Friday, 29 September 2017

Indian Energy Exchange IPO To Raise Up To $152.9 Million

Indian Energy Exchange Ltd has set a price range of 1,645-1,650 rupees per share for its initial public offering that opens on Oct. 9, to raise up to 10.01 billion rupees, according to a public notice on Friday.

Shareholders of the electricity exchange are selling a little over 6 million shares, or 20 percent of the post-issue paid-up capital, in the IPO that closes for subscription on Oct. 11.

Axis Capital, Kotak Mahindra Capital and IIFL Holdings are managing the sale.

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GAIL Surges 8% On Proposal Of Unified Tariff For All Pipelines

GAIL India stock rallied 8 percent intraday on Friday after the Petroleum and Natural Gas Regulatory Board put up a consultation document on unified pipeline tariff proposing a 60 percent hike in tariff by the company.

"We have proposed PNGRB for unified tariff for all pipelines. This is a positive development for equitable growth," Gajendra Sing, Director Marketing of GAIL said in an interview to CNBC-TV18.

He further said the company was looking at reasonable returns on pipeline and make further investments in the pipelines but he did expect tariffs to be very high.

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Thursday, 28 September 2017

Indian Rupee Hits Six And A Half Month Low; Down 16 Paise

The Indian rupee has slipped further and touched a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.

The US Fed's policy decision and commentary led to foreign investors heading to the exit door in local currency market.

Today, rupee opened lower by 11 paise at 65.82 per dollar against previous close 65.71.

The dollar rose to a more than one-month high against a basket of currencies, as optimism about US fiscal reforms boosted sentiment in favour of the greenback.

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Benchmarks Indices Rebounded Amid Volatility Ahead Of Expiry Of September

Benchmarks indices rebounded amid volatility ahead of expiry of September futures & options contracts.

The 30-share BSE Sensex was up 68.22 points at 31,228.03 and the 50-share NSE Nifty rose 6.85 points to 9,742.60.

The market breadth turned strong as about two shares advanced for every share falling on the BSE.

The rupee also recovered from its day's low, trading at 65.72 against the US dollar, compared with previous day's closing of 65.71.

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Wednesday, 27 September 2017

Sensex, Nifty Erase Opening Gains; ICICI Lombard Falls 3% On Debut

Equity benchmarks erased opening gains amid consolidation. The Sensex was down 33.93 points at 31,565.83 and the Nifty fell 15.25 points to 9,856.25.

About two shares advanced for every falling on the BSE.

The Federal Reserve needs to continue gradual rate hikes despite broad uncertainty about the path of inflation, Fed Chair Janet Yellen said on Tuesday in remarks that acknowledged the central bank's struggles to forecast one of its key policy objectives.

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Nifty Rollovers Were At 31.13 Percent On Tuesday

Nifty rollovers were at 31.13 percent on Tuesday, lower than 3-month average of 37.67 percent, ICICIdirect said.

The market wide rollover was at 37.65 percent versus 3-month average of 35.5 percent.

Highest rollover was observed in Dewan Housing Finance, Dabur, Glenmark Pharma, Biocon and Muthoot Finance.

With just two days to settlement, rollover activity was significantly low in stocks like OFSS, Divis Lab, Colgate, NIIT Tech and Repco Home Finance.

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Tuesday, 26 September 2017

Buy Just Dial, PFC, Shipping Corp, Petronet LNG; Sell Bata, Bharti Airtel

Remember these are midcap ideas not just for the day, but stocks that look attractive in the medium-term as well.

This week, Shahina Mukadum, Vijay Chopra and Sameet Chavan battle it out for top honours.

LIC, the country's largest and the only state-owned life insurer, bought nearly 4.52 percent shares in Dena Bank in a period between May 23 to September 18, the bank said in a regulatory filing.

The equity sale to LIC was done through a preferential allotment of shares. Prior to this additional stake purchase, LIC held over 9.73 percent stake in Dena Bank.

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The BSE Midcap And Smallcap Indices Gained 0.2-0.4 Percent

The 30-share BSE Sensex was down 19.09 points at 31,607.54 and the 50-share NSE Nifty declined 5.70 points to 9,866.90.

The BSE Midcap and Smallcap indices gained 0.2-0.4 percent as about two shares advanced for every share falling on the exchange.

Experts expect the volatility to continue ahead of expiry of September futures & options contracts on Thursday.

"Volatility will remain high due to the upcoming derivatives expiry and erratic swings on global front. Thus traders should limit their positions and wait for some stability," Jayant Manglik, President, Retail Distribution, Religare Securities said.

