Sensex choppy, Nifty tests 8,300; Deep Inds spurts 17%

NEW DELHI: The S&P BSE Sensex pared gains after surging as much as 100 points in trade today.

The 50-share Nifty index reclaimed its crucial psychological level of 8,350, but saw selling at higher levels. The index soon retreated and was testing 8,300-level.

Deep Industries rallied over 18 per cent in intraday trade as company signed a contract with ONGC.

Markets @ 12:10

Sensex: 27,679 up 34 points; Nifty: 8,334 up 16 points

Top Gainers

LUPIN LTD (2.4%), COAL INDIA (2.3%), SUN PHARMA (2.2%), BHARTI AIRTEL (1.9%), TATA STEEL (1.3%)

Top Losers

NTPC (-1.5%), TCS (-1.2%), GAIL (-1.2%), M&M (-1.1%), ICICI BANK (-1.1%)


BUZZING STOCKS

Welspun Corp Ltd surged nearly 14 per cent in intraday trade.

Coal India gained 2 per cent as Morgan Stanley raised its target.

Orchid Chemicals rose nearly 10 per cent in intraday trade today.

Marksans Pharma spiked nearly 10 per cent in intraday trade after acquisition of New York based Time-Cap Labs. Read here

Sterlite Technologies rallied over 7 per cent in intraday trade.

Voltas fell nearly 4 per cent in intraday trade.

Brigade Enterprises shot over 18 per cent as board approves acquisition of land for 550 crore. Read here

Sun TV surged over 4 per cent in intraday trade.

Deep Industries rallied over 18 per cent in intraday trade as company signed a contract with ONGC. Read here

Gujarat NRE Coke Ltd spiked over 11 per cent in intraday trade.

WHAT TOP EXPERTS SAY

No fall on a bad day suggests our markets are strong: Ashwani Gujral, Fund Manager, Ashwanigujral.com. Read here

Nifty unlikely to fall below 8,250; do not see uptrend either: Mitesh Thacker, Technical Analyst, miteshthacker.com. Read here

Greece will make market suffer, but it's not as bad as 2011 crisis: Goldman Sachs. Read here

Near-term positives are priced in for the stock: BofA ML on Voltas

Fund managers have been reducing exposure to EMs: Stan Shamu, IG

Here is a list of seventeen stocks that are in focus today:

Kotak Mahindra Bank: Shareholders gave approval to Kotak Mahindra Bank's proposal for issuance of bonus shares. The annual general meeting held on Monday has approved issuance of "bonus shares in the proportion of one equity share for every equity share of face value Rs 5 held by such person on the record date.

Sun TV Ltd: The government on Monday said that a final decision on the matter related to 33 channels of Kalanithi Maran-promoted Sun TV network will be taken "collectively" even as reports suggested that the two key concerned ministries had taken diverging views on the issue.

Crompton Greaves Ltd: Avantha Group firm Crompton Greaves (CG) said that it has bagged orders to set up two power substations overseas.

Lupin Ltd: Drug major Lupin will look for acquisitions in different parts of the world to enter new product segments, therapies and geographies. In order to consolidate its business globally, the Mumbai-based firm has already inked various agreements in the previous fiscal.

JSW Steel Ltd: JSW Steel sought shareholders' approval to raise up to Rs. 4,000 crore through qualified institutional placement, the steelmaker said in a regulatory filing on BSE.

RIL Ltd: Reliance Industries and its partners in the KG-D6 block may defer development of the R-Series and satellite gas fields because of the uncertain outlook for gas prices, Niko Resources of Canada, which has a 10% interest in the block, said on Monday.

Bharti Airtel Ltd: Sunil Bharti Mittal-led Bharti Airtel is pumping in $1 billion (Rs 6,400 crore) in this financial year to ramp up pan-India 3G coverage, expanding the network in new and existing circles to deploy data spectrum purchased in March.

