The closing of the transaction is subject to customary approvals and conditions

Shares of Adani Green Energy added more than 10 percent in the early trade on August 30 after the company said it is going to acquire 205 MW operating solar assets of Essel Green Energy.

The company in its press release said that it has signed a securities purchase agreement for the acquisition of 205 MW operating solar assets of Essel Green Energy (EGEPL) and Essel Infraprojects (EIL).

All the assets have long term power purchase agreements (PPAs) with various state electricity distribution companies.

The closing of the transaction is subject to customary approvals and conditions.

The acquisition of these assets is at an enterprise valuation of approximately Rs 1,300 crore.

"This is our first brownfield acquisition of operating assets. It expands our footprint in states where we already have a presence, and with our strong operational expertise, will deliver significant value for our shareholders, said Jayant Parimal, CEO of Adani Green Energy.

Adani Green Energy Limited was quoting at Rs 46.95, up to Rs 3.60, or 8.30 percent on the BSE.

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Shares of InterGlobe Aviation Ltd are not very far from their lifetime highs of 1,716 seen on 28 May. Besides the airline’s stock, at 1,656.25 currently, is nearly 6% above the levels seen before the troubles between its two promoters intensified in July

InterGlobe runs IndiGo, India’s largest airline by market share. Clearly, investor worries about the turbulence at the top appear to have subsided, at least for now.

In fact, Tuesday’s annual general meeting concluded on a good note. “The consensus between promoters on ‘related party transaction’ policy and board composition is sentiment-positive," wrote Ansuman Deb of ICICI Securities Ltd in a report on Thursday. Shareholders have approved the alteration of the company’s Articles of Association to increase the board size to 10 from six earlier.

IndiGo’s operational performance has remained unaffected by the promoter squabbles so far. This is evident from the impressive June quarter numbers. One bright spot has been the better-than-expected yields (a measure of pricing) improvement of 12.7%.

Having said that, June quarter financial performance cannot be expected to be replicated in the September quarter, as the latter is traditionally leaner. The airline has done its bit to lower expectations.

During its June quarter earnings conference call, Ronojoy Dutta, chief executive officer of IndiGo, said, “We are witnessing some lower fares in the 0-15 day booking window and expect this to add some pressure to our unit revenues in the second quarter."

Nonetheless, crude oil prices have behaved and that is comforting for the sector in general. “The fall in aviation turbine fuel prices in the first 2 months of Q2FY20 will help offset weaker (versus Q1FY20) yields," said analysts at SBICAP Securities Ltd in a report on 22 August. “This will help reduce cost and improve RASK-CASK spread." RASK and CASK are revenue and cost unit measurements for airlines.

During the call, Dutta added, “I want to remind our shareholders that in the second quarter last year, we registered a negative 16% PBT margin. We will, of course, do better than that this year but how much better is still an open question." PBT is short for a profit before tax.

Going ahead, incremental benefits from the grounding of Jet Airways (India) Ltd could well be limited. IndiGo has been a key beneficiary of Jet Airways’ downfall. It flew 17% more domestic passengers in July compared to last year. The airline’s domestic market share stood at an envious 47.8%.

The sharp appreciation in IndiGo’s shares over the past year, suggests investors have taken this into cognizance. However, meaningful appreciation hereon could well be limited given the lean September quarter unless, of course, the airline surprises dramatically. Investors should watch the traction from the international market in future.

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An interest payment default of Rs 9.42 crore occurred on secured NCDs (5 years tenure) and of Rs 4.71 crore on 10 years NCDs, the company said

After three successive sessions of gains, shares of Dewan Housing Finance Corporation (DHFL) tumbled 5 percent on BSE on August 28, a day after the company said it defaulted to the tune of Rs 14.13 crore towards interest payments on bonds.

An interest payment default of Rs 9.42 crore occurred on secured NCDs (5-year tenure) and of Rs 4.71 crore on 10-year NCDs, the company said in a regulatory filing.

Separately, the housing finance company said it planned to raise funds through equity share sale or other means as part of the debt resolution plan.

The company's board will to meet on August 30, when the proposal would be tabled, the firm said in another regulatory filing.

The fund mop-up can also be through any other permissible mode or a combination of prospectus or placement document or letter of offer or any other permissible offer, it added.

Shares of DHFL were trading 1.96 percent down at Rs 47.50 at 1115 IST.

