Sensex heatmap at close: TCS, Infosys jump 4.6% each, Yes Bank falls 12%##Sensex heatmap at close: TCS, Infosys jump 4.6% each, Yes Bank falls 12%

Nov 28, 2018 3:50 PM

Closing Bell: Sensex, Nifty end higher, midcaps underperform, Yes Bank tanks 12%##Closing Bell: Sensex, Nifty end higher, midcaps underperform, Yes Bank tanks 12%

The Sensex ended 203 points higher, or 0.57 percent, to 35,717, while the Nifty settled above 10,700, up by 43 points, or 0.40 percent, to 10,729. The Nifty MidCap ended lower by nearly a percent, while the BSE MidCap also slipped well over half a percent. TCS, Infosys, ZEEL, Reliance, HDFC twins were among top gainers, while Yes Bank shares tanked 12 percent. Downstream oil companies of BPCL, HPCL and IOC along with Bharti Airtel dipped by up to 5 percent.

Nov 28, 2018 3:46 PM

Market update ahead of close: Sensex up 231 points, Nifty at 10,730##Market update ahead of close: Sensex up 231 points, Nifty at 10,730

The Nifty traded at 10,730.05, up by 44 points, or 0.42 percent at 3.18 pm, while the Sensex surged by 230 points, or 0.65%, to trade at 35,743. Midcaps underperformed with the Nifty MidCap down by nearly a percent. The BSE MidCap also fell by more than half a percent. TCS, Infosy, ZEEL, Reliance Industries, HCL Technologies, IndusInd Bank and HDFC rose by up to 5 percent. Yes Bank shares fell 12 percent, while BPCL, Bharti Airtel, IOC, Tata Motors, ONGC and L&T dipped nearly 5 percent.

Nov 28, 2018 3:21 PM

REC tanks as company may be asked to buy out government's PFC stake##REC tanks as company may be asked to buy out government's PFC stake

Shares of REC plunged 11 percent after media reports suggested that the government may ask the company to buy out the Centre's stake in Power Finance Corp and later merge the two companies. The government currently holds 65.64 percent stake in Power Finance Corp., as per the latest shareholding data. The second part of the plan involves merging REC with Power Finance Corp. into a single entity. The move is likely motivated by the government's aim to meet its Rs 800-billion divestment target for 2018-19 (April-March). Shares of REC traded 9.34 percent down at Rs 110.60.

Nov 28, 2018 3:16 PM

Govt official says will seek interim dividend from RBI this fiscal too##Govt official says will seek interim dividend from RBI this fiscal too

Nov 28, 2018 3:10 PM

Yes Bank shares trade at 33-month low, falls 15% in last three sessions##Yes Bank shares trade at 33-month low, falls 15% in last three sessions

Shares of Yes Bank fell to a 33-month low of Rs 164.65, continuing its recent downtrend, after opening at Rs 180.40. The private sector bank's shares have fallen 15 percent in the last three sessions amid a series of negative news, denting investor confidence in the stock. For the year, the stock trades nearly 50 percent down. The immediate negative trigger for Yes Bank shares was Moody's Investors Service downgrading its rating outlook to negative from stable, citing board resignations and concerns over corporate governance.

Nov 28, 2018 2:57 PM

PSU refiners weak as global crude oil prices rise##PSU refiners weak as global crude oil prices rise

Shares of state-owned oil marketing companies were weak in trade as global crude oil prices rose nearly 2 percent. Global crude oil prices rose on disruption in production in the North Sea and as traders bet on a likely cut in oil output by members of the Organization of the Petroleum Exporting Countries and Russia. Rise in crude oil prices dent marketing margins of oil refiners. Marketing margin for petrol and diesel have recovered substantially in November, helped by a near 20 percent fall in oil prices. At 1.02 pm, shares of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp were down 1.2-2.8 percent.

