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Stock Market News - BHEL slips, Cox & Kings Hits, Sobha Drops

BHEL slips almost 1% - NMDC issues termination notice to BHEL on Rs 1,400-crore steel plant contract due to delay in project completion.


Tata Steel dips marginally - European arm's CEO Hans Fischer will step down, effective July 1.

Rupee Opens: The Indian rupee opened higher at 69.01 per dollar on Friday against previous close 69.06.

Block Deal Alert |

Bharti Airtel, Power Finance, UPL Bharti Airtel: About 12 lakh shares changed hands in a block deal. 
Power Finance: About 5.6 crore shares or 2.1 percent equity changed hands in a block deal. 
UPL: About 16 lakh shares changed hands in a block deal. 

NEWS ALERT | 

Glenmark Pharma gets US FDA nod for Ezetimibe & Simvastatin tablets. Ezetimibe is used to treat high blood cholesterol. Simvastatin is used to decrease elevated lipid levels

NCLT approves the merger of Excel Group and Sumitomo Chem. National Company Law Tribunal, Mumbai Bench, approved and sanctioned the scheme of amalgamation for the merger by absorption of Excel Crop Care with  Sumitomo Chemical India.

Rupee opening - Rupee opens stronger at 69.01/$ vs Thursday's close of 69.06 against US dollar

G20 Summit | PM Modi meets US President Donald Trump

- Both sides talked about concerns on trades

- PM Modi said it's important for the US and India to collaborate

STOCKS UPDATE - 

1 Sadbhav Engineering slips 1.5% in early trade

2  Lupin Pharma gains over 3% - The company gets USFDA tentative approval for a generic version of Myrbetriq tablets used to treat overactive bladder.

3  Heavyweight ICICI Bank trims gains on Sensex

4  Eros International Media slips 5%

5  Sadbhav Infra tumbles over 8%

Cox & Kings Hits -  Lower Circuit For Third Day Shares of Cox & Kings hit their lower circuit of 10 percent for the third consecutive trading session to trade at a record low at Rs 36.80. The company defaulted on payment of commercial papers worth Rs 150 crore, according to its stock exchange filing. 

Sobha Drops Over 7% - Shares of the Bengaluru-based real estate developers declined in today’s trade. This after the Karnataka government is contemplating a five-year ban on construction of multi-storeyed residential buildings in view of the acute water crisis, PTI reported quoting Deputy Chief Minister Dr. G Parameshwara. Shares of Sobha fell as much as 7 percent to Rs 507, while shares of Purvankara fell as much as 6 percent to Rs 69.40.

Corporation Bank Surges - On Heavy Volumes Shares of the state-run lender extended gains for the third consecutive trading session. The stock rose as much as 11.3 percent, the most in over four months, to Rs 26.50. Trading volume was almost 50 times its 20-day average. The scrip advanced 11 percent in the past five days and gained 1 percent in the past 30 days.


Market Updates | BHEL | Block Deal | G20 Summit | Rupee | TATA Steel | Cox & Kings
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