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Key benchmark indices trimmed losses in mid-afternoon trade after hitting fresh intraday low in afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was down 310.52 points or 0.98% at 31,484.94. The Nifty 50 index was down 87.15 points or 0.88% at 9,817. Bulk of todays steep market slide was triggered by a sharp slump in index heavyweight and IT major Infosys. Sentiment was also hit as global stocks markets declined on rising doubts about US President Donald Trumps ability to deliver his economic agenda.
Shares of over 75 companies will remain in focus on Monday, as they will announce their Q1 results on Saturday. Among these are Adani Enterprises, Adani Ports and SEZ, Atul Auto, BF Utilities, Birla Corp, DPSC, DLF, GMR Infra, Godfrey Phillips, Ess Dee Aluminium, Hindustan Copper, JK Cement, Mercator, Parsvnath Developers, Punj Lloyd, RComm, Shree Renuka Sugars, Trident, TVS Srichakra, United Bank of India, Vinati Organics, Vivimed Labs and Voltamp Transformers.
New Delhi: Infrastructure major Punj Lloyd on Thursday saw its net loss narrowing to Rs194.32 crore for the first quarter ended 30 June, 2017. The company had clocked a net loss of Rs211.39 crore in the corresponding quarter of 2016-17, Punj Lloyd said in a BSE filing.
Engineering and Procurement major, Punj Lloyd reported a ₹ 194 net loss for the first quarter of the financial year 2017-2018. This is lower than the ₹ 211 crore net loss reported during the corresponding quarter of the last financial year.
Equity benchmarks ended near a two-week closing low on Tuesday, with the Sensex shedding 358 points intraday on profit booking post a SEBI order on shell companies and global weakness.
Shares of Punj Lloyd surged more than 8 percent intraday Friday as the company achieved financial closure of largest gas pipeline project in Malaysia.
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10.24 am Market Check: Equity benchmarks as well as broader markets held early gains, with the Sensex rising more than 100 points, supported by index heavyweights Reliance Industries, Infosys and HDFC Group stocks.
Punj Lloyd continued book losses for the fourth quarter of financial year 2016-2017. According to a filing in the exchanges, the company reported a net loss of Rs 181 crore for the quarter. Compared to the same quarter in financial year 2016, the Company has cut losses as it had reported a net loss at Rs 396 crore.
Firmness persisted on the bourses in afternoon trade on steady buying in index heavyweights Reliance Industries (RIL), Infosys and ITC. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 219.76 points or 0.71% at 30,969.79. The Nifty 50 index was up 67.05 points, or 0.71%, at 9,576.80. The Sensex and the Nifty, both, hit their record high levels in afternoon trade. Capital goods stocks advanced.
Key benchmark indices reversed intraday gains to hit fresh intraday low in negative zone in afternoon trade as sentiment was dampened by escalating Indo-Pak tensions. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 17.75 points or 0.06% at 30,347.50. The Nifty 50 index was off 11.10 points, or 0.12% at 9,375.05. Realty stocks declined sharply. Capital goods stocks edged lower.
Key benchmark indices continued to trade in a small range with positive bias in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 92.63 points or 0.3% at 30,557.55. The Nifty 50 index was up 8.30 points or 0.09% at 9,436.20. Shares from capital goods and telecom sectors saw mixed trend. Key benchmarks were hovering in the green tracking positive global stocks.
It is shocking that it has taken the Indian establishment decades to realize that by being forced to import 65 per cent if its military requirement it can be strategically choked by foreign powers at any time. The Narendra Modi government’s decision to involve the private sector to produce cutting-edge weapon systems in collaboration with armament majors abroad through joint ventures is a worthy move which should have come years ago.
The Defence Acquisition Council today discussed the much-awaited 'strategic partnership model' under which select private firms would manufacture fighter jets, helicopters and submarines in India in partnership with foreign companies.