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During the day, the BSE Small-Cap index traded on a negative note.

The index opened the day at 14,498 and closed at 14,366, registering a loss of 0.9%.

Now let us look at the top 5 most active stocks in the BSE Small-Cap index today.

Top 5 Most Active Small-Cap Stocks Today
Stock NameTraded ValueTraded VolumePrevious CloseTodays Close% Change
PC JEWELLER367,983,757.46,530,324.061.756.48.6
JET AIRWAYS157,819,187.51,942,390.092.081.311.6
JUST DIAL141,688,404.7194,107.0758.3730.03.7
SPICEJET123,236,198.3888,509.0142.3138.72.5
VISHAL FABRICS105,009,200.0320,150.0329.0328.00.3
* Latest Price as on 14 Jun 2019 04:55 PM




PC JEWELLER was the most active stock in the BSE Small-Cap index today. The stock of the company witnessed selling pressure and closed at Rs 56, down by 9%. On the valuations front, the stock trades at 712.8 times its trailing 12 months' earnings. Its price to sales ratio stands at 1.6 times, while its price to book value (P/BV) ratio stands at 4.0 times.

Following PC JEWELLER, JET AIRWAYS was the second most traded stock in the BSE Small-Cap index today. The stock of the company witnessed selling pressure and closed at Rs 81, down by 12%. On the valuations front, the stock trades at 0.2 times its trailing 12 months' earnings. Its price to sales ratio stands at 0.3 times, while its price to book value (P/BV) ratio stands at 1.0 times.

Apart from PC JEWELLER and JET AIRWAYS, JUST DIAL, SPICEJET, and VISHAL FABRICS were also among the most traded stocks in the BSE Small-Cap Index today.

For a more detailed view on the above stocks, you can check the BSE Small-Cap company results for June 2018 quarter and also visit our Indian stock market research section.

More on the BSE Small-Cap Index...

The S&P BSE Small-Cap Index ended its trading session at 14,366 (down 0.8%).

The top BSE Small-Cap gainers today were DHUNSERI VENTURES (up 8.9%) and MUKAND LIMITED (up 7.7%). On the other hand, EMAMI INFRA (down 17.2%) and KWALITY (down 13.3%) were among the top losers today.

The index was up 4.2% over the last 30 days, and over the last 1 year it has lost 15.7%.

What About the Benchmark Indices?

The BSE Sensex moved down from 39,741 to 39,452 today, registering a loss of 289 points (down 0.7%).

The most traded stocks in the BSE Sensex today were YES BANK and NTPC.

The NSE Nifty moved down from 11,914 to 11,823 today, registering a loss of 91 points (down 0.8%).

The most traded stocks in the NSE Nifty today were YES BANK and INDIABULLS HOU. FIN..



This article (Most Active Small-Cap Stocks Today; PC JEWELLER the Most Traded) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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During the day, the BSE Mid-Cap index traded on a negative note.

The index opened the day at 14,882 and closed at 14,721, registering a loss of 1.0%.

Now let us look at the stocks that have gained the most in the BSE Mid-Cap index today.

Top 5 Mid-Cap Gainers Today
Stock NamePrevious Close (Rs)Today's Close (Rs)% GainTraded Volume
IIFL HOLDINGS1591664.212,443.0
CUMMINS INDIA7457602.011,461.0
RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD2162201.9205,634.0
RAJESH EXPORTS6706791.446,745.0
WOCKHARDT3833871.0242,014.0
* Latest Price as on 14 Jun 2019 04:54 PM


IIFL HOLDINGS was the top gainer in the BSE Mid-Cap index today. The stock of the company witnessed buying interest and closed at Rs 166, up by 4.2%. The total volume of the shares traded today stands at 12,443.

Following IIFL HOLDINGS was CUMMINS INDIA, which gained around 2.0% today. The share price of CUMMINS INDIA traded at Rs 760 on the BSE and the total volume of shares traded today was 11,461.

RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD, RAJESH EXPORTS, and WOCKHARDT were also among the top 5 gainers in the BSE Mid-Cap index today. While RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD was up 1.9%, RAJESH EXPORTS and WOCKHARDT were up by 1.4% and 1.0%, respectively.

For a more detailed view on the above stocks, you can check the BSE Mid-Cap company results for March 2019 quarter and also visit our Indian stock market research section.

Top Mid-Cap Losers Today

On the other hand, the top losers in the BSE Mid-Cap index today were RELIANCE CAPITAL (down 12.1%), RELIANCE INFRA (down 6.3%) and GRUH FINANCE (down 5.1%).

For a more detailed view, you can check the latest BSE Mid-Cap stock quotes and BSE Mid-Cap long term chart.

What About the Benchmark Indices?

The BSE Sensex moved down from 39,741 to 39,452 today, registering a loss of 289 points (down 0.7%).

The most traded stocks in the BSE Sensex today were YES BANK and NTPC.

The NSE Nifty moved down from 11,914 to 11,823 today, registering a loss of 91 points (down 0.8%).

The most traded stocks in the NSE Nifty today were YES BANK and INDIABULLS HOU. FIN..



This article (Top 5 Mid-Cap Gainers Today; IIFL HOLDINGS Leads the Pack) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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JAIN IRRIGATION share price has plunged 5% and is presently trading at Rs 39.

Meanwhile, the BSE CAPITAL GOODS Index is at 19,685 (up 0.1%).

Among the top losers in the BSE CAPITAL GOODS Index today is JAIN IRRIGATION (down 5.1%).

KALPATARU POWER (up 2.0%) and ELGI EQUIPMENTS (up 1.4%) are among the top gainers today.

Over the last one year, JAIN IRRIGATION has moved down from Rs 101 to Rs 39, registering a loss of Rs 63 (down 61.8%)..

The BSE CAPITAL GOODS has moved up from 18,633 to 19,685, registering a gain of 1,052 points (up 5.6%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HAVELLS IND (up 39.4%), HONEYWELL AUTOMATION (up 37.4%) and SIEMENS (up 22.6%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.8%). The top gainers among the BSE Sensex stocks today are L&T (up 0.6%). The most traded stocks in the BSE Sensex are SUN PHARMA and L&T.

In the meantime, NSE Nifty is at 11,912 (down 0.9%). BHARTI INFRATEL (up 1.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.3%).

JAIN IRRIGATION Financial Update...

JAIN IRRIGATION net profit down at Rs 555 million for the quarter ended March 2019, compared to a loss of Rs 911 million a year ago. Net Sales rose 26.8% to Rs 25.8 billion during the period as against Rs 20.4 billion in January-March 2018.

For the year ended March 2018, JAIN IRRIGATION reported 25.6% increase in net profit to Rs 2.2 billion compared to net profit of Rs 1.8 billion during FY17.

Revenue of the company grew 15.3% to Rs 80 billion during FY18.

The current Price to earnings ratio of JAIN IRRIGATION, based on rolling 12 month earnings, stands at 7.2x.

This article (JAIN IRRIGATION Plunges by 5%; BSE CAPITAL GOODS Index Up 0.1%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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PC JEWELLER share price has plunged 5% and is presently trading at Rs 66.

Meanwhile, the BSE 500 Index is at 15,446 (down 0.9%).

Among the top losers in the BSE 500 Index today are PC JEWELLER (down 5.4%) and DCM SHRIRAM (down 5.7%).

G.E.SHIPPING (up 4.4%) and HIMATSINGKA SEIDE (up 4.2%) are among the top gainers today.

Over the last one year, PC JEWELLER has moved down from Rs 157 to Rs 66, registering a loss of Rs 90 (down 57.6%)..

The BSE 500 has moved up from 14,878 to 15,446, registering a gain of 568 points (up 3.8%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI POWER (up 151.3%), VINATI ORGANICS (up 99.9%) and BATA INDIA (up 84.4%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.9%). The top gainers among the BSE Sensex stocks today are L&T (up 0.6%). The most traded stocks in the BSE Sensex are SUN PHARMA and L&T.

