Stock Market News- Indiabulls Real Estate up 5%, Manappuram Finance slips.

Indiabulls Real Estate Jumps Over 15% - After Block Deals Shares of Indiabulls Real Estate rose as much as 14.7 percent to Rs 151 On Bombay Stock Exchange. The stock rose as much as 10.1 percent to Rs 144.70 On National Stock Exchange. About 5.79 crore shares or 12.8 percent equity of the company changed hands in a 24 block deals on BSE.

Block Deal: Reliance Power About 13.8 lakh shares of Reliance Power changed hands in a block deal.

Manappuram Finance slips over 8% - Sebi has sent notice to Manappuram Fin for insider trading.

Rupee Opens: The Indian rupee opened higher at 69.19 per dollar on Friday against previous close 69.27.

BPCL, HUL, RIL, Maruti Suzuki are among major losers on the Indices, while gainers are Indiabulls Housing, Yes Bank, Gail, Zee Entertainment, IndusInd Bank, Godrej Properties and Page Industries. Among the sectors, metal, bank and IT are trading higher, while some selling was seen in the energy, FMCG and pharma.

Hindustan Unilever slips over 1%

Eros Locked In Lower Circuit - Shares of the media company was locked in the lower second-straight day after it declined 20 percent intraday to Rs 42.50 each. Eros Plc—the promoter of the Indian listed entity said the arm was late two loan interest payments for April and May 2019, in an exchange notification.

HDFC Bank appoints MSMK & Assoc as auditors: RBI previously had rejected the appointment of SR Batliboi as an auditor

Merger of Lakshmi Vilas Bank and Indiabulls Housing Fin to be done in 9-12 months: Ajit Mittal

Lakshmi Vilas Bank gains 5% - Ajit Mittal told CNBC TV18 this morning that stake sale in Indiabulls Real Estate done to expedite merger of Indiabulls Housing Fin with LVB

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Stock Market News - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

A salaried professional opting for a lower rate of tax under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. Removal of tax exemptions under Section 80C in the new tax regime could be a dampener for life insurance products as well as equity-linked savings schemes (ELSS) of mutual funds. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman said a salaried professional opting for a lower tax rate under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. “The removal of 80C benefit may pose a risk to new business volumes of life insurance companies,” said Kotak Institutional Equities in a report. Life insurance Tax exemptions are an important incentive for purchase of life insurance. To be eligible for exemption under Section 80C, the sum assured has to be 10 times the annual premium. This is part of the Rs 1.5 lakh limit under ...

Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm. India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading...

Stock Market News - FDC share price at 52-week high on GMP certificate from UK health regulator

The certificate came after a recent inspection of the company's facilities in Goa. FDC share price touched a 52-week high of Rs 222, rising more than 5 percent in the morning trade on January 3 after the company received the good manufacturing practice (GMP) certificate from the UK's health regulator. The UK's Medicines and Healthcare Products Regulatory Agency also continued with its approved status for the company's two facilities in Verna, Goa. The GMP certificate was issued after a recent inspection of the two plants. At 1018 hours, FDC was quoting at Rs 218.00, up Rs 7.30, or 3.46 percent. The share price has risen 30 percent in the last three months. GNFC share price down 2% after DoT seeks Rs 15K cr in telecom dues DoT sent the company a demand notice for Rs 15,019 crore, taking to Rs 3.13 lakh crore the amount it has sought from non-telecom companies following a Supreme Court ruling. The share price of Gujarat Narmada Valley Fertili...

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