Sensex Today: Sensex ends 83 points up, Nifty at 11,118; Hero MotoCorp up nearly 5% post result

Asian stocks traded lower amid dampened expectations for a resolution to the US-China trade war. SGX Nifty trades down 44 pts at 11,053.50. US stocks declined after Trump criticised China’s handling of key trade talks between the two countries.  

Brent Crude surged to $65/bbl on account of geo-political tensions between US-Iran. 

Shares of Coffee Day Enterprises shed another 20 % lower circuit to hit 52-week low for the second staight day by th eopening session Wednesday, after Coffee Day Enterprise MD and Chairman VG Siddhartha's was found dead in the Netravati River. His body was recovered by fishermen from near the Hoige Bazaar in Mangaluru on Wednesday morning.

 Listed companies that are due to post their June Quarterly earnings report today are namely Eicher Motors, Indian Oil Corporation, UPL, Ashok Leyland, Apollo Tyres, NR Agarwal Industries, Star Cement, Symphony, Zee Media Corporation, Allahabad Bank, Future Supply Chain Solutions, JBF Industries, SKM Egg Products, Tanla Solutions, Trent, Digicontent, Uttam Value Steels, MAS Financial Services, Gandhi Special Tubes, Tamilnadu PetroProducts, Shyam Century Ferrous, Maithan Alloys, BF Investment, Indian Energy Exchange, Ajanta Pharma, Kabra Extrusion Technik, Vardhman Special Steels, Indiabulls Ventures, Carborundum Universal, Container Corporation of India, Genus Paper & Boards, Heritage Foods, Blue Dart Express, Motilal Oswal Financial Services, Mahindra Holidays & Resorts India, Creditaccess Grameen, LG Balakrishnan & Bros, Sanwaria Consumer, HCL Infosystems, IndiaMart InterMesh, Sequent Scientific, Expleo Solutions, BF Utilities, Munjal Showa, Nelcast, Future Retail, Petronet LNG, CARE Ratings, Zydus Wellness, Tata Global Beverages, Hester Biosciences, Jagran Prakashan  

Indian currency--Rupee opens weaker at 68.90 against the dollar on Wednesday as compared to yesterday's close of 68.86 per dollar.

RITES announced today that," the Board of Directors of the Company at its meeting held on July 30, 2019 has approved the appointment of Shri Parmod Narang as the Chief Financial Officer (CFO) of the Company w.e.f. August, 01 2019 based on the recommendations of the Nomination and Remuneration Committee. Shri Parmod Narang is appointed in place of Shri Ajay Kumar Gaur (Director Finance) and CFO who is superannuating on 315‘ July, 2019," the filing added.  

"The ratings have been put on watch with negative implication (revised from watch with developing implication) as the aforesaid development may have a negative impact on the operations of CDEL, the extent of which cannot be ascertained as yet, given the nascent stage of developments. Further, as the aforementioned development may have a critical bearing on the group’s operations and credit profile, ICRA will continue to monitor further developments and will finalize the rating action once more clarity emerges on the same." ICRA ratings wrote.  

The share price of the country's third-largest private lender Axis Bank fell in the early trade on Wednesday despite decent earning figures as the bank failed to meet market estimates due to higher provisioning and slippages.

The stock created a gap-down chart pattern in the early trade on Wednesday and fell 1.77% on the opening bell to Rs 694. the stock later slipped 6.92% to the day's low of Rs 657.65 on BSE. Axis Bank stock has fallen over 7 % in the last 3 straight days and currently trades lower than 5, 20, 50, 100 and 200-day moving average.

NTPC Ltd. announced today that Shri Sudhir Arya, the Chief Financial Officer of the Public Sector Undertaking has been released from the services of the Company upon pre-mature retirement.

Reserve Bank has released a report suggesting relaxation in end-use stipulations under ECB Framework for Corporates and NBFCs, quoting, "Based on the feedback from stakeholders and with a view to further liberalise the ECB framework, it has been decided, in consultation with the Government of India, to relax the end-use restrictions relating to external commercial borrowings for Working Capital requirements, General Corporate purposes and Repayment of rupee loans. Accordingly, eligible borrowers will now be allowed to raise following ECBs from recognised lenders, except foreign branches/ overseas subsidiaries of Indian banks."

RBL Bank's board in its meeting held on date has accorded approval for raising equity capital of the Bank by an amount aggregating upto Rs 2000 crore (including premium) through Qualified Institutions Placement (QIP) subject to all approvals in this regard, out of the approval already accorded for raising Equity Capital aggregating upto Rs 4000.00 crore (including premium) through Qualified Institutional Placements (QIPs)/FPO /Rights Issue or in combination thereof.  

Shares totaling to 31.15 lakh held by promoter Mangal industries(MIL), of the Target Company Amara Raja Batteries, representing 1.82% voting rights stake have been sold to RNGalla Family (RFPL). The notice issued quoted, "the food business undertaking of MIL including investments in Amara Raja Batteries were transferred to RFPL."

After the Board meet,  company has appointed Mr. S. V. Ranganath as the interim chairman, Mr. Nitin Bagmane as an interim chief operating officer. The filing further added, "Constitution of an executive committee comprising Mr. S. V. Ranganath (Non-Executive lndependent Director), Mr. Nitin Bagmane (COO) and Mr. R. Ram Mohan (CFO) to exercise the powers previously vested with the Chief Executive Officer of the Company and the Administrative Committee constituted by the Board in 2015. "The Board will, in due course, prepare a detailed charter of authorities vested in the Executive Committee and approve the same. The Executive Committee will, inter alia, explore opportunities to deleverage the Coffee Day Group." The Board has also appointed Cyril Amarchand Mangaldas as its legal counsel to advise it on the foregoing and related matters.

Quess Corp has informed exchange platform about acquisition of 49,000 equity shares, aggregating to 0.13% stake, through the open market on July 30, 2019 by Ajit Abraham Isaac, promoter of the group. After the acquisition, the total share holding by the promoter has increasd to 12.13% amounting to 177 lakh shares. Shares of Quess Corp today has risen over 8% to Rs 434.40 on BSE , where it also trades as the top gainer.

Another listed company owned by VG Siddhartha, Sical Logistics share has taken a similar beating like the CCD stock and fell to 20% lower circuit on both the days (Tuesday and Wednesday). VG Siddhartha held 0.68% stake in Sical Logistics as of June quarter. On Wednesday, the stock price of Sical Logistics fell as much as 20% to a fresh 52-week low of Rs 58.25 on BSE. Similar to CCD share, Sical Logistics has no buyers bidding but only sellers with offers. It also tops the list of major losers on BSE platform.