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Stock Market News - VEDL, Yes Bank top gainers, Kaveri Seed rises 3%

VEDL, Yes Bank top gainers - The Sensex was down 100 points to 37,023.14 while the Nifty was trading below the 11,000-mark at 9.20 am. VEDL, Yes Bank shares emerged among the biggest gainers in the index, jumping up to 2%.  Oil futures shed some of their massive gains on Tuesday as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure. 


While equity market losses have not been large, the shaky investor confidence continues to support safe-haven assets, with gold edging higher on Tuesday and Treasury prices rising, Reuters reported.

CG Power Locked In Upper Circuit Shares of the Mumbai-based power equipment maker rose 5 percent intraday to hit an upper circuit of Rs 15.65 each. KKR Group acquired a 10 percent stake in the company for Rs 89 crore via open market transactions, according to an exchange filing. Seller for these shares for the company’s publish shareholder Vistara ITCL, which held a stake of 21.63 percent for June quarter.

Gold Update: Gold gained 1 percent on Monday after attacks on oil facilities in Saudi Arabia fueled concerns of a further escalation in Middle East tensions and pushed investors toward safe-haven assets.

MARKET NEWS - 

1. Bharti Airtel begins talks to sell stake in merged Co of Bharti Infra & Indus Towers: sources to CNBC TV18
-- ATC, Brookfield interested parties in buying a stake

-- Bharti Airtel hopes to fetch $3.2-3.5 billion

-- Talks at the initial stage, to be taken forward post-merger completion of Bharti Infra-Indus

Alert: Bharti Airtel to hold 37.2% in the merged entity

2.  Corporation Bank's board of directors has given in-principle approval for the amalgamation of the Corporation Bank into Union Bank of India.

Rupee Opens: The Indian rupee opened lower by paise 23 at 71.82 per dollar on Tuesday versus previous close 71.59.

Glenmark Pharma gets Orphan Drug Designation for GBR 1342: The US Food and Drug Administration (FDA) has granted Orphan Drug Designation to its bispecific antibody candidate GBR 1342 for the treatment of patients with multiple myeloma who have received prior therapies.

TOP GAINERS & LOSERS - 

Titan, Bharti Airtel, Yes Bank, Kaveri Seed, SAIL are some of major gainers on the indices, while losers are STC, MMTC, Indiabulls Housing, BPCL, IOC and HCL Tech. Among sectors, auto, FMCG, metal, and pharma are trading higher, while selling seen in the energy, bank, infra and IT.

Kaveri Seed to consider buyback: Share price of Kaveri Seed Company added more than 2 percent on September 17 as meeting of the board of directors of the company will be held on September 24, 2019, to consider a proposal for buyback of fully paid-up equity shares of the company, quantum & mode of buyback and other matters incidental thereto, as per BSE release.


Sensex | Market News | Gold | Bank Nifty | Rupee | Top Gainers



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