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Showing posts from November, 2019

Stock Market News - Yes, Bank Jumps 9%, Cipla falls over 2%

Yes, Bank Jumps 9% on Plans To Consider Fund Raising Shares of Yes Bank halted a two-day fall and rose as much as 9.3 percent, the most in nearly a month, to Rs 69. The Mumbai-based lender plans to consider raising funds on Nov. 29. Bank approved as an accredited entity by Green Climate Fund to help mobilize Climate Finance in India.

Morgan Stanley Gives ICICI Bank Its Most Bullish Price Target Yet, Shares Swing Shares of ICICI Bank fluctuated between gains and losses to trade 0.2 percent lower at Rs 509.65.
Prestige Estate Projects Surges The Most In Over Eight Months Shares of Prestige Estate Projects rose as much as 14.9 percent to Rs 339.80. The company signed an agreement with Marriott International to open six new hotels across India, representing nearly 1,000 rooms. All hotels are expected to open between 2021-2025, according to its media statement.
Biocon share price rises 4% on USFDA approval: ​Biocon share price rose 4.5 percent on November 27 after the company and Mylan's …

Stock Market News - Eris Lifesciences Gains, Ashoka Buildcon rises 12%

Eris Lifesciences Gains After large Trade Shares of Eris Lifesciences rose as much as 5.4 percent to Rs 437. About 38.2 lakh shares of the company changed hands in a large trade, Bloomberg data showed. 
Buyers and sellers were not known immediately. Of the shares traded 57 percent were at the asking price and 28 percent were at the bid, according to Bloomberg data. The stock was the second-best performer on NSE Nifty 500 Index.
Safari Industries Gains After Ashish Kacholia Buys Stake Shares of Safari Industries rose as much as 3.5 percent to Rs 574. Well-known investor Ashish Kacholia acquired 2.18 lakh shares or 0.98 percent equity at Rs 550 each. 

Besides, Saif India Holdings acquired 5.78 lakh shares or 2.59 percent equity at Rs 540 each. Meanwhile, Tano India Private Equity Fund sold 10.7 lakh shares.
Ashoka Buildcon rises 12% on LoA from NHAI: ​Ashoka Buildcon share price rose 12 percent on November 25 after the company received a Letter of Award (LoA) from NHAI for the project of …

Stock Market News - NTPC Gains, BHEL Fall After Crisil Downgrade

NTPC Gains After Morgan Stanley Upgrades Stock Rating, Hikes Price Target Shares of NTPC rose as much as 3 percent to Rs 118.75. That comes after brokerage firm Morgan Stanley upgraded the stock rating to ‘Overweight’ from ‘Equal-weight’ and hiked price target to Rs 152 from Rs 146.7.

BHEL Fall After Crisil Downgrade Shares of Bharat Heavy Electricals fell as much as 1.8 percent to Rs 54.45. The stock extended declines for the second consecutive trading session. Crisil downgraded the rating of long-term bank facilities to ‘AA’ from ‘AA+’ with outlook revised from ‘Negative’ to ‘Stable’ due to company’s weaker than expected operating performance and the continued decline in net cash levels of the company during the first half of the current financial year.
Laurus Labs Halt Two-Day Losing Streak; Shares Gain 2% Shares of Laurus Labs halted their two-day losing streak. The stock rose as much as 2.1 percent to Rs 340. The company has received three observations on the pre-approval inspectio…

Stock Market News - Zee jumps up to 19%, BPCL Falls

Zee Entertainment jumps up to 19% on promoter stake sale, pares gain later - Shares of Zee Entertainment Enterprises (ZEEL) surged up to 19 percent to Rs 364 in the early morning deals on the National Stock Exchange (NSE) on Thursday after the promoter Essel Group sold nearly 15 percent stake in the company for Rs 4,343 crore. 

Around 142.87 million equity shares (representing 14.87 percent stake of ZEEL) changed hands on the NSE through block deals, the exchange data shows
Rupee Opening Alert - Rupee opens flat at 71.83/$ vs Wednesday's close of Rs 71.82 per US dollar
DHFL Fluctuates After RBI Supersedes Board Shares of Dewan Housing Finance Corporation swung to a fall of as much as 2.9 percent from a gain of as much as 4.9 percent. 
That comes after the Reserve Bank of India has superseded the board of Dewan Housing Finance Corporation Ltd. and intends to refer the non-bank lender for resolution under the newly introduced insolvency window for financial service providers.
Bharti Ai…

Stock Market News - RIL Hits, Yes Bank Extends Decline

RIL Hits Fresh Record High; Nears Rs 10 Lakh Crore Market Cap Mark Shares of Reliance Industries extended gains for the second consecutive trading session. The stock rose as much as 3.9 percent to hit an all-time high at Rs 1,569. The scrip is set to clock Rs 10 lakh crore in market capitalization.

Reliance Jio joins Airtel, Vodafone Idea to raise tariffs- Telecom tariffs are finally set to rise with Reliance Jio also on Tuesday stating that to strengthen the industry it will take measures like increasing tariffs in the next few weeks. 
On Monday, Vodafone Idea and Bharti Airtel had said that they will increase tariffs from December. This will be the first time since September 2016 — when Reliance Jio launched its services — that tariffs will be revised upwards by the telecom companies
Oil Check -- A far larger than expected rise in crude stocks led to a decline in prices. Brent crude futures stood at $60.91 a barrel early on Wednesday, after sliding 2.6 percent overnight. 
BROKERAGE RAD…

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…

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…

Stock Market News - Yes, Bank declines 4%, Bajaj Auto Sales Fall

NEWS ALERT | Jet fuel price cut by Rs 2,237 (3.4%) to Rs 62,672/kL in Delhi: CNBC TV18
NEWS ALERT | Zee Ent suspect Oppenheimer bought shares for a large media co: sources to CNBC TV18 -- Ask lenders to put shares in an Escrow account
NEWS ALERT | Japan September unemployment rate at 2.4% Vs market expectations of 2.2%: Reuters
NEWS ALERT | Sun Pharma gets US FDA nod for Sumatriptan Succinate: CNBC TV18 -- Drug used to relieve headache, pain & other migraine symptoms
NEWS ALERT | China October Manufacturing PMI at 51.7: Reuters -- Caixin IHS Markit October Manufacturing PMI at 51.7 Vs 51.4 MoM.
-- October PMI matches previous high of February 2017
-- China’s factory activity unexpectedly expanded at the fastest pace in well over two years since February 2017
Laurus Labs Jumps The Most In Nearly 33 Months After Q2 Results Announcement Shares of Laurus Labs rose as much as 13.3 percent, the most since February 2017, to Rs 418.80, the highest in over a year after the company announced its…