Amol Athawale, Vice President - Technical Research, Kotak Securities
World equity markets, including India, are under the grip of a sharp rise in US bond yields which has led to currency depreciation in China and other emerging markets. This has prompted investors to park their funds in safe haven dollar securities by exiting risky equity assets. The consolidation phase in local markets could continue for some more time as worries over further interest rate hikes in the US and other key economies coupled with higher inflation and slowing growth in China would curb appetite for equity as an asset class in the near term. A sharp fall in tech-heavy Nasdaq triggered a sell-off in domestic IT stocks, while other sectors too came under selling pressure due to weak global cues.
Technically, on daily and intraday charts, the Nifty is holding a lower top formation and on weekly charts it has formed a small bearish candle, which is largely negative. However, on the lower side it is consistently taking support near the 50-day SMA or 19250/64750 (Simple Moving Average). A fresh sell off could be seen only after the dismissal of the 50 day SMA or 19250 level, below which the index could slip till 19200-19100. On the flip side, 19400 would act as a key resistance level for the bulls and above the same, the index could rise till 19450-19500. In the case of Bank Nifty, weak sentiment is likely to continue till the time the index is trading below 44100. Below which, it could slip till 43500 – 43200. On the flip side, above 44100 it could move up till 44400-44600.
Rupak De, Senior Technical analyst at LKP Securities:
The index has consistently remained below its 21-day Exponential Moving Average (EMA), a sign that underscores the prevalence of a bearish trend. On the lower end, support is placed at 19250. A fall below 19250, may trigger a correction towards 19000 and lower. On the higher end, resistance was placed at 19500.
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas:
The Nifty witnessed yet another weak day of trade. It closed in the negative down ~55 points. On the daily charts, we can observe that the Nifty has closed decisively below the 40-day moving average (19358) which is a sign of weakness. Because of the fall in the last couple of trading sessions, the Nifty has also closed in the negative for the fourth consecutive week and the weekly momentum indicator has also triggered a negative crossover which indicates that weakness is setting in on a higher time frame. The lower top lower-bottom formation is still intact and hence the downtrend is intact. On the downside we expect the Nifty to target levels of 19100.
Bank Nifty has continued with its losing streak and closed in the negative for the seventh consecutive trading session. It has reached the 20-week moving average (43800) and hence the fall may not be severe from current levels. The trend is still negative however, oversold and we can observe divergence on the hourly charts however it needs to be confirmed by the price. Until the Bank Nifty trades below 44000, we can expect the weakness to continue. On the downside, it can slip towards 43500.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
Sensex and Nifty declined this week following the weakness in most global equity markets. BSE Mid-cap and BSE Small-cap indices saw some correction. Sectorally, most of the indices posted negative returns. Amongst them, the sectoral indices that underperformed the broader markets includes BSE Metals, BSE Energy and BSE Oil & Gas.
Weak monsoon conditions has prevailed over most parts of India resulting into deficient monsoon in August. India’s CPI inflation in July 2023 surged to 7.4% (from 4.8% in June 2023), led by high vegetable prices. Brent crude oil price corrected this week, but remains above the price range witnessed a few months back. Q1FY24 results showed weakness in consumption demand; however, investment demand continues to be strong. Further, Q1FY24 results also showed further improvement in profitability.
Ajit Mishra, SVP - Technical Research, Religare Broking
It turned out to be a roller coaster ride on Friday as Nifty oscillated on both sides and ended lower. Meanwhile, the majority of sectors felt the heat wherein IT, realty and pharma were among the top losers. The broader indices too traded in sync and lost nearly half a percent each.
Fresh weakness in the US markets is largely weighing on the sentiment however the pace of decline is still capped. Though we are seeing resilience in select pockets, we feel it is prudent to book some profits off the table and maintain a few shorts also. On the index front, Nifty would face first hurdle around 20 EMA, which currently lies around 19500 levels. And, we are eyeing 19,100 levels to act as the next crucial support.
Vinod Nair, Head of Research at Geojit Financial Services:
Concerns regarding inflation and shifts in investor preferences towards safer assets dampened overall market sentiment for domestic equities. Fears of a Fed rate hike, coupled with a decline in global equities, exerted additional downward pressure, specifically on IT stocks. Higher US bond yields and default risk in China are poised to prompt FIIs to adopt a more prudent stance when considering investments in emerging markets.
