Yes Bank ends 6 percent off lows after opening around 8% lower##Yes Bank ends 6 percent off lows after opening around 8% lower

Feb 18, 2019 3:49 PM

Closing Bell: Sensex, Nifty close sharply lower as bluechips drag##Closing Bell: Sensex, Nifty close sharply lower as bluechips drag

The Sensex fell by more than 310 points, or 0.87 percent, to settle at 35,498 at close. The Nifty declined 83 points, or 0.78 percent, to close at 10,641. The Nifty MidCap index closed at 0.93 percent lower, underperforming frontline peer. The Bank Nifty also fell over half a percent.

Feb 18, 2019 3:48 PM

Liquidity is tight & NBFCs are restless currently, says Udayan Mukherjee##Liquidity is tight & NBFCs are restless currently, says Udayan Mukherjee

Liquidity is very tight and non-banking financial companies (NBFCs) are skittish at this point in time, said Udayan Mukherjee of CNBC-TV18.

“There have been instances of haircuts which NBFCs, mutual funds, debt mutual funds have had to take in 2018, and significant haircuts too in one or two instances. One cannot blame them for liquidating paper of groups which they do not consider financially sound enough,” he added.

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Feb 18, 2019 3:25 PM

Jindal Steel up 4% on order win from Indian Railways, Sensex, Nifty extend losses##Jindal Steel up 4% on order win from Indian Railways, Sensex, Nifty extend losses

Shares of Jindal Steel & Power gained 4 percent as the company has received an additional order from Indian Railways to supply 30,000 tn long rails. With the additional order, the overall order size is about Rs 6.50 billion.Meanwhile, the Sensex was down almost 300 points, or 0.83 percent at 3.12 pm. The Nifty was lower by 76 points, or 0.71 percent, to trade below 10,650.

Feb 18, 2019 3:13 PM

Kaveri Seed shares under-pressure after Andhra Pradesh issues notice##Kaveri Seed shares under-pressure after Andhra Pradesh issues notice

Shares of Kaveri Seed Company under-pressure after Andhra Pradesh government issued a notice and cancelled the license of one company and suspended licenses of another 13 companies with relation to illegal sowing of herbicide-tolerant (HT) cotton seeds.

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Feb 18, 2019 2:59 PM

Lenders meet today to review two bids placed for Jaypee Infra: Sources##Lenders meet today to review two bids placed for Jaypee Infra: Sources

Feb 18, 2019 2:50 PM

Varun Beverages up on bottling rights deal with PepsiCo##Varun Beverages up on bottling rights deal with PepsiCo

Shares of Varun Beverages surged 6 percent as the company will acquire franchise rights of PepsiCo in southern and western regions for a national bottling, sales and distribution footprint in seven states and five union territories. The deal will help the company achieve greater scale, operational productivity and efficiency, leading to higher revenue and profitable growth. (Cogencis)

Feb 18, 2019 2:43 PM

Kaveri Seed falls as Andhra suspends licence for a year##Kaveri Seed falls as Andhra suspends licence for a year

Shares of Kaveri Seed Company hit a three-month low of Rs 458.75 after the Andhra Pradesh government suspended the company's licence to sell herbicide-tolerant cotton seeds for one year. Earlier, the government had issued notices to 13 companies for sale of herbicide-tolerant cotton seeds. Cotton seed sales in Andhra Pradesh account for less than 5% of the company's sales volume. (Cogenics)

Feb 18, 2019 2:29 PM

DHFL shares jump 12% on stake sale report##DHFL shares jump 12% on stake sale report

Shares of Dewan Housing Finance Ltd (DHFL) jumped as much as 12.25 percent towards the noon trade on report the company is in talks to sell a 10 percent stake to Baring India, Bain Capital and Hero Fincorp to raise funds. However, the company said it is yet to take a decision on bringing in strategic investors. It clarified that talks about the matter has not taken place as yet. At 02.02 PM, the stock was up 6.29 percent at Rs 130.80 a piece on the Bombay Stock Exchange.

Feb 18, 2019 2:17 PM

Indian Oil buys commissioning cargo of LNG for new Ennore terminal##Indian Oil buys commissioning cargo of LNG for new Ennore terminal

Indian Oil Corp (IOC) bought a commissioning cargo of liquefied natural gas (LNG) for its new Ennore terminal in south India, three industry sources said on Monday. State-owned IOC bought a partial LNG cargo for delivery on February 25 from commodities trader Gunvor, the sources said. It bought the cargo at about $9.50-9.90 per million British thermal units (mmBtu), one of the sources said. At 01:58 PM, shares of Indian Oil were trading at a 0.24 percent loss at the BSE. (Reuters)

Feb 18, 2019 1:58 PM

CARE revises Walchandnagar Industries’ bank facilities rating##CARE revises Walchandnagar Industries’ bank facilities rating

CARE Rating has revised its long-term ratings for engineering product company Walchandnagar Industries. The rating agency has revised its rating on the firm's long-term bank facilities to BB+/Stable from BB/Stable. Discussing the development, GK Pillai, managing director and CEO of the company, said the agency "does not give a real reflection of the company’s business and the long-term plan". “For the last four quarters, the company has been showing positive profits and we still are not accepting the CARE rating of BB plus,” he said.

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Feb 18, 2019 1:37 PM

Supreme Court refuses to allow reopening of Vedanta's Sterlite plant in Tuticorin##Supreme Court refuses to allow reopening of Vedanta's Sterlite plant in Tuticorin

The Supreme Court on Monday refused to allow the reopening of Vedanta's Sterlite plant in Tuticorin, setting aside the National Green Tribunal order, which had allowed the company to reopen the plant.The top court allowed the state's appeal on the grounds of maintainability and said the National Green Tribunal has no jurisdiction to order reopening of the plant.

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Feb 18, 2019 1:12 PM

Here are the highlights from RBI Governor and Finance Minister's briefing media post##Here are the highlights from RBI Governor and Finance Minister's briefing media post

Feb 18, 2019 12:58 PM

Bharti Infratel up 4%, top gainer among Nifty 50 stocks##Bharti Infratel up 4%, top gainer among Nifty 50 stocks

Shares of Bharti Infratel were up over 4 percent, and gained the most among Nifty 50 stocks, as investors look for value in a weak market, said dealers. Shares of the company had declined nearly 13 percent in the first four days of trading last week, and are being bought now as the business is seen steady, said an analyst. At 12.19 am, shares of Bharti Infratel were up 3.5 percent at Rs 317.55, with over Rs 3.9 million shares traded on the NSE versus a daily average of 2.1 million shares. So far in 2019, shares of the company have gained nearly 23 percent and are among the top gainers in the Nifty 50. (Cogencis)

Feb 18, 2019 12:43 PM

Tech Mahindra at record high as company to mull share buyback, Sensex, Nifty trade lower##Tech Mahindra at record high as company to mull share buyback, Sensex, Nifty trade lower

Shares of Tech Mahindra rose 3 percent to hit their record high of Rs 822 today after the company on Saturday said its board will consider a share buyback plan on Thursday. The announcement of consideration of share buyback by the company comes at a time when the stock has risen 12 percent in 2019 so far. The company is following other information technology companies which have gone down the route of share buybacks to return profits to investors, as it is seen as more tax efficient. At 11.55 am, shares of Tech Mahindra were up 1.16 percent at Rs 810. Benchmark indices traded with deep cuts with the Sensex plunging below 35,600, down by 232 points, or 0.65 percent. The Nifty was down by 68 points, or 0.64 percent, to trade at 10,655.95.

Feb 18, 2019 11:56 AM

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