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NEWS ALERT | Officers of ED visited one of co's offices raising certain queries: DHFL -- Co clarifies to exchanges w.r.t ED raids -- Says,, have provided necessary documents & clarifications to the ED NEWS ALERT | Lupin gets US FDA nod for Divalproex Sodium tablet: BSE filing -- Tablet of 250-500 mg -- Drug used to treat bipolar disorder, epilepsy & migraine headaches Oil update: Global oil prices were near flat as the market fretted about the health of the global economy and the future for energy demand. Brent crude futures inched up 7 cents to $59.03, while US crude added 9 cents to $53.40 a barrel. Rupee Opening Alert - Rupee opens higher at 70.90/$ vs Friday's close of Rs 71.14/$ Infosys Drops 10% After Whistleblower Complaints Shares of Infosys fell as much as 10 percent the most since Aug. 18, 2017—the day when former CEO Vishal Sikka resigned, to Rs 691.10. An anonymous whistleblower letter has alleged that the company’s Chief Exe...

The currency, debt and equity markets will be closed on Monday on account of assembly elections in Maharashtra. The polling for 90 Assembly seats of Haryana and 288 seats of Maharashtra started at 7 am and will continue till 6 pm. The counting of votes will take place on October 24. Financial markets will resume trading on Tuesday, October 22. The benchmark S&P BSE Sensex closed up 0.63 percent at 39,298.38 on Friday, while the broader NSE Nifty ended 0.65 percent higher at 11,661.85. On a weekly basis, both Sensex and Nifty ended with 3 percent gains. The 10-year benchmark bond yield closed at 6.70 percent, while the rupee settled at 71.15 to the dollar. IMF backs India's corporation tax cut, says it will help revive investment The International Monetary Fund on Friday supported India's recent decision to reduce corporate income tax, saying it has a positive impact on investment. It, however, said India should address continued fiscal consolidation an...

3M India Slumps After Large Trade Shares of 3M India fell as much as 9.9 percent, the most in over a month, to Rs 20,610. About 2,00,173 shares 1.8 percent equity of the company changed hands in large trade, Bloomberg data showed. Buyers and sellers were not known immediately. Trading volume was almost six times its 20-day average, according to Bloomberg data. BHEL Surges The Most In Over A Decade Shares of Bharat Heavy Electricals rose as much as 26.6 percent, the most since May 2009, to Rs 56.45. The stock extended gains for the second consecutive trading session.  A group of secretaries will meet on Oct. 18 to consider cutting the government’s holding below 51 percent in at least eight public-sector companies, a person familiar with the matter said, as the Modi administration looks to bridge the budget gap. NEWS ALERT | China third-quarter GDP grows 6%: Reuters -- Growth slowest in almost three decades -- Production hit by soft factory production -- T...

Bajaj Consumer Care Extends Gain, Shares Jump 11% Shares of Bajaj Consumer Care extended gains for the second consecutive trading session and rose as much as 11 percent to Rs 271.20. HDFC MF increased its stake to 6.48 percent from 1.23 percent on Oct. 15. Besides, the company’s promoters sold 3.24 crore shares on Oct. Tata Power Swings After Large Deal Shares of Tata Power fluctuated between gains and losses to trade 0.26 percent lower at Rs 57.95. About 30 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately. Vodafone Idea Falls The Most In Two Weeks Shares of Vodafone Idea fell as much as 6.9 percent, the most since Oct. 3, to Rs 6.10. The stock declined for the second day out of three trading sessions. Of the shares traded, 55 percent were at the asking price and 44 percent were at the bid, Bloomberg data showed. Motherson Sumi Gains After Block Deal Shares of Motherson Sumi Systems rose...

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...