Dilip Parmar, Research Analyst, HDFC Securities:
Indian rupee recovered slightly from its record closing low on Thursday supported by lower US treasury yields and the greenback against Asian currencies. The local unit has marked a fourth week of losses in five amid broad dollar strength and risk-averse sentiments. However, the local unit remained the median performer among Asian currencies as RBI has been likely intervening in the market along with corporate dollar inflows. In the near term, RBI may try to protect the level of 83.30 but the direction remains upwards for USDINR as long as it holds 82.70.
S Ranganathan, Head of Research at LKP securities:
Benchmark Indices ended in the red today on the back of profit taking seen in IT stocks as well as PSU stocks. The 6% deficiency in the Monsoon was an important factor with several states witnessing deficits across districts. The Evergrande Bankruptcy in China though was brushed away since real estate loans in India are by and large regulated well in India now.
Rupee Close:
Indian rupee ended marginally higher at 83.10 per dollar versus previous close of 83.15.
Market Close:
Benchmark indices ended lower in the volatile session on August 18 with Nifty around 19,300.
At close, the Sensex was down 202.36 points or 0.31 percent at 64,948.66, and the Nifty was down 55.10 points or 0.28 percent at 19,310.20. About 1523 shares advanced, 1978 shares declined, and 133 shares unchanged.
Major losers on the Nifty included Hero MotoCorp, TCS, Coal India, Hindalco Industries and Tech Mahindra, while gainers were Adani Enterprises, Adani Ports, Eicher Motors, Maruti Suzuki and Nestle India.
Except FMCG and Power, all other sectoral indices ended in the red with Information Technology index shed 1.5 percent and Metal index down nearly 1 percent.
The BSE midcap and smallcap indices ended on a negative note.
Sensex Today | Pyramid Technoplast IPO fully subscribed on debut, retail portion booked 1.46 times
Pyramid Technoplast's initial public offer has garnered a positive response from investors on the first day of bidding, August 18, after it fully subscribed, getting bids at 75.38 lakh equity shares against the IPO size of 75.60 lakh shares.
Retail investors, having a 50 percent quota in the issue, were ahead among investors, in the bidding, buying 1.46 times the reserved portion, while the 20 percent portion set aside for high networth individuals (non-institutional investors) was subscribed 42 percent.
Qualified institutional buyers (QIB) have bought 5 percent shares of their quota, which is 30 percent in the Pyramid Technoplast IPO.
Sensex Today | Gold en route to third weekly fall on fading bets for Fed cut
Gold steadied off its lowest since March on Friday as the dollar and bond yields eased, on course for a third straight weekly dip as strong U.S. economic data reinforced bets that the Federal Reserve will keep interest rates high.
Spot gold rose 0.1% to $1,890.60 per ounce by 0935 GMT, after touching its lowest in five months on Thursday. U.S. gold futures rose 0.3% to $1,920.80.
The dollar was down 0.1%, making gold cheaper for holders of other currencies.
Stock Market LIVE Updates | Investec View On HDFC Bank
-Hold rating, target at Rs 1,735 per share
-Biggest unknown facing bank is the proforma balancesheet & P&L post merger
-Several accounting-related adjustments that will impact proforma BVPS & RoA
-Attempt to quantify the impact on both BVPS & PAT
-Merged BVPS could be lower by 2.5-3 percent due to accounting adjustments
-Post-merger P&L of HDFC ltd to be lower by 9-10 percent
-Adjust estimate along with other balancesheet & liabilities related adjustments
Sensex Today | China unveils measures to revive stock market
China's securities regulator said on Friday it would cut trading costs, support share buybacks and introduce long-term capital as it unveiled a package of measures aimed at reviving the stock market and boosting investor confidence.
The China Securities Regulatory Commission (CSRC) said it was not aware if there would be a cut in stamp duty, a measure which has been hotly discussed recently but is beyond CSRC's power.
Other measures laid out by the CSRC include boosting the development of equity funds, studying plans to extend trading hours, and improving the attractiveness of listed companies.
Stock Market LIVE Updates | Knowledge Marine & Engineering bags order from Myanmar Port Authority
Knowledge Marine & Engineering has received a Letter of Award for the work of “Yangon River Dredging Work” from Myanmar Port Authority for an amount of USD 2,199,990. The said contract is to be executed within a period of six months commencing from 1st October, 2023.