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Monday, 25 September 2017

Sensex Falls 300 Pts, Nifty Breaks 9900; Capacit'e Debuts At Rs 399

Shares of Cadila Healthcare fell over 3.5 percent intraday as investors turned wary of the stock following a ratings downgrade. A weakness in the overall pharmaceutical space also spilled over to the stock.

Broking firm IIFL downgraded its rating on the stock to reduce from add along with a reduction in the target price to Rs 400 from Rs 460, implying a downside of around 13 percent.

The firm said that Cadila’s stock was already pricing in an upside from big launches. However, its valuations were stretched and at a significant premium compared to its large peers.

The brokerage house also cut FY18/19 EPS estimates by 11%/14% to factor in the Lialda AG launch by the innovator.

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The Broader Markets Also Fell Further As The BSE Midcap

Equity benchmarks extended losses in early trade as the 30-share BSE Sensex was down 197.75 points at 31,724.69,

The 50-share NSE Nifty breached psychological 9,900 level, down 70.25 points at 9,894.15.

The broader markets also fell further as the BSE Midcap and Smallcap indices were down nearly 2 percent each. About four shares declined for every share rising on the BSE.

Reliance Industries, HDFC Bank, IOC, Adani Ports, L&T, HDFC, Kotak Mahindra Bank, Axis Bank and Yes Bank were top negative contributors to Sensex' fall, down 0.7-3 percent.

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Friday, 22 September 2017

Reliance Home Finance Locked At 5% Upper Circuit

The stock traded with volumes of 6.24 lakh shares on the National Stock Exchange.

The company was hived off from the umbrella of Reliance Capital with September 6 as record date. As part of the process, investors must have received one share of Reliance Home Finance for every share of Reliance Capital held.

The move is expected to unlock value for the existing shareholders of the firm, Reliance Capital said in a statement.

After the demerger, Reliance Capital will continue to hold a 51 percent stake in Reliance Home Finance.

The transfer was earlier approved by an overwhelming majority of 99.59 per cent votes in favour of the scheme of arrangement at the Tribunal-convened general shareholders meeting held in July.

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The Reliance Home Finance Scrip Made A Stellar Debut In Trade Today

The Reliance Home Finance scrip made a stellar debut in trade today.

"The company is looking to grow is loan book at 50 percent CAGR over the next three-to-four years," Ravindra Sudhalkar, CEO, Reliance Home Finance said in an interview to CNBC-TV18.

He further said it is looking to maintain its net interest margin at 3.5 percent and grow its housing finance business to 60 percent by FY20.

The housing finance company is targeting return of assets of 1.5 percent by FY20, he added.

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Thursday, 21 September 2017

Equity Benchmarks Slipped Into Red In Morning Trade As The Sensex

Equity benchmarks slipped into red in morning trade as the Sensex fell 173.37 points to 32,227.14 and the Nifty dropped 58.50 points to 10,082.65.

The market breadth was weak as about two shares declined for every share rising on the BSE.

The drug firm informed exchanges that it has received an establishment inspection report from the US FDA, for Formulation Srikakulam Plant Unit II, Andhra Pradesh.

The audit of this facility by the US Food and Drug Administration had completed with zero observations on May 25.

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Stocks In The News: RIL, SBI, ITC, Rel Cap, SMS Pharma, Om Metal

CSL Finance
-Aadi Financials Advisors have been allotted 3.8 lakh shares via preferential allotment
-Akash Bhansali is one of the directors

NBCC
-Gets letter of intent for Rs 3,200 crore project in Mumbai from Finance Ministry
-To develop a residential-cum-office complex in Mumbai

Granules
-To raise up to USD 39 million with upside option up to USD 54.5 million via QIP
-Granules sets floor price at Rs 121.25 per share

Reliance Industries: Reuters
-Reliance plans to expand capacity at Jamnagar oil refiner complex by 40 percent
-Reliance Industries plans to expand Jamnagar capacity to 2 mbpd by 2030

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Wednesday, 20 September 2017

Nifty Midcap Was Up 0.4 Percent, Outperforming Benchmarks

Tata Motors, ICICI Bank, BPCL, Cipla, Coal India, Ambuja Cements, NTPC and Wipro were also under pressure in early trade.

Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.

Nifty Midcap was up 0.4 percent, outperforming benchmarks.

JK Tyre, Apollo Tyres, Ceat, Divis Labs, Kamat Hotels, Adani Transmission, Bombay Dyeing, HEG, Graphite India, Goa Carbon, Rain Industries, Shreyas Shipping and Cadila Healthcare gained up to 10 pecent.

