Stock Market News - Jet Airways all Time Low, HDFC AMC Falls

Jet Airways Falls - Shares of the cash-strapped airline slumped 10 percent intraday to hit an all-time low of Rs 61.60 each. Lenders of Jet Airways will take the company to National Company Law Tribunal and will seek resolution under the Insolvency and Bankruptcy Code, according to a statement issued on behalf of lenders on Monday.

HDFC AMC Falls - The Most In Six Months Shares of the asset management company fell as much as 6 percent, the most since Dec. 21, 2018, to Rs 1,816.60. In a move to rescue investors of its fixed maturity plans, the asset management company will purchase Essel Group companies’ non-convertible debentures of up to Rs 500 crore, thereby transferring any loss (or gain) due to the investment from investors to itself

Rupee Opens: The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.

Top Gainers & Losers - IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata Steel, Zee Entertainment are some of the major gainers on the indices, while losers are SBI, Yes Bank, Indiabulls Housing, HUL, and ONGC. Among the sectors, except FMCG all other indices are trading in the green led by metal, pharma, infra, auto, and bank.

Market Update -

1. Dabur slips over 4% after Goldman Sachs downgrades it to 'sell'

2. Reliance Home Fin slips over 7%

3. Mcleod Russel slips over 4% on rating downgrade - ICRA has downgraded ratings of the company

4. SpiceJet gains over 3%

Maharashtra Scooters Falls - After Bajaj Buys Majority Stake Shares of the auto-parts maker ended its seven-day gaining streak and fell 2.9 percent to 4,555 apiece. Bajaj Holdings paid Rs 222 crore to WMDC to acquire 27 percent stake in Maharashtra Scooters and hiked shareholding to 51 percent, according to an exchange filing.

Sandhar Technologies gains 2%: Sandhar Technologies gained 2.5 percent as the company signed a JV agreement with South Korean company.

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Stock Market Update - Avanti Feeds Gains, Tata Group Stocks Trade Mixed

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