Stock Market LIVE Updates | Lupin to acquire Ondero & Ondero - Met brands from Boehringer Ingelheim
Lupin entered into deed of assignment with Boehringer Ingelheim International GmbH, Germany, for acquisition of the brands Ondero and Ondero - Met (including trademark rights associated with the brands).
Sensex Today | Morgan Stanley View On Indian Equities:
Beat in revenue growth combined with a sharp but anticipated margin expansion
Earnings growth exceeded our analysts' expectations
Broad market earnings were up sequentially but underperformed
Earnings up-cycle trend in India remains intact
Stock Market LIVE Updates | USFDA classifies Concord Biotech's manufacturing unit as no action indicated
United States Food and Drug Administration (USFDA) had conducted an inspection at Concord Biotech's manufacturing unit III, Plot No. 84 And 668, Ranasar and Malawada, Limbasi Sojitra Road, Near Limbasi, Taluka- Matar, Kheda, Gujarat from Monday, 26th June, 2023 to Friday 30th June, 2023.
The company has now received the Establishment Inspection Report (EIR) indicating closure of inspection and classifying the facility as "no action indicated" (NAI).
Based on this inspection and the USFDA NAI classification, this facility is in compliance with regard to current good manufacturing practices (cGMP).
Sensex Today | Market at 3 PM
The Sensex was down 79.30 points or 0.12 percent at 65,071.72, and the Nifty was down 19.60 points or 0.10 percent at 19,345.70. About 1371 shares advanced, 1759 shares declined, and 101 shares unchanged.
| Company | Price at 14:00 | Price at 14:52 | Chg(%) Hourly Vol |
|---|---|---|---|
| Foce India | 800.00 | 729.15 | -70.85 0 |
| Sahana Systems | 172.50 | 165.00 | -7.50 5.43k |
| Mukta Arts | 60.80 | 58.50 | -2.30 63.08k |
| Intrasoft Tech | 125.75 | 121.00 | -4.75 40.53k |
| Remus Pharmaceu | 4,775.00 | 4,600.00 | -175.00 631 |
| Maha Rasht Apex | 146.00 | 141.00 | -5.00 1.01k |
| DCI | 155.45 | 150.20 | -5.25 18 |
| Supreme Petro | 446.90 | 432.90 | -14.00 6.33k |
| Baheti Recyclin | 127.45 | 123.55 | -3.90 1.84k |
| Deep Energy Res | 122.00 | 118.50 | -3.50 139 |
| Company | Price at 14:00 | Price at 14:52 | Chg(%) Hourly Vol |
|---|---|---|---|
| PPAP Automotive | 198.50 | 218.50 | 20.00 2.59k |
| KRISHCA | 248.90 | 270.00 | 21.10 7.47k |
| Aristo Bio-Tech | 67.60 | 72.05 | 4.45 0 |
| Maral Overseas | 51.25 | 54.50 | 3.25 203 |
| Agri-Tech | 170.00 | 180.75 | 10.75 4.97k |
| Technocraft Ind | 1,930.25 | 2,048.10 | 117.85 3.13k |
| Indo Tech Trans | 383.25 | 402.50 | 19.25 8.95k |
| Crest Ventures | 231.55 | 242.75 | 11.20 11.84k |
| Aarvee Denim | 22.70 | 23.75 | 1.05 357 |
| Sangani HOSP | 40.30 | 42.00 | 1.70 7.53k |
Sensex Today | Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas
Indian Rupee declined marginally on weak domestic markets and FII outflows. However, softness in US Dollar cushioned the downside. US Dollar eased as Chinese central bank intervened after Yuan fell to a 16-year low. Dollar gained on Thursday as US weekly unemployment claims declined to 239,000 as compared to 250,000 in the previous week showing a tight labour market. Phily Fed manufacturing index rose to 12 in August 2023 as compared to -3.5 in July 2023, the biggest rebound 3 years.
We expect Rupee to trade with a negative bias on risk aversion in global markets and overall strength in the greenback. Recovery in crude oil prices may also weigh on Rupee. However, any intervention by the Reserve Bank of India may support Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.50.
