Sensex, Nifty ends flat; Bharti Airtel down 2% ahead of Q4
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After regaining 30,000 mark on Tuesday, Sensex ended slightly higher by 7 points or 0.02% at 29,933.25.
Nifty 50 closed at 9,316.85 higher by 2 points or 0.03%.
Top gainers on BSE involved Larsen & Toubro at Rs 1742.80 per piece up 2%, followed by Adani Ports at Rs 347.65 per piece (1.56%), Wipro at Rs 508.70 per piece (1.21%), Axis Bank at Rs 517.30 per piece (1.21%) and Tata Motors at Rs 426.70 per piece (0.82%).
Losers involved Hero Motocorp at Rs 3289.80 per piece down 3.07%, Lupin at Rs 1250.70 per piece (2.25%), Bharti Airtel at Rs 345.10 per piece (1.75%), State Bank of India at Rs 296 per piece (0.89%) and Power Grid at Rs 208.15 per piece (0.86%).
Share price of Godrej Consumer Products (GCP) touched a 52-week high of Rs 1,909 per piece after reporting a whopping 212% in its consolidated net profit for the fourth quarter ended March 31, 2017 result.
The company reported a consolidated net profit of Rs 390 crore in Q4FY17, a jump of 212% as against Rs 125 crore during the same quarter last year (Q4FY16).
The company's net profit from India business in Q4FY17 stood at Rs 253 crore, up 21% from Rs 210 crore in Q4FY16.
At 1258 hours, shares of GCP were trading at Rs 1,884 per piece on BSE, higher by Rs 125 or 7.16%.
Indian education content company, S Chand & Company Ltd on Tuesday made its debut on stock exchanges. The company listed at Rs 707 per piece, or at a premium of 5.5% as against issue price of Rs 670 per piece.
However, soon after the listing the shares of the company dropped.
At 1132 hours, share price of S Chand & Company was trading at Rs 684.45 per piece on NSE, down Rs 16 or 2.22%.
Top gainers on BSE involved Tata Steel trading at Rs 437.50 per piece up 1.27%, followed by Tata Motors (Rs 427 per piece), Bajaj Auto (Rs 2871.95 per piece), HDFC Bank (Rs 1543 per piece), Reliance Industries (Rs 1328.60 per piece) and ONGC (Rs 187.05 per piece) trading positive in the range of 0.40% - 0.97%.
Among losers involved ICICI Bank at Rs 299.70 per piece down 1.20%, followed by Bharti Airtel (Rs 347.80 per piece), State Bank of India (Rs 295.85 per piece), Lupin (Rs 1268.70 per piece), Cipla (Rs 546.15 per piece) and Hero Motorcorp (Rs 3366.95 per piece) trading negative in the range of 0.70% - 1%.
HUDCO on its first day of initial public offering (IPO) got subscribed by 63% with investors bidding over 12.91 crore shares compared to total 20.40 crore equity shares offered.
The issue received most bids from retail individual investors (RII) with 10.67 crore shares, subscribing by 1.52 times as against 70.06 lakh shares offered.
Meanwhile, about 1.75 crore equity shares bids were from qualified institutional buyers (QIB) just 18% of total 10 crore shares kept reserved.
Indian markets open in green on Tuesday trading session.
At 9.23 am, Sensex was trading at 29,983.20 above 57 points or 0.19%, while Nifty was trading at 9,319.45 up 11 point or 0.12%.
Analysts at Motilal Oswal said, "Results, govt action and flows will remain in focus. Crude price saw a bounce. Overall value buying in sector like Pharma, soft- ware and recovery in oil space could continue to support indices."
Asian Markets were mixed on Tuesday with Japan and China shares fell.
Japan's Nikkei 225 was trading at 19,879.98 down 15.72 points or 0.08%, while China's Shanghai SE Composite Index was trading below 16.81 points or 0.55% at 3,061.80.
However, Hong Kong's Hang Seng was trading mostly flat at 24,581.47.