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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...

Orient Electric Halts Two-Day Gaining Streak, Shares Fall 6% Shares of Orient Electric fell as much as 5.7 percent to Rs 184.05, halting a two-day gaining streak. The stock advanced 21 percent in the past 12 months compared to a 14 percent gain in the Sensex. Tata Group Stocks Trade Mixed After NCLAT Order Shares of the Tata Group companies traded mixed after the National Company Law Appellate Tribunal ruled that his dismissal as chairman of Tata Sons Ltd. was illegal. While restoring him to his original position as executive chairman of the Tata Group’s holding company, the NCLAT held that the resolution by Tata Sons board removing Mistry was illegal. Essel Propack Surges 16% To Record High Shares of Essel Propack rose as much as 16 percent, the most since Jan. 28, 2019, to hit an all-time high at Rs 175.45. Trading volume was more than seven times its 20-day average, Bloomberg data showed.  The Relative Strength Index was above 70, indicating that the stock may...

Nestle Falls After Quarterly Results Announcement Shares of Nestle India fell as much as 1.5 percent to Rs 14,260 after the company announced September quarter results. NEWS ALERT | Infosys looking to beef up whistleblower investigation: Report -- Infosys rules out insider trading -- Co in talks with law firms JSA Law, Khaitan & Co for investigation -- Appointment of one or both of the above-mentioned companies, in addition to Shardul Amarchand Mangaldas already appointed TOP GAINERS & LOSERS -  NTPC, YES Bank and Tata Motors are the top gainers while Sun Pharma, Infosys, and IndusInd Bank are the top losers. The most active stocks included Reliance Infra, Bank of Baroda and YES Bank. Rupee Update: The Indian rupee opened lower by 8 paise at 71.36 per dollar on Monday versus Friday's close 71.28. Lupin share price gains on USFDA approval - The share price of Lupin gained over 1 percent in early trade on November 11 after the company rec...

Raymond Jumps 12% To Four-Month High Shares of Raymond rose as much as 12 percent, the most in a month, to Rs 754.20, the highest since July July 5. The company spun off its branded lifestyle business into a separate entity as part of a restructuring plan.  Raymond’s lifestyle business, which comprises branded textiles, branded apparel, and garments, would be separately listed on the bourses after the demerger, the textile maker said in an exchange filing. Mindtree Falls After CFO Resigns Shares of Mindtree fell as much as 1.2 percent to Rs 698.70. The company’s Chief Financial Officer Pradip Kumar Menon has resigned, adding to the exodus of its top management since a hostile takeover by Larsen & Toubro Ltd. Menon would be pursuing career opportunities outside the company and would be relieved from services on Nov. 15, the company said in an exchange filing. Reliance Home Finance Gains For Sixteenth Day Shares of Reliance Home Finance extended gains for the ...

NEWS ALERT | Biocon's Bengaluru unit receives EIR from US FDA: BSE filing -- EIR received for Biologics Drug Products Facility -- EIR informs about the closure of inspection Alert: Facility inspected between Aug 22 and Aug 30        : EIR is Establishment Inspection Report Sun Pharma Falls After Unit Taro Pharma Announces Q2 Results -  Shares of Sun Pharmaceutical Industries fell as much as 1.6 percent to Rs 431.05 after the company’s unit Taro Pharma announced its second-quarter results. Rupee Opens: The Indian rupee opened lower by 8 paise at 70.85 per dollar on Tuesday versus previous close 70.77. Yes, Bank gains nearly 9% after Jhunjhunwala buys the stake for Rs 86.89 crore - Shares of private lender Yes Bank rose nearly 9 percent in the early trade on November 5 after Rakesh Jhunjhunwala bought a stake in the company via open market transactions. Ace investor Rakesh Jhunjhunwala bought 1.29 crore shares in private lender on Novembe...