Stock Market LIVE Updates | Jefferies View On Transport & Logistics
-Global container trade volumes remain muted & freight rates are down
-July saw a sharp recovery in India’s major ports’ container & EXIM rail volumes
-Overall major ports’ volumes are up 2 percent YoY in Apr-Jul 2023 & container 4 percent YoY
-Dedicated freight corridor should contribute ahead
-CONCOR, Delhivery & TCI Express are our top picks
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Adani Wilmar | 384.00 | 4.32 | 4.90m |
| Emami | 526.15 | 3.35 | 1.00m |
| PB Fintech | 729.10 | 2.67 | 605.53k |
| Prestige Estate | 563.20 | 2.61 | 220.98k |
| Bank of India | 91.30 | 2.18 | 15.03m |
| JSW Energy | 359.05 | 1.84 | 2.93m |
| AU Small Financ | 710.75 | 1.77 | 1.80m |
| Escorts Kubota | 2,839.20 | 1.75 | 1.12m |
| Dixon Technolog | 4,764.00 | 1.74 | 415.00k |
| Max Financial | 873.00 | 1.72 | 1.43m |
Stock Market LIVE Updates | Hemisphere Properties gains 3%; teams up with Jones Lang LaSalle for Pune land deal
Hemisphere Properties India Ltd jumped 3 percent to Rs 118 a share on BSE after the company said engaged Jones Lang LaSalle as transaction advisor for the Pune land parcel
Stock Market LIVE Updates | Indian Hume Pipe gains 6% after Rs 639 crore order
Shares of Indian Hume Pipe Co Ltd gained over 6 percent to Rs 289 on BSE after the company said in a notice to exchanges that it got Rs 639 crore water supply project.
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| GMM Pfaudler | 1,505.20 | 1,520.60 1,350.00 | 11.5% |
| Lloyds Metals | 570.10 | 592.00 526.30 | 8.32% |
| Adani Power | 309.35 | 321.00 286.40 | 8.01% |
| Sterling Wilson | 372.00 | 378.00 344.90 | 7.86% |
| Vardhman Text | 365.35 | 371.80 339.75 | 7.53% |
| Adani Trans | 880.10 | 894.35 822.05 | 7.06% |
| Adani Green Ene | 1,001.65 | 1,025.00 939.50 | 6.62% |
| Campus | 309.70 | 310.90 290.60 | 6.57% |
| Godfrey Phillip | 2,194.55 | 2,219.05 2,071.80 | 5.92% |
| CSB Bank | 317.60 | 329.65 301.20 | 5.44% |
Jefferies View On Chemical Companies
-Agro Chemical destocking pace and breadth is unprecedented
-Destocking could be short, US is sowing season in Q1CY24 critical
-Refgas demand impacted by weak summer & Chinese dumping
-Prefer PI Indistries, await pullback in SRF to potentially turn more constructive
Jio Financial Services to list on August 21
The equity shares of Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities, effective from Monday, August 21, 2023.
Members are requested to note that the above security will be a part of special pre-open session for IPO and Other category of scrip.
Stock Market LIVE Updates | Jefferies View On Finolex Cables
-Buy rating, target at Rs 1,270 per share
-View company as a beneficiary of housing and capex in India
-Strong volume growth in electrical wires drove sales & PAT growth in Q1
-Communication segment is likely to benefit from 5G rollout
-Price erosion in optic fiber could mitigate with import ADD levied from August 5
-Raise FY24-26 EPS estimate by 7-8 percent & sales/PAT CAGR at +19 percent/22 percent
-Expect more than 500 bps rise in RoCE in FY24-26
Stock Market LIVE Updates | Subhasis Sinha resigns as Head-HR of Tribhovandas Bhimji Zaveri
Subhasis Sinha has resigned as Head-HR, senior management personnel of Tribhovandas Bhimji Zaveri with effect from August 16. Sinha resigned due to certain personal family constraints.
