Tag: GAIL

Markets extend losses; GAIL, Coal India shares dip

31/01/2017 10:25

The key domestic benchmark indices were trading in a negative terrain in the morning trading session tracking weak cues from fellow Asian peers after Wall Street ended mixed in overnight trade, ahead of the release of Economic Survey 2017-18 later today, which will give an indication about GDP growth, fiscal targets and impact of demonetization on the economy.

The IT stocks may come under pressure on reports that the Trump administration has drafted an executive order aimed at overhauling the work-visa programs, including the H1B and L1 visas.

The market may see stock specific movement as over 150 companies would release their earnings report today which includes index heavyweights such as, ICICI Bank, Bajaj Auto, Oil India, InterGlobe Aviation and JSW Steel.

At 10:10 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 27800.21 down by 49.35 points or by 0.18 per cent, while the NSE Nifty was at 8599.1 points, trading lower by 33.65 points or by 0.39 per cent.

The BSE Sensex touched an intraday high of 27867.92 and an intraday low of 27695.23 while the NSE Nifty touched an intraday high of 8631.75 and an intraday low of 8579.7

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 205.65,+1.98 per cent), Power Grid Corporation of India Ltd. (Rs. 208.10,+1.51 per cent), Tata Steel Ltd. (Rs. 468.80,+1.48 per cent), NTPC Ltd. (Rs. 177.60,+1.40 per cent), Hindustan Unilever Ltd. (Rs. 858.00,+0.53 per cent), among others.

Meanwhile, GAIL (India) Ltd. (Rs. 470.65,-2.70 per cent), Coal India Ltd. (Rs. 307.20,-2.40 per cent), Tata Consultancy Services Ltd. (Rs. 2298.55,-1.53 per cent), Infosys Ltd. (Rs. 936.30,-1.27 per cent), Axis Bank Ltd. (Rs. 466.50,-1.25 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2157 shares traded, 895 shares advanced, 1119 shares declined while 143 were unchanged.

On the global front, Asian stocks were trading lower today as worries about the economic impact of US President Donald Trump’s immigration policies continued to weigh on markets, while the US markets closed lower in the previous trading session after a lack luster trade, with major averages giving up some gains on profit taking.

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Markets pare early losses; GAIL, Tata Motors shares advance

23/01/2017 10:22

The key domestic benchmark indices were trading in a positive terrain in the morning trading session as investors got some support with the BRICS nation’s National Development Bank chief K V Kamath’s statement that India will continue to grow on the back of its consumption-driven economy.

The volatility will remain high in the holiday shortened week with the January expiry happening a day ahead of Republic Day holiday.

Investors are also expected to react to earnings reports of index heavyweights such as, Hindustan Unilever, Idea Cellular and Bharti Infratel, which will test the nerves of the traders with their financial results for the quarter ended December 31, 2016.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 27114.26 up by 79.76 points or by 0.3 per cent, while the NSE Nifty was at 8381 points, trading higher by 31.65 points or by 0.38 per cent.

The BSE Sensex touched an intraday high of 27159.68 and an intraday low of 26963.58 while the NSE Nifty touched an intraday high of 8394.35 and an intraday low of 8327.2

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 467.05,+1.57 per cent), Tata Motors Ltd. (Rs. 531.25,+1.55 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 200.30,+1.47 per cent), Tata Steel Ltd. (Rs. 460.90,+1.39 per cent), Wipro Ltd. (Rs. 483.45,+1.29 per cent), among others.

Meanwhile, ICICI Bank Ltd. (Rs. 256.60,-2.58 per cent), Larsen & Toubro Ltd. (Rs. 1400.65,-0.98 per cent), Axis Bank Ltd. (Rs. 446.15,-0.97 per cent), Bharti Airtel Ltd. (Rs. 318.40,-0.72 per cent), Hindustan Unilever Ltd. (Rs. 857.10,-0.46 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2102 shares traded, 1371 shares advanced, 640 shares declined while 91 were unchanged.