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Equity Benchmarks Opened Mildly Higher On Wednesday

Equity benchmarks opened mildly higher on Wednesday, led by support from index heavyweight Reliance Industries.

The 30-share BSE Sensex was up 63.74 points at 32,466.11 and the 50-share NSE Nifty gained 11.90 points at 10,159.45.

Telecom stocks - Bharti Airtel, Idea Cellular and Reliance Communications fell 3-6 percent after telecom regulator TRAI slashed mobile call connection charge to 6 paise per minute from 14 paise currently, effective October 1.

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Friday, 15 September 2017

Ujaas Energy Rises 10% On Orders Win From Oil India

Share price of Ujaas Energy advanced 10 percent intraday Friday on the back orders win.

The company has received letter of award of contract from WBREDA for installation and commissioning of 150 rooftop grid connected solar PV power plants each in array capacity of 10Kwp at various locations of West Bengal.

The company also received letter of award from Oil India for EPC contract for solar energy generation project of 500 KW at pump station of Oil India at Jorhat in the state of Assam.

It has received letter of allocation from SECI for an aggregate capacity of 20.03 MW for implementation of grid connected rooftop solar PV system scheme for government building in different states/union territory of India.

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Equity Benchmarks As Well As Broader Markets Continued To Fall In Morning

Equity benchmarks as well as broader markets continued to fall in morning as fresh missile launch by North Korea weighed.

The 30-share BSE Sensex was down 45.66 points at 32196.27 and the 50-share NSE Nifty fell 24 points to 10,062.60.

The BSE Midcap and Smallcap indices underperformed benchmarks, falling over half a percent on weak breadth. About two shares declined for every share rising on the BSE.

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Thursday, 14 September 2017

Bharti Airtel Rebounded With 0.6 Percent Gains Today

Bharti Airtel rebounded with 0.6 percent gains today after falling a percent in previous session.

On Wednesday, the telecom operator announced strategic partnership with South Korean telecom operator SK Telecom, known for using latest technologies, to build the most advanced telecom network in India.

The two companies will also collaborate on an on-going basis to evolve standards for 5G and advanced technologies like network functions virtualisation, software-defined networking and Internet of Things, Bharti Airtel said in a statement.

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Equity Benchmarks Opened Higher Amid Consolidation Thursday

Equity benchmarks opened higher amid consolidation Thursday, with the Nifty reclaiming 10,100 level despite weakness in Asian peers.

The 30-share BSE Sensex was up 81.95 points at 32,268.36 and the 50-share NSE Nifty gained 23.70 points at 10,103.

Sun Pharma rallied nearly 4 percent, followed by Dr Reddy's Labs, Lupin, Reliance Industries, Tata Motors, GAIL and Aurobindo Pharm.

Wipro plunged 3.5 percent. Kotak Mahindra Bank, HDFC Bank, HDFC, TCS, HUL, Tech Mahindra and Power Grid were also under pressure.

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Wednesday, 13 September 2017

The Indian Rupee Opened Higher By 6 Paise At 63.98 Per Dollar On Wednesday

The Indian rupee opened higher by 6 paise at 63.98 per dollar on Wednesday against the level of 64.04 on Tuesday.

Pramit Brahmbhatt of Veracity said, "Easing of North Korea problem helped dollar find support at 63.80 mark. As far as it trades above 63.80, bias will remain positive towards dollar." "Trading range for the spot USD-INR pair will be 63.80-64.20," he added.

The dollar extended its sharp rally against the yen, although it was capped against the euro with a potentially supportive spike in US yields neutralized by a similar move by their German counterparts.

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Nifty On Course To Hit 10,500 In Couple Of Months, If It Holds Above 10K

Like most global equity markets, Indian markets too have had a great run over, hitting new highs or testing previous highs on the expectation of smart global recovery as well as unprecedented inflows into equity mutual funds.

While everyone agrees India is a great story for the medium to long term and the view has not changed in the medium term regarding growth or political stability, but the disappointment in earnings and a possible disappointment in gross domestic product makes a lot of people nervous.

Higher investment flows both from domestic and foreign investors should provide downside support to the markets.

Valuations too are at peak levels. Our discussions with investors these days are more towards worries about rich valuations, although in many discussions recently, the valuation debate has been ignored altogether.

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Tuesday, 12 September 2017

The IPO, With An Aim To Raise Over Rs 500 Crore

The initial public offer of Matrimony.com, which runs online match-making portals, was subscribed 67 percent on the first day of bidding on Monday.

