10:25 am Market Outlook: The valuations appear much reasonable and many stocks are providing opportunities for investors to buy in the midcap space, S Krishna Kumar, CIO-Equity at Sundaram Mutual Fund said in an interview with CNBC-TV18.

Commenting on the valuations, Kumar said that valuations have become reasonable compared to levels what we were trading back in November and December.

10:15 am Listing on Monday: Hospitality chain Lemon Tree Hotels is set to debut on bourses on April 9, 2018.

The issue was subscribed 1.19 times during March 26-28, 2018.

The IPO to mop-up Rs 1,038.68 crore received bids for 15.49 crore shares against the total issue size of 12,98,35,580 shares.

The segment meant for qualified institutional buyers (QIBs) was subscribed 3.89 times while non-institutional investors and retail investors subscribed 12 percent each.

The company’s IPO is of up to 185,479,400 shares (including anchor portion of 55,643,820 shares). Price band for the issue was at Rs 54-56 per share.

Lemon Tree Hotels has raised Rs 311 crore from anchor investors.

10:05 am Buzzing: Share price of Kridhan Infra rose 5 percent as company won order worth Rs 1,340 million in Singapore.

The company’s subsidiary KH Foges Pte has been awarded a new piling contract, in Singapore, worth Rs 1,340 million (SGD 27 million).

The contract period for the project is approximately 4 months.

Benchmark indices BSE Sensex and NSE’s Nifty 50 opened flat and soon turned negative on Friday as trade war tension between US and China escalated after US President Donald Trump said on Thursday that he is ordering the US trade representative to consider $100 billion in additional tariffs on Chinese goods. Markets gained nearly 2% on Thursday as traders cheered RBI’s decision to cut inflation forecast and maintain status quo in monetary policy.

9.43 am IST
RCom shares rise 2%
Reliance Communications Ltd shares rose 2.6% to Rs24 after the Supreme Court on Thursday cancelled a March order of the Bombay high court that had rejected the company’s appeal of an order from an arbitration tribunal barring the sale or transfer of its assets.

9.40 am IST
Binani Industries shares gain 7%
Binani Industries Ltd shares rose 7.6% to Rs109.25 after the company said it has filed application for termination of insolvency resolution process of its debt-ridden subsidiary Binani Cement.

9.37 am IST
InterGlobe Aviation shares trade lower
InterGlobe Aviation Ltd shares fell 1.3% to Rs1,430.15 after the company said that it will not bid to acquire divestment-bound Air India’s entire airline business as its interest only lay in the national carrier’s international operations and subsidiary Air India Express.

source:moneycontrol.com