Opening Bell: On Monday morning, the Indian benchmark indices began the day flatly. The BSE Sensex increased 44 points to 79,077, while the Nifty50 index increased by just 0.04 percent to 24,019 points.
On the Sensex, Maruti, JSW Steel, Bharti Airtel, Tata Steel, Ultratech Cement, Nestle India, and Mahindra & Mahindra were trading marginally higher, while the biggest losers were Kotak Bank, Asian Paints, Titan, Powergrid, and NTPC.
On the Nifty 50, Apollo Hospitals, L&T, and HDFC Life led the losses, while Bajaj Auto and Hero MotoCorp were among the top five leaders.
This morning, larger indices outperformed benchmarks; the SmallCap index increased by more than 0.69 percent, while the MidCap index increased by 0.25 percent.
The indices with the most sectoral increases were Nifty Media, Nifty Consumer Durables, Nifty Metal, Nifty Pharma, and NIfty IT. Conversely, among others, Nifty PSU Bank and Nifty Realty were trading in the red.
Stocks to keep an eye on:
Godrej Properties: An 11-acre plot of land in Pune has been leased to Godrej Properties. With 2.2 million square feet of development potential, this land may generate an estimated Rs 1,800 crore in revenue.
Zydus Lifesciences: In order to co-market the biosimilar Pertuzumab in India, Zydus Lifesciences and Dr. Reddy’s Laboratories have reached a licencing arrangement. For individuals with HER2 positive breast cancer, pertuzumab is an essential treatment.
JSW Energy: SJVN has given a letter of award to JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, for 300 MW of wind-solar hybrid power projects. This project is a part of the Hybrid-2 initiative set up to generate 1,500 MW of coupled wind-solar hybrid power using ISTS.
Bank of Baroda: The Income Tax Department has sent Bank of Baroda a demand order for Rs 1,067.82 crore pertaining to Assessment Year 2017–18.