ETMarkets After Hours: Apex Foods makes stellar debut; Adani stocks fall

Out of 51 Nifty50 constituents, 40 ended the session in the red and the rest in the green. NSEBSEReliance CapitalLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESJaypee InfratechLoading data…

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        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAdani PowerLoading data…

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          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAdani EnterprisesLoading data…

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            ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAdani PowerAdani EnterprisesEXPAND TO VIEW ALL NEW DELHI: Just when the domestic market seemed to be getting back on the recovery path with market analysts projecting the Nifty50 to reclaim the crucial psychological level at 10,000, North Korea once again played spoilsport dragging markets across the globe into the negative zone.

            North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, marking a dramatic escalation of the regime’s standoff with the US and its allies. In addition, fresh reports on Monday said South Korea detected signs that Pyongyang may be preparing to launch another missile, which could be an ICBM or intercontinental ballistic missile. These reports further spooked the market sentiment.

            Snapping its three-day winning streak, the domestic equity market ended Monday’s session in the red, with S&P BSE Sensex shedding 190 points to close at 31,702. State-run PSU Coal India (up 3 per cent) emerged the top gainer in the 30-share pack while Adani Ports (down nearly 3 per cent) was the biggest loser.

            The broader Nifty50 index of the National Stock Exchange (NSE) lost 61 points but managed to close above the crucial 9,900 level. Out of the 51 constituents, 40 ended the session in the red and the rest in the green.

            Here’s a look at the top newsmakers of Dalal Street on Monday:

            Apex Foods makes impressive debut
            Apex Frozen Foods made a stellar debut on the bourses by listing at Rs 199.90 on BSE, a 14.23 per cent premium to its issue price of Rs 175. The company’s Rs 152 crore IPO, which was sold between August 22 and August 24, was subscribed 6.14 times. The stock settled the day at Rs 210 apiece, up 20 per cent.

            Kwality losing quality?
            Shares of Kwality witnessed a sudden fall in afternoon trade and hit the lower circuit limit of 20 per cent. The scrip settled 19.99 per cent down at Rs 114.25. The stock had hit a 52-week high of Rs 169.05 on April 20, 2017 and 52-week low of Rs 112.40 on November 22, 2016. For the quarter ended June 30, 2017, the dairy firm posted a 34.06 per cent drop in net profit at Rs 27.87 crore against Rs 42.27 crore posted for the same quarter last year.

            Reliance Capital plunges on F&O expiry
            Shares of Reliance Capital plunged over 4 per cent on Monday on the expiry of F&O contracts of August series. The stock will turn ex-date on Tuesday for the proposed demerger of Reliance Home Finance. Reliance Capital will be excluded from 11 S&P BSE indices from September 5, 2017, as the NBFC is demerging its real estate lending business. The stock settled at Rs 820 apiece, down 4.37 per cent.

            Adani Group stocks lose in trade
            All the four listed stocks – Adani Enterprises (down 4 per cent), Adani Ports (down 2.60 per cent), Adani Power (down over 5 per cent) and Adani Transmission (down 3.45 per cent) – slumped in Monday’s trade on a couple of negative news around the group companies. First, reports surfaced that Adani Enterprises, the flagship company of Adani Group, appeared to be at odds with the state of Queensland over royalties for its Carmichael coal project just days after the company said it would soon break ground on the Australian mine. This apart, reports that Adani Group has lost nearly all its investment in the debt-ridden Mundra thermal power plant weighed on the stocks.

            Jaypee Infratech rebounds
            Shares of real estate player Jaypee Infratech recovered from major intraday losses after reports that the Supreme Court has stayed insolvency proceedings against the company. Shares of the company had hit their 52-week high of Rs 25.20 on July 26, 2017 and 52-week low of Rs 6.42 on November 15, 2016. The stock settled at Rs 18.50 apiece, up nearly 5 per cent.

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