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 - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

A salaried professional opting for a lower rate of tax under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. Removal of tax exemptions under Section 80C in the new tax regime could be a dampener for life insurance products as well as equity-linked savings schemes (ELSS) of mutual funds. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman said a salaried professional opting for a lower tax rate under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. “The removal of 80C benefit may pose a risk to new business volumes of life insurance companies,” said Kotak Institutional Equities in a report. Life insurance Tax exemptions are an important incentive for purchase of life insurance. To be eligible for exemption under Section 80C, the sum assured has to be 10 times the annual premium. This is part of the Rs 1.5 lakh limit under ...
13 comments
Read more

Stock Market News - FDC share price at 52-week high on GMP certificate from UK health regulator

The certificate came after a recent inspection of the company's facilities in Goa. FDC  share price touched a 52-week high of Rs 222, rising more than 5 percent in the morning trade on January 3 after the company received the good manufacturing practice (GMP) certificate from the UK's health regulator. The UK's Medicines and Healthcare Products Regulatory Agency also continued with its approved status for the company's two facilities in Verna, Goa. The GMP certificate was issued after a recent inspection of the two plants. At 1018 hours, FDC was quoting at Rs 218.00, up Rs 7.30, or 3.46 percent. The share price has risen 30 percent in the last three months. GNFC share price down 2% after DoT seeks Rs 15K cr in telecom dues DoT sent the company a demand notice for Rs 15,019 crore, taking to Rs 3.13 lakh crore the amount it has sought from non-telecom companies following a Supreme Court ruling. The share price of  Gujarat Narmada Valley Fertili...
3 comments
Read more

Budget 2019 : LTCG Tax, GST, Home Loans, farmer income scheme needs to be focus

Budget 2018 was the last full-fledged budget presented by the government led by Narendra Modi. Long Term Capital Gains (LTCG) tax on profit earned from the sale of equity shares listed on a recognized stock exchange in India. The LTCG tax was re-introduced after a time gap of 14 years. The provisions were closely followed since they impacted the majority of taxpayers of the country. The tax was levied at the rate of 10 per cent (plus applicable surcharge and cess) while providing relief from gains accrued up to January 31, 2018, i.e., a mechanism was derived wherein the stock price as on 31 January 2018 was considered as the deemed cost, provided it is beneficial to the taxpayer. Following are some of the illustrative points: Treatment of compulsorily convertible instruments – The current provisions do not provide clarity on the cost to be adopted for the purpose of computation of capital gains in case of instruments that are compulsorily converted into equity sh...
1 comment
Read more