Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Market Watch: Glenmark GSK Consumer, UB, Reliance Infra

Photo Credit :

Shares in Glenmark Pharmaceuticals, GlaxoSmithKline Consumer Healthcare and United Breweries gain after their inclusion in National Stock Exchange's derivatives market, dealers say. Futures and options contracts on the companies' shares would be available from 3 October onwards, NSE said in a circular on Friday, 27 September.

"The market lot of the above mentioned securities shall be informed to members on 1 October 2013 through a separate circular," NSE added. Glenmark is up 1.1 per cent, GSK Consumer is up 3 per cent while United Breweries gains 2 per cent. The Sensex falls 1 per cent

Reliance Infra Falls On Crisil Debt Downgrade

Shares in Reliance Infrastructure fall 1.8 per cent after rating agency Crisil downgrades its rating on the company's debt programmes and long-term bank facilities to "A+/Negative" from "CRISIL AA-/Negative".

Crisil says the rating revision reflects lower revenue visibility in the company's engineering, procurement, and construction business coupled with higher-than-expected exposure to group companies.

Reliance Infra's group company exposure increased significantly to Rs 12,600 crore as on 31 March 2013 from Rs 10,100 crore as on 31 March 2012, which is contrary to the agency's expectations.

Crisil adds that the impact of these developments is partially offset by the incremental annual cash flow expected from the recovery of regulatory assets in its Mumbai distribution business.

(Reuters)