The market on Tuesday ended after a lot of struggle as the Sensex closed down 57.64 points or 0.2 percent at 26667.96, and the Nifty ended 18.40 points or 0.2 percent at 8160.10.
Tata Motors, Tata Steel, SBI, Maruti and Adani Ports were top gainers while Sun Pharma, TCS, GAIL, ONGC and Reliance were losers in the Sensex.
Edible oil manufacturer Ruchi Soya Industries disappointed street by posting big loss of Rs. 889 crore in January-March quarter against profit of Rs. 19 crore in year-ago period, dented by lower revenue and loss at operating level (in major segments like oil, seed extraction and others).
The company revenue declined 17.4 percent to Rs. 8,048.7 crore during the quarter from Rs. 9,738.9 crore in corresponding period of last fiscal due to lower growth across segments (except food products). Operational performance was pathetic for the quarter as EBITDA (earnings before interest, tax, depreciation and amortization) loss stood at Rs 840.2 crore against profit Rs 138.3 crore in year-ago period.
BSE, Asia’s oldest stock exchange, plans to sell up to 30 percent stake in its much-awaited initial public offer (IPO), which is expected to hit the market this financial year. The exchange plans to file draft papers with capital markets regulator Sebi in July.
BSE (formerly known as Bombay Stock Exchange) has already appointed Edelweiss Financial Services as the lead merchant banker and AZB and Partners and Nishith Desai Associates as legal advisors to the issue. The exchange will hold an annual general meeting (AGM) on June 24 to seek shareholder’s approval for the listing. The total size of the issue will not exceed 30 percent, according to a notice of AGM.