NEWS ALERT | Sun Pharma launches Drizalma Sprinkle in the US for oral use: BSE filing --  Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) designed for the treatment of various neuropsychiatric and pain disorders in patients who have difficulty swallowing. Inox Wind signs an additional deal with Adani Green for SECI 50 MW capacity: BSE filing -- Signs an additional deal with Adani Green for a project that is part of the capacity won under SECI bids for wind projects -- Co signs a deal for sale of a 50 MW wind power project at Dayapar, Kutch in the state of Gujarat in which Adani will be the strategic investor -- Project comprises of 25 Nos. of its latest 2 MW Wind Turbines AB Pandey on GST on ATF and Income-tax slab rejig -- GST on ATF was deferred by the Council earlier; May discuss again if the fresh proposal is made -- Any discussion on change in the income-tax slab is taken up during Budget -- Change in the corporation tax rate w...

NEWS ALERT | Indiabulls Hsg makes repayment of the entire maturity proceeds for Masala Bonds: BSE filing --The Company has today made the repayment of the entire maturity proceeds from the pre-funding done to Axis Trustee Alert: Masala Bonds worth Rs 1,330 crore were issued by the company on September 2016 and were due to mature on 15th October 2019.  Indiabulls Housing Finance Extends Fall, -  Shares Drop Nearly 8% Shares of Indiabulls Housing Finance fell as much as 7.5 percent to Rs 183.05. The stock extended declines for the second consecutive trading session. The company’s board intends to go for a buyback of shares and will take a final decision in this regard after receiving concurrence from the market regulator Securities and Exchange Board of India. Future Lifestyle Gains After Large Trade Shares of Future Lifestyle Fashions rose as much as 4.2 percent to Rs 419.80. About 1.45 crore shares or 7.2 percent equity changed hands in a large trade, Bloom...

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...

Cipla Extends Decline; Shares Fall 7% Shares of Cipla extended declines for the second consecutive trading session and fell as much as 6.7 percent to Rs 393.70. Trading volume was more than three times its average, Bloomberg data showed. Of the shares traded, 42 percent were at the asking price and 33 percent were at the bid. Piramal Enterprises Swings After Falling In the Last Three Trading Sessions Shares of Piramal Enterprises fluctuated between gains and losses to trade 0.4 percent higher at 1,376. The stock had declined in the last three trading sessions, falling 14 percent during the period. Of the shares traded, 45 percent were at the asking price and 35 percent were at the bid, Bloomberg data showed. Tata Steel Gains After Sharing Quarterly Updates Shares of Tata Steel rose as much as 3.6 percent to Rs 341.95. The company’s crude steel production increased 4.65 percent to 4.5 million tonnes in the second quarter ended Sept. 30 as against 4.3 MT in the correspond...

RBI monetary policy:  The Reserve Bank of India is likely to go for yet another rate cut on October 4, the fifth in a row, as inflation is within the comfort zone and the need to boost the economy is pressing. RBI Governor Shaktikanta Das has already hinted that benign inflation provides room for further monetary policy easing while space for fiscal space is limited. BPCL trades flat with negative bias -- The international Credit Rating Agency Moody's on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1 if the government goes ahead with privatization by selling its stake to a private entity. HDIL slips 4% after EOW arrests Rakesh and Sarang Wadhawan Alert: They are the promoters of HDIL Rupee Update: Rupee traded with mild gains ahead of RBI policy rate decision. The Indian currency traded 8 paise higher at 70.82 per dollar around 0945 hours IST. Oil price update: Oil futures edged higher on Friday but were on track for a large weekl...

Yes Bank soars 25% - Yes Bank share price soared more than 25% to hit the day's high at Rs 39.90 after the overhang ended following RNAM selling Rana Kapoor's pledged shares.  Yes Bank Ltd.’s Group President and Chief Financial Officer Rajat Monga resigned from his posts amid an upheaval at the private lender with multiple resignations and share price plunge. Gold price today: Gold prices rebounded in futures trade, 3 tracking sell-off in equities and fresh concerns around trade war front.  M&M Swings After Joint Venture Announcement Shares of Mahindra & Mahindra fluctuated between gains and losses to trade 0.55 percent lower at Rs 553.80. The automaker partnered with Ford Motor Company Inc. to develop, market and distribute vehicles in India and other high-growth emerging markets around the world. Mahindra will own a 51 percent controlling stake in the joint venture and Ford will own the remaining 49 percent, the Indian automaker said in an exchange...

