Bharti Airtel divests 83 mln shares of Bharti Infratel for Rs 3,325 crore

Bharti Airtel today expressed that it has divested 83 million shares of its assistant, Bharti Infratel, for Rs 3,325 cr through alternate share sale in the stock market. The sale was done @Rs 400.6/share, representing a discount of 3.6% to the previous day's closing price.

Bharti Airtel, India's enormous medium function, will primarily utilize the incomes from this selling to decrease its indebtedness, as per report. Airtel's united indebtedness stood at Rs 91,480 crore as on Sept 2017. Bharti Airtel and its wholly owned assistants together have an asset holding of 53.51%in structure institution Bharti Infratel, the company said.

Market settles with modest gains amid volatility, Nifty ends at 10,070

Trading for the weekend finished on a positive note with the indices settling with modest gains after a volatile and range bound session of trade. The BSE Sensex gained 87.53 points or 0.27% at 32,325.41, while the NSE Nifty index rose 52.75 points or 0.53% at 10,066.40.  Caution continued in global stocks ahead of US nonfarm payroll data for July, which falls presentation later in the global day.
The BSE MidCap rose 0.66 percent outperforming the Sensex, whereas the BSE SmallCap index gained 0.1 percent, underperforming the Sensex.  About 1385 shares declined and 1,200 shares advanced and a total of 173 shares were unchanged on BSE.
Buzzing stocks are - IOC surged 9%, overtaking ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Bharti Airtel.  Mahindra & Mahindra declined 0.2 percent after its net profit fell 9 percent to Rs 859 crore on 3.74 percent rise in gross revenue to Rs 23,212 crore in first quarter June 2017 y-o-y.

Nifty closes at 9274, Sensex closes at 29,974 up 64 points from previous close

The benchmark indices Nifty closed at 9274.24, up by 27 points. BSE Sensex closed at 29,974.24 levels, up by 64.02 points with just one left for RBI policy announcement. The BSE Midcap rose 0.46% at 14,256 and BSE Smallcap indices rose 1% at 14,785.

The overall market breadth was positive. There were 1965 advances against a 956 declines and a total of 136 shares were unchanged.

Maruti Suzuki and Adani Ports rose above 4 percent each and topped the majors, whereas, HDFC and HCL Tech were the top losers.

Shankara Building Products shares listed at Rs 555 on the NSE, a 21% premium against its issue price of Rs. 460. The stock extended intraday gains to settle 39% higher at Rs. 638 against its Initial Public Offering. 

European and Asian stocks were higher. U.S stock markets closed with small gains yesterday ahead of a key meeting between President Trump and Chinese President Xi Jinping on 6 & 7 April 2017.

Eqity Market Weekly Wrap by Moneymaker Research

Indian equity markets registered modest gains in the week ended Friday, 13 May 2016 buoyed by the passage of key legislation viz. the Insolvency and Bankruptcy Code, 2016 by the government in the Parliament which is expected to help creditors recover bad debt faster. The market gained in three out of five trading sessions. The Nifty rose 81.45 points or 1.05% to settle at 7,814.90. 

On the macro front, the data on Thursday, 12 May 2016 showed acceleration in consumer price inflation in April 2016. Inflation based on consumer price index (CPI) surged to 5.39% in April 2016 from six months low of 4.8% recorded in March 2016. Next batch of Q4 results of India Inc., macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement o

f rupee against the dollar and crude oil price movement will dictate market trend in the near term.

Investmnet Free Calls

Buy PFC future above 176.5 targets 179, 181.5, 184 Stop Loss 171.5