Escorts July Sales Decline 13%;- Shares Fall 4% Escorts Ltd. sold 4,860 tractors last month, a fall of 13.4 percent from the year-ago period, according to its exchange filing. Shares of the company fell as much as 4 percent to Rs 451.10 after the announcement.
Zee Entertainment Second-Worst Performer On Nifty Shares of Zee Entertainment fell as much as 3.9 percent to Rs 347.45. The stock was the second-worst performer on Nifty. Invesco Oppenheimer Developing Markets Fund plans to acquire up to 11 percent stake in the company for Rs 4,224 crore from the promoters. That media firm said that it has initiated the process of divesting key assets, with the aim to repay all lenders by September.
NEWS ALERT| Expect big fall in domestic motorcycles sales in July: Rajiv Bajaj, MD, Bajaj Auto to CNBC TV18
-- No signs of green shoots in demand yet
-- Think July numbers will continue to be weaker
-- Domestic 2-wheelers might continue to decline in Aug
Reliance Capital Extends Gain; Shares Jump 10% In Two Days Shares of Reliance Capital extended gains for the second consecutive trading session. The stock advanced 10 percent in two days. The company said that it has fully repaid its commercial papers on due date and the outstanding amount stands at zero from the peak of Rs 3,500 crore.
Lemon Tree Hotels Pare Opening Losses After Block Deal Shares of Lemon Tree Hotels pared opening losses and rose as much as 1.3 percent to Rs 60.60. About 16 lakh shares of the company changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Rupee opens weak: The Indian rupee slipped in the early trade on Thursday. It has opened lower by 41 paise at 69.20 per dollar versus previous close 68.79. The rupee has opened at the lowest level since June 27.
Zee Entertainment, Yes Bank top losers - Zee Entertainment shares slumped by more than 2.2% to Rs 352.20 after the firm announced that after Oppenheimer Development fund agreed to pick up 11 percent of promoter stake in the firm for Rs 4,224 crore.
CATCH-ALL MARKET UPDATES -
- Vedanta slips 2%
- UPL trades 1% lower
- Hubtown soars 14%
- HPCL trades 1% lower
- Wipro gains on weaker rupee
- HDFC Life Insurance gains 1%
- Ajanta Pharma gains nearly 3%
- Godrej Industries dips over 4%
- Eicher Motors hits a 52-week low
- McLeod Russel hits 5% upper circuit
- Tata Global Beverages gains over 2%
- ICICI Prudential Life Insurance up 1.5%
- Ashok Leyland gains 3% in a weak market
- Coffee Day Enterprises hits 10% lower circuit
- Bharti Airtel trades with losses ahead of Q1 results
- Cholamandalam Investment and Fin trade 2% higher
- IndusInd Bank holds gains, trades flat during early trade
Dilip Buildcon gets a letter of acceptance: we are pleased to inform you that the Company has received the letter of acceptance (LOA) on July 30, 2019, from the Ministry of Road Transport & Highways, New Delhi for a new EPC project in the state of Karnataka.
Sun Pharma announces the regulatory filing of Tildrakizumab in Japan: Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has filed an application for manufacturing and marketing authorization of Tildrakizumab for moderate-to-severe psoriasis and psoriatic arthritis with the Pharmaceuticals and Medical Devices Agency (PMDA), Japan.
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