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Market News - DHFL shares down, GAIL Falls

DHFL Plunges To Over Five-Year Low Shares of the non-banking lender declined as much as 18.3 percent to Rs 91.30 apiece, its lowest since December 2013. CARE ratings downgraded all borrowings of DHFL to D from BBB-, according to its statement. Also, its commercial papers were downgraded to ‘D’ (Default) by CRISIL and ICRA owing to liquidity concerns.



Rupee Opens: The Indian rupee opened lower by 14 paise at 69.40 per dollar on Thursday versus Tuesday's close of 69.26.

IndusInd Bank, SBI, ICICI Bank, DHFL Gail, Indiabulls Housing, Yes Bank, Zee Ent, Tech Mahindra, Ultratech Cement, Grasim, Bharti Infratel are among major losers, while gainers are IOC, Tata Motors Bajaj Auto, Lupin and NTPC. Among the sectors, PSU banks and IT space trading under pressure, while auto, FMCG and metal trading with marginal gains.

GAIL Falls On Lower-Than-Expected - Tariff Hike Shares of the state-owned gas distributor fell 9.7 percent intraday, the most in eight months, to Rs 323.40 per share. The Petroleum & Natural Gas Regulatory Board approved an integrated tariff rate for two of the key pipelines managed by GAIL.

Eros Locked In Lower Circuit -  After Care Downgrade Shares of the media company was locked in the lower circuit after it slumped 20 percent to an all-time low of 53.15 apiece. CARE Ratings downgraded Eros International Media Ltd.’s long-term and short-term bank facilities to ‘D’, or default rating, citing delays and default in its debt servicing ability.


Market News | DHFL | GAIL | RUPEE UPDATE | EROS
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