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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…
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Stock Market News - Vodafone Idea falls, Lupin Gains, Power Grid Gains

Vodafone Idea falls 8% Shares of Vodafone Idea fell as much as 7.5 percent to Rs 3.70. Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, Bloomberg reported quoting the company’s Chief Executive Officer Nick Read.

Lupin Gains After Offloading Japanese Business Shares of Lupin rose as much as 3.1 percent to Rs 758.80. India’s fourth-largest drugmaker by market value informed the exchanges it has entered into a definitive agreement to sell 99.82 percent of its stake in Kyowa Pharmaceutical Industry Co. to Plutus Ltd., a subsidiary of the private equity firm Unison Capital Partners, at an enterprise value of 57,361 million Japanese yen—nearly Rs 3,702.4 crore. 
That, Lupin said, would generate a post-tax net cash inflow of Rs 2,103.9 crore.
Power Grid Gains After large Trade Shares of Power Grid rose as much as 1.4 percent to Rs 194.35. About 16.6 lakh shares of the company changed hands in a large trade, B…

Stock Market News - Nestle Falls, Lupin gains, Laurus Labs Swings

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 received United States Food and Drug Adminis…

Stock Market News - Raymond Jumps, Mindtree Falls, Rupee slips 34 paise

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 sixteenth consecutive tra…

Stock Market News - NBCC Jumps 19%, Sensex hits an all-time high

Sensex hits an all-time high of 40,670 - The Sensex rallied to a fresh all-time high on Thursday morning after the Narendra Modi-led government announced a major reform to bolster the stressed real-estate sector. The Sensex jumped more than 185 points to a fresh high of 40,656.56. 
Yesterday, Sensex ended the session at a closing high 40,469. The previous record high came at 40,606, hit in intra-day trade yesterday. Meanwhile, the broader Nifty hit the crucial 12,000-mark on Wednesday. IndusInd Bank, HDFC shares were among the biggest gainers, jumping up to 2%. 
Rupee opens lower at 71.05 per dollar - The Indian rupee opened at 71.05 per dollar on Thursday versus the previous close 70.98.
JB Chemicals share price gains 6% - The share price of JB Chemicals and Pharmaceuticals added more than 6 percent in the early trade on November 7 after the company is going to consider buyback of its shares. A meeting of the board of directors of the company will be held on November 12, 2019, to consi…

Stock Market News - Sun Pharma Falls, Yes, Bank gains

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 November 4 through open market transactions.
Biocon rises…

Stock Market News - Yes, Bank Recovers, Tata Motors slips 2%

NEWS ALERT | KEC International bags order worth Rs 1,806 cr: BSE filing
Railways: The Railway business has secured orders of Rs. 1,303 crore in India: Orders for overhead electrification of railway lines and associated civil works Construction of Road Over Bridges (ROBs), roadbeds, major and minor bridge
Transmission & Distribution: T&D business and SAE Towers have secured orders of Rs. 283 crore for T&D projects in India, East Asia Pacific and the Americas.
Civil: The Civil business has secured orders of Rs. 63 crore for civil and construction works in India.
Cables: The Cables business has secured orders of Rs. 157 crore for various types of cables/ cabling projects.
Yes, Bank Recovers After 15% Drop Shares of Yes Bank fell 4.9 percent to Rs 63.30. The stock had declined as much as 14.9 percent, the most in over a month, during the opening trade. The company announced its September quarter results on Friday.

ICICI Securities on Avanti Feeds - We expect Avanti to report revenue…