Market Summary

Nifty declined due to weak global cues.

Companies

Ultratech Cement (+2%) rose after the company announced the commissioning of 1.30 mtpa brownfield cement capacity at Hirmi in Chattisgarh and 2.80 mtpa greenfield grinding capacity at Cuttack in Odisha. Adani Enterprise (-4%) declined as the Supreme court refused to accept the Centre's suggestion in a sealed cover. Nestle India (-3%) declined after the company reported a volume decline in Q4 results.

Sectors

Nifty Oil & Gas (+1%) rose after govt cut the windfall taxes on crude, aviation, turbine fuel and diesel.

Market News

1.GAIL is planning to buy a 26% stake in the US LNG project. (Money Control)

2.PTC Industries (+9%) as the company arm won the Safran Aircraft order. (Business Standard)

3.Cement shares in focus; Ultra Tech Cements (+2%), Dalmia Bharat (+1%) hit 52-week high. (Business Standard)

4.IPCA Labs (-3%) declined due to weak Q3 results. (Economic Times)

5.Bajaj Steel (+10%) rose after the company's board approved the sale of the plastic division Superpack. (Business Standard)

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