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Share Market Update: Sensex up 80 points, Nifty Fluctuate In Open; L&T down 2%

Stock Market India Live Updates: The domestic stock markets –Sensex and Nifty–opened marginally higher on Monday, tracking positive global cues. The Sensex is up about 80 points to 36,467.18 while the Nifty is trading above the 10,900-mark. L&T shares plunged by more than 3.2% after the firm announced Saturday that Securities and Exchange Board of India (Sebi) has advised against proceeding with the proposed Rs 9,000 crore share buyback. RIL shares extended gains, zooming by more than 1.3% to Rs 1,198.60.



L&T Worst Performer On Sensex, Nifty After SEBI Rejects Buyback
Shares of the country’s largest construction company declined for the second day and fell as much as 3.4 per cent, the most since in over three months to Rs 1,273.45, its lowest levels since Oct. 31.

The Securities and Exchange Board of India adviced L&T against Rs 9,000 crore buyback offer since the debt ratio after buyback would be more than twice capital & reserves. The company had proposed to buyback 610 lakh shares at price of Rs 1,475 apiece.

Here are the stocks that are in news today:

Results Today: Kotak Mahindra Bank, GHCL, Hindusthan Zinc, Sasken Tech, Zensar Tech, HUDCO, Just Dial, L&T Financial, Union Bank of India, Amket Auto

HDFC Bank- Net profit up 20.3% at Rs 5,585.8 crore, Net Income Interest up 21.9% at Rs 12,576.7 crore.

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