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Stock Market News - Bharti Airtel tanks 10%, Nifty wiped out 2019 gains

Bharti Airtel Top Performer On Sensex, Nifty Shares of Bharti Airtel rose as much as 4.6 percent, the most since May 24, to Rs 338.90 after the company announced its quarterly results for the three months ended June.

NEWS ALERT | 
  1. Govt invites applications for the post of RBI Deputy Governor, by Aug 3. Alert: Deputy Gyv Viral Acharya quit office on July 2.
  1.  DSP says, suing DHFL for the amount due before the inter-creditors' agreement was signed: sources to CNBC TV18 -- Don't want to de-rail DHFL resolution process: DSP -- ICA signed on June 29; DSP's amount due on June 25
  1. HDIL a/c already NPA for YES Bank: sources to CNBC TV18

MARKET ALERT| 10-yr government bond yield opens at 6.31%

 1   July Auto Sales | Tata Motors
  • -- JLR sales at 8,476 units, up 4.8% YoY
  • -- Jaguar sales at 2,020 units, up 7.4%
  • -- Land Rover at 6,456 units, up 4% YoY

2    Metals slip on trade war concerns
  • -- Jindal Steel Hisar, Hindustan Zinc, JSW Steel, Vedanta hit a 52-week low

Bharti Airtel posts first quarterly loss in 10 years, at Rs 2,866 crore The company was able to retain its top spot in the market in terms of revenue as its top line was up 2.8 percent at Rs 15,345 crore. Vodafone Idea posted revenue of Rs 11,269.9 crore in the June quarter and Reliance Jio’s revenue was Rs 11,679 crore.

Block Deal Alert: Tech Mahindra, Vodafone Idea Tech Mahindra: About 12.7 lakh shares changed hands in a block deal. Vodafone Idea: About 13.8 lakh shares changed hands in a block deal.

Rupee opening - Rupee opens lower at 69.25/$ vs Thursday's close of 69.05 against the US dollar

Nifty wiped out 2019 gains: Indian indices continued the downtrend on August 2 with Nifty erased all its 2019 gains, while Bank Nifty breached 28,000 level. At 09:36 hrs IST, the Sensex is down 369.31 points or 1.00% at 36649.01, and the Nifty down 111.70 points or 1.02% at 10868.30. About 309 shares have advanced, 1053 shares declined, and 38 shares are unchanged. 

CATCH-ALL MARKET UPDATES - 
  • HCC gains 5%
  • Indian Bank slips 2%
  • Vedanta sheds over 3%
  • Hero MotoCorp slips 3%
  • Apollo Tyres dips over 2%
  • Ashok Leyland dips over 4%
  • Bharti Airtel tanks 10% in Pre-Open
  • Hindustan Petroleum slips over 1%
  • Vodafone Idea slips 3% in Opening Trade
  • Bharti Airtel gains 2% despite Rs 2,866 cr loss in Q1
  • Talwalkars Health clubs slide 5% on interest payment default

Talwalkar Group Stocks Hit Lower Circuit -  Shares of Talwalkars Better Value Fitness and Talwalkars Health clubs hit their lower circuit of 5 percent Talwalkars Better Value Fitness defaulted in the payment of term loan’s interest aggregating to Rs 94 lakh which was due on July 31 while Talwalkars Health clubs defaulted in payment of loan interest worth Rs 2.5 crore which was due on July 31.

Indians sell a record amount of old gold as prices hit 7-year-high
The report stated consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when the old gold sale, or scrap supply, was 39 tonnes. Gold jewelry sold and repurchased, or remaking gold, is not calculated as part of the old gold sale.


Market News | Bank Nifty | Rupee | Crude | Gold | Bharti Airtel | Q1 Result 

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