oil equivalent as compared to 18.89 barrels of oil equivalent in the same quarter last year.

bse sensex nse nifty
The Benchmark BSE Sensex opens in negative, was trading 11.48 points down at 26,138.76, NSE Nifty was down by 0.11% at 8,065.10. (Reuters)

The BSE Sensex closed 21.20 points down at 28082.34, while NSE Nifty settled 11.20 points down at 8708.80. This week, traders will be eyeing the macro data scheduled to be announced through the week starting with factory output numbers later in the day. Vinod Nair, head of research, Geojit BNP Paribas Financial Services said, “Domestic market was in a lacklustre mood on Monday ahead of holidays and traded within a narrow range but with a positive bias. Macro data like IIP, CPI and WPI will be keenly watched, while the focus would be on Q2 results which starts this week.”

Below are 10 stocks that remained in news today:

ONGC: The company has signed a preliminary agreement to take an operating stake in Gujarat government firm Gujarat State Petroleum Corp (GSPC)’s KG basin gas block. The Memorandum of Understanding (MoU) signed last week has a dispute resolution mechanism set out wherein any differences over issues like valuation or natural gas reserves would be referred to a three-member committee of outside experts. GSPC was to begin gas production from the block in 2013 but after sinking in $3.6 billion it was found that gas reserves are one-tenth of 20 trillion cubic feet claimed in 2005 and that too is technically difficult to produce. Shares of ONGC closed 0.07 per cent down at Rs 267.50.

Capri Global: Capri Global is planning to raise Rs 800 crore including Rs 500 crore through non-convertible debentures (NCDs) and Rs 300 crore through commercial paper. The board of the company at its meeting held on October 8, 2016 gave its approval for the same. Shares of the company closed 4.29 per cent down at Rs 369.95.

ITC: The FMCG major would divest 100 percent of its equity stake in US-based King Maker Marketing Inc for an estimated consideration of $24 million. The company has entered into an agreement with the US-based buyer, Premier Manufacturing Inc, to sell its shares in the subsidiary company. The corporate management committee has approved divestment of company’s entire shareholding (204 shares of common stock with no par value) in King Maker Marketing Inc, US, a wholly-owned subsidiary, along with assignment of certain trademarks owned by the company, pursuant to the authority given by the Board of Directors of the company. The scrip closed 0.42 per cent up at Rs 240.15.

Dr Reddy’s Labs: The pharma major has forayed into the Colombian market with its portfolio of high quality and affordable medicines for cancer drugs. The Hyderabad-based firm operates in all major markets including the US, Russia, CIS countries and Europe with a workforce of above 20,000 employees. Currently, Dr Reddy’s is the second largest generic oncology injectable company by value in the US and leading generic oncology firm in India. Shares of Dr Reddy’s Labs closed 0.80 per cent up at Rs 3078.65

A2Z Infra Engineering: Shares of A2Z Infra Engineering jumped nearly 5 per cent after it announced that the company has bagged order worth Rs 96 crore from Jharkhand Urja Sancharan Nigam (JUSNL). The order is for design, engineering, supply, erection, testing and commissioning on turnkey basis of deposit work of SAIL.

RBL Bank: RBL Bank, NeoGrowth Credit and Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. The bank will lend to NeoGrowth to enable it to provide loans to SMEs excluded from mainstream funding. This financing will be backed by a $5 million loan guarantee from OPIC. NeoGrowth, a non-banking finance institution, uses innovative technology to serve the funding requirements of SMEs, which do not get loans easily from commercial banks owing to their small size, inadequate credit history and lack of collateral. RBL Bank’s loan will allow NeoGrowth to provide loans ranging from Rs 200,000 to Rs 75,00,000 to the retail SMEs. RBL Bank closed 1.36 per cent up at Rs 312.55.

Shiva Cement: Shiva Cement shares surged nearly 10 per cent after reports that the company is planning to sell its integrated cement plant in Orissa.

BHEL: Bharat Heavy Electricals (BHEL) has commissioned another 660 MW coal based supercritical thermal power plant in Uttar Pradesh. The commissioning of the unit will result in significant improvement of electricity availability in Uttar Pradesh. In past 15 months, company has added 4,300 MW of power generation capacity in the state of Uttar Pradesh. The unit has been commissioned at the 3×660 MW Prayagraj Super Thermal Power Project, located in Bara tehsil in Allahabad district of Uttar Pradesh. The project is owned by Prayagraj Power Generation Company (PPGCL), a subsidiary company of Jaiprakash Power Ventures. This is the second unit of the project to be commissioned. The first unit was commissioned earlier by BHEL in December, 2015 and the third unit of the project is also in an advanced stage of construction. Shares of BHEL settled 0.30 per cent down at Rs 135.15.

Steel Strips Wheels: Steel Strips Wheels has bagged an export order for supply of Caravan Steel wheels for EU Trailer market. Total order is for supplying approximately 1,15,000 wheels in a period of six months. Orders will be executed from SSWL’s Chennai plant with shipments starting from November 2016. Shares of the company settled 7.24 per cent up at Rs 725.20.

Cairn India: Cairn India has reported a 4.34% fall in oil and gas production (Gross operated) for the second quarter of fiscal 2016-17 at 18.07 million barrels of oil equivalent as compared to 18.89 barrels of oil equivalent in the same quarter last year. The company’s production for the H1FY17 also declined 5.27% to 35.98 million barrels of oil equivalent as compared to 37.98 million barrels of oil equivalent in the previous fiscal.

If you are keen to know more about Nifty 50 and BSE Sensex levels and seek expert advice on what’s driving the gains and how to build your portfolio, track the latest stock market stats, share market news and top brokerage bets on Financial Express. Download the Financial Express App for the fastest and most reliable business news alerts, key investment strategies and latest movers and shakers from across financial market.

First published on: 10-10-2016 at 09:11 IST
Market Data
Market Data
Today’s Most Popular Stories ×