- Market close: Benchmark indices ended higher but off day’s high in the volatile session on May 7 with Nifty finished above 11,850 level.At close, the Sensex was up 86.18 points at 39,615.90, while Nifty was up 26.90 points at 11,870.70. About 1058 shares have advanced, 1390 shares declined, and 146 shares are unchangedIndusInd Bank, Bharti Infratel, Bajaj Finance, M&M and Tech Mahindra were among major gainers on the Nifty, while losers were Dr Reddys Laboratories, Yes Bank, Power Grid Corporation, Cipla and JSW Steel.Among the sectors, except bank and IT all other indices ended in the red led by pharma, infra, metal, energy, auto and FMCG.
- Rites bags order: Under an ongoing contract, Sri Lanka Railways has given an additional export order aggregating to Rs 200 crore to the company for supply of passenger coaches
- Simplex Infrastructure sinks 18%: Shares of Simplex Infrastructure fell 18 percent as ICICI Direct maintained its reduce call on the stock, citing higher debt levels and likely muted execution in FY20.
- Ramky Infrastructure bags order: The company has been awarded project worth Rs 494.04 crores by Rajiv Gandhi Rural Housing Corporation in Bengaluru BMRDA area under 1 Lakh Multi-Storey Bengaluru Housing Programme on Turn Key basis.
ADAG Stocks under pressure: Anil Dhirubhai Ambani group stocks are trading under pressure on May 7.
Reliance Communications was quoting at Rs 1.81, down Rs 0.08, or 4.23 percent and Reliance Power was quoting at Rs 6.10, down Rs 0.48, or 7.29 percent.
Reliance Infrastructure (down 12 percent) and Reliance Capital (down 10 percent) touched a 52-week low of Rs 72.80 and Rs 98.15 respectively.
European stocks were in recovery mode on Friday after a cautious message from the European Central Bank hit investors’ appetite for risk in the previous session, with traders eyeing a US jobs report and US trade tussles with Mexico for fresh direction, reports Reuters.
- Eros International Tanks 11% After Rating DowngradeEros International Media shares fell further sharply, losing 11 percent. It was down 20 percent in previous session after rating agency CARE downgraded rating on its bank facilities.
- Crude Oil Prices RallyOil prices rose more than 1 percent, climbing further away from five-month lows hit earlier in the week after a report that Washington could postpone trade tariffs on Mexico and amid signs that OPEC and other producers may extend their supply cuts.Brent crude futures were up 96 cents, or 1.56 percent, at $62.63 a barrel by. They gained 1.7 percent on Thursday. Source: Reuters.
- Dilip Buildcon in ActionDBL Bangalore Nidagatta Highways Private Limited, wholly owned subsidiary of the company has received the appointed date i.e. May 14, 2019 by the National Highways Authority of India, Dilip Buildcon said.
- Cyient Gains on Investment in Rail Cybersecurity FirmCyient shares gained a percent intraday after company made a strategic investment in rail cybersecurity company Cylus.”This investment is in line with the company’s focus on developing smarter and safer mobility solutions for the rail industry,” the engineering and technology solutions company said in its filing.Israel-based Cylus is the developer of CylusOne, a cybersecurity software product, designed for mainline and urban rail systems. The solution detects cyber threats in the signalling and control networks, both trackside and onboard, facilitating a timely and effective response.
- Jun 07, 12:43 PM (IST) Buzzing: Linde India shares declined on June 7 after the chief financial officer resigned from his post.”The board has accepted the resignation of Indranil Bagchi as Chief Financial Officer of the company with effect from June 6 in view of the recent and ensuing organisational changes within the Linde Group resulting in change in his role and responsibilities within Linde plc,” the industrial gases company said in its filing.
Market Update: Indian indices are trading flat with Nifty hovering around 11,850.
The Sensex is up 0.25 points at 39529.97, while Nifty is up 6.50 points at 11850.30. About 948 shares have advanced, 1122 shares declined, and 113 shares are unchanged.