Market Live: Sensex soars 280 pts; Bank Nifty,Midcap at fresh highs; Adani Enterprises up 26.71%
BT Online New Delhi Last Updated: April 18, 2017 | 11:10 IST 
MARKET NEWS
ADANI ENTERPRISES
Adani stocks extend gains on Tuesday.
Adani Ent is the stock of the hour as it trades over 26 per cent on the BSE.
5.6 lakh shares trade in A block on the NSE at Rs 153.25 per share.
INDIABULLS
The Indiabulls Real Estate stock rose up to 40 per cent in trade on Monday after its board considered the restructuring of business via demerger.
In a filing to the BSE, the firm said its board considered the possibility of streamlining its existing 'residential', 'commercial' and 'leasing' businesses.
It is one of the stocks to watch out on today's trade.
ITC
The Bombay High Court on Monday said that it will hear a plea against the government and state run insurers like LIC for holding shares in cigarette maker ITC Ltd.
The petition says that when the government is tackling health issues arising out of tobacco consumption should not hold stake in the tobacco business.
The government of India, through five state-run insurance companies and Specified Undertaking of Unit Trust of India, owns a 32 per cent stake in ITC, which caused the stock to decline after the High Court's decision to take on the plea later this month.
WPI
Wholesale inflation numbers were out on Monday with the figure slipping down to 5.7 per cent as food prices edged higher.
Manufactured goods showed a cost decline as did fuel prices.
LIVE UPDATES
11.01 AM:
80 per cent of the Nifty stocks are trading in the green led by RIL, Adani Ports and Hindalco.
Major laggards on the NSE are COAL India and Bharti Airtel.
10.09 AM:
Shares of Delta Corp, Indian real estate, gaming and hospitality corporation that owns and operates casinos and hotels under several brands, has climbed 5.40 per cent on the BSE with a positive bias.
10.00 AM:
BUZZING STOCKS
Adani Enterprises was up 16.82 per cent while Adani Transport was trading over 5 per cent and Adani Ports was up 3 per cent.
TCS was trading flat, up 0.12 per cent as investors awaited its Q4 results after the shareholders approved buyback plan yesterday.
Tata Consultancy Services, India's largest software exporter, on Monday said its shareholders have approved a Rs 16,000 crore share buyback plan.
The board of directors passed the buyback programme through a special resolution saw 99.81 per cent of the total number of valid votes being cast in favour of the proposal, the company said in a regulatory filing.
The proposed shares under the buyback represent 2.85 per cent of the total paid up equity share capital at Rs 2,850 per equity share.
India's IT companies are looking at returning cash to their investors amid uncertainity which is hindering their growth prospects.
Gruh Finance gained 6.54 per cent after the company announced an increase of 25.7 per cent in its net profit at Rs 110.45 crore for the fourth quarter ended March 31, 2017.
Punjab National Bank gained over 1 per cent and Bank of Baroda was up 0.71 per cent after reports that these public banks may take over smaller lenders in a move to raise fresh capital, and changes in the hiring policy, including increased lateral entry.
Among other buzzing stocks were Bank of Inida was up 4.96 per cent and CL educate was up 1.90 per cent.
9.52 AM:
Shares of ITC were trading at 1.34 per cent on the BSE.
9.50 AM:
The S&P BSE Sensex was trading at 29,657.43, surging 245 points while the Nifty50 was at 9,207.30, 68 points higher.
9.02 AM:
Sensex and Nifty gain in pre-opening trade.
8.45 AM:
Indian domestic markets are likely to open on a flat note on Tuesday following Nifty futures on the Singapore Stock Exchange and mixed global cues.
Investors are on the lookout for Tata Consultancy Services after its shareholders on Monday approved the company's Rs 16,000-crore share buyback plan, the company said in a regulatory filing on BSE on Monday.
The IT major will announce its financial results for the quarter ended March 31, 2017 later in the day.
Among the other companies that will announce their Q4 results are: VST Industries, Muthoot Capital Services and Hindustan Oil Exploration.
GLOBAL MARKETS
Hong Kong's Hang Seng Index was trading at 0.86 per cent lower and Shanghai Composite Index was down 0.11 per cent in morning trade. However, Nikkei was trading higher by 0.34 per cent.
On Wall Street, the Dow Jones Industrial Average gained 183.67 points to 20,636.92 on Monday, the S&P 500 added 20.06 points to 2,349.01 and the Nasdaq Composite added 51.64 points to 5,856.79.
