[11/01 Market Update] Hindalco (+3%) on bond sale, Airtel (-3%) on rating downgrade & more
[11/01 Market Update] Hindalco (+3%) on bond sale, Airtel (-3%) on rating downgrade & more
Tribe Daily
Market Summary
Nifty closes flat as Indian Investors await India Inc earnings and USA inflation data.
Companies
Hindalco (+3%) rose after the company's board approved the raising of Rs 700 cr through the bond sale. Sun Pharma (+1%) rose after the company launched the breast cancer drug Palbociclib in India. Bharti Airtel (-3%) declined after JP Morgan downgraded the stock.
Sectors
Nifty Metal (+1%) rose due to strong performance of NMDC, Hindalco, NALCO, SAIL and APL Apollo. Nifty PSU Bank (+1%) rose due to strong performance of Punjab & Sind Bank, BOI, PNB and Central Bank. Nifty FMCG (-1%) declined due to weak performance of Varun Beverages, HUL, Marico and Nestle.
Market News
1.Greaves Cotton Ltd (+7%) rose after the company unveiled new two-wheeler and three-wheeler EVs. (Money Control)
2. Rategain Travels Technologies (+5%) rose after the company completed the acquisition of USA-based Adara's assets. (Market Screener)
3.RVNL (+3%) rose after the company bagged Rs 1,134 cr Chennai Metro orders.. (CNBC TV 18)
4.Rites LTD (+1%) after the company partnered with IIT-Kanpur for a sustainable future. (Financial Express)
5.Castrol India acquired 7.09% stake in TVS Group ki Mobility. (Business Standard)
Market Sentiment
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