Sensex Today: Sensex ends 163 points higher, Nifty at 11,003; Quess Corp jumps 6% Sep 09, 2019, Updated Sep 09, 2019, 4:24 PM IST

Sensex Today: Equity market indices closed on a positive note for the fourth staright session on Monday, amid positive Asian cues, with Sensex trading over 37,000 mark and Nifty50 at 11,000 level. Sensex ended Monday's trade at 37,145, registering a rise of 163 points and Nifty50 closed 56 points higher at 11,003.

Sensex Today:  Sensex ended Monday's trade at 37,145, registering a rise of 163 points and Nifty50 closed 56 points higher at 11,003. Sensex Today: Sensex ended Monday's trade at 37,145, registering a rise of 163 points and Nifty50 closed 56 points higher at 11,003.
10:28 AM (2 years ago)

Market Update

Posted by :- Rupa Roy
Sensex Today: Benchmark indices traded on a bullish note on Monday backed by strong global cues. Currently Sensex is rising 110 points to 37,104 level and Nifty trades 43 points higher at 10,989.

10:30 AM (2 years ago)

Global Market Update

Posted by :- Rupa Roy

Globally markets traded mixed. Asian stocks rise as Chinese exports unexpectedly decline. On the Singaporean Exchange, SGX Nifty traded flat with negative bias at 10,956.

On the Wall Street, US Futures (Dow Jones) traded at 26854, up 46 pts or 0.17%. US stocks edged higher on Friday as a new Chinese stimulus plan helped ease some concerns
around global growth, while investors digested underwhelming jobs data that rounded off a week of mixed economic signals.
10:31 AM (2 years ago)


Posted by :- Rupa Roy
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 957.05 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 1,207.20 crore on Friday.

10:34 AM (2 years ago)

Gautam Thapar takes legal action against CG Power board

Posted by :- Rupa Roy

Gautam Thapar, the former Chairman of CG Power and Industrial Solutions has sent a legal notice to the company board over his removal, calling it illegal. Thapar was accused by the board of siphoning funds from the company after a multi-crore scam was unearthed last month. The company said it will respond to the notice after consulting with its legal team.

Gautam Thapar was fired on August 29 after whistleblowers informed board members that some transactions were not allegedly covered in the company's audited accounts.

Former CG Power Chairman Gautam Thapar takes legal action against board
10:36 AM (2 years ago)

Sectors update

Posted by :- Rupa Roy
Sectorally, only auto, IT and metal indices were trading in the red, while most gains in Monday's trading session were registered in FMCG, banking and financial indices.

10:46 AM (2 years ago)

SBI cuts MCLR By 10 bps effective September 10

Posted by :- Rupa Roy

State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

"In view of the falling interest rate scenario and surplus liquidity, SBI also realigns its interest rate on term deposits (TD) w.e.f. September 10. Bank slashes retail TD rates by 20-25 bps and bulk TD rates by 10-20 bps across tenors," SBI said.

SBI cuts fixed deposit rates up to 25 bps, MCLR up to 10 bps across tenors

10:48 AM (2 years ago)

Brent crude trades higher

Posted by :- Rupa Roy

Oil rose 1.09% higher on Monday to $62.21/bbl, on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.

10:53 AM (2 years ago)

Rupee rises to 71.58 vs US Dollar

Posted by :- Rupa Roy
The rupee appreciated by 14 paise to 71.58 against the US dollar in early trade on Monday as China's easing move and rate cut hopes by the US Fed enthused investors.

At the interbank foreign exchange the rupee opened at 71.72, then gained further ground and touched a high of 71.58, registering a rise of 14 paise over its previous close.

Rupee had settled at 71.72 against the US dollar on Friday.

Rupee vs dollar: Rupee rises 14 paise to 71.58 against USD on strong global cues
10:56 AM (2 years ago)

Asian markets upbeat after China's easing move

Posted by :- Rupa Roy

Most Asian markets started Monday on a positive note to build on last week's gains after China unveiled fresh stimulus measures and below-par US jobs data reinforced expectations the Federal Reserve will cut interest rates this month.

In a bid to inject more liquidity into the economy, the People's Bank of China on Friday said it would slash the amount of cash lenders must keep in reserve to its lowest level in 12 years.


11:22 AM (2 years ago)

Coffee Day Enterprises hits 5% upper circuit

Posted by :- Rupa Roy
Coffee Day Enterprises rose 5% uppper circuit limit of Rs 63.95 after the company announced that it has appointed 'IDFC Securities' as the Advisor of Company and its subsidiaries for identifying the strategic options for Coffee Day Enterprises Limited ("CDEL") including divestment of its holding in Coffee Day Global Limited and any other group company (other than SICAL Logistics Limited) as well as to advise on refinancing of existing debt and raising additional facilities to repay debt in CDEL and its subsidiaries.

11:28 AM (2 years ago)

Ashok Leyland declines on announcement of non-working days

Posted by :- Rupa Roy
Shares of Ashok Leyland were trading lower by 2.8% to Rs 62.10, its intrady low after the auto maker announced non-working days for 5 plants in September due to weak demand. Company on its BSE filing, stated that," The following are the non-working days at our various plant locations during September 2019, due to continued weak demand for our products".

As per the filing, Ennore plant will be having 16 non working days, whereas Hosur 1,2 and CPPS plant will get 5 non working days , 10 days each for Bhandara and Alwar plant and 18 days for Pantnagar plant.

