Market Live: Sensex, Nifty consolidate amid global weakness; Bharti Airtel jumps 2%. Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
Rupee Update: The rupee depreciated 28 paise to 66.66 against the US dollar the interbank foreign exchange due to appreciation of the greenback amid rising US bond yields and surge in global crude oil prices.
Also, a lower opening in the domestic equity market too weighed on the investor sentiment.
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Dealers also attributed the rupee's fall to increased demand for the US currency from importers due to month-end demand and sustained foreign capital outflows.
The rupee yesterday recovered by 10 paise to 66.38 against the US dollar due to fresh selling of the American currency by exporters and banks.
The market is seeing consolidation amid global weakness, with the benchmark indices trading marginally lower.
Investors await more corporate earnings that scheduled to be announced over next one month and Karnataka elections due next month.
Bharti Airtel is up more than 2 percent after reporting profit in the March quarter against expectations of loss.
The 30-share BSE Sensex was down 25.28 points to 34,591.36 and the 50-share NSE Nifty declined 12.40 points to 10,602.
Raymond share price rallied 3 percent after reporting 61.7 percent YoY growth in net profit at Rs 54.5 crore and 10.6 percent growth in revenue at Rs 1,629.8 crore for the quarter ended March 2018.
Operating profit increased 33.5 percent to Rs 150.6 cror and margin expanded by 160 basis points to 9.2 percent YoY.
Fortis Healthcare gained a percent after KKR-backed Radiant Life Care made a revised bid for the company with a binding offer to acquire its Mulund hospital for an enterprise value of Rs 1,200 crore.
This is the second revised offer received by Fortis after Malaysian major IHH Healthcare made a binding offer to infuse Rs 650 crore immediately in the Indian firm as part of an overall proposal to invest Rs 4,000 crore.
The company has received a binding offer from Radiant Life Care, FHL said in a regulatory filing.
Bharti Airtel share price gained more than 3 percent after reporting profit against expectations of loss in the quarter ended March 2018.
Net profit fell 72.8 percent sequentially to Rs 83 crore and revenue declined 3.4 percent to Rs 19,634 crore in Q4FY18 while operating income slipped 7.3 percent to Rs 7,034 crore and margin contracted 150 basis points to 35.8 percent QoQ.
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The market is seeing consolidation amid global weakness, with the benchmark indices trading marginally lower.
Investors await more corporate earnings that scheduled to be announced over next one month and Karnataka elections due next month.
Bharti Airtel is up more than 2 percent after reporting profit in the March quarter against expectations of loss.
The 30-share BSE Sensex was down 25.28 points to 34,591.36 and the 50-share NSE Nifty declined 12.40 points to 10,602.
Raymond share price rallied 3 percent after reporting 61.7 percent YoY growth in net profit at Rs 54.5 crore and 10.6 percent growth in revenue at Rs 1,629.8 crore for the quarter ended March 2018.
Operating profit increased 33.5 percent to Rs 150.6 cror and margin expanded by 160 basis points to 9.2 percent YoY.
Fortis Healthcare gained a percent after KKR-backed Radiant Life Care made a revised bid for the company with a binding offer to acquire its Mulund hospital for an enterprise value of Rs 1,200 crore.
This is the second revised offer received by Fortis after Malaysian major IHH Healthcare made a binding offer to infuse Rs 650 crore immediately in the Indian firm as part of an overall proposal to invest Rs 4,000 crore.
The company has received a binding offer from Radiant Life Care, FHL said in a regulatory filing.
Bharti Airtel share price gained more than 3 percent after reporting profit against expectations of loss in the quarter ended March 2018.
Net profit fell 72.8 percent sequentially to Rs 83 crore and revenue declined 3.4 percent to Rs 19,634 crore in Q4FY18 while operating income slipped 7.3 percent to Rs 7,034 crore and margin contracted 150 basis points to 35.8 percent QoQ.
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Benchmark indices opened lower, tracking negative trend in global stocks.
The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.
Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
Hindalco, Cipla and HCL Technologies were under pressure.
ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent.
Uniply Industries gained 2 percent after block deal of 10 lakh shares.
Balrampur Chini and Reliance Naval were under pressure.
The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.
Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
Hindalco, Cipla and HCL Technologies were under pressure.
ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent.
Uniply Industries gained 2 percent after block deal of 10 lakh shares.
Balrampur Chini and Reliance Naval were under pressure.
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