MARKET: Indices end flat, Sun Pharma dips 7%, GSK Consumer, HUL in focus
In sectoral indices, the Nifty Metal index ended 2 per cent higher led by a rise in Jindal Steel & Power and Vedanta
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The benchmark indices ended largely flat on Monday.
The S&P BSE Sensex ended at 36,241, up 47 points or 0.13 per cent, while the broader Nifty50 index settled at 10,884, up 7 points or 0.06 per cent.
In sectoral indices, the Nifty Metal index ended 2 per cent higher led by a rise in Jindal Steel & Power and Vedanta.
Among key stocks, shares of Sun Pharmaceutical Industries fell 7.6 per cent to end at Rs 455 per share on the BSE on reports that the market regulator, the Securities and Exchange Board of India (Sebi), has initiated an inquiry into the affairs of pharma major on the basis of a whistle-blower complaint.
Unilever - GSK in focus
The S&P BSE Sensex ended at 36,241, up 47 points or 0.13 per cent, while the broader Nifty50 index settled at 10,884, up 7 points or 0.06 per cent.
In sectoral indices, the Nifty Metal index ended 2 per cent higher led by a rise in Jindal Steel & Power and Vedanta.
Among key stocks, shares of Sun Pharmaceutical Industries fell 7.6 per cent to end at Rs 455 per share on the BSE on reports that the market regulator, the Securities and Exchange Board of India (Sebi), has initiated an inquiry into the affairs of pharma major on the basis of a whistle-blower complaint.
Unilever - GSK in focus
Shares of Hindustan Unilever (HUL) and GlaxoSmithKline Consumer Healthcare (GSKCH) moved higher on the BSE, after their respective boards approved their merger, subject to obtaining requisite approvals from statutory authorities and shareholders.
HUL settled at Rs 1835, up 4.6 per cent, while the GSKCH ended 3.6 per cent at Rs 7,531 on the BSE.
Multinational consumer goods major Unilever on Monday confirmed it was acquiring Horlicks and other health food products in an all-equity merger of Hindustan Unilever Ltd (HUL) with publicly listed GSK consumer Healthcare India.
HUL settled at Rs 1835, up 4.6 per cent, while the GSKCH ended 3.6 per cent at Rs 7,531 on the BSE.
Multinational consumer goods major Unilever on Monday confirmed it was acquiring Horlicks and other health food products in an all-equity merger of Hindustan Unilever Ltd (HUL) with publicly listed GSK consumer Healthcare India.
The merger of HUL with GSK Consumer Health will be on the basis of an exchange ratio of 4.39 HUL shares for each GSK Consumer Health share. The deal also includes the acquisition of certain other commercial operations and assets outside of India. READ MORE HERE
Global Markets
Asian shares posted their biggest monthly gain in 10 months in November on hopes US-China trade tensions would ease and on expectations of fewer US rate hikes in the coming quarters. The MSCI Asia-Pacific index gained 2.74 per cent last month, its biggest monthly gain since January. Share markets in Hong Kong, India and Indonesia led the region with gains of 6.1 per cent, 4.7 per cent and 3.9 per cent, respectively
(with Reuters input)
3:41 PM
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S&P BSE Sensex: Top gainers and losers
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Market at close
The S&P BSE Sensex gained 47 points or 0.13 per cent to settle at 36,241 while NSE's NIfty50 index ended at 10,884, up just 7 points.
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HUL hits record high, GSK Consumer gains 7% after board approves merger
Shares of Hindustan Unilever (HUL) and GlaxoSmithKline Consumer Healthcare (GSKCH) have moved higher by up to 7% on the BSE, after their respective boards approved their merger, subject to obtaining requisite approvals from statutory authorities and shareholders. HUL hit a new high of Rs 1,833, up 4.5% on the BSE, surpassing its previous high of Rs 1,808 touched on August 20, 2018, on the BSE in intra-day trade. READ MORE
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First Published: Dec 03 2018 | 8:02 AM IST