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Stock Market News - Adani Gas Jumps, Infosys Worst Performer

NEWS ALERT | US court delivers a verdict against UPL arm: BSE Filing
-- Delivers verdict in favor of AgroFresh who pursued litigation demanding $373 m towards unjust enrichment, lost profits & as punitive damages

-- UPL says it is disappointed in the jury's verdict & will seek to overturn it

World Bank says the slowdown in India is severe, cuts GDP forecast to 6% - The World Bank cut India’s economic growth forecast by the most among South Asian nations on Sunday, below the outlook pegged by the nation’s central bank for this year, mainly because of a deceleration in domestic demand.

Infosys Worst Performer On Sensex, Nifty Shares of Infosys fell as much as 4.3 percent to Rs 780. The stock was the worst performer on Sensex and Nifty after reporting the September quarter results on Friday.


Adani Gas Jumps After Total Makes Open Offer Shares of Adani Gas rose as much as 18.4 percent, the most in nearly a year, to Rs 163. Total SA will acquire a 37.4 percent stake in Adani Gas, allowing the French oil major to expand its gas business in India. 

Total will purchase the stake through a tender offer to public shareholders for up to 25.2 percent and the residual shares from the Adani family, the Ahmedabad-based company said in a statement to the exchanges today.

Cadila Healthcare Gains On FDA Boost Shares of Cadila Healthcare rose as much as 2.2 percent to Rs 235.20. The company received zero forms of 483 observations by U.S. Food and Drug Administration inspections at its API plant in Dabhasa. This inspection was a Current Good Manufacturing Practice audit and a pre-approval inspection.

Rupee Opens higher: The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 70.88 per dollar versus Friday's close 71.02.

TOP GAINERS & LOSERS - 

Future Enterprises, DLF, Adani Gas, JSW Steel, Tata Steel, SBI, Vedanta, Yes Bank, ICICI Bank, Axis Bank, IndusInd Bank, and HDFC are among major gainers on the Indices, while losers are Infosys, UPL, Bank of Baroda, Avenue Supermarts and Bajaj Consumer Care.

Bank Of Baroda Worst Performer ON Nifty Bank Index Shares of fell as much as 3.9 percent to Rs 87.25. Baroda Asset Management and BNP Paribas Asset Management said they have decided to merge their businesses in a bid to leverage each other's strengths to offer products for retail and institutional investors, according to PTI report.


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