Sensex heatmap at close: Kotak Bank falls 6.5%, RIL down 4%##Sensex heatmap at close: Kotak Bank falls 6.5%, RIL down 4%

Dec 10, 2018 3:43 PM

Closing Bell: Sensex dips over 700 points, Nifty ends below 10,500##Closing Bell: Sensex dips over 700 points, Nifty ends below 10,500

The Sensex dipped more than 700 points, or 2 percent, to end at 34,959.72, while the Nifty declined by 205 points, or 1.92 percent, to 10,488. The Nifty MidCap also fell more than 2 percent, while the BSE MidCap slipped nearly 2 percent. Only 6 Nifty shares ended higher with large cap private bank stocks dragging indexes.

Dec 10, 2018 3:41 PM

Asian shares end down on fears of global growth slowdown##Asian shares end down on fears of global growth slowdown

Asian equities ended with huge losses today as the sentiment remained sour over fears of slowing global economic growth and due to tensions between the US and China, the world's two largest economies. Reports of weaker-than-expected November trade data in China also weighed on the stocks. Japan's Nikkei 225 was the worst performer in the region. Data showed the economy in Japan contracted the most in over four years in the third quarter as companies trimmed their capital spending amid uncertainty over global demand and trade tensions, according to a Reuters report.

Dec 10, 2018 3:22 PM

Central Govt contribution will be raised to 14% from existing 10% in NPS, says FM Arun Jaitley##Central Govt contribution will be raised to 14% from existing 10% in NPS, says FM Arun Jaitley

Dec 10, 2018 3:14 PM

Kotak Equities upbeat on Muthoot Finance on lower competition##Kotak Equities upbeat on Muthoot Finance on lower competition

Brokerage firm Kotak Institutional Equities has raised its target price on shares of Muthoot Finance by 6 percent to Rs 510 because it believes that lower competition from smaller non-banking finance companies might keep the overall growth momentum of the company upbeat. The brokerage firm has maintained its "add" rating on the company's shares. Given the liquidity tightening in this sector, some of the company's smaller peers are expected to struggle, while Muthoot Finance's market position is expected to improve, the brokerage firm said. At 3pm, shares of the company were down 1.5 percent at Rs 464.35.

Dec 10, 2018 3:12 PM

Zarin Daruwala not in the race for Yes Bank's top job##Zarin Daruwala not in the race for Yes Bank's top job

Zarin Daruwala on Monday denied being in the race for Yes Bank's CEO post. Daruwala is currently CEO, Standard Chartered Bank. In early October, Yes Bank appointed Korn Ferry to assist the bank's search panel for new CEO after the Reserve Bank of India (RBI) asked CEO and managing director Rana Kapoor to step down by February 1, 2019.

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Dec 10, 2018 2:37 PM

Infibeam Avenues cracks 9%, down for 4th session##Infibeam Avenues cracks 9%, down for 4th session

Shares of Infibeam Avenues slipped more than 9 percent to Rs 40.40, and were trading lower for the fourth session in a row. Weakness in the broader market also weighed on its shares. Infibeam shares have fallen more than 71 percent in 2018 so far.

Dec 10, 2018 2:33 PM

Major European indices in the red in early trade but showing signs of recovery##Major European indices in the red in early trade but showing signs of recovery

Dec 10, 2018 2:13 PM

Jet Airways falls 6 pc after ICRA downgrades rating##Jet Airways falls 6 pc after ICRA downgrades rating