On the global front, Asian stocks were trading mixed today as the dollar declined against yen after Donald Trump in his first days in office offered little news on his plans to boost growth, while the US markets closed higher in the previous trading session with the Dow snapping its five days losing streak and traders seemed focused on President Donald Trump’s inaugural address after he was officially sworn in as the 45th president.

Post Session: Sensex ends 87 pts lower, Nifty settles below 8,700; Tata group shares fall

25/10/2016 16:37

The Indian benchmark indices ended tad lower on Wednesday, led by losses in frontline bluechip such as Tata Steel, M&M, Idea Cellular, GAIL and HUL, HDFC, Bharti Airtel and TCS, as sentiments remained weak in the absence of any positive trigger.

The 30-share BSE SENSEX closed at 28091.42, down by 87.66 points or by 0.31 per cent, and the NSE Nifty ended at 8691.3, down by 17.65 points or by 0.2 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 28211.41 and intraday low of 28013.69, while the NSE Nifty touched intraday high of 8722.65 and intraday low of 8663.45.

On the corporate front, shares of Tata group companies witnessed selling pressure after Tata Sons removed Cyrus Pallonji Mistry as chairman of the conglomerate and appointed Ratan Tata, chairman of Tata Trusts as interim chairman for four months.

The top losers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1303.00,-2.72%), Tata Steel Ltd. (Rs. 415.50,-2.51%), GAIL (India) Ltd. (Rs. 434.90,-2.02%), Hindustan Unilever Ltd. (Rs. 832.05,-2.00%), Oil And Natural Gas Corporation Ltd. (Rs. 289.10,-1.30%), among others.

On the flip side, Adani Ports & Special Economic Zone Ltd. (Rs. 312.60,+9.43%), Dr. Reddy’s Laboratories Ltd. (Rs. 3200.45,+3.59%), ICICI Bank Ltd. (Rs. 289.10,+1.60%), Axis Bank Ltd. (Rs. 529.05,+1.49%), Bharti Airtel Ltd. (Rs. 311.05,+1.48%), were among top gainers on BSE.

On the sectoral front, IT and FMCG stocks were among top losers on BSE, falling as much as 0.84 per cent and 0.83 per cent respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3179, shares advanced were 1431 while 1496 shares declined and 252 were unchanged.

Markets remain firm; GAIL, RIL shares advance

Markets remain firm; GAIL, RIL shares advance

06/10/2016 10:16

The key domestic benchmark indices were trading higher in the morning trading session tracking a buoyant trend across markets in Asia and a strong finish at Wall Street overnight as a rally in crude oil prices boosted energy stocks while upbeat US services data signaled strength in the world’s biggest economy, boosting risk taking appetite.

A better outlook for Asia’s third biggest economy amid the 25 basis points interest rate cut by the Reserve Bank of India (RBI) this week which may help revive investment and boost consumption may support sentiment at Dalal Street.

At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 28309 up by 88.02 points or by 0.31 per cent, while the NSE Nifty was at 8771.75 points, trading higher by 27.8 points or by 0.32 per cent.

The BSE Sensex touched an intraday high of 28326.73 and an intraday low of 28238.09 while the NSE Nifty touched an intraday high of 8774.8 and an intraday low of 8741.35

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 411.65,+2.75 per cent), Reliance Industries Ltd. (Rs. 1114.95,+2.35 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 270.55,+1.42 per cent), Hindustan Unilever Ltd. (Rs. 880.40,+1.04 per cent), Tata Motors Ltd. (Rs. 561.90,+0.68 per cent), among others.

Meanwhile, Axis Bank Ltd. (Rs. 529.60,-1.14 per cent), Infosys Ltd. (Rs. 1034.35,-0.65 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 264.85,-0.34 per cent), State Bank of India (Rs. 259.80,-0.29 per cent), Coal India Ltd. (Rs. 320.85,-0.28 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2188 shares traded, 1490 shares advanced, 603 shares declined while 95 were unchanged.

