Skip to main content

Stock Market News - ONGC Falls, PSU bank stocks plunge up to 6%

ONGC Falls After Fire Accident - Shares of Oil and Natural Gas Corporation Ltd. fell as much as 2.9 percent to Rs 117,70. This after a fire broke out in stormwater drainage early morning today in Uran oil & gas processing plant. ONGC fire services and crisis management team were immediately pressed into action, the company tweeted.


KNR Constructions wins order worth Rs 850cr: Shares of KNR Constructions gained nearly 3 percent on September 3 after the company won an order worth Rs 850 crore.

Tata Steel to sale Europe assets: Shares of Tata Steel declined nearly 4 percent on September 3 after the company announced the sale of its European business. Tata Steel announces the closure of the UK factory, nearly 400 jobs on the line

Indian steel conglomerate Tata Steel on Monday announced the closure of a plant in the southern Welsh city of Newport, with a potential loss of around 400 jobs at the UK site. The Indian steel giant announced that it had clinched the sale of a Canadian and Swedish plant as part of its worldwide Cogent Electrical Steels division but, despite exploring all options, the company has been unable to find a way forward for the Orb Electrical Steels plant.

PSU bank stocks plunge up to 6% - PSU bank stocks including Indian Bank, PNB, OBC, Canara Bank, Union Bank plunged up to 6% after FM Nirmala Sitharaman announced a mega merger plan on Friday. PSU Banks Decline On Government’s Merger Plans The NSE Nifty PSU Bank Index fell over 2 percent, led by the declines in Jammu & Kashmir Bank, Punjab National Bank, and Indian Bank. This after the government on Friday said that it would merge 10 public sector banks into four, bringing down the number of PSU banks to 12 from 21.

Rupee opening - Rupee opens lower at 71.95/$ vs Friday's close of 71.40 against the US dollar.

TOP GAINERS & LOSERS - 

CG Power, Power Grid, KNR Construction, Dilip Buildcon, Syndicate Bank, Tech Mahindra, HCL Tech Hero MotoCorp, are among major gainers on the indices in the early trade, while losers are IOC, Maruti Suzuki, Bajaj Auto, Axis Bank, HDFC, Eicher Motors, OBC, Canara Bank, HDIL, Biocon and L&T.  Among sectors, except IT all other indices are trading in the red.

CATCH ALL THE MARKET UPDATES - 
  • Indian Oil Corp dips 4%
  • Canara Bank dips over 4%
  • Tata Motors slips nearly 3%
  • Wipro trades flat with positive bias
  • Hindustan Petroleum trades 2% lower
  • Punjab National Bank declines on PSB merger plan

Zydus to launch novel biologic for rabies: Zydus has received marketing authorization for TwinrabTM (RabiMabs) from the Drug Controller General of India. The novel biologic which will be marketed under the brand name, TwinrabTM, is indicated in combination with rabies vaccine for rabies post-exposure prophylaxis. The United States Food and Drug Administration (USFDA) has granted an orphan drug status to this candidate.

Market News | Sensex | Bank Nifty | Indian Rupee | Top Gainers | ONGC




Labels:

Comments

Post a Comment

Popular posts from this blog

Stock Market News - Trade war worries kept base metal prices under pressure in 2019

The trade deal developments and its impact on the global economy remain the trendsetter of commodity prices in 2020. A successful deal will boost global economic activity and improve the demand for base metals. In the past year, trade uncertainty hit global economic sentiments adversely as base metal prices in the domestic futures market settled with moderate gains. Commodities such as copper and lead ended with gains of 8 percent, while aluminium and zinc advanced 6 percent and 4 percent, respectively. Performance of nickel was exceptional with a whopping gain of more than 40 percent. At the same time, price-performance at its key overseas markets was rather steady. Trade war worries that fanned fears of recession roiled the global manufacturing sector last year, particularly China. This because Chinese industries are the key consumers of all base metals. Economic growth in the country tumbled to multi-year lows due to the 17-month trade dispute between the United Sta...
1 comment
Read more

Stock Market News - Yes, Bank top gainer, Ratnamani Metals Gains

Titan Company shares climb 2%: Shares of Titan Company climbed over 2 percent on BSE ahead of analyst and institutional investor meeting on December 20. Rupee Update: The Indian rupee recovered from the lows but trading marginally lower at 71.06 per dollar. NEWS ALERT |  1. Hold it against PSBs that they haven't passed the benefits of rate cuts to customers: FM -- Made sure stressed MSMEs are not declared NPAs: FM 2.  PSBs must move more liquidity out in the system: FM -- Together with banks and RBI, we looked at where liquidity was stuck: FM 3. Anish Shah appointed CFO of Mahindra & Mahindra till April 2021: BSE Filing -- Shah will become MD & CEO of co for 3 years w.e.f April 2, 2021. -- VS Parthasarathy will step down as CFO on April 1, 2020 -- Board approves transition of Anand Mahindra's role to Non-executive Chairman.  -- Pawan Goenka re-designated MD & CEO up to November 11, 2020 TOP GAINERS & LOSERS...
4 comments
Read more

Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm. India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading...
4 comments
Read more