Shares of Jet Airways on Monday dropped nearly 6 per cent after the credit rating agency Icra downgraded the airline's long-term ratings. After a negative opening on BSE, the scrip further declined 6.04 per cent to hit an intra-day low of Rs 259.50. The stock was trading at Rs 260.55 apiece, down 5.67 per cent from the previous close. Similarly, on NSE, the airline's stock tumbled 5.88 per cent to an intra-day low of Rs 260. Later, at 1259 hrs, the stock was trading 5.50 per cent lower at Rs 261.05. Jet Airways, in a regulatory filing Friday, said that credit rating agency Icra had downgraded the cash strapped air-carrier's long-term ratings from 'B' to 'C'. This has been the second such action by the agency since October. Instruments with 'C' rating are considered to have very high risk of default regarding timely servicing of financial obligations, as per the agency. The rating downgrade considers delays in the implementation of the proposed liquidity initiatives by the management, further aggravating its liquidity, as reflected in the delays in employee salary payments and lease rental payments to the aircraft lessors, the agency said. (PTI)

Dec 10, 2018 1:53 PM

NLC India hits 1-month low, falls for 4 days in a row##NLC India hits 1-month low, falls for 4 days in a row

Shares of NLC India fell 9 percent to hit a one-month low of Rs 67.80, extending losses to the fourth consecutive session, mirroring weakness in the broader market. So far today, 1.6 million shares of the company changed hands on the NSE, much higher than the six-month daily average of 415,748 shares. Shares of the company were 7.6 percent lower at Rs 69.

Dec 10, 2018 1:37 PM

Bharti Airtel falls 3 percent, Sensex, Nifty trade lower##Bharti Airtel falls 3 percent, Sensex, Nifty trade lower

Shares of Bharti Airtel fell 3 percent even as the Niger government ordered the closure of Airtel’s arm in the African country for nonpayment of over $107 million (about Rs 764 crore) in unpaid taxes. Shares traded at Rs 295.65, down by 2.73 percent on the NSE at 1.05 pm. Meanwhile, the Nifty50 traded 166 points down, or 1.56 percent, to 10,527. The Sensex was lower by 545 points, or 1.53 percent, to trade at 35,128.

Dec 10, 2018 1:06 PM

Kotak Bank sinks 6% as lender files case against RBI##Kotak Bank sinks 6% as lender files case against RBI

Shares of Kotak Mahindra Bank erased gains to fall as much as 6 percent as the bank has filed a case against the RBI, challenging the central bank's decision to not accept the lender's issuance of perpetual non-convertible preference shares as a means to dilute promoter stake. Promoter Uday Kotak has been asked to cut stake in the bank to 20 percent at the end of December from the current 30 percent. Shares of the lender were down 6 percent at Rs 1,202, the worst hit on the Nifty 50 index.

Dec 10, 2018 12:19 PM

Siam November data shows passenger car sales down 0.9% at 1.8 lakh units (YoY)##Siam November data shows passenger car sales down 0.9% at 1.8 lakh units (YoY)

Dec 10, 2018 11:32 AM

RIL falls 4% in weak market, down 7% in December so far##RIL falls 4% in weak market, down 7% in December so far

Shares of Reliance Industries fell over 4 percent to Rs 1,086, tracking weakness in the broader market and as investors tried to assess the likely impact of the company reportedly creating subsidiaries to handle its telecom and broadband businesses. A report in Mint newspaper said the oil-to-telecom conglomerate is creating seven subsidiaries of telecom arm Reliance Jio Infocomm to undertake the businesses of broadcasting, broadband internet, wireless, data and hosting services. Shares of the company have fallen 7 percent so far in December. At 11.30 am, RIL shares traded at Rs 1,088.05, down from 4.04 percent on the NSE.

Dec 10, 2018 11:30 AM

Lulu Group promoter Yusuff Ali says will not invest in Jet Airways "at this juncture"##Lulu Group promoter Yusuff Ali says will not invest in Jet Airways "at this juncture"

NRI businessman Yusuff Ali, the promoter of the multi-billion dollar Lulu Group, said he has no plans to buy a stake in the cash-strapped Jet Airways now, reasoning that aviation is not his core business, but left open the possibility of an investment later.

“At this juncture, we have not decided to invest in any airlines in India,” he told CNBC-TV18, in what is his first official remarks to the media on a potential Jet stake purchase.

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Dec 10, 2018 11:27 AM

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