25.02.2019|POST MARKET|ADANI PORTS| WIPRO|JBM AUTO|முடிவடைந்த பங்கு சந்தையில் கவனிக்க வேண்டியவை
Channel: TAMIL TRADERS ZONE
Date: 2019-02-25

25.02.2019|POST MARKET|ADANI PORTS| WIPRO|JBM AUTO

The Nifty50 after early trade volatility gained strength and closed on a strong note on Monday, driven by global optimism after substantial progress in bilateral talks between the US and China. The approval of GST council to lower the tax rate on real estate project also lifted sentiment.
Technically, Nifty formed a bullish candle and closed above its crucial long-term moving average of 200-DMA placed at 10,861.
NIFTY – 10930

Adani Ports lost more than 8 percent after its subsidiary Adani Logistics decided set to acquire Adani Agri Logistics (AALL) from Adani Enterprises.
Jubilant Life Sciences climbed 2 percent as its subsidiary Jubilant Pharma launched unsecured bonds offering outside India.
Shares of Sharon Bio-Medicine were locked at 5 percent upper circuit despite USFDA inspected company's API facility at Taloja.
Shares of JBM Auto rose 5.6 percent intraday after the company acquired a major shareholding in Linde-Wiemann.


Adani Ports Plunges Over 8%
Adani Ports and Special Economic Zone shares fell more than 8 percent intraday after its subsidiary Adani Logistics is set to acquire Adani Agri Logistics (AALL) from Adani Enterprises.
The acquisition will be an all cash deal and is expected to be completed by March 2019, the company said in its filing.
"AALL is a subsidiary of Adani Enterprises and the transaction is proposed at an enterprise value of Rs 1,662 crore. After acquisition, the combined business EBITDA (earnings before interest, tax, depreciation and amortisation) will immediately double to around Rs 200 crore," it added.

Wipro shares hit a 19-year high at Rs 396 after the company fixed March 7, 2019, as the record date to determine eligible shareholders entitled to receive the bonus equity shares. In intra-day, the stock was trading at its highest level since February 22, 2000, on the BSE.
The board of directors of Wipro at their meeting held on January 18, had recommended issue of bonus equity shares in the proportion of 1:3 (one equity share for every three equity shares held). The company has also received approval for an increase in authorised share capital and issue of bonus shares from the majority of its shareholders.

On a year-to-date (YTD) basis, Wipro has outperformed the frontline indices by gaining 3 percent as compared to a 0.2 percent decline in the S&P BSE Sensex. The stock ended at Rs 386, up 1.8 percent, as compared to a 0.9 percent rise in the Sensex. The stock also hit a 52-week high during the day.

In December 2018 quarter (Q3FY19), Wipro reported a 31.83 percent year-on-year rise in profit at Rs 2,544.50 crore for the quarter ended December 31. The company had posted a profit of Rs 1,930.10 crore in the corresponding quarter last year. Revenue from the IT services rose 13 per cent to Rs 14,665.60 crore in Q3FY19 over Rs 12,978 crore in the same period last year

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