Live: Sensex, Nifty Little Changed; Rupee Opens Flat
All But One Stock In The PSU Bank Index Decline
Stock Reaction: Affle India
The company through its subsidiaries announced the signing of definitive agreements to acquire full control of Singapore-based Appnext.
The deal will allow Affle to acquire 100% of Appnext app discovery and recommendation platform with immediate effect.
The company will initially acquire a 66% stake for $17.25 million, post which, the rest of the stake can be acquired upon attainment of mutually agreed growth targets.
The Appnext platform transforms ads into app recommendations as a service for consumers and thus strengthens our CPCU business model by enabling greater RoI for advertisers.Anuj Khanna Sohum, Chairman & MD, Affle India
Shares gained as much as 5% to Rs 1,555.55 post the announcement. The stock has gained only twice in the last seven trading sessions.
Large Trade Alert: HDFC Bank
39 lakh shares of India's largest private bank exchanged hands on the National Stock Exchange in two large trades.
The first trade saw 27.6 lakh shares exchange hands while 11.44 lakh shares exchanged hands in the second large trade, according to Bloomberg data.
Buyers and sellers of the trade remained unknown.
Shares fell as much as 1.1% to Rs 1,005 down for the second straight day.
Earnings Reaction: Inox Leisure
The movie exhibitor reported a loss of Rs 82.2 crore in the quarter gone by, due to changes in taxation norms and the lockdown imposed on account of Covid-19.
It had an impact of Rs 69.9 crore due to deferred tax measurement on account of change in tax rates.
The 22.4% drop in the company's revenue was attributed to the Covid-19 lockdown. The resultant economic impact also led to advertising revenue growth remaining flat at 1%.
Ebitda rose 13.9% while margins expanded to 29.6% from 20.2% due to IND-AS 116.
Shares fell as much as 7.7% to Rs 261.3 post the announcement, down for the second straight day. The stock snapped a five-day winning streak on Monday.
Opening Bell: A Subdued Start
Indian equity markets opened little changed, in-line with its Asian peers who gave up gains after a strong start. Futures on the Dow Jones too are little changed.
The S&P BSE Sensex opened 0.44% higher at 34,520, while the NSE Nifty 50 index opened 0.1% higher at 10,181. Both benchmarks ended 0.25% higher on Monday.
Sectoral indices too had a subdued start with the Nifty Bank, Nifty Auto and Nifty Realty opening with gains of 0.5%. Nifty I.T. and Nifty Media opened with a negative bias.
Market breadth on open stood in favour of the gainers. 1,286 stocks on the National Stock Exchange opened with gains while 604 opened with losses.