Stocks to Watch: As per reports, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission & ACC
CLOSING BELL: Adani Enterprises, Adani Ports, Hero MotoCorp, Cipla, JSW Steel, Bharti Airtel, Sun Pharma, UPL, Ultratech Cement, HDFC, Bajaj Auto, and Tata Motors fell over half a per cent to 11%
Ebitda margin contracted by 530 bps year-on-year, and 320 bps quarter-on-quarter to 15.8 per cent, primarily due to lower absorption, advertising and manpower costs
Shares of SKM Egg Products Export India, Venky's India, Simran Farms and Ovlbel Foods were up in the range of 5 per cent to 10 per cent in Thursday's intra-day trading session
The overall sentiment towards the cement stocks has remained lacklustre amid a gradual decline in their share prices, and a reduction in GST could help to lift this sentiment.
The stock of Adani Wilmar has recovered 9 per cent from its intra-day low of Rs 405.10, lifted by heavy volume. In the past three days, it has bounced back 16 per cent
Trent said, the Star business with tight footprint stores and focus on fresh foods & own brands offering continue to witness improved customer traction with growing sales densities.
The company reported record quarterly revenue driven by strong domestic and export revenue coupled with prudent cost management resulting in record quarterly profit.
Adani Enterprises locked 10 per cent lower circuit, while Adani Ports, Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Ambuja Cements were down up to 6 per cent
Stocks to Watch: MSCI has started a free float review of Adani Group securities and it believes certain Investors should no longer be designated as free float
CLOSING BELL: Adani Enterprises surged 23 per cent, while Adani Ports zoomed 9 per cent, leading the winners' list on the Nifty50
Following the upgrade, shares of Paytm surged 18.5 per cent to an intra-day high Rs 698 per share on the BSE on Wednesday
In the past one year, these stocks have underperformed the market by falling between 31 per cent and 53 per cent, as against 5 per cent rise in the Sensex
The management said the significant boost in the number of visitors was due to the increase in domestic tourism, walk-in customers and the revival of student excursion trips
Shares of Adani Enterprises rallied 14 per cent to Rs 2,049.60 in Wednesday's intra-day trade, and have zoomed 102 per cent from its intra-day low of Rs 1,017.10 touched on Friday February 3.
Airtel continues to report a healthy performance on Indian wireless business front with resilient and industry leading KPIs in terms of India post-paid/4G subscribers, ARPUs and margins.
At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.
Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement.
As per the technical analyst, the Budget session high of 17,973 and low of 17,353 have become crucial levels to watch out for any directional move in the Nifty index
The company said the fall in operating margin was primarily on account of de-growth in pharma and API sector