NEWS ALERT | Fashion retailer 'Forever 21' files for bankruptcy: Reuters Cipla Falls After U.S. FDA Issues 12 Observations Shares of the pharmaceutical company fell as much as 4.1 percent to Rs 421.55. The U.S. Food and Drug Administration issued 12 observations for the drugmaker’s Goa plant after conducting Current Good Manufacturing Practice inspection between Sept. 16-27, according to its stock exchange filing. Reliance Nippon Life AMC Rises After Reliance Capital Completes Stake Sale Shares of Reliance Nippon Life Asset Management Company rose as much as 3.4 percent to Rs 274.37. Reliance Capital announced the completion of 21.54 percent stake sale in its mutual fund arm Reliance Nippon Life Asset Management Ltd. to joint venture partner Japan's Nippon Life Insurance for Rs 3,030 crore.  Indiabulls Group Stocks Decline; Indiabulls Ventures Falls Over 14% Shares of Indiabulls Group stocks extended declines for the second consecutive trading session. ...

Axis Bank Falls On Fund Raising Plans Shares of Axis Bank fell as much as 1.2 percent to Rs 686.55. The lender’s board approved the issuance of 19.87 crore shares at Rs 629 each as it closed qualified institutions placement, according to its statement on exchanges. Of the shares traded, 37 percent were at the asking price and 39 percent were at the bid, according to Bloomberg data. Sterlite Technologies Gains After Unit Signs Pact Shares of Sterlite Technologies rose as much as 4.3 percent to Rs 162.75. The company said its unit signed a pact to acquire the entire stake in the U.K.-based Impact Data Solutions at an enterprise value of about Rs 105 crore,” according to its stock exchange filing.  Zee Entertainment Swings After Large Trades Shares of Zee Entertainment fluctuated between gains and losses to trade 0.6 percent lower at Rs 271.80. About 34.8 lakh shares of the company changed hands in two large deals, Bloomberg data showed. Buyers and sellers were not kno...

Maruti Suzuki, RIL, ONGC, Tata Motors were among the biggest gainers, jumping up to 3%. L&T, Yes Bank, Asian Paints were among the losers, shedding up to 1.5%. Lemon Tree Hotels Jumps The Most In Nearly Eight Months Shares of Lemon Tree Hotels rose as much as 17.2 percent, the most since Jan. 29, 2019, to Rs 69.95. About 5.52 crore shares or 7 percent equity of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately. Maruti Suzuki Extends Gain; Shares Reclaim Rs 7,000-Mark Shares of Maruti Suzuki extended gains for the third consecutive trading session. The stock rose as much as 4 percent to trade above 7,000 for the first time since May 27. NEWS ALERT | DHFL to hold a meeting with bank lenders to discuss draft Resolution Plan: BSE Filing -- Meeting with lenders on Wednesday, Sept 25 --Meeting will also be held on Friday, 27th September 2019 by the Company with all its institutional creditors in con...

Infosys, TCS Worst Performers On Sensex, Nifty Shares of Infosys and Tata Consultancy Services were the worst performers on Sensex and Nifty. The Bengaluru-based software developer fell as much as 4.4 percent, the most in over five months, to Rs 767.70, while the country’s largest information technology firm fell as much as 3.5 percent to Rs 1,994.20. Coffee Day Ent falls 5% -- The GST panel has approved proposal to hike rates on caffeinated drinks from 18 percent to 28 percent, plus an additional 12 percent compensation cess. Dr. Reddy Labs slips over 3% - Dr. Reddy’s Laboratories Ltd on Sunday said that it is suspending supply of its drug Ranitidine worldwide as a precautionary measure, following the ongoing probe by the US Food and Drug Administration (FDA) into the reported impurity N-nitrosodimethylamine in it at low levels. TOP GAINERS & LOSERS -  Britannia Industries, ITC, L&T, IndusInd Bank and Eicher Motors are among major gainers on the N...

