Stock Market News - Titan Hits, DHFL Rises, J&K Bank slips

Titan Hits Record High - Shares of the country’s largest jewelry maker rose as much as 1.4 percent to hit an all-time high at Rs 1,286.60. The stock advanced 43 percent in the past 12 months compared to a 13 percent gain the Sensex. The relative strength index stock was above 70, indicating the stock may be overbought.

DHFL Rises - After Clearing Dues Of Retail Investors Shares of the housing finance company rose as much as 7.2 percent to Rs 89.30 The company paid investors and depositors part of repayments due after missing the deadline earlier this week.

Reliance Infra Slumps - After Board Defers Q4 Results Shares of Reliance Infra extended fall for the fifth consecutive trading session and is poised for their longest losing streak in over nine months. The stock fell as much as 9.2 percent to hit an all-time low at Rs 67.15.

Rupee Opens: The Indian rupee opened higher at 69.45 per dollar on Monday versus Friday's close 69.47.

J&K Bank slips 20% - Parvez Ahmed, who was removed as the Chairman of the J&K Bank, was allegedly involved in corruption, nepotism, and favoritism.

L&T Gains - After Winning Orders Shares of the country’s largest construction company rose as much as 1.9 percent to Rs 1,542. The company bagged orders for various businesses valued at Rs 2,500-Rs 5,000 crores, according to its stock exchange filing.

Indiabulls Housing, Vedanta, Tata Steel, Zee Entertainment, Yes Bank, IndusInd Bank, SBI, DHFL, Edelweiss Financial, Manappuram Finance, India Cements are among major gainers on the indices in the early trade, while losers are J&K Bank, Reliance Power, Reliance Capital, Reliance infra and PC Jeweller. All the sectoral indices are trading in the green led by PSU bank, infra, IT, FMCG, auto, metal, and pharm.

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