The Indian equity market closed almost at the same point where it too off from in the morning. Negative vibes from the US and the Asian markets compelled stock market in India to open with a gap down. However, after slipping below the 7700 mark, the Nifty staged a smart bounce back. Nifty closed with a a loss of 2 points at 7,733 while Sensex ended with a loss of 34 points at 25,228.
ABG Shipyard tumbled 20% to Rs.30.65 on BSE. Reports stated that the promoters of the debt-laden ship-maker may have to give up control of the company after they failed to bring in an investor, yet again.
Diamond Power jumped 9.9% to Rs.44.85 after the company has announced that its board is likely to consider re-organization of business after consulting its investors. The company will authorize a committee to offer stake up to 51% to a strategic investor.
Exchanging Solutions hit 20% upper circuit to Rs.60.10 on the BSE after the company engaged in information technology (IT) services business announced voluntary deli-sting plan.
Hindustan Composites rallied 14.4% to Rs.1055 on BSE. the company reported 135% growth in Net Profit at Rs 18.9 crore for the Quarter Ended March 2016 compared with Rs 8 crore in the same quarter last fiscal.
Talwalkars Better Value surged 3.8% to Rs.202.10 after the company reported 13 per cent year-on-year rise in its Consolidated Net Profit at Rs 20.20 crore for the quarter ended March 2016.
Syndicate Bank climbed 3.6% to Rs.68 on BSE. The bank has allotted Rs.9.5 crore equity shares of face value of Rs.10/- each for cash at an issue price of Rs. 77.79 determined in accordance with Regulation 76 (1) of SEBI (ICDR) Regulations aggregating to Rs. 740 crore on preferential basis to Government of India.
Bank of India gained 1% to Rs.86.75 after the bank has allotted 10,14,82,527 equity shares of Rs. 10/- each to Government of India at a price of Rs.113.32 per share; 1,60,00,000 equity shares of Rs. 10/- each to Life Insurance Corporation of India at Rs.96.03 per share.
Procter & Gamble slipped 3.2% to Rs. 6,199. The company posted a net profit of Rs. 973 mn for the quarter ended March 31, 2016 compared with Rs.868.9 mn for the quarter ended March 31, 2015.
Aarti Drugs cracked 4.3% to Rs. 464. The company reported a consolidated net profit of Rs.18.6 crore as against Rs.17 crore in the same period last year.
Jindal Steel & Power dropped 2.7% to Rs.64.25 on BSE. JSPL will sell certain steel and mining assets and will expand its power business portfolio into renewable energy and transmission and distribution (T&D), CEO Ravi Uppal has been quoted as saying by a business daily.
USDINR trade today trading down 3 paise at 66.57 per US dollar.
Out of 1,392 stocks traded on the NSE, 748 declined and 576 advanced today.
Top 5 Nifty Gainers: NTPC (2.78%), Bajaj Auto (2.03%), ITC Ltd (2.02%), Asian Paints (1.98%), and HDFC Bank (1.91%).
Top 5 Nifty Losers: Dr Reddys Lab (-0.56%)
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