The IPO, with an aim to raise over Rs 500 crore, received bids for 18,78,510 shares against the total issue size of 28,11,280 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers was subscribed 83 per cent and retail investors 1.19 times.

The company had on Friday raised nearly Rs 226 crore from anchor investors.

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The RBI Is Thus Forced To Continue Absorbing Liquidity

The RBI is thus forced to continue absorbing liquidity, he said.

He feels cost of capital should hence remain low, manifested in low interest rates and high P/E for equities.

Mishra said non-banking finance companies growth should continue, net interest margin though may compress. LIC Housing Finance and Indiabulls Housing Finance should benefit, he added.

Bharti Infratel, Coal India and ONGC were under pressure on profit booking.

Tata Coffee and Liberty Shoes rallied 12-16 percent post bulk deals.

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Monday, 11 September 2017

Equity Benchmarks Continued To Trade Strong In Morning

Equity benchmarks continued to trade strong in morning, tracking positive Asian cues.

The 30-share BSE Sensex was up 177.41 points at 31,864.93 and the 50-share NSE Nifty rose 52.60 points to 9,987.40.

The broader markets outperformed benchmarks as the BSE Midcap and Smallcap indices gained 0.7 percent each on strong breadth. About two shares advanced for every share falling on the BSE.

Larsen & Toubro was biggest gainer again, up 3 percent on top of 4 percent upside in previous session.

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Global Cues Lift Sensex Over 150 Pts, Midcap Outperforms; L&T Rallies

Shares of IndusInd Bank and Bharat Financial Inclusion rose 1-2 percent in early trade as investors reacted to developments around a possible deal between the two entities.

Early on Monday, the private sector lender informed exchanges that it had entered into an ‘exclusivity agreement’ with the micro lender in a bid to explore a merger or expansion plans.

The transaction between the two companies would be subject to due diligence, agreement on the appropriate on the appropriate transaction structure, definitive documentation and Board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, the release said.

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Friday, 8 September 2017

The Broader Markets Continued Northward Journey As The BSE Midcap

The 30-share BSE Sensex was up 61.60 points at 31,724.34 and the 50-share NSE Nifty rose 24.05 points to 9,953.95.

The broader markets continued northward journey as the BSE Midcap and Smallcap indices gained around 0.5 percent on positive breadth.

About two shares advanced for every share falling on the BSE.

Metals stocks extended rally as the Nifty Metal was up 1.4 percent. Hindalco Industries, Vedanta and Tata Steel gained 1.6 percent each.

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The Indian Rupee Appreciated Sharply In Morning Trade On Dollar Weakness.

The Indian rupee appreciated sharply in morning trade on dollar weakness.

It was trading at 63.87 against the US dollar, up 17 paise from Thursday's closing of 64.05.

Bhaskar Panda of HDFC Bank said the dollar weakness continued due to various risks..

ICICI Lombard General Insurance Company set Rs 651-661 as the price band for its initial public offering, which will make it a Rs 5,700-crore issue.

"The price band has been set at Rs 651-661. At the upper end of the band, it will raise Rs 5,700 crore," a source said late in the evening.

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Thursday, 7 September 2017

The Indian Rupee Traded Higher By 6 Paise At 64.04 Per Dollar Versus Previous

The Indian rupee traded higher by 6 paise at 64.04 per dollar versus previous close of 64.10.

Mohan Shenoi of Kotak Mahindra Bank said the rupee has been trading in a very tight range for the past few weeks which is likely to continue.

USD-INR trading range for the day is 63.90-64.20, according to him.

The dollar lost some ground after edging up against the Japanese yen after getting a boost from trump's surprise deal with the democrats on extending the debt limit.

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Indiabulls Housing Finance Surged 2.5 Percent Again As CLSA Raised Target Price

Indiabulls Housing Finance surged 2.5 percent again as CLSA raised target price

Eicher Motors, Aurobindo Pharma, Asian Paints, Adani Ports and Dr Reddy's Labs gained 1 percent each.

Bharat Forge gained 3.4 percent as total class 8 truck orders in the North America rose 50 percent YoY.

Fortis Healthcare, Motherson Sumi, Shriram Transport, NBCC, Muthoot Finance, India Cements, GMR Infrastructure, CESC, HPCL, IOC and Petronet LNG gained up to 5 percent.

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Wednesday, 6 September 2017

Global Uncertainty To Keep Markets Choppy; 4 Stocks Which Can Give Up To 12% Return

Last week Nifty consolidated in a broad range of 200 points. Due to consolidation, daily chart formed a Symmetrical triangle pattern and index confirmed its breakout from said Triangle pattern in Friday’s session.