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Indian shares were largely unchanged in volatile trading on Wednesday, in line with broader Asia, as worries about a global recession kept investors away from making fresh bets

The broader NSE Nifty was up 0.01% at 11,108.15 as of 0403 GMT, while the benchmark BSE Sensex was 0.01% lower at 37,637.63.

Regional markets across Asia eked out minor gains, as higher Wall Street futures provided some relief after an overnight U.S. selloff, though deeper worries about the global economy and trade kept a lid on sentiment.

Meanwhile, domestic investors awaited clarity on what steps the Indian government would take to revive an industry-wide slowdown.

"Markets have adequately discounted the positive triggers in the last three sessions and now await fresh cues," said Deepak Jasani, senior vice-president at HDFC Securities.

"Currently, we have a negative trigger from the U.S, there is no major panic, but domestic markets will wait for fresh major development rather than selling off sharply."

Indian markets have gained on the back of the government's move to scrap a recently announced tax surcharge on foreign and domestic equity investors, speed up capital infusion to state-run banks and on expectations of additional stimulus supported by a huge dividend from the Reserve Bank of India.

Shares of major automaker Tata Motors Ltd gained as much as 3.03%. China on Tuesday said it will ease restrictions on car purchases to help boost consumption.

IDBI Bank Ltd's shares plunged as much as 9.3%. Rating firm S&P Global on Tuesday placed the bank's rating on 'credit watch negative' for breaching its regulatory capital requirement.

The Nifty metals index fell 1.55%, with shares of Vedanta Ltd declining as much as 1.45%. On Tuesday, Zambia's High Court suspended hearings on the winding up of the miner's local business until the Court of Appeal rules on the lower court's refusal to let the matter go to arbitration.

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The lender is looking to buy out assets worth around Rs 6,000 crore from the fund-starved non-banking finance companies this quarter

Shares of Bank of Baroda climbed over 4 percent on BSE on August 27, a day after the public lender said it's capital raising committee has approved raising up to Rs 2,150 crore in Tier-I, II bonds

"...capital raising committee of our bank has approved today i.e. on 26.08.2019, the issuance of Basel III compliant additional Tier I bonds for aggregate total issue size not exceeding Rs 1,650 crore, with a base issue size of Rs 500 crore and a greenshoe option to retain oversubscription up to Rs 1,150 crore," the bank said in a regulatory filing.

Meanwhile, the bank is looking to buy out assets worth around Rs 6,000 crore from the fund-starved non-banking finance companies this quarter, PTI reported on August 26, quoting a senior bank official.

The lender had already bought around Rs 3,500 crore loans from NBFCs in the June quarter, while for the year March 2019, it had purchased assets worth around Rs 10,000 crore from NBFCs/housing finance companies.

The bank is in discussions will NBFCs/HFCs such as PNB Housing Finance, Indiabulls Consumer Finance, IIFFL, Annapoorna MFI among others for this, the report further said.

In the budget, the government had said it would provide a one-time six months' partial credit guarantee to public sector banks for the first loss of up to 10 percent on their purchases of high-rated pooled NBFC assets, amounting to Rs 1 trillion.

The lender is also targeting to disburse Rs 1,000 crore under the Reserve Bank's recently introduced co-origination model between banks and non-banking financial companies, this quarter and has already lent Rs 50 crore to Srei Finance and Edelweiss Financial.

The bank is also in talks with 10 more NBFCs and micro-finance companies, including Cholamandalam, Indiabulls Housing, Adani Capital, IIFL Finance, Hero Housing, and Centrum Housing, among others for this

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The company in January had announced that it would buy back shares of the company for an amount aggregating up to Rs 8,260 crore

Shares of Infosys slipped almost 2 percent in early trade on August 27 in an otherwise positive market.

The IT major on August 26 said a board committee has approved the closure of the Rs 8,260 crore buyback offer with the company utilising almost full size of the issue approved.

The company in January had announced that it would buy back shares of the company for an amount aggregating up to Rs 8,260 crore (maximum buyback size) at a price not exceeding Rs 800 per equity share.

"... the Buyback Committee has approved the closure of the Buyback pursuant to the terms of the Public Announcement, with effect from today, i.e. August 26, 2019, prior to the expiry of six months from the commencement date," Infosys said in a regulatory filing.