Stock Market LIVE Updates | Astral incorporates new subsidiary in United Kingdom
Astral's subsidiary Seal IT Services, UK has incorporated new step–down subsidiary. The main objective of the new subsidiaries is to distribute, transmit & sell building chemicals from UK into Ireland as an EU-Entity for importer responsibilities.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY 50 | 19278.90 -0.45 | 6.48 -0.77 | -2.38 7.36 |
| NIFTY BANK | 43840.65 -0.12 | 1.99 -0.81 | -3.46 10.55 |
| NIFTY Midcap 100 | 37758.80 -0.36 | 19.83 -0.20 | 3.19 20.02 |
| NIFTY Smallcap 100 | 11665.60 -0.68 | 19.88 -0.70 | 3.08 21.85 |
| NIFTY NEXT 50 | 43691.50 -0.46 | 3.56 -1.96 | -1.11 0.26 |
Sensex Today | BSE Metal index fell 1 percent dragged by Coal India, NMDC, NALCO
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Coal India | 227.20 | -2.2 | 305.83k |
| NMDC | 114.65 | -1.71 | 259.10k |
| NALCO | 86.35 | -1.62 | 97.71k |
| Hindalco | 440.40 | -1.6 | 87.93k |
| SAIL | 84.07 | -1 | 1.46m |
| Tata Steel | 115.00 | -0.9 | 1.02m |
| APL Apollo | 1,548.40 | -0.66 | 11.13k |
| Jindal Steel | 641.50 | -0.58 | 70.96k |
| JSW Steel | 785.75 | -0.53 | 50.76k |
| Vedanta | 232.95 | -0.45 | 215.32k |
TD Power Systems has informed that its website (www.tdps.co.in) is currently non-functional due to an incident of cyber-attack. The Company’s IT team is working to resolve this issue & get the website operational at the earliest. However, all systems for operations of the Company are functioning.
Stock Market LIVE Updates | Deep Polymers to consider equity shares issuance on August 21
Deep Polymers said the board of directors will meet on August 21 to consider a proposal for issuance of equity shares by way of preferential allotment.
Stock Market LIVE Updates | Shrivats Singhania resigns as director & chief executive officer of Udaipur Cement Works
Shrivats Singhania has resigned as director & chief executive officer of Udaipur Cement Works. The shareholders of the company approved Singhania's resignation.
Udaipur Cement Works was quoting at Rs 32.56, up Rs 0.20, or 0.62 percent on the BSE.
Stock Market LIVE Updates | BSE Power index up 0.6 percent led by Adani Power, Adani Green Energy, CG Power
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Adani Power | 304.05 | 6.13 | 2.36m |
| Adani Green Ene | 987.15 | 5.8 | 218.87k |
| CG Power | 426.80 | 3.57 | 79.40k |
| Adani Trans | 848.60 | 3.27 | 202.48k |
| Siemens | 3,614.00 | 1.1 | 4.70k |
| JSW Energy | 355.75 | 0.96 | 66.77k |
Stock Market LIVE Updates | CLSA On PVR Inox
-Reiterate buy rating, target at Rs 2,015 per share
-Success of latest hindi films will likely help address concerns of under delivery
-PVR Inox on 13 Aug achieved its highest-ever admissions & GBOC in a single day
-Industry had its busiest revenue weekend ever with highest admissions in 10 years
-Should add upside to our FY24/26 rev/admits growth estimates of 12/18 percent YoY
-Forecast PVR Inox’s occupancy to rise from 22 percent in 1QFY24 to 30 percent by FY26
-Recent trends reconfirm that multiplexes do not face structural risks from OTT
Sensex Today | Market at 1 PM
The Sensex was down 254.77 points or 0.39 percent at 64,896.25, and the Nifty was down 72.00 points or 0.37 percent at 19,293.30. About 1316 shares advanced, 1758 shares declined, and 104 shares unchanged.
