Companies and Markets

Companies & Markets

Sensex scales 30,000-mark in early trade

The benchmark Sensex today regained the 30,000-mark early on by surging over 76 points after investors built more bets and domestic financial institutions continued buying amid mixed Asian cues.
The 30-share index, which had gained 67.35 points in the previous session, added 76.39 points, or 0.26 per cent, at 30,002.54 on sustained buying activity in early trade.
All sectoral indices led by realty, consumer durables, metal, power and capital goods were trading in the positive terrain, rising up to 1.96 per cent.

Canara Bank posts Rs214 crore Q4 profit on lower bad loan provisions

Public sector lender Canara Bank on Monday posted a profit of Rs 214 crore for the March quarter of the last financial year as it managed to rein in non-performing assets. In comparison, the bank had registered a loss of Rs 3,905 crore for the fourth quarter of the previous fiscal, 2015-16.
Canara Bank MD and CEO Rakesh Sharma said the bank's net interest income increased by 14.08 per cent year-on-year to Rs 2,708 crore.

Tractor stocks in limelight on getting BS-IV relief

Tractor stocks were in demand on the bourses on Monday as the Supreme Court exempted tractor, farm and construction equipment makers from the BS-IV vehicle emission norms.
The Supreme Court on March 29 had passed an order banning the sales of all BS-III vehicles comprising passenger and commercial vehicles after March 31, 2017.
However, a two-judge Supreme Court panel headed by M B Lokur ordered on Monday that tractors, farm-equipment and construction vehicles to be exempt from BS-IV vehicle emission norms.

Sensex gains 78 pts on Asian cues; Nifty tops 9,300

The benchmark Sensex gained over 78 points and the NSE Nifty reclaimed the 9,300-mark in early trade today on widespread gains tracking a firm trend in Asia.
The 30-share index was trading higher by 78.22 points, or 0.26 per cent, at 29,937.02 with all the sectoral indices led by consumer durables, auto, capital goods and healthcare, trading in the positive terrain by gaining up to 0.66 per cent.
The gauge had lost 267.41 points in the previous session on Friday on global weakness due to a renewed slide in crude oil prices.

Use sharp upward moves to sell

The market was under pressure in a four-day trading week and lost ground on three days.
The Sensex lost 59.60 points, or 0.20 per cent, to close at 29,858.80 points, while the Nifty lost 18.75 points and closed at 9,285.30 points.
The fall on Friday was big and the week had turned a negative one for the market which was making gains until then.
The primary market continues to be buoyant and seems to be attracting all the attention.

Sensex slips below 30,000, down 133 pts in early trade

The BSE benchmark cracked below the 30,000-level by dropping 133 points in early trade today on emergence of profit-booking after yesterday's strong rally.
Besides, a weak trend in global markets as investors await the US non-farm payrolls data and drop in commodity prices overnight also influenced sentiment.
The 30-share barometer tripped by 133.04 points, or 0.44 per cent, to 29,993.17 in early trade.
The index had risen by 231.41 points in the previous session, buoyed by reform steps in the banking and infra space.

Foreign funds in construction slump to $99m in FY17

Clouds of uncertainty hovering over the shaky housing sector refuses to blow over as foreign fund flow in the construction business shrunk dramatically in the last fiscal.
After the initial surge, foreign fund flow to the construction sector, which includes housing and real estate, is on rapid decline. The sector received only $99 million from overseas investors in FY17 (till December) as against $769 million in FY15.

Adani may face hefty fine in Oz over green breaches

Adani Australia could face a multi-million penalty for possible environmental breaches over flood waters released from the Indian mining giant's Queensland coal port after Cyclone Debbie which wreaked havoc in the country.
The Queensland government said it was probing and considering a compliance action on the issue of possible breach by Adani in respect to water released from its Abbot Point facility that had eight times more sediment than allowed limit.

NCLAT to hear Mistry’s pleas in July; to pass order together

The National Company Law Appellate Tribunal (NCLAT) would pass order together for two cases filed by the ousted Tata Group chairman Cyrus Mistry camp over maintainability of pleas against Tata's and waiver in the filing criteria.
A NCLAT bench headed its chairman Justice SJ Mukhopadhya on Thursday adjourned the two matters after a brief hearing to July 3. The appellate tribunal would continuously hear the matter till July 7.