Market - Bharti Airtel gains,ITI Jumps over 9%,Asian Paints Falls

Bharti Airtel gains - Bharti Airtel shares are trading 1.2% higher at Rs 358.40, while Lakshmi Vilas Bank shares slumped by nearly 4% lower at Rs 93.60 on NSE after the RBI said that it has not given the approval to proceed with Indiabulls Housing Finance merger.

Bharti Airtel, Zee Entertainment, HCL Tech, Wipro, HUL, Britannia Industries are trading with marginal gains, while lowers are Dhanlaxmi Bank, Asian Paints, BPCL, Sun Pharma, Gail, Kotak Mahindra Bank, Tata Motors HCPL and IOC. Among sectors, auto, bank, energy and pharma are witnessing some selling pressure, while buying seen in the metal and FMCG stocks.

Rupee Opens: The Indian rupee opened marginally higher at 69.59 per dollar on Tuesday versus previous close 69.67.

Infosys Surges To Record - Shares of Infosys extended gains for the second consecutive trading session and rose as much as 0.75 per cent to hit an all-time high at Rs 773. The stock advanced 36 per cent in the past 12 months compared to a 15 per cent gain in the Sensex. Infosys traded at 21 times its estimated earnings per share for the coming year.

Asian Paints Falls - After Reporting Fire Accident, CLSA Downgrade Shares of the paintmaker fell as much as 2.9 per cent to Rs 1,470. The company said a fire broke out in its Vishakhapatnam facility in Andhra Pradesh, in an exchange filing. The company said it was in the process of assessing the extent of damage and manufacturing operations of the plant were affected.

ITI Jumps - After Turnover Rises 20% In FY19 Shares of ITI rose as much as 9.4 per cent, the most since Jan. 21, 2019, to Rs 106.90. The company reported a turnover of Rs 2,051.59 crore during 2019-20, an increase of 20 per cent from the year-ago period, according to its stock exchange filing.

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