Equity benchmarks ended flat on Friday. The Sensex declined 11.58 points to 24673.84 while Nifty rose 8.75 points to 7555.20. The broader markets gained 0.6 percent as about 1468 shares advanced against 1052 declining shares on BSE. Lupin, M&M, NTPC and BHEL rallied 2-4 percent while TCS, Infosys, HUL, Axis Bank and Hero Motocorp lost 1-1.7 percent.
Tamil Nadu-based company has produced 9,784 tonnes of sugar in March, higher by 39.5 percent compared to 7,014 tonnes of sales in same period last year from its three units while production declined 11 percent in same period. Rajshree Sugars has three units in Coimbatore (Tamil Nadu) – Varadarajnagar (unit 1), Mundiyampakkam (unit 2) and Semmedu village (unit 3). Unit 1 sales increased sharply by 431 percent and unit 2 showed a massive 125 percent growth but sales from unit 3 dropped nearly 26 percent on year-on-year basis in March. In same period, production shot up 57 percent from unit 1 but declined 12 percent and 32 percent from unit 2 and 3, respectively.
In March, won a Rs 227 crore order for project management consultancy (PMC) taking its total order book for FY16 to Rs 18,000 crore. The company’s total order book stands at Rs 38,000 crore, said Anoop Kumar Mittal, CMD of the company. Speaking to CNBC-TV18, Mittal said that most of the projects are in re-development segment and the company plans to complete most of them by September next year. NBCC is targeting atleast 25 percent growth in first quarter of FY17, Mittal added. Speaking on the company’s recent acquisition of Hindustan Steelworks Construction, Mittal said that NBCC will take over its order book alongwith some negligible debt.
Equity Benchmarks ended sharply lower by 1 percent today, dragged by index heavyweights HDFC, Infosys, ITC and L&T. The Sensex dropped 215.21 points to 24685.42 and the Nifty fell 67.90 points to 7546.45. The market breadth also turned negative in last hour of trade as about 1448 shares declined against 1107 advancing shares on Bombay Stock Exchange. European markets were down marginally on fall in oil prices and ahead of European Central Bank meeting.
Tata Steel is planning to sell its UK arm in one go, rather than in parts. Already, three strategic buyers are said to be keenly interested in the Tata asset. Liberty House’s Sanjeev Gupta is in the fray of potential buyers. It is understood the valuation of the deal will be clear only by next week. Greybull Capital may also explore options to buy the entire plant. No formal bid, however, has been submitted yet. Talks are believed to be at an exploratory stage. Formal expressions of interest for Tata Steel’s UK biz are likely to be sent next week.
Equity benchmarks extended losses again. The Sensex plunged 238.71 points or 0.96 percent to 24661.92 and the Nifty fell 74.05 points or 0.97 percent to 7540.30.