Shares of Infosys traded 1.67 percent down at Rs 789.50 on BSE around 0925 hours (IST).

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This is in continuation to the order received for stage III and IV (2x500 MW and 2x500 MW) in September last year

The share price of Larsen & Toubro added nearly 2 percent intraday on August 23 after the company won an order from NTPC.

The power business of Larsen and Toubro (L&T) has bagged engineering, procurement and construction (EPC) order from NTPC to set up flue gas desulphurisation (FGD) system at Vindhyachal super thermal power station, Stage-I to II (6x210 MW Ft 2x500 MW), in Madhya Pradesh, as per company release.

This is in continuation to the order received for stage III and IV (2x500 MW and 2x500 MW) in September last year.

With this, L&T will be implementing FGD systems for 12 units constituting 4,260 MW at NTPC's Vindhyachal power plant which will have the maximum number of FGD systems at one location in India.

Installation of FGD systems in existing and upcoming thermal power plants has been made mandatory by the Ministry of Environment, Forest and Climate Change (MoEFCC) Government of India, to curtail SO2 emissions.

Larsen & Toubro was quoting at Rs 1,287.30, up Rs 0.30, or 0.02 percent on the BSE

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NEW DELHI: Finance NSE 0.15 % Minister Nirmala Sitharaman’s decision to roll back enhanced surcharge on long-term and short-term capital gains will apply to incomes from derivative trades as well

Sitharaman on Friday removed the surcharge on incomes arising from the transfer of equity shares, units of equity oriented-mutual funds and units of business trusts. 

While gains from trading in futures and options (F&O) segment are usually treated as business income, for foreign portfolio investors, they have considered capital gains because derivative exposure taken by these investors are considered as capital assets. 

Friday’s announcement meant tax payable on gains arising from the transfer of these instruments will be also be exempted from the levy of the enhanced surcharge. 

“It is decided that the tax payable on gains arising from the transfer of derivatives (future and options) by FPIs, which are liable to a special rate of tax under Section 115AD, shall also be exempted from the levy of the enhanced surcharge," the government said in a release 

The surcharge, meanwhile, will still be applicable on capital gains from debt instruments and other income such as interest, noted Jairaj Purandare, Chairman, JMP Advisors. 

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The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Committee of Creditors of Jet Airways to file an affidavit stating whether it is ready to cooperate with the Dutch bankruptcy administrator which is also pursuing insolvency proceedings against the airline.

The appellate tribunal has directed the CoC to file the affidavit within a week's time.

The debt-ridden Jet Airways is facing insolvency proceedings in The Netherlands too. It was declared bankrupt thereafter it had failed to pay two European creditors. The Dutch court subsequently appointed a bankruptcy administrator.

The three-judge bench headed by NCLAT Chairman S.J. Mukhopadhaya will next hear the matter on September 4.

Jet Airways on April 17 announced a temporary suspension of all flight services as it failed to secure interim funding from lenders to maintain even bare minimum operations.

Currently, Jet is under the insolvency process, under which a committee of creditors has invited expressions of interest (EoI) from potential bidders.

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The Sensex and Nifty on Wednesday traded on a flat note awaiting a stimulus package from the Union government

The Sensex opened slightly lower at 37,298.73 from its Tuesday's close of 37,328.01.

The Sensex traded 59.02 points higher at 37,387.03 while the Nifty was up 13.75 points at 11,030.75.

Yes, Bank was trading 3.09 per cent lower during the early trade after the latest worry originating from a disclosure regarding irregularities and unauthorised transactions at CG Power and Industrial Solution.

Yes, Bank holds 12.8 per cent stake in CG Power, which hit the lower circuit for the second straight day on Wednesday.

Besides, the rupee continues to trade with weakness against the US dollar. The rupee closed at over six-month low against the US dollar at 71.71 on Tuesday.

Foreign Institutional Investors bought stocks worth Rs 373.23 crore on Tuesday while Domestic Institutional Investors purchased scrips worth Rs 296.41 crore.

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Until Monday, Mahanagar Gas Ltd’s (MGL’s) shares had fallen about 25% from their highs in end-March. One of the key reasons was the overhang of a potential stake sale by Shell India, which owned a 10% stake in the Mumbai-based city gas distributor

While Shell India has eventually sold its entire stake, and that too at a slight discount to prevailing prices, the news had a rather dramatic effect on MGL’s shares. With the stake sale out of the way, the shares rose as much as 8% on Tuesday to 848.60.

