The company is well-positioned in terms of the business model and balance sheet, but the ongoing turmoil, caused by coronavirus, has cast a dark shadow over the near-term prospects of the company.
Monnet lspat and Energy Limited has entered into a share purchase agreement (SPA) with M/s Champak Corporate Services Private Limited.
The breadth of the market favoured the declines as 621 stocks advanced and 1116 declined while 359 remained unchanged on the NSE. On the BSE, 909 stocks advanced, 1511 declined and 137 remained unchanged.
The top Nifty gainers included ONGC, Bharti Infratel, Bharti Airtel, Sun Pharma and GAIL India while the top losers included Eicher Motors, Hero Moto, Bajaj Auto, JSW Steel and Larsen & Toubro
At the current market price, the value of stock sold comes around Rs 59 crore. With this, promoters' stake has come down to 37.57 percent from 41.91 percent earlier.
The breadth of the market favoured the advances with 1363 stocks advancing and 341 declining while 365 remained unchanged. On the BSE, 1824 stocks advanced, 652 declined and 125 remained unchanged.
The breadth of the market favoured the declines with 618 stocks advancing and 934 declining while 494 remained unchanged. On the BSE, 628 stocks advanced, 922 declined and 72 remained unchanged.
CA Rudramurthy BV of Vachana Investments has a bullish stance on ADAG stocks including Reliance Infra and Reliance Communications and recommends selling Dabur India.
Sudarshan Sukhani, s2analytics.com advises traders and investors to exit from ADAG stocks.
There is a possibility of a diesel price hike and a petrol price cut coming through of at least Re 1. SP Tulsian, sptulsian.com says that reduction in petrol price is more a cost parity price. Since, it is a deregulated one, this will not have a positive or negative, but neutral effect on OMCs.
SP Tulsian, sptulsian.com advice traders to enter in JM Financial at current levels.
Sudarshan Sukhani of s2analytics.com believes the Nifty will reclaim the 5200 level today, but says it will be no-trade day because the market is unlikely to run up after a 90 point decline.
It was a topsy-turvy session as the Samajwadi Party swept the UP assembly with a thumping majority, says CNBC-TV18's managing editor Udayan Mukherjee.
Profit booking seen in ADAG stocks, says SP Tulsian, sptulsian.com.
The assembly election results in five states could be the key factor driving markets today. Monday saw markets fall over a percent on fears that a Congress loss in UP could upset the reforms process further.
In another range bound session, the Nifty continued to hold well above 5,400. Confidence returned as investors preferred their 'buy-the-dip' mode. Read on for more...
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com analyses select stocks such as Gati, Dishman Pharma, Apollo Tyres, Dhanlaxmi Bank, infrastructure stocks, gold companies Manappuram General Finance and Muthoot and ADAG stocks.
SP Tulsian, sptulsian.com in an interview to CNBC-TV18 shared his views on Kingfisher, BPCL, ADAG and sugar stocks.
Deven Choksey, MD of KR Choksey shares his view on ADAG stocks.
Sudarshan Sukhani, s2analytics.com advice investors to avoid ADAG stocks.
SP Tulsian of sptulsian.com comments on ADAG stocks. He doesn't see much strength in ADAG stocks.
Talking about the realty stock Ansal Housing, SP Tulsian of sptulsian.com said that the long-term looks positive for the stock. Moreover, he holds a positive view on PTC, PFC and REC with a long-term view.
It's a quiet day of trade. The Nifty is below 5300…pharma and financials drag, while ADAG stocks see buying interest.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shares his calls on the ADAG stocks that saw a bounce today and the fertiliser sector. He says as Reliance Industries is looking to use the infrastructure of Reliance Communication, it is probably the reason for the bounce in the stock.
SP Tulsian of sptulsian.com is negative on ADAG stocks.