Market Live: Sensex consolidates after 9-day gains; hotels stocks extend rally. Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.
Market Live: Sensex consolidates after 9-day gains; hotels stocks extend rally
Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.
Market Update: The market continued to be in a tight range of 30 points on the Nifty after rallying for previous nine consecutive sessions, as investors look for corporate earnings to get further market direction.
Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.
Market Update: The market continued to be in a tight range of 30 points on the Nifty after rallying for previous nine consecutive sessions, as investors look for corporate earnings to get further market direction.
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The 30-share BSE Sensex was up 26.55 points at 34,421.61 and the 50-share NSE Nifty rose 8 points to 10,556.70.
Hotels stocks extended previous day's rally. Taj GVK, Lemon Tree Hotels, Royal Orchid, Oriental Hotels, Indian Hotels Company etc gained up to 17 percent.
Results Date: Bajaj Holdings & Investment said the board of directors of the company will meet on May 18 to consider the audited financial results for the year ended March 31, 2018 and recommendation of dividend on equity shares, if any, for the said year.
Resolution Plan for Electrosteel Steels: Electrosteel Steels said the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Vedanta to acquire the company pursuant to Corporate Insolvency Resolution Process implemented as per provisions of Insolvency and Bankruptcy Code.
As per the resolution plan, a wholly-owned subsidiary of Vendata, will subscribe for the share capital of the company for an aggregate amount of Rs 1,805 crore and provide additional funds aggregating of Rs 3,515 crore by way of debt.
Upon implementation of the resolution plan, Vedanta will hold approximately 90 percent of the paid up share capital of the company. The remaining 10 percent of the company's share capital will be held by the company's existing shareholders and the financial creditors who receive shares in exchange for the debt owed to them.
The funds received by the company as debt and equity will be used to fully settle the debts owed to the existing financial creditors of the company, by payment of Rs 5,320 crore.
Is Gold really a safe bet?: Ashwani Kumar Harit, Commodity Research Analyst at Share India said in global turmoil situation especially when geopolitical tension is going on, gold becomes hot destination for investment than the equity market because investors pull out their money from the stock market due to negative flows and rush to pour their money into the yellow metal that can sustain in such negative situations.
Whenever such situations arise, bullion becomes the safe haven investments due to its negative correlation with the equity markets and as a hedge against inflation.
Presently gold have already been benefitted from the US-China trade war and along with that prices are also getting support to push on the higher side from the ongoing escalation of tension between US-Syria.
Rupee Trade: The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar at the interbank forex market today on fresh demand for the greenback from importers and banks.
It recovered a bit to trade 7 paise down at 65.71 against the US dollar now.
Dealers attributed the rupee's persistent fall to increased demand for the US currency from importers and foreign fund outflows.
Yesterday, the rupee had lost 15 paise to end at a near 7-month low of 65.64 against the US dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions.
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Results Date: Bajaj Holdings & Investment said the board of directors of the company will meet on May 18 to consider the audited financial results for the year ended March 31, 2018 and recommendation of dividend on equity shares, if any, for the said year.
Resolution Plan for Electrosteel Steels: Electrosteel Steels said the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Vedanta to acquire the company pursuant to Corporate Insolvency Resolution Process implemented as per provisions of Insolvency and Bankruptcy Code.
As per the resolution plan, a wholly-owned subsidiary of Vendata, will subscribe for the share capital of the company for an aggregate amount of Rs 1,805 crore and provide additional funds aggregating of Rs 3,515 crore by way of debt.
Upon implementation of the resolution plan, Vedanta will hold approximately 90 percent of the paid up share capital of the company. The remaining 10 percent of the company's share capital will be held by the company's existing shareholders and the financial creditors who receive shares in exchange for the debt owed to them.
The funds received by the company as debt and equity will be used to fully settle the debts owed to the existing financial creditors of the company, by payment of Rs 5,320 crore.
Is Gold really a safe bet?: Ashwani Kumar Harit, Commodity Research Analyst at Share India said in global turmoil situation especially when geopolitical tension is going on, gold becomes hot destination for investment than the equity market because investors pull out their money from the stock market due to negative flows and rush to pour their money into the yellow metal that can sustain in such negative situations.
Whenever such situations arise, bullion becomes the safe haven investments due to its negative correlation with the equity markets and as a hedge against inflation.
Presently gold have already been benefitted from the US-China trade war and along with that prices are also getting support to push on the higher side from the ongoing escalation of tension between US-Syria.
Rupee Trade: The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar at the interbank forex market today on fresh demand for the greenback from importers and banks.
It recovered a bit to trade 7 paise down at 65.71 against the US dollar now.
Dealers attributed the rupee's persistent fall to increased demand for the US currency from importers and foreign fund outflows.
Yesterday, the rupee had lost 15 paise to end at a near 7-month low of 65.64 against the US dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions.
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Concerns over oil prices, a global trade war threat, and the widening current account deficit have also weighed on the domestic unit.
Earnings Date: Bajaj Auto informed exchanges that the board of directors will meet on May 18 to consider the audited financial results for the year ended 31 March 2018 and recommendation of dividend on equity shares, if any, for the said year.
Earnings Date: Bajaj Auto informed exchanges that the board of directors will meet on May 18 to consider the audited financial results for the year ended 31 March 2018 and recommendation of dividend on equity shares, if any, for the said year.
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