Tuesday, 29 November 2016

Best Advisory Company News Sensex & Nifty Rises

Sensex rises over 200 pts, Nifty eyes 8200; Midcap outperforms

Best Advisory Company | Equity Market Tips

Equity benchmarks retained early gains with the Nifty holding 8150 level, supported by banking & financials, auto, infra, oil and metals stocks. However, healthcare stocks were under pressure.

Best Advisory Company
Best Advisory Company
Poll : Tata Power, one of the largest power generation companies in the private sector, is expected to report a 39 percent growth in profit at Rs 344 crore, according to average of estimates of analysts polled by CNBC-TV18. The low base is likely to support bottomline.
Year-ago quarter numbers are likely to change due to new accounting standards.
Revenue is seen falling 19 percent year-on-year to Rs 7,729 crore while EBITDA (earnings before interest, tax, depreciation and amortisation) may slip 25 percent to Rs 1,862 crore and margin may contract 180 basis points to 24 percent in Q2.

Rupee higher : The Indian rupee recovered further against the US dollar, rising 13 paise to 68.62 from previous settlement.
 FIIs net sold Rs 16,793.36 crore worth of equity shares in November so far (till November 28), which is the highest selling since August 2015, when they had sold Rs 17,248.65 crore worth of shares.
Market Update: Equity benchmarks extended rally in morning trade with the Sensex rising 220.86 points to 26571.03 and the Nifty climbing 67.60 points to 8194.50.
 About 1620 shares advanced against 448 declining shares on the BSE.

IPO : Sheela Foam, the maker of Sleepwell brand of mattresses, has received Rs 153 crore through anchor investors' portion on Monday.
 The company has allotted 20,95,889 equity shares at Rs 730 per share to 14 anchor investors.
Anchor investors included leading international & domestic investors namely Fidelity, Goldman Sachs, East Spring, HDFC MF, SBI MF, ICICI Prudential AMC, Premji Investment, IDFC MF and Sundaram MF.
 "In spite of challenging market environment, due to the on-going demonetisation scenario, the company saw spectacular response from anchor investors, who bade for more than 10-times the number of shares from the anchor book," the company said.
The Rs 510-crore public has opened for subscription today and will close on December 1. The price band for the issue is at Rs 680-730 a share.
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