Nifty opens above 8600, Sensex firm; GAIL, Cipla, BHEL gainers. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.
- The market has opened flat on Tuesday with the Nifty holding 8600. The 50-share index is down 1.90 points at 8633.75 and the Sensex is up 25.61 points at 28120.95. About 264 shares have advanced, 75 shares declined, and 21 shares are unchanged.
- GAIL, Cipla, Tata Steel, BHEL and ONGC are top gainers while HDFC, Lupin, ICICI Bank, Dr Reddy's and Axis Bank are losers in the Sensex.
- The Indian rupee opened marginally lower at 67.41 per dollar against previous close 67.35.
- The Nifty50 was trading above its crucial level of 8,600 supported by gains in realty, power, oil & gas, metal, consumer durable, and telecom stocks.
- Low cotton prices, energy costs boosted Q1 margins: KG Denim KG Denim reported a strong first quarter with margins improving to 15.2 percent and net profit rising to Rs 9.3 crore as against Rs 1.6 crore year-on-year. Lower cotton prices and better energy costs aided margin expansion in the first quarter of FY17, says B Sriramulu, Managing Director of KG Denim. Volumes for the company grew at near 3 percent levels in Q1
- Essar expands capacity at Hazira Port with Rs 800cr investment The company is investing Rs 800 crore to add 20 MMPTA at its Hazira Port in Surat to its existing 30 MMTPA capacity, Essar Ports Chief Executive Officer Rajiv Agarwal told reporters here.