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Stock Market News - Intellect Design Falls, Sandhar Technologies Gains

Intellect Design Falls - After Q1 Profit Drops 92% Shares of Intellect Design Arena fell as much as 15 percent, the most in nearly three years, to Rs 211.50 after the company’s profit fell 92 percent on a sequential basis in June quarter.


Sandhar Technologies Gains  - After Signing Pact Shares of Sandhar Technologies rose as much as 1.7 percent to Rs 273.95. The company signed pact for a Joint Venture with Korea’s Han Shin Corporation for manufacturing and selling electronic parts and accessories for the automotive industries in India.

Sharda Cropchem slips 5% on weak Q1 result - Sharda Cropchem posted consolidated revenue of Rs. 423 crore as against Rs. 456.13 crore in the corresponding quarter last year, registering a 7.26 percent YoY decrease

Rupee opening - Rupee opens flat at 68.98/$ vs Wednesday's close of 68.97 against the US dollar

NEWS ALERT | DFS secy Rajiv Kumar, likely to be appointed as Finance Secretary: sources to CNBC TV18
-- Transfer is on the basis of merit and seniority

Alert: DFS is the Department of Financial Services
 Former Finance Secretary Subhash Chandra Garg was moved to Power Ministry yesterday

CATCH-ALL MARKET UPDATES - 
  • PVR slips in trade
  • Cipla rises over 3%
  • Bosch gains over 1%
  • 5paisa Capital gains 5%
  • IDFC First Bank gains 2%
  • Oberoi Realty slips over 3%
  • Biocon dips during early trade
  • Emami trades over 1% higher
  • Syndicate Bank falls over 2%
  • IndusInd Bank gains over 2%
  • Bharti Infratel gains over 5%
  • Nifty Pharma index gains 1.8%
  • Jet Airways locked in 5% lower circuit
  • Cox & Kings hit another 52-week low
  • Hindalco Industries trades in the green
  • Sadbhav Engineering gains nearly 6%
  • Bajaj Holdings & Investment up over 2%
  • YES Bank trades flat with positive bias
  • Marathon Nextgen Realty zooms over 18%
  • Torrent Pharma trades flat with negative bias
  • ICICI Prudential Life Insurance gains nearly 3%
  • Shriram Transport Finance Co trades 6% higher
  • Cholamandalam Investment and Finance Co trades over 2% higher

ICICI Prudential jumps 4%: The share price of ICICI Prudential Life Insurance Company gained 4 percent on July 25 post-June quarter numbers. The company's Q1FY20 net profit rose 1.2 percent to Rs 284.9 crore against Rs 281.6 crore in the same quarter last year.

TOP GAINERS & LOSERS - 

The major gainers on BSE are IndusInd Bank, Sun Pharma, and Bajaj Auto, whereas the losers are Tata Motors and ONGC. Stocks of Yes Bank and Bharti Airtel are in focus today. While rating agency ICRA has downgraded Yes Bank’s Basel III Compliant Tier I and Tier II bonds with a negative outlook, a government panel on Wednesday approved a combined penalty of Rs 3,050 crore on telecom companies Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Industries’ telecom unit Jio when it resumed operations in 2016,

Bharti Infratel Shares Rally 6% - Shares of Bharti Infratel rallied nearly 6 percent intraday as Morgan Stanley retained positive stance on the stock after strong Q1 show. While having an overweight call on the stock with a target price at Rs 323 (implying a 22 percent potential upside from current levels), the global brokerage house said revenue in Q1FY20 was in-line with its estimates.


Share Market | Rupee | Nifty | Top Gainers | Bharti Infratel | Intellect Design


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