Shell sold 9.88 million shares at a price of 780 per share, according to data from the stock exchanges.

“We do not foresee the exit of Shell to have any negative fundamental impact on MGL since they have been in the business for more than 20 years and it is more process-driven from hereon," analysts at Jefferies India Pvt. Ltd said in a note to clients.

The sharp underperformance of MGL shares since April also meant that valuations were relatively low at 12.6 times estimated FY20 earnings. This gave further impetus to the relief on Tuesday.

“Now that the technical overhang has lifted, MGL’s valuations could well be rerated and investors’ focus can shift to fundamentals," says Nitin Tiwari, vice-president at Antique Stock Broking Ltd.

He adds: “MGL’s strong Ebitda margin did not warrant a big discount on valuations compared to its peers such as Indraprastha Gas and Gujarat Gas. Even though MGL’s volume growth has been relatively slower than peers, on the profitability front, it has done far better than its peers." Ebitda stands for earnings before interest, tax, depreciation and amortization.

MGL’s volume growth of 3.3% in the recently concluded June quarter was lower than Street expectations. On the other hand, its Ebitda performance was robust. “MGL reported strong results in 1QFY20 driven by Ebitda margins at 10.1 per standard cubic meter (SCM) leading to a 9% beat on our street-high Ebitda estimate," said the analysts at Jefferies India in a report on 8 August.

To be sure, whether Ebitda margins sustain in the coming quarters remains to be seen. For now, MGL investors are celebrating the fact that key event risk is out of the way.

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The top Nifty50 gainers include Infosys, Wipro, TCS, Bharti Infratel and Maruti Suzuki while the top losers are YES Bank, Indiabulls Housing Finance, IndusInd Bank, UltraTech Cement and Britannia Industries.

Benchmark indices remained volatile with the Sensex shedding 89 points to 37,312 and the Nifty is lower by 39 points to 11,014.

Nifty PSU Bank is down over 2 percent dragged by Bank of Baroda, Bank of India, IDBI Bank, Union Bank of India, Punjab National Bank, State Bank of India and Canara Bank.

The midcap index shed a percent, the top losers being DHFL which is down over 6 percent followed by Century Textiles, Dish TV, Federal Bank, GMR Infra, M&M Financial Services, NBCC and SRF among others.

From the metal space, the top losers are Hindustan Zinc, NMDC, SAIL, Coal India, Jindal Steel & Power and Hindustan Copper.

However, Nifty IT is the outperforming sector after rupee remained weak against the US dollar. The top gainers are Infosys, Tata Consultancy Services, Wipro, Mindtree and HCL Tech.

Selective auto stocks are trading in the green led by Maruti Suzuki, Bajaj Auto, Motherson Sumi Systems, Tata Motors and Hero MotoCorp.

India VIX marginally up 0.72 percent and is trading at 16.87.

The top Nifty50 gainers include Infosys, Wipro, TCS, Bharti Infratel and Maruti Suzuki while the top losers are YES Bank, Indiabulls Housing Finance, IndusInd Bank, UltraTech Cement and Britannia Industries.

The most active stocks are YES Bank, Indiabulls Housing, Reliance Industries, ICICI Bank and Maruti Suzuki.

180 stocks have hit 52-week low on BSE including NCC, NBCC, SAIL, Britannia Industries, BHEL and Cummins India among others.

528 stocks advanced and 1151 declined while 428 remained unchanged on the NSE. On the BSE, 688 stocks advanced, 1267 declined and 125 remained unchanged.

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The company reported standalone net loss during the quarter stood at Rs 87.35 crore as compared to net loss of Rs 55.24 crore in the previous year quarter. Net revenue of the company declined substantially by 74.78 per cent at Rs 37.82 crore in April-June quarter of this fiscal as against Rs 149.94 crore in the corresponding period last year. During the April-June quarter, operating expenses dropped by 41.50 per cent to Rs 103.47 crore from Rs 176.88 crore in a year-ago period.

Other Income grew by 266.04 per cent at Rs 1.94 crore versus (Jun'18 Rs 0.53 crore). Operating Profit surged by 143.69 per cent to Rs -65.65 crore as against Rs -26.94 crores in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 866.00 per cent in June quarter. Interest declined by 22.25 per cent y-o-y to Rs 18.14 crore

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Shares of multiplex operators PVR Ltd and Inox Leisure Ltd are now down about 1.6% and 3.2%, respectively, after Reliance Industries Ltd’s (RIL’s) annual general meeting. 