Nov 28, 2018 1:26 PM

Realty companies fall as investors fret over possible default##Realty companies fall as investors fret over possible default

Shares of real estate companies slumped today as a sell-off in US dollar bonds of Lodha Developers triggered fears of a possible default by the company. The real estate sector has been under stress with the recent crisis in the non-banking finance companies drying up sources of short-term funding for many companies. The sector is also grappling with falling prices and high inventory. The Nifty Realty index has fallen nearly 35 percent in 2018 so far. At 12.40 pm, the Nifty Realty index was down 1.3 percent.

Nov 28, 2018 1:07 PM

Infosys, TCS, Reliance Industries and HDFC Bank surge in trade##Infosys, TCS, Reliance Industries and HDFC Bank surge in trade

Nov 28, 2018 12:50 PM

HSBC warms up to India ahead of general polls##HSBC warms up to India ahead of general polls

Brokerage firm HSBC upgraded Indian equities to "neutral" from "underweight" on Tuesday, saying valuations were more reasonable, investors' holdings were very low and strong earnings growth would continue next year. India is one of the fastest growing markets in Asia, with MSCI India EPS growth consensus -- a design to measure large-, mid- and small-cap segments of the stock market, seen at 18.8 percent in 2018 and 24 percent in 2019, HSBC said in a note titled "The Flying Dutchman". Read more

Nov 28, 2018 12:28 PM

Election fog clouds Indian stocks' outlook: Reuters Poll##Election fog clouds Indian stocks' outlook: Reuters Poll

The outlook for Indian stocks for 2019 has been downgraded for the first time this year, according to a Reuters poll of strategists who expect the market to recoup its recent losses only once uncertainty around next year's elections fade. Pressured by a steep sell-off in global equities along with dwindling credit supply, India's main stock index, the BSE Sensex, has fallen about 10 percent since hitting a life-high of 38,989.65 on August 29. October was its worst monthly decline since the financial crisis a decade ago. Read more

Nov 28, 2018 12:09 PM

Yes Bank shares plunge 5% on Moody's ratings downgrade##Yes Bank shares plunge 5% on Moody's ratings downgrade

Yes Bank shares dropped as much as 5 percent in morning on Wednesday after Moody's Investors Service downgraded lender's foreign currency issuer ratings with changing outlook to negative. It was an addition to 2.5 percent correction in previous session. Global brokerage house UBS has maintained its sell rating on the stock with a price target at Rs 150, implying 18 percent potential downside. The research house believes non-performing loans (NPL) recognition has yet to take place and is not fully priced in. It also believes the risk-reward is still unfavourable.

Nov 28, 2018 11:13 AM

Jet Airways promoter Naresh Goyal agrees to sell controlling stake in company##Jet Airways promoter Naresh Goyal agrees to sell controlling stake in company

Nov 28, 2018 11:05 AM

Inox Wind surges on pact to launch 3-MW wind turbine##Inox Wind surges on pact to launch 3-MW wind turbine

Shares of Inox Wind gained 5 percent as the company has signed an exclusive agreement with AMSC, a global solutions provider serving the wind and power grid industry, to launch a 3-MW wind turbine in India. A 3-MW wind turbine is an extension of the company's 2-MW wind turbine generator product offering. At 10.58 am, shares traded at Rs 84.75, higher by 3.10 percent on the NSE. Meanwhile, the 50-share Nifty50 traded at 10,726, up by 41 points, or 0.38 percent. The Sensex trimmed gains, trading higher by 173 points, or 0.49 percent, to 35,685.

Nov 28, 2018 10:59 AM

Atul Auto up on JV with JBM Industries for electric 3-wheelers##Atul Auto up on JV with JBM Industries for electric 3-wheelers

Shares of Atul Auto gained 3 percent as the company said that it has signed a joint venture agreement with JBM Industries to manufacture three-wheeler electric autos. JBM Industries is primarily engaged in manufacturing of sheet metal components and fabrication. At 10.20 am, shares of Atul Auto traded 1.72 percent higher at Rs 342. So far in 2018, the stock has shed 21 percent.

Nov 28, 2018 10:20 AM

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