Live: Sensex, Nifty Flat; Rupee Opens Little Changed
Money Market Update
The currency has opened flat in today's session after ending higher for the second straight day on Thursday.
The rupee opened at 73.48 against the U.S. Dollar as compared to Thursday's close of 73.46.
Yield on the 10-year government bond opened at 6.047% as compared to Thursday's close of 6.053%.
Bond market traders will keep an eye on the government's plan to sell bonds worth Rs 30,000 crore.
The Reserve Bank will also hold 56-day term repo auctions today worth Rs 50,000 crore.
Traders are lightening their sovereign bond positions on supply worries, advance tax outflows and inflation data next week, according to AU Small Finance Bank.
Stock Reaction: Amber Enterprises
The company informed the exchanges that it has raised Rs 400 crore through its QIP issue which opened on September 7 and was closed on September 10.
The company will now allot close to 22.5 lakh shares at eligible qualified buyers at an issue price of Rs 1,780 per share.
The issue price is a 1% discount to the floor price set for the QIP issue.
33 lakh shares of the company exchanged hands in a single large trade at the start of the session, as per Bloomberg data. Buyers and sellers are unknown.
Shares fell as much as 3.75% to Rs 1,835 and are down for the second straight day.
Coronavirus India Update
- India reports yet another day of a record spike in new Covid-19 cases
- 96,551 new cases reported in the last 24 hours.
- Total confirmed cases now at 45,62,414
- Active cases at 9,43,480
- Patients cured / discharged / migrated at 35,42,663
- Death toll rises to 76,271
- 1,209 deaths reported in the last 24 hours
- 70,880 patients recovered in the last 24 hours
Earnings Reaction: Hindustan Copper Q1FY21
The company reported a 42% year-on-year growth in its revenue for the quarter ended June at Rs 431.4 crore.
Net profit rose nearly 40% to Rs 29.8 crore as compared to the previous year. Inventory gains contributed to the boost in net profit.
Operational performance was subdued. Ebitda fell 7.4% while margins stood at 20% as compared to 30.7% in the previous year.
Margins of the company were impacted due to higher expenses and finance costs.
The company said in a statement that its proposed fund raising plans were postponed due to paucity of time.
Shares gained as much as 8.5% - the biggest single-day gain in two months to Rs 38.3. The stock is up for the second straight day.
Large Trade Alert: Max Healthcare
4.66 crore shares of the company exchanged hands in a single large trade on the Bombay Stock Exchange.
The deal took place during the pre-market block window.
The number of shares exchanged amounts to 5.2% of the total equity of the company.
Buyers and sellers in the trade remain unknown as per data from Bloomberg.
Shares rose as much as 18.6% to Rs 132.55, post the deal. The stock is up for the third straight day.