Sensex settles 108 points lower ahead of RBI policy outcome; Bharti Airtel, Idea crack up to 10%
Reliance Communications share price cracked over 10 per cent on Tuesday after the company said it would not pay interest on its non-convertible debentures (NCDs) until its restructuring process is completed.
The stock slid as much as 10.15 per cent to Rs 14.15 on the BSE. The stock has lost more than half its value this year up to Monday.
Dilip Buildcon share price tanked 5 per cent, hitting its lower circuit after the company in a regulatory filing said that promoter Dilip Suryavanshi has pledged additional 41,406 shares with RBL Bank on May 23.
The stock fell 5 per cent to hit a low of Rs 818.50.
Today is World Environment Day and it is a timely reminder to everyone to ensure they take action to protect the environment from the harm that is being caused by human activity. From planting a tree, saying no to plastic bags and walking to the shop rather than taking a car or a scooter, everyone must chip in to do the good work. The fate of future generations is at stake. In the same vein, for stock market investors, there are certain companies they can eye positively and generate profit from. With 5000-odd companies listed on stock exchanges, this special day gives an opportunity to pick up a few different themes in your portfolio. As we celebrate Environment Day today, let's take a look at environment-linked stocks or in other words, eco-friendly stocks on Dalal Street. Remember, what you are doing is ensuring the welfare of mankind
Biocon share price rallied over 6 per cent to hit its lifetime high after the pharma major and its global partner Mylan received USFDA nod for a biosimilar of a drug used to treat cancer. The stock gained as much as 6.25 per cent to its all-time high of Rs 695 on the BSE.
"The US Food and Drug Administration (FDA) has approved Mylan’s Fulphila™ (pegfilgrastim-jmbd), a biosimilar to Neulasta® (pegfilgrastim), co-developed with Biocon. Fulphila has been approved to reduce the duration of febrile neutropenia (fever or other signs of infection with a low count of neutrophils, a type of white blood cells) in patients treated with chemotherapy in certain types of cancer," said Biocon in a filing to BSE.
Nifty and BankNifty on Monday closed lower by 67.70 points at 10,628.50 and 435.25 points at 26,257.55 respectively. The positive global and neutral Domestic Institutional Investors (DIIs), Future and Options (F&O), but negative foreign institutional investors (FII) plus weak sentiment, signal that the short trend of the domestic market is still going to be positive on June 5, 2018 (Tuesday).
However, yesterday’s surprise fall created panic among traders. Huge sell off in cash stocks is a big worry for retail investors. Notably, the discount in Nifty and BankNifty increased to 30 and 67 points.
Vedanta: Vedanta said it has deposited an upfront amount of Rs 5,320 crore in the escrow account of Electrosteel Steels Ltd (ESL) following the latter's acquisition through the insolvency process.
Target: Rs 1230
Stoploss: Rs 1085
- 12 per cent share of total income from environment protection
- FIIs and MFs increased stake in the company
The Sensex and Nifty pared initial gains to settle lower as cautious investors trimmed their portfolios amid the Reserve Bank of India's monetary policy meeting getting underway. A crash in index heavyweights such as HDFC Bank and Bharti Airtel also contributed to the losses.
The Sensex ended at 35,011, down 215 points, while the broader Nifty50 settled at 10,628, down 67.70 points. Broader markets underperformed with the BSE Midcap losing 0.8 per cent. The BSE Smallcap index cracked over 2 per cent.
Market breadth, indicating the overall health of the market turned sharply negative. On the BSE, 2,127 stocks declined, 563 stocks gained, while 182 stocks remained unchanged.