Buzzing:
Waltham Forest Council, based in East London, England, has selected Oracle Fusion Cloud Applications Suite to streamline operations. By using Oracle Fusion Applications for finance, procurement, and HR the Council will be able to improve insights, reduce costs, and enhance its employee experience. The implementation will be delivered by Oracle Partner Network (OPN) member, Evosys, a Mastek company.
Mastek was quoting at Rs 2,109.60, up Rs 65.55, or 3.21 percent
Today’s Stock Market Action
Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services:
Nifty has surpassed its key level of 15735 but there is some pressure at higher levels of 15888-16000. Overall we expect the index to trade in a broader range with capped upside.
At current juncture, we are advising to be with selective stocks and one can look for buying opportunity in HCL Tech, Paytm and Shriram Transport Finance.
ICRA downgrades long-term credit rating on GE T&D India
GE T&D India: ICRA has downgraded the long-term of the fund based and non-fund based facilities of the company to A from A+ with negative outlook, due to decline in company’s financial performance.
GE T&D India was quoting at Rs 98.85, up Rs 0.40, or 0.41 percent on the BSE.
Realty stocks ride higher as Nifty Realty gains more than 1 percent
Realty stocks ride higher as Nifty Realty gains more than 1 percent. All stocks in the index trade positive led by Sunteck, Godrej Properties and Phoenix Ltd.
Realty stocks ride higher as Nifty Realty gains more than 1 percent
Realty stocks ride higher as Nifty Realty gains more than 1 percent. All stocks in the index trade positive led by Sunteck, Godrej Properties and Phoenix Ltd.
Vedanta is preparing for its biggest ever Rupee-bond sale
Vedanta is preparing for its biggest ever Rupee-bond sale. The company is looking to secure commitments for its 10 year notes amounting to Rs 4,809 crore. The proceeds will be used to prepay or repay debt and also for capital expenditure.
Bajaj Auto board approves share buyback plans of up to Rs 2,500 crores
Bajaj Auto board approves share buyback plans of up to Rs 2,500 crores as it offers to buyback 54,34,782 shares at up to Rs 4,600 per share from the open markets. This represents 9.61 percent 8.71 percent of the aggregate of the total paid-up share capital and free reserves (including securities premium account) of the Company.
Market at 2.00 AM
Indices trade higher, Sensex up around 600 points, Nifty around 15,900
The Sensex was trading higher with a gain of 637.4 points or 1.21% at 53,365.39 and the Nifty was higher by 197.6 points or 1.26% at 15,897. About 2,517 shares have advanced, 820 shares declined, and 161 shares are unchanged.
Buzzing
CSB Bank in its BSE filing said the board has appointed Bhama Krishnamurthy as the part-time chairperson of the bank. This appointment is subject to the approval of Reserve Bank of India.
CSB Bank was quoting at Rs 195.30, up Rs 3.10, or 1.61 percent on the BSE.
BSE Midcap Index up 1 percent supported by the JSW Energy, Mindtree, IDFC First Bank
UBS View on Zomato:
Brokerage house UBS has kept buy rating on Zomato with a target at Rs 95 per share.
The company reiterated earlier guided upper limit of USD 400 million over next 2 years.
The lower valuation & reiteration of upper limit in further investments into Blinkit are positives, reported CNBC-TV18.
