ETMarkets After Hours: RComm slips 5% on jobs cut buzz; Bhushan Steel surges 10%
The benchmark equity indices slipped for the third straight session on Monday, as market participants awaited March quarter earnings to take fresh positions. Subdued Asian cues on rising geopolitical tension between the US and Syria also affected market sentiment.
The 30-share BSE Sensex closed 130 points, or 0.44 per cent, down at 29,575, while the 50-share NSE Nifty index settled at 9181, down 0.18 per cent, or 16.85 points from the previous close.
Here’s a look at the stocks and sectors that hogged limelight on Monday:
Captain jumps ship: Shares of skills and talent development company NIIT plunged over 10 per cent in intraday trade on Monday after the company announced that its CEO Rahul Keshav Patwardhan resigned due to personal reasons. Shares of NIIT closed 5.61 per cent down at Rs 78.20.
Buzz hit the RComm: Shares of Reliance Communications declined nearly 5 per cent after reports that the company had laid off over 600 staff in an ongoing effort to make itself a leaner organisation. The country’s fourth largest telecom company is in merger talks with Aircel and MTS. Retrenchment over the last few weeks has even hit some middle and senior managers — in the Rs 30-50 lakh salary bracket. Shares of the company closed 4.72 per cent down at Rs 37.35.
Metallic touch: Shares of Bhushan Steel surged over 13 per cent to their highest level since July 2015 after reports that the company had last month submitted final proposal for debt restructuring under the central bank’s S4A scheme. Shares of the company settled 13.26 per cent up at Rs 68.35.
52-week high: Despite a weak trend in broader markets, over 120 stocks on NSE hit their fresh 52-week highs in Monday’s trade. The list included Atul, Bajaj Finance, DCM Shriram, Deepak Nitrite, InterGlobe Aviation, IIFL Holdings, The Great Eastern Shipping Company, Indian Oil Corporation, Jai Balaji, LIC Housing Finance, Madras Fertilizers, RBL Bank and Oriental Bank of Commerce. On the other hand, Nagarjuna Agrichem, TTK Healthcare, Poddar Housing and VKS Projects hit their new 52-week high during the day.
Sectorwise: Among the sectoral indices on BSE, the BSE IT index tumbled the most 1.62 per cent, followed by TECk (down 1.10 per cent), Realty (down 0.70 per cent) and Consumer Durables (down 0.42 per cent). On the other hand, metal, oil & gas indices and Bankex advanced 0.93 per cent, 0.88 per cent and 0.53 per cent, respectively.
Spurt in OI: Stock futures of Escorts saw the biggest jump in open interest (OI) at 39.02 per cent. It was followed by InterGlobe Aviation (32.49 per cent), Indian Bank (23.90 per cent) and UBL (up 20.81 per cent).
Most active securities: Suzlon emerged as the most active stock in terms of traded volume on NSE on Monday. It was followed by JP Associates, Marksans, Electrosteel Steels, Reliance Communications and Ashok Leyland.
The 30-share BSE Sensex closed 130 points, or 0.44 per cent, down at 29,575, while the 50-share NSE Nifty index settled at 9181, down 0.18 per cent, or 16.85 points from the previous close.
Here’s a look at the stocks and sectors that hogged limelight on Monday:
Captain jumps ship: Shares of skills and talent development company NIIT plunged over 10 per cent in intraday trade on Monday after the company announced that its CEO Rahul Keshav Patwardhan resigned due to personal reasons. Shares of NIIT closed 5.61 per cent down at Rs 78.20.
Buzz hit the RComm: Shares of Reliance Communications declined nearly 5 per cent after reports that the company had laid off over 600 staff in an ongoing effort to make itself a leaner organisation. The country’s fourth largest telecom company is in merger talks with Aircel and MTS. Retrenchment over the last few weeks has even hit some middle and senior managers — in the Rs 30-50 lakh salary bracket. Shares of the company closed 4.72 per cent down at Rs 37.35.
Metallic touch: Shares of Bhushan Steel surged over 13 per cent to their highest level since July 2015 after reports that the company had last month submitted final proposal for debt restructuring under the central bank’s S4A scheme. Shares of the company settled 13.26 per cent up at Rs 68.35.
52-week high: Despite a weak trend in broader markets, over 120 stocks on NSE hit their fresh 52-week highs in Monday’s trade. The list included Atul, Bajaj Finance, DCM Shriram, Deepak Nitrite, InterGlobe Aviation, IIFL Holdings, The Great Eastern Shipping Company, Indian Oil Corporation, Jai Balaji, LIC Housing Finance, Madras Fertilizers, RBL Bank and Oriental Bank of Commerce. On the other hand, Nagarjuna Agrichem, TTK Healthcare, Poddar Housing and VKS Projects hit their new 52-week high during the day.
Sectorwise: Among the sectoral indices on BSE, the BSE IT index tumbled the most 1.62 per cent, followed by TECk (down 1.10 per cent), Realty (down 0.70 per cent) and Consumer Durables (down 0.42 per cent). On the other hand, metal, oil & gas indices and Bankex advanced 0.93 per cent, 0.88 per cent and 0.53 per cent, respectively.
Spurt in OI: Stock futures of Escorts saw the biggest jump in open interest (OI) at 39.02 per cent. It was followed by InterGlobe Aviation (32.49 per cent), Indian Bank (23.90 per cent) and UBL (up 20.81 per cent).
Most active securities: Suzlon emerged as the most active stock in terms of traded volume on NSE on Monday. It was followed by JP Associates, Marksans, Electrosteel Steels, Reliance Communications and Ashok Leyland.
