ICICI Bank, SBI, Tata Motors, BHEL and Tata Steel are losers while Dr Reddy's Labs and HDFC Bank are gainers in the Sensex. For more information visit www.capitalheight.com/about.php
Dragged by global cues the market has opened with severe cuts. The Nifty is down below 8100. The 50-share index is down 72.75 points or 0.9 percent at 8097.30 while the Sensex is down 246.12 points or 0.9 percent at 26389.63.
The Indian rupee opened lower by 18 paise at 66.94 per dollar on Monday versus 66.76 Friday.
Spot gold was nearly flat at USD 1,273.36 an ounce by 0105 GMT. Bullion touched a session best of USD 1,278.03, its highest since May 18.
The Enforcement Directorate (ED) tweeted that it had "attached" properties worth Rs 14.11 billion (USD 210.78 million) in the case involving a loan from state-owned IDBI Bank to Kingfisher to buy properties abroad.
IDBI Bank does not think restructuring of standard loans could be too negative for banks.
VECV turned free cash flow positive with Rs 360 crore in FY16. VECV's EBITDA margins rose 80 basis points (bps) annually in FY16 but gross margins declined 100 bps.
The contract has been awarded from Nepal Electricity Authority (a Government of Nepal Undertaking) vide letter of award for expansion of distribution network in the Western region of Nepal.
The portfolio being acquired for USD 350 million is a mix of filed ANDAs pending approval and an approved ANDA, and comprised of complex generic products across diverse dosage forms.