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Stock Market News - Balkrishna Industries Falls, Sun Pharma, Yes Bank plunge up to 5%

Balkrishna Industries Falls After Macquarie Initiates Coverage Shares of Balkrishna Industries extended declines for the third consecutive trading session. The stock fell as much as 6.6 percent to Rs 682. Brokerage and research firm Macquarie initiated coverage on the stock with ‘Underperform’ rating and a price target of Rs 575.


NEWS ALERT | 

India's August gold imports hit three-year low as prices jump to record: govt sources to Reuters -- India’s gold imports in August plunged 73% from a year ago to the lowest level in three years

IndiaMART Swings After Stake Acquisition Plans Shares of IndiaMART InterMESH fluctuated between gains and losses to trade little changed at Rs 1,200. The company plans to acquire 26 percent stake in Simply Vyapar App for Rs 31.2 crore, according to its stock exchange filing. The stock rose 2.2 percent in the past five days and returned 2.4 percent in the past 30 days, according to Blomberg da

ICICI Lombard Extends Decline For Second Day Shares of ICICI Lombard General Insurance Company Ltd. extended declines for the second consecutive trading session. The stock fell as much as 5.4 percent to Rs 1,125.65. The Insurance Regulatory and Development Authority of India has waived off the earlier imposed lock-in period on the equity shares held by Fairfax. Earlier the lock-in period was till

Sun Pharma, Yes Bank plunge up to 5% - Sun Pharma, Yes Bank shares were among the biggest losers in trade on Wednesday morning, shedding up to 5%. The headline indices Sensex and Nifty opened lower on Wednesday, tracking mixed global cues.  The Sensex was trading 52 points down at 36,512.30, while the Nifty was trading below the 10,800-mark at 9.20 am. 

CATCH THE ALL MARKET UPDATES -
  • DLF slips 3.2%
  • IndusInd Bank sheds 2%
  • Ashok Leyland dips 3%
  • Ambuja Cement falls 2%
  • MCX trades 2.5% lower
  • Future Enterprises up 3%
  • Sunteck Realty slips 3%
  • Divis Labs trades in the red
  • LIC Housing Fin dips nearly 1%
  • Britannia Industries gains 1.15%
  • Tata Communications rises 2.3%
  • Praj Industries trades over 1% higher
  • Axis Bank trades flat with negative bias
  • Balkrishna Industries hit 52-week low; slides 6%
  • Index heavyweight Reliance Industries trade 1% lower

Rupee opens 21 paise higher against US dollar, slips later to 72.26 - The rupee on Wednesday opened 21 paise higher at 72.18 against the US dollar on Wednesday. However, minutes later the currency slipped to 72.26 level.

The domestic unit on Tuesday tumbled 99 paise to settle at 72.39. That marked its worst single-day fall since August 5 and the lowest closing level since November 13, 2018. The depreciation in rupee's value came on the back of heavy sell-off in the domestic equity market and a weak macro environment

TOP GAINERS & LOSERS - 

Bajaj Hindustan, Marico, Gail, Britannia, Zee Entertainment, Vedanta, L&T, Hero MotoCorp, Eicher Motors, and Coal India are among major gainers on the indices, while losers include Axis Bank, Yes Bank, HDFC Bank, ICICI Bank, and Sun Pharma. Among sectors, bank and pharma stocks are witnessing selling pressure, while some buying is seen in the FMCG, infra and IT.

Shares of Yes Bank slipped 2 percent on September 4 after foreign research house Morgan Stanley has remained underweight on the stock and also cut the target price to Rs 55 from Rs 95 per share.

Tata Communications in partnership with Neeco: Shares of Tata Communications added 3.6 percent on September 4 after Neeco Global ICT Services has become a customer of Tata Communications to take to market and deliver Internet of Things (IoT) services for enterprises in Europe.


Sensex | Market News | Nifty | Rupee | Economy | Top Gainers 


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