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Sensex Today: Sensex ends 50 points higher, Nifty at 11,687; PSU Bank stocks rally

BusinessToday.In | July 18,2019 11:11 IST

Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty closed higher led by gains in PSU Bank and FMCG stocks. BSE S&P Sensex ended at 39,215, with 84 points of advance, and NSE Nifty50 closed 24 points up at 11,687.

 

 

 

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  • BSE S&P Sensex ended at 39,215, with 84 points of advance, and NSE Nifty50 closed 24 points up at 11,687.
  • Jul 18, 2019 11:11 (IST)

    L&T Hydrocarbon Engineering bags Mega project in Saudi Arabia



    LEtT Hydrocarbon Engineering Limited (LTHE), a subsidiary of Larsen Et Toubro based in Mumbai, India, has been awarded another Mega project of over Rs 7,000 cr in the Marjan Field by Saudi Aramco for oil facilities for Marjan Oil increment Engineering, Procurement, Construction and Installation (EPCI) project.

    "The Saudi company's trust on LTHE's commitment to consistent project performance and ability to put the best team of young professionals to deliver value, time and again has resulted in the award of this mega contract for oil facilities for the Marjan Increment Program, " company said the regulatory filing.

  • 11:11 IST:

    LEtT Hydrocarbon Engineering Limited (LTHE), a subsidiary of Larsen Et Toubro based in Mumbai, India, has been awarded another Mega project of over Rs 7,000 cr in the Marjan Field by Saudi Aramco for oil facilities for Marjan Oil increment Engineering, Procurement, Construction and Installation (EPCI) project.

    "The Saudi company's trust on LTHE's commitment to consistent project performance and ability to put the best team of young professionals to deliver value, time and again has resulted in the award of this mega contract for oil facilities for the Marjan Increment Program, " company said the regulatory filing.

  • Jul 18, 2019 11:02 (IST)

    Fall in oil price steadies



    Oil prices steadied on Thursday after falling in the previous session when official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.

    Crude production was disrupted last week by Storm Barry, which came ashore on Saturday in central Louisiana as a Category 1 hurricane, the first major storm to hit the U.S. Gulf of Mexico this season.

    More than half of daily crude production in the Gulf of Mexico remained offline by Tuesday, as most oil companies were re-staffing facilities to resume production.

    On the oil supply front, data on Wednesday from the U.S. Energy Information Administration showed a larger-than-expected drawdown in crude stockpiles last week, but traders focused on large builds in refined product inventories dragging prices down.

    (Reuters)

  • 11:02 IST:

    Oil prices steadied on Thursday after falling in the previous session when official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.

    Crude production was disrupted last week by Storm Barry, which came ashore on Saturday in central Louisiana as a Category 1 hurricane, the first major storm to hit the U.S. Gulf of Mexico this season.

    More than half of daily crude production in the Gulf of Mexico remained offline by Tuesday, as most oil companies were re-staffing facilities to resume production.

    On the oil supply front, data on Wednesday from the U.S. Energy Information Administration showed a larger-than-expected drawdown in crude stockpiles last week, but traders focused on large builds in refined product inventories dragging prices down.

    (Reuters)

  • Jul 18, 2019 10:59 (IST)

    FII and DII

    The net investment of equity and debt reported by Foreign portfolio investment (FPIs) remained bearish with net selling of Rs 17 crore from Indian equities while Domestic institutional investors (DIIs) have bought Rs 208 crore Thursday.

  • 10:59 IST: The net investment of equity and debt reported by Foreign portfolio investment (FPIs) remained bearish with net selling of Rs 17 crore from Indian equities while Domestic institutional investors (DIIs) have bought Rs 208 crore Thursday.

  • Jul 18, 2019 10:18 (IST)

    Global Market Update


    Asian equities at low point of the day in early trade amid renewed trade tensions between US and China, with Japanes indx Nikkei also sliping more than 1%.
    On the Wall Street, US market ended yesterday's session on the low, with Dow Jones dropping for the second session amid earnings season.

