Market Negative But Indiabulls Real Estate Rallied 42% Up

Market Negative But Indiabulls Real Estate Rallied 42% Up

Share Market News 16 June

Stock Market News - 17th April 2017

Today's market opened positive but ended negatively despite good WPI numbers. Sensex lost 47.79 points to 29413.66, Nifty lost 11.50 points to 9139.30

Top Gainers

GAIL by 4.37% to 396.30, Grasim by 2.31% to 1074.90, Reliance by 1.95% to 1391.45, Indiabulls housing finance by 1.72% to 973.25 and Powergrid 1.10% to 202.20.

Top Losers

Infratel by 3.22% to 343.60, NTPC by 3.01% to 159.70, Bosh ltd by 2.64% to 22657.75, Sun pharma by 2.49% to 675.50 and Coal india by 1.94% to 285.40

Key Market Drivers

Inflation based on the wholesale price index dropped to 5.70% in March as manufactured goods showed cost slump even as food prices hardened. The WPI inflation, reflecting the annual rate of price rise, in February, was 6.55%.

Shares of Indiabulls Real Estate surged over 42 percent intraday on Monday as investors placed positive bets following the company's announcement of a restructuring exercise.The company further outlined that it may consider REIT listing in India and was looking at statutory changes for the same.

Starting the divestment process for the current financial year, the government has cleared the sale of stakes in multiple state-owned companies. It will be selling 15 percent in NLC India, 10 percent stake each in PFC, SAIL, NTPC & NHPC, 5 percent in REC, and 3 percent in IOC via offer for sale.

Share Market Tips:

Stock to Watch: TCS is on the upside while REC is on the downside.

Stock View:

TCS is currently trading at Rs.2,326.00, up by Rs.11.15 or 0.49% from its previous closing of Rs.2314.85 on the NSE

The scrip opened at Rs.2325.00 and has touched a high and low of Rs.2331.65 and Rs.2318.80 respectively. So far 2781 (NSE) shares were traded on the counter. The current market cap of the company is Rs.458,321.54 Crores.

The BSE/NSE group stock has touched a 52 week high of Rs.2744.80 on 17-April-2017 and a 52 week low of Rs.2051.90 on 17-April-2017.

REC is currently trading at Rs.201.80, down by Rs.0.95 or 0.47% from its previous closing of Rs.201.5 (BSE), 201.4 (NSE)

The scrip opened at Rs.201.80 and has touched a high and low of Rs.204.65 and Rs.200.50 respectively. So far 2,960 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs.39,646.48

The BSE/NSE group stock has touched a 52 week high of Rs.216.25 on 17-April-2017 and a 52 week low of Rs.76.40 on 17-April-2017.

 

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Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

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