Indices at 10:00 am
Nifty50 13,990 ▲ 8 (0.0%)
Sensex 47,783 ▲ 37 (+0.0%)
Nifty Bank 31,351 ▲ 48 (+0.1%)
In the news
Union Bank to raise ₹6,800 crore
- The state-owned bank has received a nod from shareholders to raise up to ₹6,800 crore in equity capital to fund business growth.
- The bank plans to raise the capital in the current fiscal. It is expected that PSU banks would raise ₹25,000 crore over the next three months to support credit growth. Shares of Union Bank were trading 0.4% higher today.
Government approves export of Akash missile
- To achieve the defense export target of $5 billion, the government has approved the export of the made-in-India Akash missile.
- Suppliers of propellants to such missiles such as Premier Explosives saw an uptick of 7.4% in its share price yesterday. Meanwhile, Solar Industries, the explosives maker, was trading flat.
Duty on clear float glass likely
- To create a level playing field, India could impose a countervailing duty on the imports of clear float glass from Malaysia. This glass is used in the construction, refrigeration, mirror and solar energy industries, among others.
- Shares of glassmakers such as Asahi India and Saint Gobain saw strong buying action yesterday and rose 3-5% coupled with high volumes.
Nesco to revamp exhibition centre
- The owner and operator of the Bombay Exhibition Centre, Nesco Ltd. plans to modernise and expand its exhibition facility in Mumbai with an investment of ₹325 crore, reports suggest.
- The company which hosts several national and international exhibitions has a nearly 20% market share. The stock was up 2% this morning.
Events in this week
- Thursday: Initial jobless claims (US)
- Friday: Auto sales volumes
Sectoral indices
| Top gainers | Top losers |
| Nifty Pharma ▲ 1.1% | Nifty IT ▼ 0.3% |
| Nifty Realty ▲ 0.8% | Nifty FMCG ▼ 0.2% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.4 |
| Hang Seng (Hong Kong) | ▲ 0.3% |
| SSE Composite (China) | ▲ 0.8% |
| Dow Jones (US) 24/12 | ▲ 0.2% |
Fact of the day
The Asia Tiger Funds' stock symbol is GRR.
Source: Bloomberg
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