INSUBCONTINENT EXCLUSIVE:
Authors: JordanNEW DELHI: Domestic shares slipped into the negative zone on Thursday, dragged by IT stocks
Weaker global cues amid nervousness over the Sino-US trade talks weighed on investor sentiment.
The SP BSE Sensex dropped 73 points, or 0.21
per cent, to 35,103, while the broader Nifty50 index of the National Stock Exchange (NSE) fell 38.40 points to close below 10,700 at
10,679.
Here are 10 things you need to know about today’s market.
Rising like phoenix from ashesBattered jewellery firm PC Jeweller made a
spectacular turnaround on Thursday and rallied over 28 per cent from the day’s low after the company termed reports of arrest of MD and
CEO Balram Garg by the CBI as "factually incorrect"
The stock hit an intraday low of Rs 95.05 apiece on BSE
The stock eventually closed 10 per cent higher at Rs 121.45 apiece
READ MOREBig Bull-backed firm eyes IPOJohn Energy, backed by ace investor Rakesh Jhunjhunwala, has received markets regulator Sebi's
go-ahead to raise an estimated Rs 350 crore through an initial public offering
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in February and obtained its "observations" on April
27, as per the latest update with the regulator
READ MOREMark Mobius in new avatarVeteran emerging markets fund manager Mark Mobius has teamed up with two former colleagues from US asset
manager Franklin Templeton to launch investment firm Mobius Capital Partners
Carlos Hardenberg, who was lead manager for the flagship Templeton Emerging Markets Investment Trust, and Greg Konieczny, former manager of
Romanian investment fund Fondul Proprietatea, which is managed by Franklin Templeton, will work with Mobius on a triumvirate investment
READ MOREIndiGo crashes on poor Q4 showShares of InterGlobe Aviation plunged as much as 20 per cent after the owner of India’s biggest
carrier IndiGo reported dismal quarterly earnings
The company on Wednesday reported 73.30 per cent YoY drop in profit at Rs 117.64 crore for the period under review
In the process, the stock erased Rs 5,476 crore from its market capitalisation
At close, the stock stood at Rs 1,205.80 apiece on BSE, down 11 per cent
READ MOREHCC dives post Lavasa commentShares of HCC (Hindustan Construction Company) nosedived 25 per cent to Rs 17.55 despite management's
clarification to bourses reiterating that Lavasa continued to work closely with lenders for resolution
In its BSE filing, the company said, "In so far as the company's stock price movement is concerned, the same is market regulated and we
would not like to speculate on the reasons for the decrease in the stock price today
However, we believe that selective reporting of the facts has resulted in an adverse impact to our share price."
Adani Ports profit shares
dropThe company on Thursday reported 20.5 per cent decline in consolidated profit at Rs 926.77 crore against Rs 1,166.91 crore in the
corresponding quarter last fiscal
Revenue from operations stood at Rs 3,183 crore, up 43 per cent
Total comprehensive income attributable to equity holders stood at Rs 938 crore compared with Rs 1179.30 crore in the year ago quarter
The stock settled at Rs 396.80 apiece on BSE, down nearly 1 per cent
Spurt in open interestHCC witnessed the biggest spike in open interest at 56.58 per cent, followed by Just Dial (52.54 per cent) and IndiGo
(44.21 per cent).
Block deal in Fortis HealthcareShares of Fortis Healthcare ended flat at Rs 158.30 after nearly 2.8 crore shares or 5.4
per cent equity changed hands in two block deals.
HCL set to unseat Wipro as No 3The Indian IT services industry appears set to witness a
major change in its pecking order this quarter
HCL Technologies will likely overtake Wipro in revenues in the ongoing quarter to become the third largest company – after TCS and Infosys
– going by the upbeat revenue guidance for the ongoing fiscal that it provided on Wednesday
Shares of HCL Tech settled 7.49 per cent lower at Rs 926.10 apiece while those of Wipro fell 2 per cent to Rs 270.15 apiece
READ MOREEdelweiss Q4 net jumps 46%Edelweiss Financial Services today reported 46 per cent rise in consolidated net profit at Rs 248.22
crore for the March quarter, driven by higher income from fee and insurance premium as well as fund-based activities
The stock closed at Rs 295.554.45 apiece on BSE, up 4.45 per cent