Yes Bank, Bajaj Finance shares were the biggest gainers, jumping up to 2.5%. Oil prices extended their losses from the previous session on Wednesday after Saudi Arabia’s energy minister said the Kingdom will restore lost oil production by the end of the month.  Bajaj Finance Gains On Fund Raising Plans Shares of Bajaj Finance rose as much as 2.4 percent to Rs 3,447.90. The company plans to raise up to Rs 8,500 crore through qualified institutional placement by issuing equity shares, according to its stock exchange filing. Coffee Day Gains After Selling Bengaluru Park Shares of Coffee Day Enterprises rose as much as 4.9 percent to Rs 76.35. Blackstone Group and Salapuria Sattva Group have agreed to acquire the company’s Global Village Tech Park in Bengaluru. The acquisition would take place at an enterprise value of around Rs 2,700 crore in two tranches. The first tranche is expected to be transferred before Oct 31, while the deal would be subject to conditions, incl...

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 s...

Drone attacks on Saudi plant could hit global oil supplies -  Global supplies of oil are likely to suffer a “major jolt” following Saturday’s attack by a swarm of explosive drones on the world’s biggest oil processing plant in Saudia Arabia. Saudi Arabia’s oil fields and pipeline have been the target of rebel attacks over the past year, often using single drones, but analysts said this appeared to be the biggest and most successful to date. Oil Marketers Decline On Soaring Crude Prices Shares of the oil marketing companies declined after Asia’s crude benchmark–Brent crude rose nearly 10 percent to $66.18 a barrel. It jumped 19.5 percent intraday. Shares of Bharat Petroleum Corporation and Hindustan Petroleum Corporation fell nearly 5 percent each, while shares of Indian Oil Corporation fell nearly 3 percent. Rupee Opens: The Indian rupee slipped in the early trade on Monday. It has opened lower by 70 paise at 71.62 per dollar versus Friday's close 70.92. TOP ...

HDFC Bank, Yes Bank top losers - Yes Bank, HDFC Bank shares emerged among the biggest losers, shedding up to 3.5% on Friday morning. Tata Motors, Heromotocorp shares were among the top gainers, jumping up to 1%. Motherson Sumi Jumps On Goldman Boost Shares of the auto parts maker rose 4.1 percent intraday to a one-month high of Rs 107.25 each. Brokerage firm Goldman Sachs upgraded its recommendation on the stock to ‘Buy’ from ‘Neutral’. It also fixed the target price at Rs 121, indicating a potential return of 17.3 percent from the last close. Yes bank share price extends losses after Wednesday's rally on reports of Rana Kapoor selling stake -  Shares of private sector lender  Yes Bank extended decline on Friday morning, following Wednesday's mega rally on reports that founder Rana Kapoor is in talks with Paytm to sell his stake. Yes, Bank shares are down about 3% to Rs 65.30 on BSE. The stock, which rose 13.5 percent on Wednesday, has lost more than 50 percent ...

SBI Life Falls 2%  After SBI Plans To Sell Stake In Company Shares of SBI Life Insurance Company fell as much as 1.8 percent to Rs 785.10. SBI’s board has approved an offer-for-sale of at least 3.5 percent stake—or 3.5 crore shares—in SBI Life Insurance Company Ltd., with an option of oversubscription of 1 percent.  The floor price for the sale has been set at Rs 770 per share—a discount of 4 percent to today’s closing price of Rs 799.65—the life insurer said in a separate filing. The sale for institutional investors will take place on Sept. 12 and retail investors on Sept. 13. Walchandnagar Industries Climbs 12% - Shares of Walchandnagar Industries rallied more than 12 percent intraday after bagging a contract from Indian Space Research Organization. Walchandnagar Industries (WIL) in its BSE filing said it secured an order worth Rs 77.20 crore plus escalation from the Vikram Sarabhai Space Centre of ISRO located at Thiruvananthapuram. Apollo Hospitals Surge...