11:35 AM (2 years ago)

Equitas holding declines 10%

Posted by :- Rupa Roy

Shares of Equitas Holding (EHL) fell 10% intraday to Rs 104.4 on BSE, as the company proposed a new scheme to list its Equitas Small Finance Bank (ESFB).

Company on its press release dated September 7, 2019, Since EHL, company is listed and ESFB  is a wholly owned subsidiary, EHL approached the Regulator with a reverse merger proposal. the filing added," Licensing conditions for Small Finance Banks require SFBs,which have a capital base of over Rs500 croreto list within three years from commencementof operations. ESFB was consequently to list on or before September 4, 2019."

"ESFB had applied to SEBI for their approval of this Scheme. Post such an approval, application to NCLT is required to be made for the remaining approvals. In case the Scheme of Arrangement does not get approved, ESFB would be taking immediate steps for an IPO and get its shares listed as soon as possible," company said in a regulatory filing.
12:15 PM (2 years ago)

L&T Construction receives award of order

Posted by :- Rupa Roy
Shares of L&T Construction rose 1.99% to Rs 1,354.85 intraday against the last closing price of Rs 1,328.40, after the company announced it has benn awarded a 'Major Contract' valued between Rs 5,000-7,000 cr to construct Residential Project in Navi Mumbai.

The Indian multinational stated in its regulatory filing that," The Buildings Et Factories business of L&T Construction has secured a prestigious residential project from the City and Industrial Development Corporation of Maharashtra Limited (CIDCO) to construct 23,432 dwelling units with on-site infrastructure works at various locations in Navi Mumbai."
12:58 PM (2 years ago)

DHFL shares surge 10% intraday

Posted by :- Rupa Roy
Despite DHFL defaulting on Rs 20.24 crore worth of interest payments on NCDs, as per its latest regualtory filing, the share price of the housing finance company rose 10% intraday to Rs 51.30 on BSE, reacting to the news reports that DHFL has paid the entire pending amount to DSP Mutual Fund. DSP MF had an exposure of Rs 150 cr to DHFL's commercial papers (CP).

Initially, the stock fell over 2% intrday low to Rs 45.50 on BSE, although, later rose 10% intraday to Rs 51.30 on BSE.

1:08 PM (2 years ago)

India's passenger vehicle and car sales record steepest fall ever in August

Posted by :- Rupa Roy

India's monthly passenger vehicle and car sales recorded their steepest fall ever in August, according to data released by an industry body on Monday, highlighting the continued slowdown in the sector amid assurances by the government for revival.

Passenger vehicle sales plunged 31.57% year-on-year to 196,524 units in August, falling for the 10th straight month, the Society of Indian Automobile Manufacturers (SIAM) data showed, while passenger car sales fell 41.09% to 115,957 units.

This is the worst-ever fall for both the categories since SIAM started recording the data in 1997-98.

India's monthly passenger vehicle sales record steepest-ever drop in August

1:21 PM (2 years ago)

Market update

Posted by :- Rupa Roy
Sensex Today: Equity market indices extended gains in afternoon session Monday, amid positive Asian cues, with Sensex trading over 37,000 mark and Nifty50 at 11,000 level. Currently, Sensex is trading 222 points higher at 37,203 and Nifty50 is trading 70 points higher at 11,016 mark.
1:28 PM (2 years ago)

Sectors Update

Posted by :- Rupa Roy
Other than IT, every sector is declining at the rate of 0.62%.  All the indices are trading in the green, with most advances registered in Banking, FMCG, media and financial services' sector.
1:41 PM (2 years ago)

L&T Tech wins new electrification project from European automobile OEM

Posted by :- Rupa Roy

Shares of L&T Technology Services rose 1% intraday to Rs 1641.50, after the tech giant announced it has won new electrification project from European automobile OEM.

The company announced that it has been selected as a strategic partner by a European automotive manufacturer for its electric Powertrain (ePowertrain) practice. "LTTS will be responsible for the functional qualification of the ePowertrain ECUs (Electronics Control Unit)," the company said in its regulatory filing today.

On this developement, Gaurav Gupta, Chief Business Officer of Europe at L&T Technology Services commented, “LTTS assists global automotive companies in their transition towards electric cars and sustainable mobility. Our team has developed cutting edge electric and hybrid solutions that can help the world’s leading OEMs and Tier 1 manufacturers drive mobility into the future. LTTS’s HIL capabilities add advanced functionality to shorten the overall development cycle while increasing the stability and reliability of the plant,” said Gaurav Gupta, Chief Business Officer of Europe at L&T Technology Services.
1:56 PM (2 years ago)

Bank of Maharashtra reduces MCLR

Posted by :- Rupa Roy

Bank of Maharashtra announced it its latest filing that the bank has reduced MCLR effective from September 7, 2019, in terms of RBI Guidelines.
2:07 PM (2 years ago)

Infosys collaborates with Microsoft to enable digital transformation for JG Summit Holdings

Posted by :- Rupa Roy

Infosys in collaboration with Microsoft, today announced a long-term strategic partnership with JG Summit Holdings, Inc headquartered in Manila, Philippines. As technology services partner, Infosys will help formulate and execute the digital transformation strategy for JG Summit.

"The collaboration between Microsoft and Infosys will offer JG Summit seamless implementation and migration to Microsoft Azure cloud platform, to develop an agile and robust digital infrastructure for its business processes," the IT firm said in the regulatory filing.