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Benchmark Indian stock indices were little changed as gains in auto, energy and banking stocks were offset by losses in information technology and pharma stocks. The Sensex closed 0.05% lower to 60,077.88. The The Nifty inched down 0.01% to close at 17,855.10.
Nifty Auto gained 3.22%, Energy advanced 1.33% and Bank rose 0.90%. Reliance rose 1.68% to cross Rs 17 trillion market cap. Nifty IT fell 2.88%, Pharma and FMCG lost 1.15% and 0.90%, respectively.
Indian rupee fell 14 paise to close at Rs 73.84 against the US dollar.
Stock in News Today
United Breweries: The company was slapped with a fine of Rs 752 crore for cartelisation in the sale and supply of beer. Shares of the company fell more than 4% in intraday trade on BSE. “We are reviewing the order in consultation with our legal advisors. We will evaluate further legal options, as may be available under applicable law”, the company said in a statement.
IndusInd Bank: The private sector lender has partnered with Vistara airlines to launch co-branded credit card Club Vistara IndusInd Bank Explorer. The credit card will come with a variety of benefits for the customers such as complimentary business class ticket, membership of the airline’s frequent flyer programme and lounge access.
KPR Mill: The company’s stock price surged on Monday extending gains from last week after the company split its stock for 1:5 on Friday. In past one month, the stock has soared 42% beating the gains by benchmark index Sensex.
IOC & CPCL: Both the public sector enterprises have started working on the Rs 31,580-crore refinery project at Nagapattinam in Tamil Nadu, according to a news report by Business Standard. Each company will hold 25% in the proposed 9 million tonne per annum (MTPA) refinery, while the remaining 50 per cent will be held by a strategic partner, for which talks are underway.