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Sensex Trades in Green; Bajaj Auto & Bharti Airtel Top Gainers
Fri, 3 Jul 12:30 pm | Monish Vora, TM Team

Share markets in India are trading on a positive note in today's volatile trade. Benchmark indices edged higher as positive developments in a coronavirus vaccine trial improved global risk sentiment.

Global stock markets were upbeat after a Covid-19 vaccine from Pfizer and Germany's BioNTech was found to be well tolerated in early-stage human trials.

Sentiment also got a boost after US non-farm payrolls released overnight beat expectations, raising optimism of a V shape recovery. This came as an addition to the recent PMI data from China which was also ahead of expectations and rather encouraging.

The BSE Sensex is trading up by 189 points, up 0.5%, at 36,000 levels. Meanwhile, the NSE Nifty is trading up by 58 points.

The BSE Mid Cap index is trading up by 0.7%. The BSE Small Cap index is trading up by 0.6%.

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On the sectoral front, gains are largely seen in the telecom sector and power sector.

Metal stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 74.68 against the US$.

Gold prices are trading down by 0.3% at Rs 48,030 per 10 grams.

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Moving on, market participants are tracking Vedanta share price. The Anil Agarwal-led company has been removed from all indices complied by the NSE ahead of its possible delisting.

The company is also part of the benchmark Nifty 50 index. The stock will be replaced by HDFC Life Insurance Company with effect from July 31.

It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices.

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NSE's index maintenance committee "has decided to replace Vedanta from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31," the exchange said in a release.

Last week, Vedanta obtained shareholders' approval to delist. The company will soon launch the reserve book building process to delist.

Note that in the last two months, majority owners of Vedanta, Adani Power, and Hexaware Technologies have proposed buying out all publicly traded shares amid the coronavirus-induced sell-off in stocks.

It was also reported last month that Diageo is exploring options to delist United Spirits.

Enthusiasm to invest in shares of public companies that can go private matches a trend seen in Singapore in recent years.

According to the data from DBS Bank, the premium for privatizations and takeovers in the city-state averaged about 15% between 2017 and July 2019.

The strategy was earlier seen in India after the global financial crisis, and, in 2009, at least one local fund manager opened a fund to buy shares in companies seen to have a high likelihood of delisting.

We will keep you updated on the latest developments from this space. Stay tuned.

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In news from the FMCG sector, Emami and Hindustan Unilever (HUL) are among the buzzing stocks today.

HUL on Thursday said it has renamed its popular skincare brand Fair & Lovely as 'Glow & Lovely' after dropping the word fair from its name.

Earlier on June 25, HUL had announced dropping the word 'fair' from its popular skincare brand, citing its vision to adopt a holistic approach to beauty.

The company has attributed the move to its rebranding exercise and said it would seek regulatory approvals.

HUL, a subsidiary of British-Dutch multinational company Unilever PLC, had approached the Controller General of Patent Design and Trademark to get the name registered.

Meanwhile, Emami said it will consult legal experts over rival Hindustan Unilever's decision to rename its men's fairness cream brand as 'Glow & Handsome' that bears similarity to Emami's 'Fair & Handsome' brand of men's personal care products.

As per a leading financial daily, while HUL's Fair & Lovely dates back to the 70s and largely serviced a female audience, it was Emami that took a leap to launch a men's variant in 2005 after anticipating a growing demand for fairness creams among men.

The brand is endorsed by popular Bollywood actor Shahrukh Khan. HUL entered the men's personal care market in 2006 with Fair & Lovely for Men.

Emami labelled HUL's move as "unfair business practice".

Note that this isn't the first the time the two companies are at loggerheads over their men's personal care portfolio.

Last year, HUL filed a petition against Emami for disparaging its Fair & Lovely cream in a television commercial.

In a 2018 injunction order against HUL, Emami sought to restrain HUL from publishing a TVC for the Fair & Lovely Men's brand over claims that it intends to "demean, disparage or denigrate Emami's product, Fair and Handsome Fairness Cream for Men, thus, interfering into the direct goodwill and business loss for the company".

Here's an interesting data of HUL, until 2013, the company had products and categories customized for Indian market. That made it difficult for the company to sell its overseas products in the country. Nor could it reach out enough to a global customer base with Indian products.

A change of strategy suddenly opened up Unilever's global markets to HUL for both sourcing and selling.

The result was evident in profit growth and stock price over the next few years.

Stock of HUL Had the Crorepati Trigger in 2013

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Stock Market Updates

KPR MILL Share Price Up by 12%; BSE 500 Index Down 0.1% (Today's Market)

Aug 12, 2020 03:29 PM

KPR MILL share price is trading up by 12% and its current market price is Rs 504. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are KPR MILL (up 12.1%) and INTERGLOBE AVIATION (INDIGO) (up 10.1%). The top losers are DLF and BALRAMPUR CHINI .

STRIDES PHARMA SCIENCE Share Price Down by 5%; BSE HEALTHCARE Index Down 1.4% (Today's Market)

Aug 12, 2020 03:29 PM

STRIDES PHARMA SCIENCE share price is trading down by 5% and its current market price is Rs 607. The BSE HEALTHCARE is down by 1.4%. The top gainers in the BSE HEALTHCARE Index are PROCTER & GAMBLE HEALTH (up 4.5%) and ERIS LIFESCIENCES LIMITED (up 2.3%). The top losers are STRIDES PHARMA SCIENCE (down 5.2%) and CAPLIN POINT (down 5.0%).

SONATA SOFTWARE Share Price Up by 5%; BSE IT Index Up 0.5% (Today's Market)

Aug 12, 2020 03:27 PM

SONATA SOFTWARE share price is trading up by 5% and its current market price is Rs 299. The BSE IT is up by 0.5%. The top gainers in the BSE IT Index is SONATA SOFTWARE (up 5.5%). The top losers are PERSISTENT SYSTEMS (down 0.7%) and TCS (down 1.0%).

CROMPTON GREAVES CONSUMER ELEC. Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.9% (Today's Market)

Aug 12, 2020 02:41 PM

CROMPTON GREAVES CONSUMER ELEC. share price is trading down by 5% and its current market price is Rs 263. The BSE CONSUMER DURABLES is down by 0.9%. The top gainers in the BSE CONSUMER DURABLES Index are VIP INDUSTRIES (up 3.6%) and BLUE STAR (up 2.2%). The top losers is CROMPTON GREAVES CONSUMER ELEC. (down 5.0%)..

HCL TECHNOLOGIES at 52 Week High; BSE 500 Index Down 0.1 % (Today's Market)

Aug 12, 2020 02:41 PM

HCL TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 719. BSE 500 Index is down by 0.1% at 14,753. Within the BSE 500, HCL TECHNOLOGIES (up 5.0%) and IDFC (up 17.6%) are among the top gainers, while top losers are RESPONSIVE INDUSTRIES and HINDUSTAN ZINC.

Indian Indices Recover from Day's Low; SBI Jumps 4% (Today's Market)

Aug 12, 2020 12:30 pm

The BSE Sensex is trading down by 63 points, while the NSE Nifty is trading down by 23 points.

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