In the meantime, NSE Nifty is at 11,912 (down 0.8%). BHARTI INFRATEL (up 1.4%) and SUN PHARMA (up 0.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.2%).

PC JEWELLER Financial Update...

PC JEWELLER net profit down at Rs 4 billion for the quarter ended March 2019, compared to a loss of Rs 1 billion a year ago. Net Sales rose 3.4% to Rs 21.9 billion during the period as against Rs 21.2 billion in January-March 2018.

For the year ended March 2018, PC JEWELLER reported 27.2% increase in net profit to Rs 5.4 billion compared to net profit of Rs 4.2 billion during FY17.

Revenue of the company grew 13.4% to Rs 96 billion during FY18.

The current Price to earnings ratio of PC JEWELLER, based on rolling 12 month earnings, stands at down 813.1x.

This article (PC JEWELLER Plunges by 5%; BSE 500 Index Down 0.9%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SUZLON ENERGY share price has plunged 6% and is presently trading at Rs 4.

Meanwhile, the BSE OIL & GAS Index is at 15,151 (down 0.6%).

Among the top losers in the BSE OIL & GAS Index today is SUZLON ENERGY (down 6.2%).

GAIL (up 0.1%) is among the top gainer today.

Over the last one year, SUZLON ENERGY has moved down from Rs 8 to Rs 4, registering a loss of Rs 4 (down 46.4%)..

The BSE OIL & GAS has moved up from 14,656 to 15,151, registering a gain of 495 points (up 3.4%) during the last 12 months.

The top gainers among the BSE OIL & GAS Index stocks during this same period were RELIANCE IND. (up 31.3%), INDRAPRASTHA GAS (up 25.1%) and PETRONET LNG (up 8.0%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.9%). The top gainers among the BSE Sensex stocks today are VEDANTA LTD (up 0.7%). The most traded stocks in the BSE Sensex are SUN PHARMA and L&T.

In the meantime, NSE Nifty is at 11,912 (down 0.9%). BHARTI INFRATEL (up 1.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.2%).

SUZLON ENERGY Financial Update...

SUZLON ENERGY net profit down at Rs 3 billion for the quarter ended March 2019, compared to a loss of Rs 386 million a year ago. Net Sales rose 31.7% to Rs 14.4 billion during the period as against Rs 11.0 billion in January-March 2018.

For the year ended March 2018, SUZLON ENERGY reported 193.2% decrease in net profit to Rs 8.4 billion compared to net profit of Rs 9.0 billion during FY17.

Revenue of the company grew 34.7% to Rs 83 billion during FY18.

The current Price to earnings ratio of SUZLON ENERGY, based on rolling 12 month earnings, stands at down 1.3x.

This article (SUZLON ENERGY Plunges by 6%; BSE OIL & GAS Index Down 0.6%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Posted by Equitymaster
      

Indian share markets fell sharply during closing hours. Barring capital goods sector, all sectoral indices ended on a negative note with realty stocks, telecom stocks, and banking stocks losing the most.

At the closing bell, the BSE Sensex stood lower by 289 points (down 0.7%) and the NSE Nifty closed down by 91 points (down 0.8%). The BSE Mid Cap index closed lower by 1% and the BSE Small Cap index ended the day down by 0.8%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng was down 0.7% and the Nikkei was up by 0.4%. The Shanghai Composite stood lower by 1%.

In the news from the pharma space, Aurobindo Pharma share price was in focus today. The stock of the company witnessed selling pressure today after USFDA pointed out data integrity lapses at the company's finished dosages plant at Bachupally in Telangana.

The FDA issued Form 483 with 10 observations to Aurobindo Pharma on the plant which was audited by the US drug regulator between May 13 and May 24.

The USFDA said that laboratory records do not include complete data derived from all tests, examinations and assay necessary to assure compliance with established specifications and standards.

From the aviation space, Jet Airways share price hit its all-time low level today after reports showed that Directorate General of Civil Aviation (DGCA) has cancelled critical authorisations to Jet Airways' engineering department.

