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Market Update - Welspun Corp Falls,Jet Airways Decline, Yes Bank low

Welspun Corp Falls - After Buyback Approval Shares of the pipe maker fell for the third straight trading session and declined as much as 6.8 percent to Rs 127. The company’s board approved buyback of its shares at a price of Rs 140 apiece, aggregating of up to Rs 390 crore. The buyback was at a premium of 7.6 percent to the previous close.

Centre To Divest 15% Stake In RITES The Government of India plans to divest 15 percent stake in RITES Ltd. Shares of RITES fell as much as 2.8 percent to Rs 235.05.

Jet Airways Extends Decline -  After CEO Resigns Shares of Jet Airways declined for the third consecutive trading session and fell as much as 6.9 percent to Rs 120. The company’s Chief Executive Officer Vinay Dube resigned, hours after his deputy and Chief Financial Officer Amit Agarwal quit.

Yes, Bank Near Six-Month Low - Shares of Yes Bank fell as much as 4.8 percent to Rs 148.30, the lowest since Nov. 29, 2018. The Reserve Bank of India appointed R Gandhi, a former deputy governor of the central bank, on the board of private lender, a rare decision usually taken when a lender needs close regulatory supervision.

SBI, IndusInd Bank, Axis Bank, ICICI Bank, Nestle India are among major gainers on the indices, while losers are Yes Bank, Dr. Reddy's Lab, Bharti Airtel, JSW Steel, Pidilite and Jet Airways. All the sectoral indices are trading in green led by energy, FMCG, auto, bank and IT

Rupee Opens: The Indian rupee opened higher by 10 paise at 70.34 per dollar on Wednesday versus previous close 70.44.

Market News | Welspun Corp | Rites Share | Jet Airways Crisis | Yes Bank | Rupee Update 


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