On the global front, Asian stocks were trading higher today as bets rose that the US Federal Reserve may cut interest rates this year as data suggested that the US economy was regaining momentum. US stocks closed higher in the previous trading session as investors cheered upbeat US services data and a slight advance in August factory orders.

Markets remain firm; GAIL, ONGC shares advance

04/10/2016 10:21

The key domestic benchmark indices were trading in a positive terrain in the morning trading session ahead of the Reserve Bank of India’s policy review later in the day, tracking a mixed trend across markets in Asia. Investors are hoping that the newly established Monetary Policy Committee (MPC) headed by Patel may cut interest rates by 25 bps amid the recent dip in consumer inflation.

Besides rate cut hopes, positive global cues and steps taken by India and Pakistan to ease military tensions also boosted market sentiment.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28315.92 up by 72.63 points or by 0.26 per cent, while the NSE Nifty was at 8765.55 points, trading higher by 27.45 points or by 0.31 per cent.

The BSE Sensex touched an intraday high of 28402.65 and an intraday low of 28306.94 while the NSE Nifty touched an intraday high of 8778.3 and an intraday low of 8751.6

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 398.70,+3.63 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 269.40,+3.54 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 767.75,+1.32 per cent), Reliance Industries Ltd. (Rs. 1102.35,+1.10 per cent), Cipla Ltd. (Rs. 594.50,+0.99 per cent), among others.

Meanwhile, Coal India Ltd. (Rs. 321.25,-2.01 per cent), Larsen & Toubro Ltd. (Rs. 1456.80,-0.89 per cent), Axis Bank Ltd. (Rs. 547.15,-0.69 per cent), Bharti Airtel Ltd. (Rs. 317.30,-0.45 per cent), Mahindra & Mahindra Ltd. (Rs. 1438.00,-0.35 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2288 shares traded, 1382 shares advanced, 799 shares declined while 107 were unchanged.

On the global front, Asian stocks were trading mixed today as rebound in oil prices and growth in US manufacturing bolstered sentiment. US stocks closed lower in the previous trading session amid renewed concerns about the UK’s exit from the European Union and Deutsche Bank’s liquidity, undermining stronger-than-expected manufacturing data.

Markets remain firm; Gail, Bharti Airtel shares advance

28/09/2016 10:22

The key domestic benchmark indices were trading in a positive terrain in the morning trading session as investors got support with Finance Minister Arun Jaitley’s statement that the government is confident of meeting the April 2017 target to implement the Goods and Services Tax as state finance ministers cooperate to make the single tax reform a reality soon.

Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the September futures & options (F&O) contracts expiry tommorrow.

Caution is also likely to persist ahead of the upcoming monetary policy review of the RBI on Tuesday with a 25 basis points cut in interest rates a possibility given the dip in consumer inflation to below the upper tolerance limit of the government’s annual inflation target of 4 per cent plus or minus 2 percentage points.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28273.01 up by 49.31 points or by 0.17 per cent, while the NSE Nifty was at 8726.2 points, trading higher by 19.8 points or by 0.23 per cent.

The BSE Sensex touched an intraday high of 28292.29 and an intraday low of 28198.3 while the NSE Nifty touched an intraday high of 8728 and an intraday low of 8703.15

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 378.00,+1.29 per cent), Bharti Airtel Ltd. (Rs. 318.00,+1.27 per cent), Power Grid Corporation of India Ltd. (Rs. 177.95,+1.08 per cent), Bajaj Auto Ltd. (Rs. 2901.55,+1.06 per cent), State Bank of India (Rs. 251.15,+0.88 per cent), among others.

Meanwhile, Reliance Industries Ltd. (Rs. 1097.10,-1.20 per cent), Wipro Ltd. (Rs. 481.20,-0.66 per cent), Hindustan Unilever Ltd. (Rs. 891.25,-0.52 per cent), Infosys Ltd. (Rs. 1035.45,-0.48 per cent), Tata Consultancy Services Ltd. (Rs. 2420.05,-0.44 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2088 shares traded, 1396 shares advanced, 563 shares declined while 129 were unchanged.

