Vinati Organics hits upper circuit of 20% as Q1 profit doubles Shares of Vinati Organics are locked in upper circuit of 20% at Rs 1,188 per share, also their new high on the BSE, after the company reported a more-than-double net profit of Rs 643 million in June 2018 quarter (Q1FY19). The company, which is engaged in commodity chemicals business, had profit of Rs 311 million in the same quarter last fiscal. READ MORE RCom gets SC nod to sell assets to Jio, agrees to pay Rs 5.5 bn to Ericsson Reliance Communications Ltd (RCom) said on Monday it had received approval from the Supreme Court to proceed with the sale of its wireless assets to Reliance Jio after it agreed to pay 5.5 billion rupees ($80.06 million) to settle dues with Swedish telecom gearmaker Ericsson. READ MORE Gold extends rally from 17-month low, stronger dollar caps gains Gold prices inched higher on Monday, extending their recovery from a 17-month low, amid lingering worries over the US-China trade conflict, while a stronger US dollar capped the safe haven's gains. Spot gold was up 0.2 per cent at $1,215.71 an ounce, building on its 0.5 per cent gain on Friday. US gold futures were little changed at $1,223.7 an ounce. READ MORE Vedanta's quarterly core earnings rise; India copper output drops Miner Vedanta Resources Plc, which is set to be taken private by Chairman Anil Agarwal, reported on Monday a 26.3 percent rise in first-quarter core earnings on higher commodity prices. The London-listed company's earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $983 million, for the three months ended June 30, from $778 million a year earlier. READ MORE Multiplex companies look attractive post correction; PVR, Inox Leisure gain Multiplex operators PVR and Inox Leisure were among the top gainers in the BSE 500 index on Friday, appreciating 7-14.5 per cent. The gains came after PVR entered into a three-year deal with ticketing aggregators bookmyshow and PayTM for a convenience fee of Rs4.1 billion, most of which it will receive upfront as advance payment in FY19. READ MORE Market Check INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 37729.37 37556.16 173.21 0.46 BSE 500 15425.22 15361.14 64.08 0.42 BSE MID-CAP 16283.63 16206.89 76.74 0.47 BSE SMALL-CAP 16929.66 16833.52 96.14 0.57 S&P BSE LARGECAP 4424.31 4407.00 17.31 0.39 > More on BSE Indices
The S&P BSE Sensex settled at a record high of 37,692, up 136 points, while the broader Nifty 50 index settled at a new high of 11,387, up 26 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,805.25 while the Nifty50 index touched its record high level of 11,427.65.
Among individual stocks, Axis Bank, State Bank of India (SBI) and ICICI Bank were among the top gainers in the BSE Sensex, settling higher in a range of 3 -4 per cent. The Nifty PSU Bank index settled over 2.5% higher led by rise in Indian Bank and SBI.
Asian shares pared gains on Monday as Chinese stocks swung into negative territory, dragged lower by the escalating Sino-US trade war, though Beijing’s efforts to stop sharp declines in the yuan helped support the currency.
The monsoon is also likely to play a key role in determining the direction the markets take during the week. The IMD has already forecast that rains will be normal in August and September, boosting growth prospects of the rural economy.
(with Reuters inputs)