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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

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 and PAT CAGRs of 12% and 19.9%, respectively, over FY19-FY22 and also expect it's RoE to be stable over the same timeframe. We, therefore, maintain our BUY rating on the stock with a DCF-based target price of Rs 536 (implied P/E 17x Sept21E EPS).

Alkem Laboratories Swings After Regulatory Inspection Shares of Alkem Laboratories fluctuated between gains and losses to trade little changed at Rs 2,001.95. The company said that the U.S. FDA has closed its inspection at its manufacturing facility in Daman and Baddi. The regulator has issued an EIR for both plants in the month of August when the inspection took place. 

Tata Motors slips 2% on weak October sales data - Shares of Tata Motors slipped 2 percent in the early trade on November 4 on the back of weak sales numbers for the month of October 2019. On November 1, the company reported a 34 percent fall in its October 2019 sales (domestic & international market) at 41,354 vehicles.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It has opened higher by 26 paise at 70.55 per dollar versus Friday's close 70.81.

Oil Check - At 8:05 am, Brent Crude Futures were at $61.36 per barrel mark.

Vodafone Idea rally for 3rd consecutive session; shares up 10% - Vodafone Idea rose more than 10 percent intraday and continued its upward journey for the third consecutive session on November 4 after the company management denied reports of exiting its India business.

Market News | Top Gainers | Yes Bank | Rupee | Gold | Bank Nifty


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