Companies with European exposure: Shares of Indian companies with business exposure to Europe may under-perform the market over the next couple of weeks as a breakdown in talks between Greece and its lenders threatens to push the country and the Eurozone into a deeper crisis.

M&M Ltd: Mahindra and Mahindra is planning to set up new assembly lines for its SUV models. M&M will invest around Rs 6500 crore at the Chakan plant over the next 7 years to double its capacity.

GTL Infrastructure Ltd: The Company denies having knowledge of lenders weighing options to take control of GTL Infrastructure Limited. The article under consideration seems to be motivated with an intention to cause harm & damage to our Group, Company and Promoters and appropriate response is being initiated separately against the said publication.

Bank of Maharashtra: Bank of Maharashra and MUDRA Bank have signed an agreement to finance new entrepreneurs and small businesses. To provide credit facilities to small business, the central government aims to facilitate credit up to Rs 1 lakh crore under MUDRA (Micro Units Development and Refinance Agency) scheme in the current year.

Sintex Industries Ltd: Sintex Industries announced that pursuant to the approval of the Shareholders of the Company at the 81st Annual General Meeting of the Company held on 17 September 2012; for issue of US $ 140,000,000, 7.50 per cent, step down Convertible Bonds due 2017, the Committee of Directors at its meeting held on 29 June 2015 has allotted 1,18,29,476 equity shares of Rs. 1/- each to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise of their conversion right.

Gammon Infrastructure Projects Ltd: An infrastructure project development company announced that Indira Container Terminal (ICTPL), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal.

Reliance Communications Ltd: Telecom operator Reliance Communications is in talks with American Tower Company (ATC) and Carlyle to sell majority stake in its tower subsidiary Reliance Infratel in the current financial year.

Canara Bank: Rating firm Moody's Investors Service on Monday downgraded state-owned Bank of India (BoI) and Canara Bank a notch down in terms of Baseline Credit Assessments (BCAs), an indication of intrinsic or standalone financial strength of the company.

NHPC: Kargil district of Ladakh Division of Jammu and Kashmir has been reeling under darkness after the Chutak Hydroelectric Plant mysteriously submerged in water. Reports said that water has entered into the whole power station and all the turbines have stopped functioning from Sunday night.

Brigade Enterprises Ltd: The company announced that the Board of Directors of Brigade Properties, subsidiary of the Company has approved on 29 June 2015, the acquisition of the property admeasuring 15 acres 86 cents situated at Perungudi on OMR, Chennai from Kansai Nerolac Paints for a consideration of Rs. 550 crore subject to Legal Due Diligence.

MARKETS THROUGH THE DAY

Markets @ 11:10

Sensex: 27,655 up 10 points; Nifty: 8,325 up 7 points

Top Gainers

SUN PHARMA (2.1%), COAL INDIA (1.7%), BHARTI AIRTEL (1.5%), HIND. UNILEVER (1.3%), LUPIN LTD (1.2%)

Top Losers

NTPC (-1.4%), M&M (-1.3%), HERO MOTOCORP (-1.1%), TCS (-1.1%), ICICI BANK (-1.0%)

Markets @ 10:00

Sensex: 27,657 up 12 points; Nifty: 8,325 up 7 points

Top Gainers

SUN PHARMA (2.3%), COAL INDIA (1.8%), HIND. UNILEVER (1.4%), BHEL (1.2%), BHARTI AIRTEL (1.0%)

Top Losers

NTPC (-1.5%), WIPRO (-0.9%), TATA MOTORS (-0.9%), DR. REDDYS LAB (-0.8%), AXIS BANK (-0.8%)

Markets @ 9.20

The 30-share index was trading at 27716, up 71 points or 0.27 per cent. It touched a high of 27,762.95 and a low of 27,619.91 in trade today.

The Nifty was at 8,342 up 24 points or 0.3 per cent. It touched a high of 8356.45 and a low of 8316.10 in trade today.

The S&P BSE Midcap Index was up 0.68 per cent and BSE S&P Smallcap Index edged higher by 0.66 per cent.