The stocks had fallen much more last week, after the oil-to-telecom conglomerate’s bundled entertainment offering including a disruptive concept for watching new movies at home on the same day they are released in theatres.

Why are investors breathing easy? To start with, since RIL hasn’t given many details about its plans, the exact impact is difficult to quantify at the moment. “We do not expect any material impact on overall revenues of PVR as such a segment which subscribes to ‘premium Jio Fiber’ would be relatively small," analysts from Bank of America Merrill Lynch said in a note to clients.

Analysts at HSBC Securities and Capital Markets (India) Pvt. Ltd said to its clients, “We do not think exhibition players such as PVR and Inox Leisure will be affected by Jio’s movie offering as out-of-home entertainment demand cannot be challenged by at-home movie offerings."

As such, considering that RIL is looking to launch the so-called First Day First Show service only in the middle of 2020, from a near-term perspective, the threat from this move seems limited.

Still, the uncertainty of how the situation would evolve may weigh on multiplex stocks.

If JioFiber manages to screen popular movies on the same day as their launch on theatre screens, the impact will not be trivial.

“Reliance JIO’s announcement of ‘First Day First Show’ movie launch is in-line with our long-term thesis that consumers will reduce the visits to a multiplex due to the content being available on OTT," said Spark Capital Advisors (India) Pvt. Ltd’s analysts in a report on 19 August. OTT is over-the-top and refers to internet streaming media services such as Amazon Prime Video and Netflix.

Given more choices at the consumer’s disposal, it will be interesting to watch if at-home movie offerings will take a big bite from the out-of-home entertainment demand. “Theatrical and at-home are two completely different experiences and each has their own places. Both these experiences have co-existed and prospered for decades and will continue to so in future," said PVR in a statement on 13 August.

From a medium- to long-term perspective, there are potential risks, nonetheless. “With content producers deriving ~75% of their revenues from theatrical Box Office collections, we see no immediate impact to PVRL’s footfalls; however, we believe more movie producers will commence embracing the OTT format over the long term as they begin to see a value proposition emerging out of the new modus operandi," added the analysts at Spark Capital.

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The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows

The Indian rupee is trading at day's low at 71.33 per dollar, down 19 paise against previous close 71.14.

It opened marginally lower at 71.17 per dollar versus Friday's close 71.14.

The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows, said PTI. The rupee opened on a weak note and fell to a day's low of 71.47 due to gains in the dollar and crude oil in global markets, it added.

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HCL will acquire 90 acres of land to add to the existing state-of-the-art 50-acre campus in MIHAN, Nagpur

Shares of HCL Technologies gained more than 1 percent intraday on August 19 after the company signed MoU with Maharashtra Airport Development Company.

As per BSE release, HCL Technologies signed a Memorandum of Understanding for expansion of its MIHAN campus in Nagpur, in-line with HCL’s plan for Tier-II cities in the country.

As part of the MoU, HCL will acquire 90 acres of land to add to the existing state-of-the-art 50-acre campus in MIHAN, Nagpur.

HCL also announced the launch of Tech Bee – HCL’s Early Career Program – a work-integrated career program for students who have completed Class XII. After completion of the program, the students will be deployed at HCL Technologies.

Sanjay Gupta, Corporate Vice President, HCL Technologies said, “At HCL, we identify the strongest capabilities in our workforce to ensure the best result for our clients. The expansion of the HCL campus in MIHAN is aligned with our strategic vision to expand and create opportunities in the emerging cities.”

HCL Technologies was quoting at Rs 1,075.00, up to Rs 13.35, or 1.26 percent on the BSE

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The company reported a standalone net profit of Rs 25.28 crore for the quarter ended June 30, 2019, as compared to Rs 5.03 crore in the same period last year, registering a year-on-year growth of 402.58 per cent. Net revenue of the company declined moderately by 10.27 per cent at Rs 167.96 crore in the April-June quarter of this fiscal as against Rs 187.18 crore in the corresponding period last year. During the April-June quarter, operating expenses dropped by 18.45 per cent to Rs 176.03 crore from Rs 215.85 crore in the year-ago period.

