For the second day in a row, the bulls were all smiles on Dalal Street, as the benchmark indices ended with handsome gains. Easing trade war fears on reports that the US and China are willing to renegotiate tariffs and trade imbalances boosted investors to ditch safe-haven assets and go for riskier bets.
The 30-share pack added 108 points on Tuesday to end at 33,174. NSEs Nifty50 gained 53 points to settle at 10,184.
Here's a look at top events and announcements you should know about Tuesday's trade –
Ashok Leyland to increase prices
Ashok Leyland, the flagship company of the Hinduja Group, announced that the company would increase prices of its entire range of vehicles by a minimum of 2 per cent. This price increase is owing to rising input costs and implementation of AIS 140 regulation. The proposed price increase will be effective from April 1, 2018. Shares of the company settled flat at Rs 144.65.
EPC players on a high
Engineering, procurement and construction (EPC) firm Kalpataru Power Transmission (KPTL) climbed 4 per cent after it bagged three orders worth Rs 901 crore. Similarly, shares of Punj Lloyd skyrocketed 12.23 per cent after the companyon Monday won a Rs 505 crore highway contract in Odisha from NHAI.
Tweet of the Day
This time, like all times, is a very good one, if we but know what to do with it – Ralph Waldo Emerson #TuesdayThoughts #Thought4theDay
— Amar Ambani (@AmarAmbani) 1522124262000
Spurt in open interest
Cummins India witnessed the biggest spike in open interest at 119.42. Oil India (68.53 per cent) and Glenmark Pharma (61.99 per cent) secured the second and third slot respectively.
Kacholias touch lifts Acrysil
Investor Ashish Kacholia on Monday bought 2.2 lakh shares of Acrysil at Rs 486 per share. This amounts to 4.3 per cent stake of the company. As a result, shares of the company spurted over 8 per cent to Rs 526.25 apiece.
Bandhan debuts with a bang
Kolkata-based private lender Bandhan Bank on Tuesday made a dream market debut as the scrip got listed at Rs 499 on the NSE, a 33 per cent premium to the issue price of Rs 375. It is among India's 10 most valuable banks on its debut with market cap of Rs 56,920 crore. The stock shut shop at Rs 470, up 25.33 per cent.
Broader markets participate in the rally
The S&P BSE Midcap index surged 1 over per cent to 16048.33 while the S&P BSE Smallcap index went home with 1.36 per cent gains at 17,153.
The initial public offering (IPO) of hospitality chain Lemon Tree Hotels was subscribed 44 per cent till 5 pm on Tuesday, the second day of the three-day bidding process. Investors bade for 5,72,15,355 shares as against the total issue size of 12,98,35,580, NSE data showed.