  • 10:18 IST:
    Asian equities at low point of the day in early trade amid renewed trade tensions between US and China, with Japanes indx Nikkei also sliping more than 1%.
    On the Wall Street, US market ended yesterday's session on the low, with Dow Jones dropping for the second session amid earnings season.

  • Jul 17, 2019 16:04 (IST)

    Closing Bell

    Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty closed higher led by gains in PSU Bank and FMCG stocks. BSE S&P Sensex ended at 39,215, with 84 points of advance, and NSE Nifty50 closed 24 points up at 11,687.

  • 16:04 IST: Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty closed higher led by gains in PSU Bank and FMCG stocks. BSE S&P Sensex ended at 39,215, with 84 points of advance, and NSE Nifty50 closed 24 points up at 11,687.

  • Jul 17, 2019 15:07 (IST)

    Apollo Hospitals' family mulls stake, asset sales to cut debt




    Reddy family that controls Apollo Hospitals Enterprise Ltd and owns about 34 per cent of Apollo’s stock, is looking to sell assets or bring an outside investor into their holding company to pay down debt, reported Bloomberg.

    “The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20 per cent of their total holding in the company from about 78 per cent now,” said Suneeta Reddy, Apollos managing director and one of the four daughters of founder Prathap Reddy.

    “The idea is to do something that’s good for all shareholders of Apollo. If it means reducing our pledge, we are committed to doing that,” she said in an interview with Bloomberg. “We will see what the family can do.”

  • 15:07 IST:


    Reddy family that controls Apollo Hospitals Enterprise Ltd and owns about 34 per cent of Apollo’s stock, is looking to sell assets or bring an outside investor into their holding company to pay down debt, reported Bloomberg.

    “The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20 per cent of their total holding in the company from about 78 per cent now,” said Suneeta Reddy, Apollos managing director and one of the four daughters of founder Prathap Reddy.

    “The idea is to do something that’s good for all shareholders of Apollo. If it means reducing our pledge, we are committed to doing that,” she said in an interview with Bloomberg. “We will see what the family can do.”

  • Jul 17, 2019 14:52 (IST)

    Renuka Ramnath appointed as an Additional Director of TV18



    TV18 Broadcast has informed the exchanges that the board has approved appointment of Ms. Renuka Ramnath, as an Additional Director on July 16, 2019, designated as an Independent Director, for the term period of 5 years.

    As per the filing, Renuka Ramnath, aged 58 years, is the Founder, Managing Director and CEO of Multiples Alternate Asset Management, a private equity manager and advisor to funds of - USD 1 bn. She has over 30 years of experience in the Indian financial sector across private equity, investment banking and structured finance.

  • 14:52 IST:

    TV18 Broadcast has informed the exchanges that the board has approved appointment of Ms. Renuka Ramnath, as an Additional Director on July 16, 2019, designated as an Independent Director, for the term period of 5 years.

    As per the filing, Renuka Ramnath, aged 58 years, is the Founder, Managing Director and CEO of Multiples Alternate Asset Management, a private equity manager and advisor to funds of - USD 1 bn. She has over 30 years of experience in the Indian financial sector across private equity, investment banking and structured finance.

  • Jul 17, 2019 14:38 (IST)

    NMDC's June Iron Ore Production & Sales for the month of June 2019




    In monthly figures, NMDC's June iron ore sales up 18.2% at 2.66 mt in July 2019 from 2.5 mt YoY, inclusive of both Karnataka and Chattisgarh plant, while on cumulative basis, the sales figures are standing at 8.73 mt this month compared to 6.78 recorded in the corresponding month last year.



    Meanwhile, the total iron ore production in June month went up 2.9% at 2.52 mt against 2.45 mt YoY, inclusive of both Karnataka and Chattisgarh plant. on Cumulative basis, sales figure went up from 6.97 mt to 8.46 YoY.

  • 14:38 IST:


    In monthly figures, NMDC's June iron ore sales up 18.2% at 2.66 mt in July 2019 from 2.5 mt YoY, inclusive of both Karnataka and Chattisgarh plant, while on cumulative basis, the sales figures are standing at 8.73 mt this month compared to 6.78 recorded in the corresponding month last year.



