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Stock Market News- Tata Steel slips,SBI Life Falls Over 5%

Tata Steel slips over 1%

SBI Life Falls Over 5% - On Investors’ OFS Plans Shares of SBI Life Insurance fell as much as 5.4 percent to Rs 672.35. The company’s foreign partner BNP Paribas Cardif plans to sell up to 2.5 crore equity shares at Rs 650 per share, a discount of 8.5 percent from Monday’s close. The offer shall take place over two trading days on June 25 and June 26. Trading volume was more than 30 times its 20-day average. The stock declined 4.1 percent in the past five days and 1.6 percent in the past 30 days.

Oil Marketers Rally On Falling Crude Prices - Shares of the oil marketing companies rallied after the Brent crude extended declines for the second consecutive trading session and fell 0.85 percent to $64.31 a barrel.

Rupee opens marginally higher at 69.32 per dollar - The Indian rupee opened marginally higher at 69.32 per dollar on Tuesday versus previous close 69.35. On June 24 the Indian rupee has recovered from the low and ended 23 paise higher at 69.35 against the USD amid a weakening of the greenback against other major currencies.

TOP GAINERS & LOSERS - ONGC, NTPC, M&M, Eicher Motors, Bharti Airtel and Oberoi Realty are among major gainers on the indices, while losers are Tata Steel, JSW Steel, Indiabulls Housing, Yes Bank, Zee Entertainment, IndusInd Bank and Tech Mahindra. Among sectors, except energy, all other indices are trading lower led by metal, auto, bank, IT and FMCG.

Eris Lifesciences gains 5%: Shares of Eris Lifesciences gained more than 5 percent in the early trade on June 25 as company board is going to consider buyback of shares.

MARKET UPDATES - 

1. Emami gains over 3% in morning deal
2. Welspun Corp slips 2% in trade
3. Gayatri Projects tanks over 8% in trade
4. Zee Entertainment dips 2%

Promoters sell 10% stake in Emami for Rs 1,230 crore - FMCG conglomerate Emami Group has raised Rs1,230 crore through a stake sale, mainly to be used for reducing debt at the level of the promoter. The company divested 10% stake to marquee institutional investors on the floor of the stock exchange.

Mold-Tek Packaging Surges - The Most In Over Four Months Shares of Mold-Tek Packaging rose as much as 11.8 percent, the most since Feb. 21, to Rs 268.70. The stock has risen six times during this month. Trading volume was more than 60 times their 20-day average. The scrip traded at 19 times its estimated earnings per share for the coming year. 

Welspun Corp Declines -  After Board Approves Buyback Shares of Welspun Corp fell as much as close to 3.5 percent, the most in three weeks, to Rs 135. The company’s board fixed July 5 as the record date for the buyback of about 2.89 crore equity shares.


Market Live | Share Market | Rupee | Crude Oil | SBI Life | TATA Steel | Top Gainers

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