10:45am ICICI Bank quotes ex-split
ICICI Bank gained 1 percent after its sub division of shares.
India's largest private sector lender, on September 9, had decided to split its
shares, for the first time in history, from one share into five shares.
The bank fixed record date as December 05, 2014 for the purpose of
ascertaining the eligible shareholders who would be entitled to receive five
equity shares of nominal value of Rs 2 each in lieu of one equity share of
nominal value of Rs 10 each of the bank.
Further the bank said each American Depositary Share (ADS) of ICICI Bank
will continue to represent two underlying equity shares as at present. The
number of ADSs held by an American Depositary Receipt holder would consequently
increase in proportion to the increase in number of equity shares, it added.
10:30am Sadbhav in News
Shares of Sadbhav Engineering hit record high at Rs 284.75 apiece, up
7.5 percent intraday after its arm has draft papers with Securities and
Exchange Board of India (SEBI) for an initial public offering (IPO). The stock
gained 4 percent now.
The subsidiary of Sadbhav Engineering, Sadbhav Infrastructure Projects
is planning raise up to Rs 600 crore through the IPO.
“The issue consists of a fresh issue of equity shares of Rs 10 each
aggregating up to Rs 6,000 million and an offer for sale of up to 16,178,811
equity shares by Xander Investment Holding XVII Ltd and up to 16,178,811 equity
shares by Norwest Venture Partners VII-A—Mauritius,” the company said.
10:15am FII View
Bhuvnesh Singh, Barclays says Indian equities have historically reacted
positively to declines in crude prices.
"In our analysis of the 11 instances of substantial declines in crude
prices, we found that Indian equities outperformed the MSCI Asia ex-Japan Index
in 9 out of the 11 instances. Some stocks have tended to do well in past
instances of crude price declines," he elaborated.
Among the large-cap stocks, consumer staples, oil marketing, consumer
discretionary and stocks of companies with high logistic costs have been the
key gainers in the past. Steel companies' stocks have been among the major
underperformers, he added.
10:00am Market Check
The 30-share BSE Sensex shed nearly 300 points from day's high weighed down
by capital goods, power and select banking & financials stocks. However,
ITC, ICICI Bank, HDFC Bank and ONGC kept the market in positive terrain.
The Sensex rose 85.04 points to 28527.75 and the Nifty advanced 3.10 points
to 8540.75. About 1194 shares have advanced, 950 shares declined, and 93 shares
are unchanged.
Shares of Axis Bank, HDFC, Infosys, State Bank of India, Bharti Airtel,
Larsen & Toubro, M&M, Sun Pharma and BHEL declined 0.3-1.3 percent.
However, ITC maintained its uptrend, up 4 percent as sources told CNBC-TV18
that the government is unlikely to ban sale of loose cigarette in near term.
Cipla rallied nearly 3 percent followed by HDFC Bank, ONGC, TCS, ICICI Bank
and HUL with 0.3-0.7 percent gain. More information please visit this site www.bigprofitbuzz.com
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