10.11 am: Healthcare services major Narayana Hrudayalaya Ltd on Thursday fixed the price band between Rs 245 and Rs 250 for its initial public offer (IPO), which will
hit the capital market on December 17. Sensex was down 51 points at 25,200.
9.46 am: Cipla has received an approval for transfer of the consumer healthcare business of the company to Cipla Health on a going concern basis by way of a slump sale for a lump sum consideration of Rs 16 crore. The board of directors at their meeting held on December 10, 2015 has approved for the same. Cipla Health is a newly incorporated subsidiary of the company and was incorporated on August 27, 2015. It will focus its business activities in the consumer healthcare space. The consumer healthcare business to be transferred to Cipla Health includes the scope of the business as approved on July 09, 2015, along with certain additional business. The share price of Cipla was up 0.78 per cent at Rs 640.15.
9.23 am: Sensex was down 51.73 points at 25,196. Share price of Texmaco Rail and Engineering were up 6.58 per cent at Rs 147.30. The share price of the company jumped after it informed BSE on Thursday post market hours that a four-company consortium of Texmaco Rail & Engineering, Kolkata, Hitachi Ltd, Mitsui & Co and Hitachi India, a Hitachi subsidiary has won a contract for the design and construction of Signal and Telecom works – STP5, a part of the dedicated freight corridor traversing India’s biggest industrial cluster between Delhi and Mubai from the Dedicated Freight Corridor Corporation of India. The sector covered by the contract, which is worth a total of approx Rs 1,800 crore will cover 915 km distance between Rewari in the State of Haryana and Vadodara in the State of Gujarat.
9.21 am: In the NSE Nifty50 index, Tata Steel, Hindalco, Vedanta, HUL and Bosch were up between 0.50 per cent and 2.10 per cent. On the other hand, ITC, TCS, Mahindra & Mahindra, HCL Tech and Bharti Airtel were down between 0.45 per cent and 0.60 per cent. Nifty was marginally down 2 points at 7,681.25.
9.16 am: Shares of Maruti Suzuki will remain in focus on Friday as the nation’s biggest carmaker by sales, plans to raise prices of its cars by up to Rs 20,000, starting January 1, to offset cost increases and unfavourable foreign exchange rates. Shares of Maruti Suzuki were up 0.34 per cent at Rs 4511.80. Sensex was marginally down 14 points at 25,238.
9.15 am: The BSE Sensex and NSE Nifty opened on a flat note to cautious note on Friday tracking Asian markets. Sensex opened 29.45 points up at 25,281, while NSE Nifty opened 16.30 points up at 7,699.60.
Asian shares slumped on Friday, on track for a weekly loss as plunging crude prices heightened fears about receding global growth, while China’s yuan hit its weakest level in more than four years.
A supply glut in oil markets and cooling growth in China, the world’s biggest commodities consumer, have pressured many asset markets ahead of a widely expected hike to US interest rates by the Federal Reserve next week.
Back home, domestic shares rebounded from an oversold position on Thursday to rise for the first time in seven days as the benchmark BSE Sensex perked up by more than 216 points on value-buying in recently beaten-down commodity stocks, led by Reliance Industries, Hindalco and Tata Steel.
The initial public offerings of drug maker Alkem Laboratories and diagnostic chain Dr Lal PathLabs elicited robust investor response, with 44.23 times and 33.31 times over subscription, respectively, on the last day of bidding on Thursday.
(With agency inputs)
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