As per the news, it was stated that India's aviation regulator has cancelled critical authorisations to Jet Airways' engineering department, rendering the grounded airline defunct and unable to carry out any maintenance work on aircraft.

The action taken by the DGCA will impact the airline's most critical assets, its planes, which are in constant need of maintenance and preservation even as they are grounded.

The airlines stock also witnessed sharp selling yesterday and fell over 20% after stock exchanges decided to impose trading restrictions on the debt-laden airline.

According to a circular issued by NSE, the decision was taken as a part of preventive surveillance measures to curb excessive volatility. The decision would be effective from 28 June.

The stock exchange notified that the shares of the airline will be shifted from rolling segment to trade for trade segment, wherein the settlement in the scrip will take place on gross basis with 100% upfront margin and 5% price band.

Trading in the futures and options (F&O) segment of the exchanges will also be removed. The exchanges also cited the company's failure to submit financial results for the year ended 31 March, as well as observations made by its auditor, as reasons for its decision.

Note that several people from the top management have left the airline company in the past few months. Lenders to the cash-strapped airline, led by the State Bank of India (SBI), are seeking investors to recover their dues.

The airline's total liability, including unpaid salaries and vendor dues, is nearly Rs 150 billion. In any case, if Jet Airways is admitted to the National Company Law Tribunal, under bankruptcy resolution lenders may recover only a fraction of the Rs 84 billion the airline owes them.

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments form this space.

In the news from the macroeconomic space, India's wholesale price-based inflation (WPI) slipped to 22-month low at 2.45% in May.

The fall here was helped by lower prices for food articles, and fuel and power items.

Inflation in food articles basket was 6.99%, down from 7.37% in April. However, onion prices spiked during the month with inflation at 15.89%, as against -3.43% in April. Vegetables inflation eased to 33.15% in May. This was down from 40.65% in the previous month. Inflation in potato was -23.36%, against -17.15% in April.

Inflation in 'fuel and power' category cooled to 0.98%, from 3.84% last month. Manufactured items too saw decline in prices with inflation at 1.28% in May, against 1.72% in April.

The WPI inflation in May is the lowest in 22 months, since July 2017, when it was at 1.88%.

It was at 3.07% in April and 4.78% in May 2018.

Earlier this week, government data showed retail inflation touching a seven-month high of 3.05% in May 2019.

Higher vegetable and food prices led to the fourth consecutive monthly increase in retail inflation, which is calculated on the basis of Consumer Price Index (CPI).

As per the data released by Central Statistics Office (CSO), inflation in the food basket increased to 1.83% in May. The same was recorded at 1.1% in April.

The retail inflation in April 2019 was revised upwards to 2.99% from the earlier 2.92%. The retail inflation level during the May 2018 was recorded at 4.87%.

The Reserve Bank of India has set the targets of 4% for the inflation rate.

The Monetary Policy Committee (MPC) under the central bank factors in CPI-based retail inflation while finalising its monetary policy.

From the NBFC sector, market participants were also tracking Gruh Finance share price. Stock of the company witnessed selling pressure today after the promoter Housing Development Finance Corporation (HDFC) sold more than 4% of the company's paid-up capital in the open market.

Earlier, on May 25, the housing finance company had sold 32.6 million equity shares, representing 4.4% of the paid-up capital of Gruh Finance at price of Rs 310 per share.

While on March 28, HDFC had sold 12.2 million shares of Gruh Finance at a price of Rs 260 per share.

Reportedly, HDFC being a shareholder of Gruh Finance is entitled to 14.96% of post-amalgamation paid-up capital of Bandhan Bank, based on the share exchange ratio.

However, the Reserve Bank of India (RBI) has directed the Corporation to hold 9.9% or less of the paid-up capital of Bandhan, post the merger.

In view of this, HDFC is required to sell such number of shares in Gruh Finance so as to be entitled to 9.9% of the post amalgamation paid up capital of Bandhan.

Speaking of non-banking financial companies (NBFCs), note that NBFCs were flush with funds from banks, insurance companies, and asset management companies i.e. mutual funds in 2016.