Other Income grew by 19.95 per cent at Rs 51.40 crore versus (Jun'18 Rs 42.85 crore). Operating profit slipped by 71.86 per cent to Rs -8.07 crore as against Rs -28.68 crore in the year-ago period, while Operating Profit Margin (OPM) expanded year-on-year to 68.67 per cent in June quarter. Interest declined by 64.10 per cent y-o-y to Rs 0.14 crore, while Taxation increased by 486.63 per cent at Rs 10.97 crore (Jun'18 Rs 1.87 crore).

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Such sharp rallies are often a result of some pep talk or some relief measure which often fizzles out trapping the bulls who bought on the hopes that a new rally will begin

The Indian market snapped a four-week losing streak to close with gains of over 1 percent. The Nifty rose 1.02 percent while the S&P BSE Sensex closed with gains of 1.25 percent for the week ended August 9.

The S&P BSE Sensex is now back above 37,000 while the Nifty also managed to reclaim 11,100 levels for the first time since July 31.

The broader market performed in line with benchmark indices as the S&P BSE Midcap index rose 0.92 percent while the S&P BSE Smallcap index closed with gains of 1.62 percent for the week ended August 9.

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Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 21 percent YoY during June quarter, to Rs 592 crore

Shares of Tata Chemicals gained nearly 3 percent intraday on August 9 after the company reported a 19.47 percent jump in consolidated net profit at Rs 312.59 crore for the quarter ended June 2019 on the back of strong sales.

Net income of the company increased to Rs 2,984.79 crore from Rs 2,850.77 crore in the same quarter of the previous fiscal, the company said in an exchange release.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 21 percent YoY during June quarter to Rs 592 crore.

"The company has posted a healthy growth on a consolidated basis across all business segments," Tata Chemicals Managing Director R Mukundan said.

"Our investment in a bicarbonate unit in the UK using innovative carbon capture process and Mithapur plant(in Gujarat) expansion will provide significant thrust to our growth," he said, adding the company is elated to have received the environment clearance for the expansion at Mithapur plant.

The company will continue to focus on its nutritional science and material sciences business towards scale by strengthening the innovative funnel to ensure aggressive growth in the Specialty Products Business, Mukundan added.

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The top Nifty50 gainers include Indiabulls Housing Finance which zoomed 12 percent followed by Vedanta, Grasim Industries, UltraTech Cement and HDFC while the top losers are YES Bank, Coal India, Mahindra & Mahindra, Indian Oil Corporation and ITC

The benchmark indices including the Nifty and Sensex added 1 percent each. Nifty spiked 113 points to 11,145 while the Sensex rallied 371 points to 37,699.

Nifty Midcap50 Index gained over 1.5 percent led by DHFL, M&M Financial Services, PFC, Ramco Cements, Balkrishna Industries, Century Textiles, Cholamandalam Investments, Tata Chemicals and Voltas among others.

Banking stocks are also buzzing, the top gainers include RBL Bank which jumped over 7 percent followed by Federal Bank, IDFC First Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank.

The S&P BSE Capital Goods index is up over a percent, the top gainers being Suzlon Energy, Lakshmi Machine Works, BEML, GE T&D, Siemens and Sadbhav Engineering.

From the infra space, the top gainers are Bharti Infratel, Engineers India, Larsen & Toubro, IRB Infra, Reliance Infra and Vodafone Idea.

Nifty Realty gained a percent led by Indiabulls Real Estate which spiked 6 percent followed by DLF, Oberoi Realty, Prestige Estates and Godrej Properties.

India VIX is down 0.44 percent and is trading at 16.02.

The top Nifty50 gainers include Indiabulls Housing Finance which zoomed 12 percent followed by Vedanta, Grasim Industries, UltraTech Cement and HDFC while the top losers are YES Bank, Coal India, Mahindra & Mahindra, Indian Oil Corporation and ITC.

The most active stocks are Indiabulls Housing Finance, Reliance Industries, HDFC, YES Bank and HDFC Bank.

Pidilite Industries and Asian Paints have hit a new 52-week high on BSE.

147 stocks have hit a 52-week low on BSE including NBCC, Thomas Cook and PAGE Industries among others.

1250 stocks advanced and 416 declined while 418 remained unchanged on the NSE. On the BSE, 1474 stocks advanced, 595 declined and 111 remained unchanged.

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