Market Daddy | Share Bazar Live | Share Market News

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. ...

Sugar business expects to regain when worth rise, govt measures - The surge in sugar prices follows the central government’s announcements to support the industry weeks before the crushing season a few weeks away. The expected decline in 2019-20 sugar production coupled with the announcement on the creation of 4 million tonnes (MT) of sugar buffer stock and subsidy on 6 MT sugar exports resulted in sugar prices rising to Rs 34-34.5/kg (ex-mill Uttar Pradesh), according to a report by rating agency ICRA. Sugarcane is Rs 31.8/32 per kg in Maharashtra against the minimum selling price of Rs 31. The ICRA raids the government’s measures were likely to result in improvement in the liquidity of sugar mills, thus supporting cane payments to farmers as well. Domestic sugar production is likely to decline to around 28.2 MT compared to 32.9 MT in 2018-19, because of the near-drought in Maharashtra and Karnataka. After a sharp decline over recent quarters, prices of crude palm oil (C...

NEWS ALERT | FM to brief media at around 4:30 pm today: Govt official Alert: FM to hold a meeting with key ministries for CAPEX done so far, and requirement ahead NEWS ALERT | Strides Pharma has announced a suspension of Ranitidine drug's sale in the US market: BSE filing -- Sale suspended until further clarity by US FDA Alert: Sale of Ranitidine was under scanner after US FDA raised the issue of carcinogenic NDMA being present in the drug  Nestle Enters Nifty 50, Replaces Indiabulls Housing Finance  Nestle India Ltd. replaced mortgage lender Indiabulls Housing Finance Ltd. in the benchmark Nifty 50 Index and Nifty 50 Equal Weight Index. The indices are reconstituted twice every year based on the data for six months ending January and July.  ICICI Lombard GIC adds 1% - FAL Corporation, a wholly-owned subsidiary of Canadian investor Prem Watsa’s Fairfax Financial Holdings, has sold 4.99 percent equity stake in ICICI Lombard general insurance for Rs ...

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...

SBI Worst Performer On Sensex, Nifty After Morgan Stanley Downgrade Shares of the country’s largest state-run lender fell as much as 3.3 percent to Rs 292.60. This after international research firm Morgan Stanley downgraded the stock to ‘Equal-weight’ from ‘Overweight’, according to its research report. SpiceJet Gains On Report Weighing 100-Jet Airbus Deal Shares of the budget carrier rose as much as 2.9 percent to Rs 134.30. SpiceJet is weighing an order for at least 100 Airbus planes as Boeing Co. grapples with the fallout over its grounded 737 Max, according to Bloomberg report. The company may buy a “sizable” number of Airbus A321LR and XLR jets to accommodate a planned expansion, the report added quoting SpiceJet Chairman Ajay Singh. Kaveri Seed Gains On Buyback Plans Shares of Kaveri Seed rose as much as 4.9 percent to Rs 575. The hybrid seeds producer’s board approved share buyback of up to 28 lakh shares, or 4.44 percent of equity shares aggregating to Rs 196 cro...

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...