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Stock Market News - KPR Mill Falls, NTPC & HDFC Gains

NTPC Gains after CLSA Retains Buy - NTPC shares gained more than a percent intraday after global brokerage CLSA retained its buy call with a target price at Rs 157, implying 22 percent upside on potential SJVN merger.


Eveready Industries in focus - Yes, Bank acquired 39,10,000 (5.38 percent) equity shares of company and 21,21,903 (2.29 percent) shares by invoking pledged on promoters holding.

Himachal Futuristic Communication gains 2% - Himachal Futuristic Communication shares gained 2 percent intraday after its subsidiary bagged order from Bharat Electronics. "Subsidiary HTL has received a purchase order worth Rs 198.82 crore from state-owned company Bharat Electronics," the fiber optic cable manufacturing company said in its BSE filing.

Block Deals
Power Finance Corporation's 6.3 crore shares (representing 2.4 percent of total equity) worth Rs 794 crore exchanges hands in two block deals on NSE at an average price of Rs 125 per share, reports CNBC-TV18.

Mahindra & Mahindra to Announce Q1 Earnings Next Month - M&M said its Board of Directors has scheduled a meeting on August 7, to consider and approve the unaudited standalone financial results for the first quarter ended June 30, 2019.

HDFC Shares Gain after CLSA Raises Target - Housing Development Finance Corporation shares gained a percent intraday after CLSA raised price target of its top pick.

Budget impact:   KPR Mill withdraws share buyback proposal, stock dips 6%

Shares of KPR Mill dipped up to 6 percent to Rs 570 in early morning deals on the BSE on Friday after the textile company withdrew buyback proposal due to the tax proposed on buyback obligations in the Finance Bill 2019.

Gravita India Gains -  After Starting Operations In African Plant Shares of the lead manufacturer rose for the third consecutive trading session and rose as much as 2.3 percent to Rs 58.50. Gravita India started commercial production of aluminum cast alloys from its new plant in Tanzania, Africa, according to an exchange filing.

Rupee Opening - The Indian rupee has opened lower at 68.45 against the US dollar, compared to Thursday's close of 68.44 a dollar.

KPR Mill Slumps -  After Withdrawing Buyback Shares of the apparel, maker fell as much as 6.2 percent to Rs 571.30, the lowest in three months. The company, in an exchange filing, said it will be unable to file a ‘Letter of Offer’ and go forward with the buyback proposal. This increase in the amount of buyback obligation was “neither contemplated nor prevailing” at the time of consideration and the approvals of the board and shareholders, the company said.

Metropolis Healthcare Extends Gain; Shares At Record High Shares of Metropolis Healthcare extended gains for the third consecutive trading session. The stock rose as much as 2.6 percent to hit an all-time high at Rs 1,037. The scrip rose 17.9 percent, the most since its listing on April 12.

Infosys Gains Ahead Of Q1 Results -  Shares of Infosys rose nearly 1 percent intraday to Rs 727.35 ahead of its quarterly results announcement.


Share Market | Rupee | Nifty | NTPC |  Budget Impact | Top Gainers | Block Deal 


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