Market Update - Zee Enterprises jump,GAIL falls over 3%, Lupin Jumps

GAIL India falls over 3%. - The PSU had emerged as the highest bidder for operating seven wind power plants of Infrastructure Leasing and Financial Services (IL&FS). The group has Rs 4,800 crore of wind assets and total debt of the wind portfolio stands at Rs 3,700 crore and there will be no haircut of lenders, the release said.

Lupin Jumps - After Morgan Stanley Upgrade Shares of the drugmaker rose 4.1 per cent intraday to a nearly a three-month high of Rs 866 apiece. Brokerage firm Morgan Stanley upgraded its recommendation on the stock to ‘Overweight’ from ‘Equal-Weight’. Also, the price target was hiked to Rs 1,094 per share.

Tejas Networks jumps 10% - The share price of Tejas Networks jumped 10.5 per cent intraday Tuesday after the company reported strong numbers for the quarter ended March 2019. The company posted a 23 per cent increase in consolidated net profit for January-March 2019 quarter at Rs 35.89 crore.

Zee Enterprises, Bharti Airtel shares jump - Zee Entertainment shares are trading 2.3% higher at Rs 405.50 on NSE, while Yes Bank shares are higher by 1.3% to Rs 241.45.

IndusInd Bank, ITC, Cipla, Lupin, Zee Entertainment, Tata Steel, are among major gainers on the indices, while losers are Gail, BPCL, IOC, HPCL, Yes Bank, PC Jewellers, Reliance Infra, Reliance Communications and Indiabulls Housing. Among sectors, except energy and IT, all other indices are trading in green.

Rupee Opens: The Indian rupee opened marginally higher at 69.62 per dollar on Tuesday versus previous close 69.67.

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