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Stock Market News -L&T Top Gainer, Emami Falls After A Block Deal

L&T Top Gainer - On Sensex, Nifty After Order Win Shares of Larsen & Toubro rose as much as 1.5 percent to Rs 1,563.45. The stock was the top gainer on Sensex and Nifty. The company based an EPC order from SJVN Thermal to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar, according to its stock exchange filing. The order is valued at over Rs 7,000 crore as per the company’s order.


Emami Falls After A Block Deal -  Shares of Emami extended declines for the tenth consecutive trading session, their longest losing streak in over a year. The stock fell as much as 5.9 percent to trade at near a five-year low at Rs 272.10. About 3.27 crore shares or 7.2 percent equity of Emami changed hands in a block deal.

IndusInd Bank Gains On Promoters’-  Fund Raising Plans Shares of IndusInd Bank rose as much as 2.5 percent to Rs 1,485. The Hindujas will pump another Rs 2,700 crore into IndusInd Bank Ltd. through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial Inclusion Ltd., a senior official from the private sector lender told PTI. The stock declined 8.2 percent so far this

SBI Life Gets Its Third-Most Bullish Price - Target Yet Shares of SBI Life Insurance is expected to touch Rs 850. That’s according to brokerage and research firm Morgan Stanley, which initiated coverage on the stock with an ‘Overweight’ rating. Shares of the life insurer rose as much as 1.3 percent to Rs 709 in today’s trade.

Market Live Updates - 

1. Piramal Enterprises gains 4%
2. Hero MotoCorp dips over 2%, the top loser in the Sensex pack
3. Glenmark Pharma slips nearly 4% in trade
4. GG Engineering slips over 13% in trade
5. CG Power rises 3% after Kanjurmarg land sale
6. Suzlon Energy trades over 10% higher
7. Hotel Leelaventure zooms over 14%

Rupee Opening: The Indian rupee opened at 69.60 against the US dollar on June 24, falling 5 paise compared to Friday's close of 69.55 a dollar.

TOP GAINERS & LOSERS - Yes Bank, IndusInd Bank, L&T, UPL, Bharti Airtel and Zee Entertainment are early gainers while Dr. Reddy's Labs, Tech Mahindra, Bharti Infratel, Reliance Industries, Hero Motocorp, Axis Bank, and Indiabulls Housing Finance were losers. Nifty Bank gained 0.3 percent. The nifty Midcap index was up 20 points. CG Power, Bandhan Bank, Balrampur Chini, Dhampur Sugar, and JMC Projects gained 1-8 percent. Reliance Capital, Sobha, Motherson Sumi, and Glenmark Pharma were under pressure.

IndiaMart Raises Money Via Anchor Book - A day before the issue opened, IndiaMart already raised more than Rs 213 crore from 15 anchor investors including ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP, etc.

Bandhan Bank is trading 2% higher - the National Company Law Tribunal (NCLT) has directed Bandhan Bank to convene a meeting of its equity shareholders to approve the proposed merger with Gruh Finance.

BHEL gains over 1% - It has won an order worth Rs 840 crore from an NTPC subsidiary for emission control equipment.

Lupin gains over 2% - As per news reports, Credit Suisse has upgraded the stock to outperform with the target price of Rs 860 per share.

L&T bags order from SJVN to set up a power plant in Bihar - Larsen & Toubro has won an order from SJVN's arm SJVN Thermal to set up a 2*660 megawatt power plant in Buxar, Bihar. 


Sensex | Market News | Block Deal | Stocks To Buy | Rupee | Crude Oil 


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