Market Live: Sensex consolidates; April sales lifts auto stocks, HCL Tech top loser. Benchmark indices were strong in pre-opening trade despite weakness in Asian stocks.
Market Update: The market is trading mildly higher amid consolidation and weakness in Asian stocks. Auto, infra, select banks stocks and Reliance Industries supported the market while technology stocks were under pressure after HCL Tech earnings.
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HCL Technologies is the biggest loser with more than 3 percent loss after Q4 earnings slightly missed analyst expectations while Auto index was up 1 percent after strong April sales.
InterGlobe Aviation and Jet Airways were under pressure after IOC hiked jet fuel prices.
The 30-share BSE Sensex was up 48.72 points at 35,209.08 and the 50-share NSE Nifty rose 6.60 points to 10,746.
Rim Sales: Steel Strips Wheels achieved total rim sales of 12.82 lakh in April 2018 against 11.50 lakh units in April 2017, representing a growth of 12 percent.
The growth in April was all round segments, the company said which expects this to continue going ahead with firm schedule indication 1O-11 percent volume growth.
The tractor and truck segments volume sales running at record high levels, it said which expects to maintain that going ahead.
In terms of value, the company has achieved a gross turnover of Rs 211.79 crore in April 2018 against Rs 115.73 crore in April 2017, thereby recording a growth of 83 percent.
Results Date: Akzo Nobel India informed exchange that a meeting of the board of directors of the company is scheduled to be held on May 10, 2018, to consider the audited financial results for the year ended March 31, 2018, and recommend Dividend for the said financial year, if any.
Fortis Deal: The Manipal-TPG alliance said it is "evaluating" its bid for Fortis Healthcare after IHH Healthcare and Munjal-Burmans raised their respective offers on Tuesday, the last day for submitting binding bids.
Manipal-TPG still have one more chance to get back into the bidding race as the agreement they signed with Fortis has a right-to-revise clause.
IHH raised its bid by 9.4 percent to Rs 175 per share, compared to its earlier quote of Rs 160 per share. The Munjal-Burmans raised their bid by 7.2 percent to Rs 172 per share, from Rs 160 earlier. Munjal-Burmans have offered to invest Rs 1800 crore directly without seeking due diligence.
KKR backed Radiant Life Care has put in its bid valuing Fortis at Rs 165 per share.
Market Check: Benchmark indices opened higher despite weakness in Asian stocks, backed by auto sales data.
The 30-share BSE Sensex was up 116.70 points at 35,277.06 and the 50-share NSE Nifty rose 30.50 points to 10,769.90.
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The 30-share BSE Sensex was up 48.72 points at 35,209.08 and the 50-share NSE Nifty rose 6.60 points to 10,746.
Rim Sales: Steel Strips Wheels achieved total rim sales of 12.82 lakh in April 2018 against 11.50 lakh units in April 2017, representing a growth of 12 percent.
The growth in April was all round segments, the company said which expects this to continue going ahead with firm schedule indication 1O-11 percent volume growth.
The tractor and truck segments volume sales running at record high levels, it said which expects to maintain that going ahead.
In terms of value, the company has achieved a gross turnover of Rs 211.79 crore in April 2018 against Rs 115.73 crore in April 2017, thereby recording a growth of 83 percent.
Results Date: Akzo Nobel India informed exchange that a meeting of the board of directors of the company is scheduled to be held on May 10, 2018, to consider the audited financial results for the year ended March 31, 2018, and recommend Dividend for the said financial year, if any.
Fortis Deal: The Manipal-TPG alliance said it is "evaluating" its bid for Fortis Healthcare after IHH Healthcare and Munjal-Burmans raised their respective offers on Tuesday, the last day for submitting binding bids.
Manipal-TPG still have one more chance to get back into the bidding race as the agreement they signed with Fortis has a right-to-revise clause.
IHH raised its bid by 9.4 percent to Rs 175 per share, compared to its earlier quote of Rs 160 per share. The Munjal-Burmans raised their bid by 7.2 percent to Rs 172 per share, from Rs 160 earlier. Munjal-Burmans have offered to invest Rs 1800 crore directly without seeking due diligence.
KKR backed Radiant Life Care has put in its bid valuing Fortis at Rs 165 per share.
Market Check: Benchmark indices opened higher despite weakness in Asian stocks, backed by auto sales data.
The 30-share BSE Sensex was up 116.70 points at 35,277.06 and the 50-share NSE Nifty rose 30.50 points to 10,769.90.
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Tata Motors, Bajaj Auto, Eicher Motors, M&M, Maruti Suzuki, Reliance Industries and L&T gained up to 3 percent.
Wipro, HUL, HCL Technologies and Hindustan Zinc lost up to
Nifty Midcap was up 12 points and Nifty Bank gained 80 points.
Fortis Healthcare, Container Corporation, Transformers & Rectifiers, Arvind Smart spaces, Munjal Showa, Ceat and Dabur India gained up to 8 percent while Lanco Infratech, HDIL and Jet Airways were under pressure.
Wipro, HUL, HCL Technologies and Hindustan Zinc lost up to
Nifty Midcap was up 12 points and Nifty Bank gained 80 points.
Fortis Healthcare, Container Corporation, Transformers & Rectifiers, Arvind Smart spaces, Munjal Showa, Ceat and Dabur India gained up to 8 percent while Lanco Infratech, HDIL and Jet Airways were under pressure.
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