Stock Market News - Sun Pharma slips, Sterlite Technologies Jumps

Sun Pharma slips over 2% in early trade

Lakshmi Vilas Bank dips over 6% after Indiabulls Group shares fall on corruption charges.

Indiabulls Housing Finance Worst Performer - On Nifty Shares of the housing finance company fell as much as 6.2 percent to Rs 687.10. The company’s Promoter Twin Star Overseas released entire pledge of 20.74 crore Sterlite Technologies’ shares (52.01 percent) of on June 10, according to an exchange filing.

Sterlite Technologies Jumps - After Promoter Releases Entire Pledge Shares Shares of the optical cables maker extended gains for the second consecutive trading session and rose as much as 11.8 percent to trade at over a one-month high at Rs 194.

DHFL, Vedanta, UltraTech Cement, Tata Steel, IndusInd Bank, ITC, TCS, Coal India are some of the major gainers on the indices, while losers include Indiabulls Housing, Sun Pharma, Eveready Industries, Reliance Power, Suzlon, Reliance Power, Bharti Airtel, Yes Bank, and Britannia Industries. On the sectoral front, buying seen in the bank, energy, metal, IT and FMCG, while selling seen in the infra and pharma stocks.

Rupee Opens: The Indian rupee gained in the early trade on Tuesday. It has opened higher by 20 paise at 69.45 per dollar versus previous close 69.65.

Bank of India cuts the one-year lending rate - Bank of India cuts 1-year lending rate by 5 bps to 8.65% but raises the overnight lending rate by 10 bps. The bank also raises 1-month, 3-month & 6-month lending rate by 5 bps each.

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