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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 crude oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth. Brent crude futures edged down 24 cents to $58.13 a barrel.

Rupee Update: The Indian rupee declined in the early trade on Monday. It opened lower by 8 paise at 70.96 per dollar versus Friday's close 70.88.

NIIT Gains After Fixing Record Date For Buyback Shares of the training services provider rose as much as 2.1 percent to Rs 92.55 apiece. The company’s board has fixed Oct. 18 as the record date for determining the shareholders eligible to participate in the buyback of equity shares, according to an exchange filing. The company will buy up to 2.68 crore shares at Rs 125 each aggregating to a total amount of Rs 335 crore.

MARKET UPDATE - Market update: Around 0925 hours IST, the BSE Sensex was 85 points, or 0.23 percent, down at 37,588, while the NSE Nifty was 46 points, or 0.41 percent, down at 11,129.

IndusInd Bank, Sun Pharma, Larsen & Toubro and Hero MotoCorp were trading as the top losers in the Sensex index. 

Sensex | Market News | Gold | Rupee | Top Gainers 


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