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Stock Market News - Yes Bank, VEDL top gainers, Oil prices steady

Yes Bank, VEDL top gainers - Yes, Bank shares are trading 1.8% higher at Rs 105, while VEDL shares are up about 1% to Rs 168.50. Tata Motors, Sun Pharma shares are among the biggest losers, shedding more than 1% each. 


Oil prices steady after falling to more than one-week lows - Oil steadied after falling more than 3% overnight, with U.S. crude trailing Brent after U.S. inventory data fell short of expectations, amid conflicting signals from the U.S. and Iran over the disputes that have roiled prices recently. Brent crude futures were up 16 cents at $64.51, or 0.3% by 0027 GMT. 

NEWS ALERT | 

  • L&T Infotech to acquire Lymbyc Solutions for an enterprise value of Rs 38 cr in an all-cash deal: CNBC TV18
  • Greaves Cotton sought certain relaxations from SEBI and Finance Ministry w.r.t share buyback.
  • Cox & Kings on July 16 said it defaulted in repayment of interest of Rs 50 crore on NCD.
  • Astron Paper & Board Mill, on July 16, said its unit-1 in Halvad, Gujarat will be shut during July 16-20 for scheduled preventive maintenance of boiler/power plant.

Gold inches down as strong US retail sales lift the dollar - Gold prices edged lower on Wednesday but still held above the psychological $1,400 level, as the dollar gained after robust U.S. retail sales tempered fears of a sharp downturn in the world’s largest economy. Spot gold was down 0.1% at $1,405.26 per ounce, as of 0104 GMT. U.S. gold futures slipped 0.3% to $1,406.90 an ounce.

NTPC Commissions First Unit of Nabinagar Plant - State-owned power producer NTPC said it has commissioned the first unit of 660MW capacity under Nabinagar Super Thermal Power Project. With the addition of this project, the total installed capacity of the company has reached 55,786MW, it added.

KNR Constructions Likely to Open Higher - KNR Constructions shares rallied 4 percent intraday after the company received work order from Navayuga Engineering. Company in its BSE filing on July 16 said it has received a work order for Rs 847.34 crore from Navayuga Engineering Company Limited, Hyderabad. The company received orders worth of Rs 847.34 crore from Navayuga Engineering Company.

Rupee Trade: The Indian rupee was unchanged at 68.71 a dollar in opening trade.

CATCH-ALL MARKET UPDATES
  • Vodafone Idea dips 0.85%
  • YES Bank up over 1%
  • GAIL India dips over 1%
  • Tata Steel slips 0.6%
  • Maruti Suzuki slips 0.5%
  • SpiceJet rises over 2%
  • CG Power dips over 4%
  • Mindtree zooms nearly 1%
  • Federal Bank slips over 1%
  • Strides Pharma falls over 5%
  • Indian Oil Corp gains over 1%
  • Eveready Industries slips over 1%
  • Wipro trades flat ahead of Q1 nos
  • IndiGo trades flat with positive bias
  • HDFC AMC extends gains, up 5%
  • MCX climbs over 4% after Q1 profit
  • Tata Elxsi trades lower after Q1 results
  • Jay Bharat Maruti is trading over 4% lower
  • DCB Bank slips 12% lower on weak Q1 nos
  • Cox & Kings locked in 5% lower circuit on fourth default
  • Jet Airways gains nearly 4% as lenders decide eligibility criteria for bidders
DCB Bank Tanks 14% - DCB Bank shares plunged 14 percent intraday after the lender reported the dismal set of earnings for the quarter ended June 2019. Profit during the quarter grew by 17 percent to Rs 81.1 crore and net interest income increased 11.7 percent to Rs 304.8 crore compared to the year-ago period.

ACC, Ambuja and Shree Cement likely to see volume decline of 4-13%
Cement companies are facing a slowdown in demand, with volumes growing at the slowest pace in six quarters. This comes even as realizations and lower costs have provided some comfort. Demand, which had remained strong in March, has slipped since, in what is usually a good season.


Market News | Rupee | Crude | Oil Prices | Bank Nifty | Top Gainers | Yes Bank
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