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Stock Market News -Cipla Extends Decline; Tata Steel Gains

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 corresponding quarter in th…
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Stock Market News - Aurobindo Pharma falls, Lakshmi Vilas Bank Fall

NEWS ALERT | L&T Construction bags an EPC order worth Rs 1,000-2,500 cr: BSE filing -- In the Republic of Mozambique, the business has secured an order for Engineering, Procurement, and Construction of a 400kV overhead transmission line between the towns of Chimuara and Alto Molocue in Zambezia Province.

-- On the domestic front, an order has been secured for modernizing the electrical distribution network in several sectors of Gurugram Smart City in Haryana. 
Aurobindo Pharma Resumes Decline; Shares Fall 6% -  Shares of Aurobindo Pharma resumed declines after a one-day breather. The stock fell as much as 7.9 percent to Rs 436.65. The company clarified earlier this week that none of the observations that were issued by the U.S. FDA were related to data integrity and the drugmaker said it is confident of addressing them within the stipulated timeline.
Torrent Pharma Falls As Regulatory Concerns Prevail Shares of Torrent Pharma fell as much as 6.7 percent, the most since May 21, to Rs…

Stock Market News - Titan Worst Performer, Motilal Oswal Gains

NEWS ALERT | Glenmark Pharmaceuticals receives tentative ANDA approval for Dimethyl Fumarate Delayed‐Release Capsules: BSE Filing -- Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for Dimethyl Fumarate Delayed ‐Release Capsules, 120 mg and 240 mg, a generic version of Tecfidera®1 Capsules, 120 mg and 240 mg, of Biogen Inc. 
Maruti Suzuki cuts production for an eighth straight month in September - Reeling under a prolonged slowdown, Maruti Suzuki India (MSI) reduced its production by 17.48 percent in September, making it the eighth straight month when the country's largest carmaker lowered its output.

Titan Worst Performer On Nifty; Shares Fall Over 6% - Shares of Titan fell as much as 6.1 percent, the most since July 9, to Rs 1,182.55. The company said that the sales growth of its mainstay jewelry business remained muted in the quarter ended September as rising gold prices deterred buye…

Market News - The NSE and BSE Ltd are closed for Dussehra

NEWS ALERT | Defence Minister Rajnath Singh is scheduled to travel to France to receive the first Rafale fighter jet.
The National Stock Exchange of India and BSE Limited are closed for trading on October 8, 2019, on account of Dussehra. Notably, wholesale commodity markets, and forex and commodity futures markets will also remain closed to mark the auspicious occasion. 
The headline indices Sensex and Nifty have registered their worst losing streak since July, ending lower for the 6th straight day on Monday. Sensex and Nifty closed lower for the sixth straight session on Monday, dragged down by losses in index heavyweights ITC, TCS, L&T, HDFC twins and Infosys amid weak global cues.
The 30-share Sensex closed 141.33 points, or 0.38% down at 37,531.98. Intra-day the Sensex touched a low of 37,480.53 and a high of 37,919.47.
Excess rainfall may have damaged Kharif crops, to hit sugarcane output - Excess rainfall in almost all agrarian states across India may have damaged Kharif crops…

Stock Market News - Zee Entertainment Slumps, NIIT Gains

NEWS ALERT | US FDA issues Form 483 to Aurobindo’s Unit 7 -- Failure to thoroughly review any unexplained discrepancy -- No written procedure for processes and production -- Lab records don't include complete data of all tests -- Utensils, equipment not clean
NEWS ALERT | Don't have exposure to Indiabulls Group: Edelweiss Fin to CNBC TV18 Alert: Stock is down 20% in one month
Zee Entertainment Slumps Over 14%; Top Nifty Loser Shares of media conglomerate declined 14.2 percent intraday to Rs 203.30 each. Promoter Essel Media created encumbrance of 10.71 percent stake or 10.29 crore shares with VTB Bank, according to an exchange filing. Also, over 90 percent of promoter stake in Zee Entertainment Enterprises has been pledged to raise debt, the company revealed in an analyst call on Saturday.
Yes Bank Top Gainers - Yes Bank shares gained more than 5% to hit the day's high at Rs 44, after reports that marquee investors are eyeing stake in the lender. 
Oil price update: Global crud…

Stock Market News - PSU Banks Gain, HDFC Top Gainer

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 weekly loss on fears that slower g…

Stock Market News - Yes Bank Top Performer, M&M Swings

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 filing.
CG Power Halt…