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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 trading session, the longest stretch of gains on record. The stock hit an upper circuit of 5 percent at Rs 6.30. The National Housing Bank has imposed a penalty of Rs 45,000 on the company for contravention of NHB Directions.

Rupee slips 34 paise Vs dollar in early trade -The Indian rupee declined in the early trade on November 8. It opened lower by 34 paise at 71.30 per dollar versus previous close 70.96.

Eicher Motors Q2 preview: Profit, revenue may fall over 10% - Eicher Motors is expected to see more than 10 percent fall YoY in the second quarter (July-September) profit and revenue, due to the weak performance of both Royal Enfield and commercial vehicle segments.
The stock has fallen more than 7 percent during the quarter as well as year-to-date but rallied 36 percent since September 20 when the government announced a cut in the corporate tax rate.

Oil Check - At 8:15 am, Brent Crude Futures were at $62.14 per barrel, down 0.22 percent from its previous close.

Yes Bank Rebounds After Large Trade  - Shares of Yes Bank swung form a fall of as much as 3.24 percent and rose as much as 4.74 percent to Rs 69.60. About 18.7 lakh shares of the Mumbai-based lender changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Market News | Bank Nifty | Rupee | Gold | Mindtree


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