Sensex heatmap at close: Bharti Airtel ends 10% up, Yes Bank down over 7%##Sensex heatmap at close: Bharti Airtel ends 10% up, Yes Bank down over 7%

Nov 16, 2018 3:55 PM

Closing Bell: Sensex jumps 196 points, Nifty ends above 10,680##Closing Bell: Sensex jumps 196 points, Nifty ends above 10,680

The BSE Sensex ended 196 points higher, or 0.56 percent, to settle at 35,457, while the NSE Nifty50 closed at 10,682, rising 65.50 points, or 0.62 percent. The Nifty MidCap ended lower by 0.35 percent, while the BSE MidCap was flat. Shares of Bharti Airtel ended 9.3 percent higher. Other major gainers were HCL Technologies, Eicher Motors, Grasim, Reliance Industries, Hero MotoCorp, SBI, HDFC, rising by up to 3.38 percent. Among losers, Yes Bank dipped the most, settling lower by 7.21 percent. Indibulls Housing Finance also slipped nearly 5 percent. JSW Steel, Tata Steel, Indian Oil Corp., Maruti Suzuki, ONGC and Axis Bank were other losers, falling by up to 2.47 percent.

Nov 16, 2018 3:50 PM

Market update: Sensex, Nifty sustain gains ahead of close##Market update: Sensex, Nifty sustain gains ahead of close

Indian shares have largely sustained gains ahead of the closing trade led by Reliance Industries, HDFC twins, Bharti Airtel, SBI, Tata Consultancy Services and ITC. Yes Bank and Infosys along with Maruti Suzuki and ICICI Bank have capped gains. The Sensex traded at 35,443, higher by 183 points, or 0.52 percent at 3.05 pm, while the Nifty was at 10,668, gaining 52 points, or 0.49 percent.

Nov 16, 2018 3:09 PM

Deepak Fertilisers hits 2-year low as tax department raids premises##Deepak Fertilisers hits 2-year low as tax department raids premises

Shares of Deepak Fertilisers & Petrochemicals Corp fell nearly 4 percent to a two-year low of Rs 175.5 after the company said officials from the income tax department were carrying out a search operation at its office premises and plants. The company said the search operations at its premises began on Thursday and were continuing at the time of disclosure to stock exchanges. Income tax officials are surveying the premises for proof of income that the tax department believes has not been declared by the company. (Cogencis)

Nov 16, 2018 2:53 PM

Rupee trading at day's high of 71.72 against the US dollar##Rupee trading at day's high of 71.72 against the US dollar

Nov 16, 2018 2:07 PM

Vodafone Idea up 14% on equity, asset monetisation plan##Vodafone Idea up 14% on equity, asset monetisation plan

Shares of Vodafone Idea surged over 14 percent in heavy volumes as its equity raising and asset monetisation plan is seen bringing some relief in a tough telecom sector environment. Motilal Oswal Securities said Vodafone Idea has a tough task with a debt size of Rs 1.1 trillion, but equity funding of Rs 250 billion, along with tower sale value of Rs 53.7 billion, will up total cash in its books to Rs 440 billion to support capital expenditure and interest payments for 10-12 quarters. Vodafone Idea is also exploring sale of fibre network of over 156,000 km. Edelweiss Securities said all these plans would help company with a war chest to hold on to its market share. Motilal Oswal Securities has set the price target on shares of the company at at Rs 50, while Edelweiss Securities's price target for the stock is Rs 40. At 2 pm, shares of Vodafone Idea traded 12.47% higher at Rs 41.50 with over 53 million shares traded. So far in 2018, shares of Vodafone Idea were down 61 percent. (Cogencis)

Nov 16, 2018 2:00 PM

Housing finance companies down on liquidity risk worries##Housing finance companies down on liquidity risk worries

Shares of private sector housing finance companies were sharply down on worries over liquidity risks in the real estate sector due to stressed situation of many developers, said dealers. Shares of Indiabulls Housing Finance were down 4.8 percent at Rs 766.40, and the company's market capitalisation is the lowest in the Nifty 50 stocks. Shares of Indiabulls Housing are now down 12 percent from Tuesday. Among other shares, those of Dewan Housing Finance Corp. were down 4.6 percent at Rs 233, LIC Housing Finance down 2.2 percent at Rs 455.85, PNB Housing Finance down 0.1 percent at Rs 999.90, and Housing and Urban Development Corp. was 0.5 percent lower at Rs 44.25.

