Market News- Jet Airways in focus, Arvind Fashions Hits 5 %, RIL Top Loser

Jet Airways in focus: Lenders to the airline will look for equity infusion from a new investor to replace Etihad. The new investor is likely to be an investment fund. Banks may initiate talks with few investment funds that conducted due diligence on the company. Also, lenders are looking at the option of asking Etihad, Naresh Goyal to pledge their shares.

Jubilant Life Sciences Falls - After Block Deal Shares of the life sciences company fell as much as 7 per cent to Rs 782.55. About 33 lakh shares of the company changed hands in a block deal. While buyers and sellers were not known immediately “Jubilant Employee Welfare Trust to sell 35 lakh shares in Jubilant Life Sciences Ltd. to raise at least Rs 367 crore ($39 million) at the floor price.

Rupee opens marginally lower ahead of Fed decision - The Indian rupee on Wednesday was trading marginally weaker against the US dollar, tracking losses in Asian currencies as traders wait for the Federal Reserve’s policy decision amid the latest uncertainties surrounding the US-China trade negotiations.

At 9.05am, the rupee was trading at 69.11 a dollar, down 0.2% from its previous close of 68.96. The home currency opened at 69.05 a dollar.

Vedanta, Infosys, L&T, TCS and Axis Bank are the top gainers on the Sensex.

Crude Update: Oil prices dipped on Wednesday, retreating from a four-month high as economic growth concerns dampened the outlook for fuel consumption.

Arvind Fashions Hits 5 % - Upper Circuit For Eighth Day Shares of Arvind Fashions continued to hit an upper circuit of 5 per cent for the eighth consecutive trading session. The stock rose nearly 48 per cent since its listing on March 8. Trading volume was almost 40 times its 20-day average.

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