The BSE Sensex and NSE Nifty open flat to lower on Monday as cues from Asian markets are mixed. The Indian rupee opened little changed against the USD. Markets may witness volatility during this week ahead due to derivatives expiry next week and the recent spike in worries on the Korean peninsula.
Stocks of Oil and Gas (O&G) companies were trading in green during the Monday’s trading session after Liquefied natural gas (LNG) pricing formula negotiation from Australia’s Gorgon project.
Gail (India) Ltd was the top gainer in O&G index, trading up by 4.10 percent at Rs 395 per share. GAIL stock was contributing mostly to the index gaining, BY registering a spurt in volume by more than 1.07 times today. Further, Reliance Industries, Petronet LNG, Hindustan Petroleum Corporation (HPC) and BPCL were contributing more than 20 points.
Bajaj Finance Ltd has launched a Rs. 4,500 crore QIP fundraising, at the floor price of Rs.1,777.9 per share to set a new record this year.
Qualified Institutional Placement (QIP) is a fund raising tool by which listed firms can sell equity shares, fully & partly convertible debentures that are convertible into stocks to a qualified institutional buyer. The company has set a floor price of Rs 1,777.9 per share for the share sale and is offering a discount of up to 5 percent on the floor price.
After opening on a passive note, Nifty has again lost ground led by selling pressure in the Pharma stocks and realty stocks, but the Metals index showed positive signals.
Buzzing stocks: Stocks of Raymond hits fresh 52-week high with growing volumes.
Shares of Apex Frozen Foods IPO list at Rs 202 on NSE with a price band at Rs 175.
Stocks of NMDC rises over 2 percent after the company increased iron ore prices by Rs 175 per tonne for September.
Stocks of TVS Motors gains 1.5 percent after company’s August sales rose 16 percent.
Ajanta Pharma Stock advanced 1 percent after the company obtained USFDA approval for generic of Comtan tablets, while Sun Pharma down marginally seeing single digit decline in revenues for FY18.
The companies such as JBM Auto, Film Industries, Manali Petrochemicals, Salasar Techno are excepted the announce their results today.