You can see this clear as day in the chart below...

One Chart that Predicted the NBFC and Mutual Fund Crisis Back in 2016

And with these funds and without the necessary restrictions, NBFCs become reckless in deploying the funds.

Here's what Tanushree Banerjee wrote about this in today's edition of The 5 Minute WrapUp...

  • Let's look back at 2016...

    Banks, mutual funds, and insurance companies were competing with each other to lend to NBFCs.

    And why not?

    Not only were the fast growing NBFCs hungry for funds, they also offered attractive yields.

    The NBFCs took more risk than banks by lending without collaterals. But they charged higher interest rates; which meant their margins remained far higher than that of banks.

    It's no wonder the NBFCs caught everyone's fancy. In fact, between 2013 and 2016, the top NBFCs saw their valuation multiples move up three to eight times.

As per Tanushree, the problem in the NBFC sector is far from over. But she believes the good quality NBFCs, and housing finance companies will continue to flourish and you can make the most of the opportunity by buying the safest NBFCs.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.



This article (Sensex Ends 289 Points Lower; Realty and Banking Stocks Witness Selling) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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SHEELA FOAM LTD share price has zoomed 6% and is presently trading at Rs 1,353.

Meanwhile, the BSE FMCG Index is at 11,651 (down 0.6%).

Among the top Gainers in the BSE FMCG Index today is SHEELA FOAM LTD (up 6.3%).

P&G HYGIENE (down 0.1%) and BRITANNIA (down 0.2%) are among the top losers today.

Over the last one year, SHEELA FOAM LTD has moved down from Rs 1,504 to Rs 1,353, registering a loss of Rs 151 (down 10.0%).

On the other hand, the BSE FMCG has moved up from 11,280 to 11,651, registering a gain of 371 points (up 2.5%) during the last 12 months.

The top gainers among the BSE FMCG Index stocks during this same period were GSK CONSUMER (up 23.2%), GODFREY PHILLIPS (up 20.5%) and NESTLE (up 17.6%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.5%).

The top gainers among the BSE Sensex stocks today are VEDANTA LTD (up 1.2%), ONGC (up 0.6%) and L&T (up 0.6%). Other gainers include TATA STEEL (up 0.5%) and COAL INDIA (up 0.4%). The most traded stocks in the BSE Sensex are YES BANK and L&T.

In the meantime, NSE Nifty is at 11,912 (down 0.5%). BHARTI INFRATEL (up 1.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.7%).



This article (SHEELA FOAM LTD Surges by 6%; BSE FMCG Index Down 0.6%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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DCM SHRIRAM share price has plunged 6% and is presently trading at Rs 543.

Meanwhile, the BSE 500 Index is at 15,446 (down 0.5%).

Among the top losers in the BSE 500 Index today are DCM SHRIRAM (down 6.1%) and ZEE ENTERTAINMENT (down 5.8%).

HIMATSINGKA SEIDE (up 5.9%) and THE NEW INDIA ASSURANCE (up 3.0%) are among the top gainers today.

Over the last one year, DCM SHRIRAM has moved up from Rs 293 to Rs 543, registering a gain of Rs 250 (up 85.2%)..

The BSE 500 has moved up from 14,878 to 15,446, registering a gain of 568 points (up 3.8%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI POWER (up 154.7%), VINATI ORGANICS (up 101.3%) and BATA INDIA (up 84.8%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.5%). The top gainers among the BSE Sensex stocks today are VEDANTA LTD (up 0.8%). The most traded stocks in the BSE Sensex are YES BANK and L&T.

In the meantime, NSE Nifty is at 11,912 (down 0.6%). BHARTI INFRATEL (up 1.5%) and L&T (up 0.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.7%).

DCM SHRIRAM Financial Update...

DCM SHRIRAM net profit stood at Rs 3 billion for the quarter ended March 2019, compared to a profit of Rs 2 billion a year ago. Net Sales declined 10.7% to Rs 18.9 billion during the period as against Rs 21.2 billion in January-March 2018.

