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Stock Market News - Tech Mahindra gains 5%, Prabhat Dairy Hits 20%

Tech Mahindra gains 5% on a multi-year deal with AT&T: Shares of Tech Mahindra gained 5 percent as the company expanded its strategic collaboration with AT&T to accelerate AT&T’s IT network application, shared systems modernization and movement to the cloud.


Prabhat Dairy Hits 20% Upper Circuit On Delisting Plans Shares of Prabhat Dairy hits their upper circuit of 20 percent at Rs 78.15. The company’s board of directors to consider delisting of shares from the bourses on Sept. 10. The promoters are intent to acquire 49.9 percent stake from the public shareholders and then go for voluntary delisting. At present, they hold a 50.1 percent stake in the company.

NEWS ALERT | 

15th Finance Commission to meet GST Council in its next meeting: sources to CNBC TV18- 15th Fin Comm may finalize 5-year GST revenue projection- Centre-states need to decide on the continuation of compensation cess beyond 5 years

Alert: GST Council will meet on Sept 20

RIL, Tech Mahindra shares up - Tech Mahindra, Bharti Airtel shares were among the biggest gainers, jumping up to 4%. Sun Pharma, Yes Bank shares slumped up to 3%. Shares of billionaire Mukesh Ambani led Reliance Industries are trading marginally higher after the commercial rollout of Jio Giga Fiber.

From Coal India to ONGC, shares of PSUs log the biggest gain in four months - Shares of several public sector undertakings (PSUs) rebounded on Thursday, even as the benchmark indices ended flat. Market experts say the sharp jump was on account of value buying, as valuations in several counters have hit rock-bottom levels.

NCLT approves JSW Steel's Rs 19,700-crore bid for Bhushan Power & Steel - The Principal Bench of the National Company Law Tribunal (NCLT) on Thursday approved JSW Steel's Rs 19,700-crore bid for debt-laden Bhushan Power & Steel.

Rupee opening - Rupee opens flat at 71.85/$ vs Thursday's close of 71.84 against the US dollar

CATCH THE ALL MARKET UPDATES- 
  • DLF slips over 2%
  • Adani Ports trades lower
  • DHFL trades flat with negative bias
  • Reliance Industries trades 0.4% higher
  • Sun Pharma dips nearly 3% in early trade
  • Indiabulls Housing Fin slips 6% on reports of PIL being filed against the Co
  • Prabhat Dairy zooms 20% on consideration of voluntary delisting of the equity shares of the Company

Coffee Day Enterprises continues to slide - The promoters of Coffee Day Enterprises and its lenders have temporarily shelved a plan to sell a controlling stake in the unit that owns the Café Coffee Day (CCD) chain, according to a report by Mint.

Aditya Birla Capital trades over a percent higher - Aditya Birla Capital on Thursday said its board has approved raising Rs 2,100 crore through preferential allotment to marquee investors and promoter group entities.

Punjab National Bank trades flat with positive bias - The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of Oriental Bank of Commerce and United Bank of India with PNB

NDTV trades in the green - Private TV channel NDTV on Thursday said it has got relief from the Bombay High Court, which has set aside an order passed by the market regulator Sebi.

L&T Finance Holdings trades flat - Board to consider raising up to Rs 100 crore via non-convertible preference shares on Sept. 11

Hinduja Global Solutions soars over 8% - It has recovered $1 billion in denied insurance payments on behalf of healthcare systems.

Indiabulls Housing Finance Worst Performer On Nifty Shares of Indiabulls Housing Finance fell as much as 9.6 percent, the most since Aug. 16, to Rs 405. The company clarified on the PIL against the company and its Promoter saying that it will fight out the petitioners in the court.

NCC trades 1.3% higher- Sundaram Group decreased stake from 5.16% to 2.77% in the company.


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