Market stages smart recovery on hope of FPI surcharge rollback##Market stages smart recovery on hope of FPI surcharge rollback

- Sensex and Nifty close near day’s high, up 599 and 192 points from lows, respectively.

- 41 of 50 nifty stocks close in the green; Vedanta, Zee, BPCL top gainers

- YES bank snaps 4-day losing streak on reports of $1.2 billion fundraising plan

- Along with stocks, rupee too sees a major gain from 8-month low of 72.04/$

- DLF up over 5 percent as company terms plea with respect to non-disclosure before SC, immaterial

- Most PSU banks close higher amid stimulus talks; PNB, Canara Bank top gainers

Aug 23, 2019 3:45 PM

Closing Bell: Sensex gains 228 points, Nifty holds 11,800; Zee, UPL up 6% each##Closing Bell: Sensex gains 228 points, Nifty holds 11,800; Zee, UPL up 6% each

Markets began the day sharply lower but rebounded to end higher on Friday on hopes that the government could announce a rollback of taxes for foreign portfolio investors. Finance Minister is likely to brief the media later today. The Sensex ended 228 points higher at 36,701, while the broader Nifty50 index added 88 points to end the day at 10,829. In broader markets, the Nifty Midcap rose 1 percent and Nifty Smallcap index advanced 0.76 percent. Zee, Vedanta, YES Bank, UPL, and BPCL, were top gainers on the Nifty50, while IndusInd Bank, ITC, Eicher Motors, ICICI Bank, and Kotak Bank led the losses. Among sectors, media, metal, PSU Banks led the gains, while FMCG and private banks were under pressure.

Aug 23, 2019 3:35 PM

These stocks have seen FY20 EPS downgrade in all 4 quarters

The June quarter disappointed the Street amid weak demand, slow private sector capital expenditure, liquidity crunch, and global trade issues.

Aug 23, 2019 3:16 PM

Maruti Suzuki to recall over 40,00 WagonR cars to rectify potential safety fault##Maruti Suzuki to recall over 40,00 WagonR cars to rectify potential safety fault

Maruti Suzuki, India’s largest passenger carmaker, on Friday announced that it will recall over 40,000 units of WagonR, one of its bestselling models, due to a fault that’s causing two parts to rub against each other, a potential safety concern. Maruti Suzuki said it will recall 40,618 WagonRs manufactured between November 15, 2018, and August 12, 2019. The fault is causing two parts—that is, the fuel hose and the metal clamp to rub against each other, Maruti Suzuki told CNBC-TV18. READ MORE

Aug 23, 2019 2:59 PM

Tech stocks gain as rupee tumbles to 8-month low##Tech stocks gain as rupee tumbles to 8-month low

The rupee tailwind has helped technology stocks rise over than 1 percent during Friday's trade. Tata Elxsi, Mindtree, TCS, Tech Mahindra, Wipro, HCL Technologies, NIIT Technologies and Infosys gained 0.7-2.8 percent. Moreover, Infosys touched a fresh record high of Rs 809.95.

Aug 23, 2019 2:45 PM

Jet fuel supply to Air India cut off at 6 airports, airline says no equity support from govt

While this is not the first time that fuel supply has been stopped to Air India, flight operations are likely to get disrupted if funds are not released soon.Get latest Aviation online at cnbctv18.com

Aug 23, 2019 2:24 PM

DLF recovers more than 7% from day's low##DLF recovers more than 7% from day's low

Shares of DLF recovered 7 percent from day's low on Friday after global brokerage maintained buy call on the stock with a target price of Rs 228, implying 58 percent potential upside from current levels. "Management mounted credible defence as an old legal matter popped up. The issue raised in petition filed before Supreme Court is indeed immaterial," CLSA said.

Aug 23, 2019 2:06 PM

Edelweiss Financial shares reel despite clarification on investment in Kohinoor Group##Edelweiss Financial shares reel despite clarification on investment in Kohinoor Group

Shares of Edelweiss Financial Services fell as much as 13 percent to Rs 93 on Friday following reports the Enforcement Directorate (ED) is examining an investment made by its unit Edelweiss Asset Reconstruction Company (ARC) in Kohinoor Group. The investigation, for the period of 2005-12, is part of the ED probe into alleged irregularities in awarding loans and investment made in the real estate firm by beleaguered Infrastructure Leasing & Financial Services (IL&FS). READ MORE

Aug 23, 2019 1:47 PM

Chris Wood of Jefferies says government action on Kashmir is bad news for the market

The order has given much greater credibility to the longstanding attack on Modi by his domestic critics that his agenda is to build a Hindu 'majoritarian' state and turn India into 'Hindustan', he added.Get latest Market online at cnbctv18.com

Aug 23, 2019 1:31 PM

CCD shares hit upper circuit for 5th consecutive session##CCD shares hit upper circuit for 5th consecutive session

Coffee Day Enterprises' share price hit an upper circuit for the fifth straight session on Friday. CCD shares have been rising after the company announced divestment in the real estate unit. After the demise of VG Siddhartha, the company announced of divesting Global Village Tech Park held by its subsidiary Tanglin Developments for an aggregate consideration of Rs 2,600-3,000 crore. READ MORE

Aug 23, 2019 1:14 PM

Yes Bank gains 9% on report of plans to raise additional Rs 9,000 crore##Yes Bank gains 9% on report of plans to raise additional Rs 9,000 crore

Shares of Yes Bank gained nearly 9 percent in intra-day deals on Friday after CNBC-TV18 reported that the private sector lender is in talks with private equity firms to raise Rs 9,000 crore. Yes Bank’s management is currently seeking permission for the fundraise from the board, which is likely to meet soon and take a decision, sources told CNBC-TV18. READ MORE

Aug 23, 2019 12:55 PM

Rupee slips below 72 per dollar: Key reasons behind the fall

Updated : August 23, 2019 12:19 PM IST The Indian rupee on Friday slumped to an eight-month low against the US dollar dragged by losses in stock markets across the world and Asian currencies such as Chinese yuan again the greenback.

Aug 23, 2019 12:39 PM

Sical Logistics locked at lower circuit amid rating downgrades##Sical Logistics locked at lower circuit amid rating downgrades

Shares of Sical Logistics were locked at 5 percent lower circuit on August 23 after Brickwork Ratings revised its rating on long term loans and short term fund facilities. Credit Rating Agency Brickwork Ratings has revised the ratings as to BWR BB- / BWR A4 from BWR BBB+/BWR A3+ for long term loans and short term fund and non-fund based facilities respectively for Sical Logistics.

Aug 23, 2019 12:21 PM

As more industries report a slowdown, real estate goes from bad to worse##As more industries report a slowdown, real estate goes from bad to worse

At a real estate conference in Mumbai recently, Khushru Jijina, the managing director of real estate lending major, Piramal Capital, took the stage to set the tone for the day. He said that whenever he was asked how the real estate sector was doing, his answer was borrowed from yesteryears villain Ajit, who had instructed his henchman to put his enemy in ‘liquid oxygen’ – the rationale being that the liquid wouldn’t let him live, and the oxygen wouldn’t let him die. Jijina said that real estate today was like that unfortunate patient. READ MORE

Aug 23, 2019 12:01 PM

Livelihoods more important than playing to galleries on Dalal Street, says Rajiv Bajaj

Rajiv Bajaj, the MD of Bajaj Auto is not known to mince words. At a time when the auto industry is cutting back on production and has slashed some 3.5 lakh temporary jobs, Bajaj had some scathing words for his peers.

Aug 23, 2019 11:40 AM

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