For the year ended March 2018, DCM SHRIRAM reported 21.1% increase in net profit to Rs 6.7 billion compared to net profit of Rs 5.5 billion during FY17.

Revenue of the company grew 14.5% to Rs 70 billion during FY18.

The current Price to earnings ratio of DCM SHRIRAM, based on rolling 12 month earnings, stands at 9.4x.

This article (DCM SHRIRAM Plunges by 6%; BSE 500 Index Down 0.5%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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KIOCL share price has plunged 5% and is presently trading at Rs 123.

Meanwhile, the BSE METAL Index is at 11,076 (up 0.3%).

Among the top losers in the BSE METAL Index today is KIOCL (down 5.3%).

NMDC LTD (up 2.1%) and TATA STEEL (up 0.7%) are among the top gainers today.

Over the last one year, KIOCL has moved down from Rs 203 to Rs 123, registering a loss of Rs 80 (down 39.2%)..

The BSE METAL has moved down from 13,676 to 11,076, loss of 2,600 points (down 19.0%) during the last 12 months.

The top gainers among the BSE METAL Index stocks during this same period were [param_historic_top3].

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.4%). The top gainers among the BSE Sensex stocks today are L&T (up 0.8%). The most traded stocks in the BSE Sensex are L&T and POWER GRID.

In the meantime, NSE Nifty is at 11,912 (down 0.4%). INDIABULLS HOU. FIN. (up 1.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.8%).



This article (KIOCL Plunges by 5%; BSE METAL Index Up 0.3%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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Stock markets in India are presently trading on a negative note. The BSE Sensex is trading down by 291 points and the NSE Nifty is trading down by 68 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.5% and 0.3% respectively.

Among the sectoral indices, healthcare stocks, telecom and realty stocks are witnessing maximum selling pressure. Capital goods and power stocks are trading in green.

In the news from the NBFC sector. Gruh Finance share price slipped 8% on the BSE in early morning trade after the promoter Housing Development Finance Corporation (HDFC) sold more than 4% of the company's paid-up capital in the open market.

Earlier, on May 25, the housing finance company had sold 32.6 million equity shares, representing 4.4% of the paid-up capital of Gruh Finance at price of Rs 310 per share.

While on March 28, HDFC had sold 12.2 million shares of Gruh Finance at a price of Rs 260 per share.

Reportedly, HDFC being a shareholder of Gruh Finance is entitled to 14.96% of post-amalgamation paid-up capital of Bandhan Bank, based on the share exchange ratio.

However, the Reserve Bank of India (RBI) has directed the Corporation to hold 9.9% or less of the paid-up capital of Bandhan, post the merger.

In view of this, HDFC is required to sell such number of shares in Gruh Finance so as to be entitled to 9.9% of the post amalgamation paid up capital of Bandhan.

Moving on to the news from the pharma sector. Dr. Reddy's Laboratories has entered into a definitive asset purchase agreement with Upsher-Smith Laboratories, LLC (Upsher-Smith).

As per the scheme, the company would sell its US and select territory rights for Zembrace Symtouch (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg, (formerly referred to as 'DFN-02'), which are commercialized through its wholly owned subsidiary, Promius Pharma, LLC.

Under the agreement, the company will receive US$70 million as upfront consideration, US$40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory.

Subsequently, the company will receive sales-based royalties on a quarterly basis, the reports noted.

To know more about the company, you can access to Dr. Reddy's Q3FY19 result analysis and Dr. Reddy's Stock Analysis on our website.

At the time of writing, Dr. Reddy's Lab share price was trading down by 0.7%.

Here's an interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Profit Opportunities in the Rebirth of India

Co-head of Research, Tanushree Banerjee believes, the opportunities in the Rebirth of India are not only more profitable than the ones in 1991 but the gains could come faster too.

Tanushree has explained this historic opportunity in detail at the Rebirth of India summit

To know what's moving the Indian stock markets today, check out the most recent share market updates here.



This article (Sensex Trades Lower; Gruh Finance Slips on Block Deal) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.
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