Nov 16, 2018 1:07 PM

Crude gains in trade as OPEC plans production cut in December##Crude gains in trade as OPEC plans production cut in December

Nov 16, 2018 12:17 PM

DHFL shares under pressure, NBFC issues NCDs worth Rs 1500 crore##DHFL shares under pressure, NBFC issues NCDs worth Rs 1500 crore

Dewan Housing Finance ltd issues NCDs worth Rs 1,500 crore at a coupon of 9.92 percent with maturity in 2028. Shares traded at Rs 237.70, down by 2.72 percent on the NSE. Meanwhile, the Nifty traded at 10,656, higher by 39 points, or 0.37 percent at 11.46 am, while the Sensex surged 128 points, or 0.36 percent, to 35,389.

Nov 16, 2018 11:50 AM

Venus Remedies surges on Elores phase-3 trial success##Venus Remedies surges on Elores phase-3 trial success

Shares of Venus Remedies hit their 20 percent upper circuit of Rs 48.35 after the company announced positive top-line results in the phase-3 clinical trials for its flagship product Elores. Elores is a patented critical care antibiotic combination targeting unmet medical needs in anti-microbial resistance space. Elores was launched in three Latin American markets and is scheduled to be introduced in Saudi Arabia on November 23, the company said in a filing to the stock exchanges. (Cogencis)

Nov 16, 2018 11:41 AM

Nigel Dsouza explains why Page Industries has lost $1.5 billion in market capitalization in the past 75 days##Nigel Dsouza explains why Page Industries has lost $1.5 billion in market capitalization in the past 75 days

Page industries has lost $1.5 billion in market capitalization in the past 75 days. The management has given a revenue growth guidance of 20 percent over the next 20 years, margins between 21 and 22 percent while return on equity is expected to remain above 50 percent. The second quarter ended September 30, 2018 was disappointing as revenues were up only 10 percent – weakest in over a decade. Pure earnings grew 10 percent, significantly lower than the estimated 30 percent growth. Credit Suisse said the ‘slowdown In Male Innerwear a serious concern’ and cut estimates between five and 12 percent over FY19 and FY21 period.

Nov 16, 2018 11:10 AM

Jet Air shares volatile, Tata Sons likely stake buy deal eyed##Jet Air shares volatile, Tata Sons likely stake buy deal eyed

Shares of Jet Airways India were up 7 percent at Rs 343.90 after swinging between losses and gains. Investors reacted to a slew of news related to a likely stake purchase in the beleaguered airline by Tata Sons. Jet Air shares fell as much as 5 percent earlier today after a report on CNBC-TV18 said that no formal announcement of a stake purchase in the airline by Tata Sons is expected today. Market participants were hopeful that Tata Sons would announce a deal soon, especially after a report said the government was keen on the Ratan Tata-led group rescuing the airline. Another report said Tata group's acquisition of Jet Air would hinge on the airline's founder Naresh Goyal relinquishing his seat on the board even if he holds a minority stake in the cash-strapped carrier. Shares of the airline had jumped 24 percent on Thursday on news of Tata Sons buying stake. (Cogencis)

Nov 16, 2018 11:07 AM

Market update: Sensex, Nifty extend gains led by Reliance Industries, HDFC twins, ITC##Market update: Sensex, Nifty extend gains led by Reliance Industries, HDFC twins, ITC

The BSE Sensex surged 238 points, or 0.67 percent, to trade at 35,498 at 10.08 am, while the Nifty traded at 10,676, up by 60 points, or 0.56 percent. Benchmark indexes surged higher on gains in Reliance Industries, HDFC twins, Tata Consultancy Services, IC, ICICI Bank, Bharti Airtel, L&T. Infosys, Yes Bank and ONGC dragged indexes. Midcaps, however, lagged behind limiting gains. The Nifty MidCap was trading higher by just 0.13 percent, while the BSE MidCap gained by 0.32 percent.

Nov 16, 2018 10:12 AM

Yes Bank shares falls 4% on OP Bhatt's resignation##Yes Bank shares falls 4% on OP Bhatt's resignation

Shares of Yes Bank are down over 4 percent in the morning trade as investors reacted to the news of OP Bhatt resigning from CEO & MD’s search panel. The stock has touched an intraday high of Rs 201.90 and an intraday low of Rs 196.65. Former SBI chairman O P Bhatt has resigned from the panel set up by Yes Bank to find a successor to its MD and CEO Rana Kapoor. Bhatt was an external expert on the Search and Selection Committee (S&SC), resigned with "immediate effect."

Nov 16, 2018 9:35 AM

HCL Technologies, Sun Pharma, Bharti Infratel among top index gainers##HCL Technologies, Sun Pharma, Bharti Infratel among top index gainers

Nov 16, 2018 9:28 AM

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