Friday, 13 May 2016

Sensex, Nifty slip 0.8%, Adani Ports, Asian Piants outperfom


Adani Ports, Asian Paints and Tata Motors were gainers while Bharti Airtel, HUL, Dr Reddy's, L&T and ICICI Bank are losers in the Sensex.

11:30 am Big fall: Shares of Eicher Motors tanked 5 percent intraday on Friday after promoters have sold stake in the company. Promoter group has sold 4.2 percent stake in the company for Rs 2100 crore. The company says that the sale has been done to provide liquidity to the promoters, and the proceeds will be utilised for personal uses, such as portfolio and other investments, and for charitable purposes.

Following the sale, the promoter group will continue to hold 50.67 percent  stake in the company. “The promoters intend to maintain a majority share in EML, and do not plan to sell any further shares in the fore-seeable future,” a company statement said.

Part of the promoter group who sold stake (1,140,846 equity shares) are Anita Lal, Rukmani Joshi and The Eicher Goodearth Trust.

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Selling pressure continues on Dalal Street as the Nifty struggles below 7850. The 50-share index is down 64.30 points or 0.8 percent at 7836.10. The Sensex is down 227.96 points or 0.9 percent at 25562.26.

Adani Ports, Asian Paints and Tata Motors were gainers while Bharti Airtel, HUL, Dr Reddy's, L&T and ICICI Bank are losers in the Sensex.

Meanwhile, US index provider MSCI announced changes to a number of its index funds on Thursday, including adding four securities and removing one from its US large-cap index.

The index provider serves 97 of the top 100 largest asset managers, according to its client research from June 2015 and P&I data as of December 2014.




1 comment:

Stock Tips Guru said...

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