11:50 am: Powersoft Global Solutions Ltd has won an order of US$ 1.8 million to supply proprietary radio frequency identification (RFID) technology and integration services to a leading Chinese lingerie fashion house. The Chinese company intends to equip its locations worldwide with the complete supply chain solution from Powersoft, if this first implementation goes well. On BSE, Powersoft shares shot up 7.41% to Rs 26.80.
11:34 am: Lanco Infratech Ltd subsidiary Lanco Vidarbha Thermal Power Ltd, which is developing 1320 MW (2x660) thermal power project in Maharashtra based on Super Critical Technology, has received sanctions for the total debt requirement of the project. The project, estimated to cost Rs.6,936 crores, would be financed with debt of Rs.5,549 crores and equity of Rs.1,387 crores. A consortium of sixteen banks and financial institutions, with Punjab National Bank in the Lead, has agreed to provide the debt required for the project. On NSE, Lanco Infra shares were up 0.64% at Rs 71.05.
11:05 am: Development Credit Bank has revised its Base Rate to 8.25% per annum from the earlier Base Rate of 7.75% p.a. The new Base Rate will be applicable for new loans and renewals with effect from October 5. On NSE, DCB shares were higher by 3.90% at Rs 61.35.
10:35 am: Transport Corporation of India Ltd informs that the High Court of Andhra Pradesh, Hyderabad, has approved the scheme of demerger of Real Estate & Warehousing division into TCI Developers Ltd. The company is taking steps to fix Record Date to decide entitlement of the shareholders for shares in TCI Developers in the ratio as per the scheme of arrangement. On NSE, TCI shares were higher by 3.89% at Rs 146.80.
10:00 am: IIFL is of the view that Peninsula Land has given a breakout from falling resistance line after price close above Rs 67 with three fold increase in volumes. It has advised traders to buy the stock for target of Rs 74. “Peninsula Land has given a breakout from falling resistance line after price close above Rs 67 with three-fold increase in volumes. However, analysing the long term chart, the stock has multiple peak resistance in the range of Rs 73-74 which needs to be taken out in order to move up smoothly. On the oscillator front, positive crossover is seen RSI providing better risk reward ratio after prices closed above the Rs 67. We advise buying the stock above Rs 69 with stop-loss of Rs 66.50 for an initial target of Rs 74,” the report said. On NSE, Peninsula shares were weaker by 0.65% at Rs 68.65.
9:48 am: Elgi Equipments Ltd informs that the High Court of Madras has passed an order for the merger of Elgi Equipments and Elgi Industrial Products Ltd as per the scheme of amalgamation. The company has also filed Form 21 with ROC, Coimbatore. As per the Scheme of Amalgamation, the company will allot 7,62,600 equity shares Re.1 each to the shareholders of Elgi Industrial Products. On NSE, shares of Elgi Equipments were up 0.13% at Rs 152.
11:34 am: Lanco Infratech Ltd subsidiary Lanco Vidarbha Thermal Power Ltd, which is developing 1320 MW (2x660) thermal power project in Maharashtra based on Super Critical Technology, has received sanctions for the total debt requirement of the project. The project, estimated to cost Rs.6,936 crores, would be financed with debt of Rs.5,549 crores and equity of Rs.1,387 crores. A consortium of sixteen banks and financial institutions, with Punjab National Bank in the Lead, has agreed to provide the debt required for the project. On NSE, Lanco Infra shares were up 0.64% at Rs 71.05.
11:05 am: Development Credit Bank has revised its Base Rate to 8.25% per annum from the earlier Base Rate of 7.75% p.a. The new Base Rate will be applicable for new loans and renewals with effect from October 5. On NSE, DCB shares were higher by 3.90% at Rs 61.35.
10:35 am: Transport Corporation of India Ltd informs that the High Court of Andhra Pradesh, Hyderabad, has approved the scheme of demerger of Real Estate & Warehousing division into TCI Developers Ltd. The company is taking steps to fix Record Date to decide entitlement of the shareholders for shares in TCI Developers in the ratio as per the scheme of arrangement. On NSE, TCI shares were higher by 3.89% at Rs 146.80.
10:00 am: IIFL is of the view that Peninsula Land has given a breakout from falling resistance line after price close above Rs 67 with three fold increase in volumes. It has advised traders to buy the stock for target of Rs 74. “Peninsula Land has given a breakout from falling resistance line after price close above Rs 67 with three-fold increase in volumes. However, analysing the long term chart, the stock has multiple peak resistance in the range of Rs 73-74 which needs to be taken out in order to move up smoothly. On the oscillator front, positive crossover is seen RSI providing better risk reward ratio after prices closed above the Rs 67. We advise buying the stock above Rs 69 with stop-loss of Rs 66.50 for an initial target of Rs 74,” the report said. On NSE, Peninsula shares were weaker by 0.65% at Rs 68.65.
9:48 am: Elgi Equipments Ltd informs that the High Court of Madras has passed an order for the merger of Elgi Equipments and Elgi Industrial Products Ltd as per the scheme of amalgamation. The company has also filed Form 21 with ROC, Coimbatore. As per the Scheme of Amalgamation, the company will allot 7,62,600 equity shares Re.1 each to the shareholders of Elgi Industrial Products. On NSE, shares of Elgi Equipments were up 0.13% at Rs 152.
9:40 am: “Today, the Indian markets could open on a flat note and then could make an attempt to inch up later during the day. Immediate support for Nifty is at 6100-6150, while the resistance is at 6200. Among the indices, Banks and Healthcare are looking good and could outperform. However, FMCG and Auto indices are looking weak,” said HDFC Securities in its morning note.
9:23 am: Gainers among the Sensex constituents included Cipla (1.01%), ACC (0.97%), Tata Power (0.73%), Infosys Technologies (0.70%), Larsen & Toubro (0.70%), Tata Steel (0.65%), Mahindra & Mahindra (0.63%), Jindal Steel (0.57%), BHEL (0.47%), Reliance Communications (0.44%), Jaiprakash Associates (0.36%).
9:20 am: Sensex losers were Hindustan Unilever (-0.99%), HDFC (-0.76%), ICICI Bank (-0.76%), Reliance Industries (-0.51%), Bharti Airtel (-0.40%), Wipro (-0.40%), DLF (-0.27%), NTPC (-0.23%), ITC (-0.20%) and ONGC (-0.19%).
9:05 am: Sensex was at 20,446.77, down 28.96 points or 0.14%. The BSE sensitive index opened at 20,461.98 against Monday’s close of 20,475.73. The 30-share index moved between 20,482.17 and 20,407.94.
9:04 am: Nifty traded 5 points or 0.08% lower at 6154.45. The NSE benchmark opened the day flat at 6159.45. The 50-share index saw a high of 6160.95 versus a low of 6118.05 in the early minutes.
9:00 am: Indian markets started Tuesday’s session on a subdued note, in line with weakness in Asian peers. But the losses were marginal and consigned to the oil & gas and banking stocks.
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