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Stock Market News - Affle India Jumps 27%, Tata Steel down

Tata Steel Worst Performer On Sensex, Nifty - Shares of Tata Steel fell as much as 4.1 percent to Rs 366.25 after the company announced its quarterly results for the three months ended June. The stock was the worst performer on Sensex and Nifty.


Block Deal Alert: ICICI Bank About 10 lakh shares of ICICI Bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

NEWS ALERT | Affle (India) listing today. IPO price at Rs 745 per share - Affle India listed at a premium of 24.3 percent at Rs 926 per share on the National Stock Exchange, compared to its issue price of Rs 745. The stock rose as much as 28.7 percent thereafter.

Oil check - At 8:23 am, Brent Crude Futures were at $57.73 per barrel, up 2.67 percent.

Rupee check - The rupee edged lower by 8 paise and closed at 70.89 against the US dollar.

Maruti cuts production by 25% for the sixth consecutive month in July - Maruti Suzuki India cut its production in July by 25.15 percent, making it the sixth month in a row that the country's largest carmaker reduced its output, according to a regulatory filing. The company produced a total of 1,33,625 units in July, compared with 1,78,533 units in the year-ago month, Maruti Suzuki India (MSI) said in a BSE filing.

CATCH-ALL MARKET UPDATES - 
  • India VIX declines 6%
  • Maruti slips over 0.50%
  • Siemens jumps 4% on 21% rise in consolidated net
  • Page Industries trades lower ahead of Q1 results today
  • Aurobindo Pharma up 3% on 40% rise in June quarter profit
  • Tata Steel dips 2% after falling to meet street expectations in terms of profit in June quarter

TOP GAINERS & LOSERS

Indiabulls Housing, Eicher Motors, Adani Port, IOC, HPCL, BPCL, Yes Bank, Hero Motocorp, HCL Tech are among major gainers on the indices in the early trade, while losers include Tata Steel, Cipla, Grasim, Maruti Suzuki, Coal India, ONGC and Asian Paints. Among sectors, except metal other indices are trading higher led by the IT, auto, bank, infra, energy, pharma and FMCG.

HCL Tech Best performer On Sensex, Nifty Shares of HCL Technologies rose as much as 4.8 percent, the most in nearly nine months, to Rs 1,071 after the company announced its June quarterly results.

Adani Gas Q1 net profit grows 44 pct to Rs 79 crore - Adani Gas on Wednesday reported a 44% year-on-year (y-o-y) growth in net profit to `79.31 crores for the April-June quarter of 2019, led by an increase in sales volume and improved operating margins. The sales volume for the June quarter grew 9% on-year to 137 million metric standard cubic meters per day(mmscmd) on the back of strong growth in both piped natural gas (PNG) and compressed natural gas (CNG) segments.

YES Securities on M&M - The company is seeing some green shoots in the form of good monsoons, lower interest rates, some resolution of NBFC crisis, festive season and an expected pre-buy. The segment will see gyrations due to BS-VI norms from April 2020 wherein inventory management will become critical. 


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