Saturday, 20 June 2015

Energy, banking find favour today for 19 June 2015


The Indian equity markets gained further ground during the previous two hours of trade, ending the day on a firm note. While the BSE-Sensex today higher by about 200 points, the NSE-Nifty closed higher by 66 points. Midcap and smallcap stocks too closed in the green today. While the BSE Mid Cap index was up by 0.6% the BSE Small Cap index closed higher by 0.3%. Oil & Gas and Banking stocks were the biggest gainers today.

With regards to international cues, Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.92% and the Hang Seng rose 0.20%. The Shanghai Composite lost 6.42%. European shares were seen opening higher buoyed by a rally on Wall Street overnight. The rupee was trading at 63.84 against the US$.

Stocks in the Healthcare sector ended the trading day on a firm note. Divis Laboratories and IPCA Labs were the leading gainers. According to a leading financial daily, drug firm Dr Reddy's Laboratories has completed the acquisition of select portfolio of established brands of Belgian firm UCB in India. The company has reportedly acquired selected portfolios of established brands of UCB in India, Nepal, Sri Lanka and Maldives for Rs 8 bn. The company had also entered into a definitive agreement with UCB which also entails absorbing 350 employees engaged in the operations of India business. Dr Reddy's Laboratories ended the trading day on a firm note.

Shares of Larsen and Toubro (L&T) gained 1.6% Friday after its construction subsidiary won orders worth Rs 22.78 bn in May and June. Its power transmission and distribution segment received orders worth Rs 12.5 bn in international markets and Rs 10.2 bn worth of orders were won by its heavy civil infrastructure segment. Subsidiary L&T Saudi Arabia LLC bagged a contract from National Grid Saudi Arabia for engineering, procurement and construction of 132 KV cabling work in Hail city and a 132 KV double circuit transmission line in Turaif, Qaseem and Hail areas of Saudi Arabia. Another subsidiary L&T Oman LLC received an order from Oman Electricity Transmission Company. Also the company received a major order from a Government agency to design and build 66 kV substations with associated cabling works in the GCC market. 

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