On the global front, Asian stocks were trading mixed today amid fading hopes of an output cut at a meeting of OPEC countries on Wednesday. US stocks closed higher in the previous trading session as US consumer confidence scaled a nine-year high in September, bolstering the outlook for the world’s biggest economy.

Post Session: D-St gives thumbs up to Fed outcome; Sensex ends 265 pts higher

22/09/2016 16:19

The Indian equities ended on robust note on Thursday, led by gains in index heavyweights such as ICICI Bank, Tata Steel, SBI, Hero MotoCorp, Maruti Suzuki, HDFC, Tata Motors, GAIL, ONGC and RIL, tracking firm cues from Asian peers after US Federal Reserve kept key short-term interest rate steady. Sustained inflows from foreign investors and across-the-board buying by the investors also helped market sentiments.

The 30-share BSE SENSEX closed at 28773.13, up by 265.71 points or by 0.93 per cent, and the NSE Nifty ended at 8867.45, up by 90.3 points or by 1.03 per cent.

In the bullish trade, the BSE Sensex touched intraday high of 28871.92 and intraday low of 28693.07 , while the NSE Nifty touched intraday high of 8893.35 and intraday low of 8837.8.

The top gainers of the BSE Sensex pack were State Bank of India (Rs. 257.35,+2.39%), Hero MotoCorp Ltd. (Rs. 3538.60,+2.27%), ICICI Bank Ltd. (Rs. 275.55,+2.19%), Adani Ports & Special Economic Zone Ltd. (Rs. 275.20,+2.06%), Asian Paints Ltd. (Rs. 1192.35,+1.97%), among others.

On the flip side Tata Consultancy Services Ltd. (Rs. 2377.65,-1.49%), Lupin Ltd. (Rs. 1528.30,-1.17%), Axis Bank Ltd. (Rs. 591.95,-1.01%), Coal India Ltd. (Rs. 327.70,-0.77%), Dr. Reddy’s Laboratories Ltd. (Rs. 3138.20,-0.45%), were among top losers on the BSE.

On the sectoral front, oil&gas and bankex stocks emerged as top gainers, adding as much as 1.51 per cent and 1.49 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3146, shares advanced were 1794 while 1106 shares declined and 246 were unchanged.

GAIL gets Cabinet nod for dev of gas infra in eastern region

GAIL gets Cabinet nod for dev of gas infra in eastern region

21/09/2016 16:17

The Cabinet Committee on Economic Affairs has approved viability gap funding / partial capital grant at 40 per cent (Rs 5,176 crore) of the estimated capital cost of Rs 12,940 crore to GAIL for the development of 2,539 km long Jagdishpur-Haidia and Bokaro-Dhamra Gas Pipeline (JHBDPL) project, as per the government release.

Further, this project will connect eastern part of the country with National Gas Grid, added the report.

Moreover, it will ensure the availability of clean and eco-friendly fuel i.e. natural gas to the industrial, commercial, domestic and transport sectors in the states of Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal, the government said in a statement.

Additionally, this capital grant will encourage the supply of eco-friendly fuel at affordable tariffs to industries and will encourage industrial development in these states, it added.

Mahanagar Gas IPO opens

Mahanagar Gas IPO opens

21/06/2016 13:52

Mahanagar Gas Ltd (MGL), India’s second biggest CNG retailer, hit the capital markets today to raise around Rs 1,040 crore through an initial public offer, said the media reports.

The company, promoted by state-run GAIL and British Gas Asia Pacific Holdings Pte Ltd, is making an offer for sale of up to 24,694,500 equity shares of Rs 10 each, reported PTI.

British Gas and GAIL will sell up to 12,347,250 equity shares each in the IPO. The gas distributor firm has fixed the price band of Rs 380-421 for its initial public offer.

The initial share-sale programme opened today and will close on June 23. At the upper end of the price-band, the firm will garner Rs 1,039.64 crore.

The money raised through the IPO would accrue to the promoters who are selling their stake. The IPO is being managed by Kotak Mahindra Capital Company Ltd and Citigroup Global Markets India Pvt Ltd.