Stock Market News - Tata Steel top Performer, IRB Infra Hits

Tata Steel Ends Four-Day Fall- Top Nifty Performer Shares of the steelmaker snapped its four-day losing streak and gained close 4.1 percent to Rs 491.80 each. Brokerage firm Goldman Sachs reinstated 'Buy' with a target price of Rs 570 on the stock. On the Indian steel sector as a whole, Goldman said the global activity slowed significantly and China growth concerns impact spreads.

Can Fin Homes Surge- After Promoter Gets Nod To Cut Stake Shares of the housing finance company rose 5.6 percent, the most in a month, to Rs 363 apiece? Canara Bank board permitted to sell stake in the company in part or full, according to an exchange filing. Stake sale to happen at an appropriate time depending on the market conditions and available options, the filing said.

IRB Infra Hits - Five Year Low Shares of the Mumbai-based infrastructure company fell for the third session in a row after it declined 14.2 percent intraday to Rs 89.55 each. National Highway Authority of India is seeking a new investor for Mumbai-Pune expressway as its current agreement with IRB Infra Developers expires in August, according to an Economic Times report citing unnamed sources.

Jain Irrigation plunges 20%: Jain Irrigation Systems shares crashed 20 percent to hit a 52-week low of Rs 21.95 on June 19 after India Ratings cut its long term issuer rating.

Rupee trades higher: The Indian rupee is trading higher by 9 paise at 69.61 per dollar against previous close 69.70.

BPCL arm to invest in LNG project: Bharat Petro Resources, a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL) advises that Mozambique's Offshore Area 1 Concessionaire have on June 18, 2019, in an event in Maputo, Mozambique, announced a Final Investment Decision (FID) on the two-train Area 1 Mozambique LNG project.

HCL Technologies in partnership with Cricket Australia: HCL Technologies (HCL) and Cricket Australia (CA) announced a multi-year partnership, with HCL being chosen as the Digital Technology Partner of CA.

PNB Housing shares fall - Shares of PNB Housing fell on Wednesday by 2 percent.

Top Gainers & Top Losers - Tata Steel, Tata Motors, Indiabulls Housing, NMDC, JSPL, SAIL, Bank of Baroda, Bank of India, SBI and Ashok Leyland are among major gainers on the indices, while losers are BPCL, IOC, and Britannia. All the sectoral indices are trading higher led by PSU bank, metal, infra, auto, energy, IT and pharma.

Source

Market Live | Tata Steel | Jain Irrigation | HCL technologies | Rupee

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Stock Market News - Trade war worries kept base metal prices under pressure in 2019

The trade deal developments and its impact on the global economy remain the trendsetter of commodity prices in 2020. A successful deal will boost global economic activity and improve the demand for base metals. In the past year, trade uncertainty hit global economic sentiments adversely as base metal prices in the domestic futures market settled with moderate gains. Commodities such as copper and lead ended with gains of 8 percent, while aluminium and zinc advanced 6 percent and 4 percent, respectively. Performance of nickel was exceptional with a whopping gain of more than 40 percent. At the same time, price-performance at its key overseas markets was rather steady. Trade war worries that fanned fears of recession roiled the global manufacturing sector last year, particularly China. This because Chinese industries are the key consumers of all base metals. Economic growth in the country tumbled to multi-year lows due to the 17-month trade dispute between the United Sta...

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