| Company | Bid Qty | CMP Chg(%) | Today Vol 20D Avg Vol |
|---|---|---|---|
| Flexituff Ventu | 19467.00 | 39.28 19.98 | 46215 8337.50 |
| Radaan Media | 171716.00 | 1.47 5 | 626 7860.25 |
| Dynacons Sys | 26164.00 | 638.40 5 | 9729 17992.50 |
| Alankit | 1013.00 | 10.97 4.98 | 149034 44887.70 |
| GVK Power | 8050579.00 | 4.87 4.96 | 1772542 3317505.65 |
| Ravi Kumar Dist | 66025.00 | 16.36 4.94 | 19864 6104.90 |
| Company | Offer Qty | CMP Chg(%) | Today Vol 20D Avg Vol |
|---|---|---|---|
| GCM Securities | 1286693.00 | 1.94 -9.77 | 8237862 - |
| PTC Industries | 458.00 | 5871.00 -5 | 2613 2385.40 |
| Paramount Comm | 106335.00 | 53.50 -4.99 | 765795 331546.95 |
| Nagarjuna Fert | 1440792.00 | 9.57 -4.97 | 85526 291787.90 |
GMM Pfaudler:
Private equity fund DBAG Fund VI sold 13.56% stake via block deals
Geranium, Atreides Investments BV & Infinity Partners buy 9.90% stake
ChrysCapital buys 44.5 lakh shares (9.90% Stake) via block deals today
| Company | Price at 12:00 | Price at 12:54 | Chg(%) Hourly Vol |
|---|---|---|---|
| MPDL | 22.90 | 20.95 | -1.95 263 |
| Vantage Knowled | 166.00 | 151.90 | -14.10 1.45k |
| Escorp Asset Ma | 79.00 | 73.00 | -6.00 21.95k |
| S V J Ent. | 80.00 | 74.20 | -5.80 3.00k |
| Jetking Info | 52.34 | 49.00 | -3.34 27 |
| Alfred Herbert | 800.00 | 750.00 | -50.00 4 |
| Bonlon Industri | 28.90 | 27.26 | -1.64 21 |
| Sam Ind | 71.45 | 67.50 | -3.95 238 |
| Amco India | 57.69 | 54.52 | -3.17 43 |
| Garbi Finvest | 25.89 | 24.50 | -1.39 12 |
| Company | Price at 12:00 | Price at 12:54 | Chg(%) Hourly Vol |
|---|---|---|---|
| Captain Technoc | 145.35 | 168.55 | 23.20 0 |
| CJ Gelatine | 22.75 | 24.90 | 2.15 78 |
| TCI Industries | 1,085.00 | 1,160.00 | 75.00 2 |
| Intrasoft Tech | 120.75 | 128.45 | 7.70 1.17k |
| Kunststoffe Ind | 24.27 | 25.74 | 1.47 68 |
| Sterling Green | 33.00 | 35.00 | 2.00 10 |
| MM Rubber | 125.20 | 132.40 | 7.20 253 |
| Modipon | 37.70 | 39.81 | 2.11 25 |
| Ravi Leela Gran | 30.63 | 32.30 | 1.67 62 |
| Tokyo Plast | 97.19 | 102.00 | 4.81 21 |
| Company | CMP | High Low | Fall from Day's High |
|---|---|---|---|
| Relaxo Footwear | 944.00 | 944.10 925.05 | -0.01% |
| Britannia | 4,518.00 | 4,519.00 4,462.80 | -0.02% |
| Dabur India | 565.25 | 565.60 559.00 | -0.06% |
| UltraTechCement | 8,201.90 | 8,206.50 8,165.00 | -0.06% |
| Dixon Technolog | 4,757.50 | 4,761.25 4,636.00 | -0.08% |
| Bharti Airtel | 861.05 | 861.75 853.00 | -0.08% |
| Ramco Cements | 839.25 | 839.90 830.05 | -0.08% |
| Star Health | 625.00 | 625.50 612.45 | -0.08% |
| Sundram | 1,237.00 | 1,237.95 1,220.60 | -0.08% |
| Ratnamani Metal | 2,616.00 | 2,618.70 2,563.75 | -0.1% |
Stock Market LIVE Updates | Tata Steel shareholders meeting to be held on September 18 for TRF merger approval
Tata Steel will hold a meeting of its equity shareholders on September 18. They will consider the TRF merger with Tata Steel, and if thought fit, with or without modification(s), approve the Scheme of Amalgamation.
Stock Market LIVE Updates | Route Mobile signs an exclusive partnership with Vodafone Idea
Route Mobile (UK), wholly owned subsidiary of Route Mobile, has signed a binding term sheet with Vodafone Idea Limited for VIL’s International A2P SMS traffic.
Stock Market LIVE Updates | NTPC trades down after shifting coal mining business to subsidiary
Shares of NTPC were trading lower by around one percent, a day after it was announced that the transfer of six coal mines to its subsidiary NTPC Mining had been completed.
The state-owned, National Thermal Power Corporation (NTPC) executed a business transfer agreement (BTA) with its subsidiary NTPC Mining for hiving-off coal mining business
On July 29, NTPC received board approval for hiving off its coal mining business, consisting of six coal mines, to NTPC Mining through BTA. Read More
