INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Chinese President Xi Jinping's pledge to open up the country’s economy further and lower import tariffs on products brought
cheers to global financial markets, including India
His speech gave a much-needed relief to the investors fretting over an impending trade war between the US and China.
The bulls on Dalal
Street retained their command on Tuesday, taking their winning streak to the fourth session in a row
The Sensex went home with 92 points gain at 33,880.25, while the Nifty50 ended 23 points higher at 10,402.25
Here's a look at the top developments from Dalal Street: Future Lifestyle Fashions spurtsApparel accessories retailer Future Lifestyle
Fashions ended 5 per cent higher at Rs 443.35 after foreign brokerage CLSA initiates coverage with ‘buy’ rating with target price of Rs
CLSA expects the company to post 22 per cent ebitda CAGR in FY18-21, driven by robust network addition, particularly in Brand Factory
outlets, and operating leverage benefits.
Axis Bank ralliesAxis Bank stock ended over 5 per cent higher after the board of directors
informed the RBI that CEO Shikha Sharma has requested them to reduce her fourth term up to December 2018 instead of earlier May 2021
The stock jumped 6.10 per cent to hit a high of Rs 549.50 on BSE, eventually closing at Rs 546, up 5.43 per cent.
Stocks in newsMinda
Industries: The company on Tuesday announced its board has approved the acquisition of 41.67 per cent stake (i.e
18,33,35,070 equity shares) of Toyoda Gosei Minda India (TG Minda)
TG Minda is a Joint Venture Company of UNO Minda Group and Toyoda Gosei, Toyota Tsusho Corporation, Japan
The stock closed flat at Rs 1,121.50, down 0.46 per cent
Avenue Supermarts: The company hit new milestone, as its market capitalisation surpassed the Rs 90,000 crore-mark for the first time ever
since listing on March 21, 2017
At close, the m-cap stood at Rs 92,904.34 crore
The stock settled at Rs 1,488.65 on BSE.
YES Bank: The private lender is likely to consider borrowing/raising funds in Indian/foreign
currency by issue of debt securities
The stock on Monday shut shop at Rs 319.25 on BSE, up nearly 1 per cent
Block dealShares of Supreme Industries ended nearly 1 per cent lower at Rs 1,208.55 on BSE after 17.7 lakh shares or 1.4 per cent equity
changed hands in a block.
Lemon Tree fizzles out post solid debutShares of Lemon Tree Hotels slumped over 6.42 per cent to end at Rs 67
On Monday, the stock made a strong debut on the bourses with the stock closing at Rs 71.60, which was 28 per cent above the issue price
The stock had listed at Rs 61.60 on the BSE, which is 10 per cent above the company’s issue price of Rs 56 per share.
Most active stocksJP
Associates (down 1 per cent), Reliance Communications (down 2 per cent) and GMR Infra (up nearly 1 per cent) were the most active stocks in
terms of volume while ICICI Bank (up 3 per cent), Axis Bank (up 5 per cent) and Tata Steel (up 3 per cent) emerged as most active stocks in
Heard on D-StreetIPO mart: Hinduja Leyland Finance plans to file a draft prospectus later this month as it looks to revive an IPO of up to
Rs 1,000 crore, people with knowledge of the transaction said
The IPO is likely to be launched in the second half of 2018
READ MOREChange of guard: Rishad Premji has been appointed as Nasscom Chairman for 2018-19
Rishad Premji is the Chief Strategy Officer Member of the Board at Wipro.
Spurt in open interestMahanagar Gas witnessed the biggest spike
in open interest at 79.39 per cent
Balrampur Chini Mills (35.35 per cent) and Axis Bank (22.73 per cent) were the next on the list
Global StocksChina's blue chip index CSI300 rose 1.9 per cent, to 3,927.17 points, while the Shanghai Composite Index gained 1.7 per cent
to 3,190.32, in their best single-day performance in seven weeks
On similar lines, Japanese stocks rose to a near one-month high on Tuesday, led by automakers
The Nikkei rose 0.5 per cent to 21,794.32, the highest closing level since March 15, but off an intraday high of 21,933.99
European shares too rose in the early deals.