However, due to geopolitical tension, Nifty nosedived sharply on Monday and entered inside the triangle pattern. The said development has diminished the bullish sentiment.

Going forward, Nifty has an immediate support near 9,850 below which strong support comes near 9,780. Any sustained move below 9,780 will certainly allow bears to take charge of the index and we may see index to retest the daily swing low of 9,685.

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Market Focus Was Also Being Drawn To Hurricane Irma, A Record Category 5 Storm

Oil prices dipped as crude demand remained subdued on the back of refinery closures following Hurricane Harvey which hit the US Gulf coast 10 days ago.

Market focus was also being drawn to Hurricane Irma, a record Category 5 storm, which is barrelling towards important shipping lanes in the Caribbean.

Although many refineries and pipelines which were knocked out by Harvey are now in the process of restarting, analysts say it will take some time before the US petroleum industry is back to full crude processing capacity.

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Tuesday, 5 September 2017

The Rupee Dropped By 9 Paise To 64.14 Against The Dollar

The rupee dropped by 9 paise to 64.14 against the dollar at the interbank forex market today amid sustained foreign fund outflows.

The rupee opened at 64.10 per dollar against last close of 64.05 per dollar. It moved in a range of 64.08 per dollar and 64.18 per dollar in morning deals.

Traders said fresh demand for the US currency from importers and dollar's recovery against some currencies overseas weighed on the rupee.

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Equity Benchmarks Rebounded With Moderate Gains Amid Volatility

Equity benchmarks rebounded with moderate gains amid volatility on Tuesday as investors remained cautious due to geopolitical tensions surrounding around North Korea.

The 30-share BSE Sensex was up 73.36 points at 31,775.61 and the 50-share NSE Nifty gained 20.65 points at 9,933.50.

Tech Mahindra, Tata Motors and HDFC Bank were early gainers while TCS, HCL Technologies, Bharti Airtel, ITC and HDFC were under pressure.

Nifty Midcap gained half a percent as about five shares advanced for every share falling on the NSE.

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Monday, 4 September 2017

Nifty Likely To Head Towards 10,100; 4 Stocks Which Can Give Up To 10% Return

The Nifty50 continued to trade sideways on the backdrop of geopolitical issue coupled with F&O expiry last week. The Nifty saw a major setback in Tuesday’s trade, where index shredded about 100 points following a major drop in volume.

However, it decisively rebounded back from its negative trajectory towards the weekend trading session, where Nifty closed above its psychological barrier seen at 9,950 level.

The major breakthrough for bullish sentiment prevailed as the index managed to trade above its 20-Days EMA on closing basis, indicating a bullish trend going forward.

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Sensex Falls Over 100 Pts, Nifty Breaks 9950; Coal India Gains 3%

Industrialist Naveen Jindal and others were today granted bail by a special court in a case related to the allocation of a coal block in Madhya Pradesh.

Special Judge Bharat Parashar granted the relief to them on a personal bond of Rs one lakh each and one surety of like amount.

The court has now posted the matter for further hearing on October 31.

Besides Jindal, others who got the relief include Jindal Steel and Power Ltd's former Director Sushil Maroo, former Deputy MD Anand Goyal and CEO Vikrant Gujral.

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Friday, 1 September 2017

Stocks In The News: Bharti, Strides, IRB Infra, Welspun Ent, Genus Power, Rane Holdings

-Aditya Birla Capital listing today

-Indian Overseas Bank says capital infusion of Rs 1,100 crore by GOI

-Shankara Building Products starts new processing facility and relocates one of its existing facility

-CCL Products gets approval for setting up of freeze dried instant coffee manufacturing unit at Chittoor District, Andhra Pradesh

-IRB Infrastructure board has approved the proposed sale of IRB Pathankot Amritsar Toll Road to the IRB InvIT Fund, at an enterprise value of Rs 1,569 crore

-Bharat Financial completes a securitisation transaction of Rs 243.77 crore

-Hatsun Agro obtains shareholder approval to raise funds upto Rs 500 crore via QIP

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Aditya Birla Capital Shares Locked At 5% Lower Circuit At Open

Aditya Birla Capital shares were locked at 5 percent lower circuit in opening trade Friday. The stock has opened at Rs 237.50 on the National Stock Exchange, compared with pre-opening price of Rs 250.

The stock traded with volumes of 36.55 lakh shares on the NSE, at 10:14 hours IST.

Aditya Birla Capital is the demerged company from Grasim which holds controlling stake in financial services businesses of the group. The demerger and listing of financial services business under one umbrella was part of the group restructuring exercise and was aimed at unlocking value for shareholders.

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