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 Sensex slips over 150 points

Sensex slips over 150 points

The INDIA VIX is up 3.70% at 16.8875. Some buying activity is seen in metal, realty, pharma, industrial and basic materials sectors, while telecom, auto, capital goods, oil and gas, banking, IT, industrial, FMCG and IT sectors are showing weakness on BSE.

 

the S&P BSE Sensex is trading at 25,574 down 130 points, while NSE Nifty is trading at 7,830 down 40 points.


The BSE Mid-cap Index is trading down 0.32% at 11,166, whereas BSE Small-cap Index is trading down 0.01% at 11,168.

Lupin, Tata Motors, BHEL, Tata Steel, Wipro, Hero MotoCorp and ICICI Bank are among the gainers, whereas ITC, SBI, ONGC, HDFC, Axis Bank and GAIL are losing sheen on BSE.

Some buying activity is seen in metal, realty, pharma, industrial and basic materials sectors, while telecom, auto, capital goods, oil and gas, banking, IT, industrial, FMCG and IT sectors are showing weakness on BSE.

The INDIA VIX is up 3.70% at 16.8875. Out of 1,811 stocks traded on the NSE, 828 declined, 663 advanced and 320 remained unchanged today.

A total of 37 stocks registered a fresh 52-week high in trades today, while 21 stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 18 paise at 67.15/$ against US Dollar on Thursday as against the previous close of 66.97/$. The rupee breaches to 67-mark. The rupee fell against US Dollar on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.

Tata Power trading flat at Rs.70.05. The company has announced that the company's subsidiary, TPREL has won two solar grid connecttion photovoltaic projects of 50 MW capacity in Karnataka.

Sun TV Network slumped 11% to Rs.379.75 on Tamil Nadu assembly election trends,
Tamil Nadu assembly elections showed the ruling AIADMK leading in 92 seats against DMK 52. The Chennai-based company is owned by Kalanithi Maran, the grandnephew of DMK President M Karunanidhi.

JK Lakshmi Cement rallied 6% to Rs. 363.70. The company posted a net profit of Rs.483.80 mn for the quarter ended March 31, 2016 compared with Rs.60.50 mn for the quarter ended March 31, 2015.

Corporation Bank Ltd stock was lower by 4% at Rs.36. The company has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 as compared to net profit of Rs. 45.1 crore for the quarter ended March 31, 2015.

Torrent Power cracked 9.4% to Rs. 205.75. The company posted a net profit at Rs. 277.60 mn for the quarter ended March 31, 2016 compared with Rs. 1816.10 mn for the quarter ended March 31, 2015.

Piramal Enterprises climbed 4.7% to Rs. 1,470. Ajay Piramal is planning to bring all his finance entities under one roof,says report.Report says that a merger will create one of the biggest financial services companies in India.

Balkrishna Industries soared 4.3% to Rs.699 after the company posted a net profit of Rs. 1549.90 mn for the quarter ended March 31, 2016 where as the same was at Rs. 1543 mn for the quarter ended March 31, 2015.

Tata Motors jumped 1.6% to Rs.391.25. Life Insurance Corporation of India has increased its shareholding in Tata Motors from 4.91 per cent to 7.01 per cent through purchase of shares between January 8, 2013, and May 17, 2016.

Castrol India dropped 1.8% to Rs.378. BP, the promoter of the company, is looking to sell a stake worth up to $287 million in its Indian subsidiary though a block trade on Thursday, as per ET report. The promoter sold 11.8% equity in the company, as per TV report. Around 5.8 crore shares were traded in a multiple block at Rs.372.50.

Lupin gained 2% to Rs.1,663.45 on BSE. The pharma company will announce its Q4 number today. IIFL estimates the company’s net profit to propel to Rs.704 crore, at a rate of 28.7% yoy and 32.8% qoq.

GATI zoomed 5.6% to Rs.124.10 on BSE. The company experienced a spurt in volumes by more than 2.71 times.

Indiabulls Real Estate zoomed 4% to Rs.96.45 on the back of a spurt in volumes. The company experienced a spurt in volumes by more than 99.90 times.

BHEL has commissioned another 250 MW thermal power plant in Maharashtra. The unit has been commissioned at Parli Thermal Power Station (TPS), located in Beed district in the Marathwada region of Maharashtra. The stock is currently trading at Rs. 121.25, up by Rs. 1.45 or 1.21% from its previous closing of Rs. 119.8 on the BSE.

Redington India gained 2% to Rs.112.45. The company has step down subsidiary Redington Gulf FZE has acquired 10% stake from the Linkplus shareholders for a consideration of $1.15 million. With this, Redington Gulf FZE's stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S. Turkey has increased to 80%.

The balance 20% share will be purchased on equitable basis during the calender year 2016 and the calender year 2017 at a price/earning (P/E) multiple of 5X. The company has received an approval of competition board of Turkey for the said acquisition.

State-owned power trading solutions company PTC India Ltd reported 29.6% decline in standalone net profit at Rs 39.69 crore for the quarter ended March 31, 2016. The stock  is currently trading at Rs. 67.6, up by Rs. 2.25 or 3.44% from its previous closing of Rs. 65.35 on the BSE.

JSW Steel, which expects global demand for steel to remain poor, said talks to buy Tata Steel's UK assets are exploratory and that the Sajjan Jindal-led company will remain cautious with its finances. JSW Steel's initial bid for Tata Steel's loss-making assets in UK spooked the markets last week. The stock is currently trading at Rs. 1332, up by Rs. 21.65 or 1.65% from its previous closing of Rs. 1310.35 on the BSE.

RattanIndia Power jumped 4.3% to Rs.9.75. The company has posted a net profit of Rs. 519.30 million for the quarter ended December 31, 2015 as compared to net loss of Rs. 665.10 million for the quarter ended December 31, 2014.

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