Stock Market News - RIL Hits, Yes Bank Extends Decline

RIL Hits Fresh Record High; Nears Rs 10 Lakh Crore Market Cap Mark Shares of Reliance Industries extended gains for the second consecutive trading session. The stock rose as much as 3.9 percent to hit an all-time high at Rs 1,569. The scrip is set to clock Rs 10 lakh crore in market capitalization.

Reliance Jio joins Airtel, Vodafone Idea to raise tariffs- Telecom tariffs are finally set to rise with Reliance Jio also on Tuesday stating that to strengthen the industry it will take measures like increasing tariffs in the next few weeks.

On Monday, Vodafone Idea and Bharti Airtel had said that they will increase tariffs from December. This will be the first time since September 2016 — when Reliance Jio launched its services — that tariffs will be revised upwards by the telecom companies

Oil Check -- A far larger than expected rise in crude stocks led to a decline in prices. Brent crude futures stood at $60.91 a barrel early on Wednesday, after sliding 2.6 percent overnight.

BROKERAGE RADAR:: Credit Suisse on RIL

-- Maintains neutral rating, but raises the target to Rs 1,400/Sh (from Rs 1,210)

-- Tariff hike by Jio could bring revenue worth over $1.5 billion

-- Revenue to help achieve zero debt target by FY21

NEWS ALERT :

Vodafone Idea continues to cruise
Bharti Airtel extends rally, gains 3% in early trade
YES Bank slides after RBI finds the bank under-reported bad loans

TOP GAINERS & LOSERS -

RIL, Bharti Airtel, ICICI Bank, IOC, Power Grid, Bharti Infratel, HPCL, IndusInd Bank, Grasim are among major gainers on the Indices, while losers are Yes Bank, Tata Steel, Infosys, Tata Motors, Axis Bank, Hero MotoCorp and ITC. Among sectors, except metal and auto, other indices are trading higher led by the energy, infra and PSU Bank.

Yes Bank Extends Decline After Reporting Bad Loan Divergence For FY19 Shares of Yes Bank fell for the fourth consecutive trading session. The stock fell as much as 3.4 percent to Rs 62. The Mumbai-based lender said that the Reserve Bank of India found under-reporting of bad loans at the bank in the previous financial year.

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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...

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...

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...

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