Stock Market News - Telecom Operators Decline, Aurobindo Pharma extended decline

Telecom Operators Decline; Vodafone Idea Slumps 14% Shares of the telecom operators declined. That comes after the Department of Telecommunications has issued a notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court, PTI reported quoting an industry source. 

As per DoT's estimate, the liability of Bharti Airtel Group is Rs 62,187.73 crore, Vodafone Idea Rs 54,183.9 crore and BSNL and MTNL Rs 10,675.18 crore, the report added.

Aurobindo Pharma At Over Five-Year Low Shares of Aurobindo Pharma extended declines for the fourth consecutive trading session. The stock fell as much a 9.1 percent, the most in over a month to Rs 394.30, the lowest since September 2014. 

The comes after the pharmaceutical company said that the U.S. FDA issued Form 483 with 14 observations after completion of an inspection of Unit IV of the drugmaker’s Hyderabad facility. Form 483 is used by the FDA to document and communicate concerns discovered during plant inspections.

Rupee opens at 72.07 per dollar against Wednesday's close of 72.09 per US dollar

TOP GAINERS & LOSERS - 

Infosys, ICICI Bank, and Maruti are the top gainers while Bharti Infratel, Bharti Airtel and IndusInd Bank dragged the most. HDFC AMC, Bharti Airtel, Yes Bank, and Reliance Industries are the most active stocks.

Oil Check - At 8:06 AM, Brent Crude Futures were at $62.75 per barrel-mark.

NEWS ALERT | China Oct Industrial output up 4.7% YoY against Reuters poll of 5.4% growth: CNBC TV18

• Vodafone Idea slips 14%
• Results impact | Bata India surges 5% post Q2 results
• Bharti Airtel falls over 2% ahead of Sept-qtr results

Power Grid Falls After Large Trade Shares of Power Grid fell as 1.2 percent to Rs 186.90. About 25.5 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately. 

Of the shares traded, 86 percent were at the asking price and 11 percent were at the bid, according to Bloomberg data.

Muthoot Finance share price rallies 8% as stellar Q2 results - Muthoot Finance share price jumped by more than 8 percent in morning trade on Thursday to reclaim Rs 700 levels, a day after it reported a 76.4 percent jump in consolidated net profit at Rs 908.54 crore for the second quarter ended September 30 of this fiscal. 

The company’s net profit stood at Rs 515.06 crore in the July-September period last year.

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