Equity benchmarks continued to trade higher in morning, with the Sensex rising over 100 points, backed by ITC, Reliance Industries and HDFC Bank. The 30-share BSE Sensex was up 130.13 points at 31,841.12 and the 50-share NSE Nifty gained 39.25 points at 9,866.40 on strong market breadth. About 1,444 shares advanced against 584 declining shares on the BSE. The broader markets continued to outperform benchmarks, with the BSE Midcap and Smallcap indices rising 0.6 percent and 0.8 percent, respectively. Grasim Industries shares fell more than 22 percent in morning trade Wednesday on account of demerged of Aditya Birla Capital (formerly known as Aditya Birla Financial Services).
Intraday Stock Tips for Today (19th July)
HPCL / ONGC
The merger of both companies is possible today with cabinet approval. ONGC will buy 51 per cent stake in HPCL.
IOC / Oil India / Chennai Petro
Oil India merged with IOC.
Arvindo Pharma’s kidney drug has been approved by US FDA.
RBI has raised the limit of FII investment in the Federal Bank. RBI has increased the FII investment limit from 49 per cent to 74 per cent in the Federal Bank.
BHEL has won the bid for 2400 MW Patratu Power Plant. BHEL had the lowest bid for Patratu Power Plant at Rs 10,266 crore.