    Meanwhile, the total iron ore production in June month went up 2.9% at 2.52 mt against 2.45 mt YoY, inclusive of both Karnataka and Chattisgarh plant. on Cumulative basis, sales figure went up from 6.97 mt to 8.46 YoY.

  • Jul 17, 2019 14:31 (IST)

    DCB Bank falls 16% post results

    DCB Bank Ltd dropped over 16% after the lender’s asset quality deteriorated during the June quarter.


  • 14:31 IST: DCB Bank Ltd dropped over 16% after the lender’s asset quality deteriorated during the June quarter.


  • Jul 17, 2019 14:15 (IST)

    Strides Pharma declines over 8%

    Shares of drug maker Strides Pharma Science Ltd plunged 8.1% to a near one-year low after the U.S. Food and Drug Administration said it found adulteration and significant violations of regulations at the company’s plant in south India. The drugmaker was caught trying to dispose quality-control records, the FDA said in a letter made public on July 16.

  • 14:15 IST:
    Shares of drug maker Strides Pharma Science Ltd plunged 8.1% to a near one-year low after the U.S. Food and Drug Administration said it found adulteration and significant violations of regulations at the company’s plant in south India. The drugmaker was caught trying to dispose quality-control records, the FDA said in a letter made public on July 16.

  • Jul 17, 2019 12:14 (IST)

    HDFC AMC hits 52-week high on Q1 numbers



    HDFC Asset Management Company (AMC) stock jumped nearly 7% to hit 52-week high of Rs 2,127.85 on Wednesday, after it reported a 42.15 % rise in net profit YoY rise to Rs 291.79 crore for the quarter ended June 30 yesterday, compared to Rs 205.26 crore recorded in the corresponding quarter last year.

  • 12:14 IST:

    HDFC Asset Management Company (AMC) stock jumped nearly 7% to hit 52-week high of Rs 2,127.85 on Wednesday, after it reported a 42.15 % rise in net profit YoY rise to Rs 291.79 crore for the quarter ended June 30 yesterday, compared to Rs 205.26 crore recorded in the corresponding quarter last year.

  • Jul 17, 2019 12:11 (IST)

    Oil Update

    Oil steadied after falling more than 3 per cent overnight, with US crude trailing Brent after US inventory data fell short of expectations, amid conflicting signals from the US and Iran over the disputes that have roiled prices recently.

    Brent crude futures were up 16 cents at $64.51, or 0.3 per cent by 0027 GMT. They ended 3.2 per cent down the previous session, after falling to the lowest since July 5.

    (Reuters)

  • 12:11 IST: Oil steadied after falling more than 3 per cent overnight, with US crude trailing Brent after US inventory data fell short of expectations, amid conflicting signals from the US and Iran over the disputes that have roiled prices recently.

    Brent crude futures were up 16 cents at $64.51, or 0.3 per cent by 0027 GMT. They ended 3.2 per cent down the previous session, after falling to the lowest since July 5.

    (Reuters)

  • Jul 17, 2019 12:10 (IST)

    Edelweiss to sell 20% of wealth business



    Financial services group Edelweiss might sell a 20% stake in its wealth management unit to an US-based investment firm Kora Management, a media report said, so as to meet its debt obligations during the quarter.

    “Edelweiss will raise Rs 2,000 crore by selling this stake and it will help in meeting debt obligations during this quarter,” confirmed a source to ET Times.

    “Edelweiss is in touch with prominent global institutional investors, who want to invest in high quality companies and are keen to partner in the India growth story,” source said as per media report.

  • 12:10 IST:

    Financial services group Edelweiss might sell a 20% stake in its wealth management unit to an US-based investment firm Kora Management, a media report said, so as to meet its debt obligations during the quarter.

    “Edelweiss will raise Rs 2,000 crore by selling this stake and it will help in meeting debt obligations during this quarter,” confirmed a source to ET Times.

    “Edelweiss is in touch with prominent global institutional investors, who want to invest in high quality companies and are keen to partner in the India growth story,” source said as per media report.

  • Jul 17, 2019 12:04 (IST)

    Greaves Cotton seeks certain relaxations from SEBI and Fin Min w.r.t. buyback




    Greaves Cotton has received interim observations from SEBI and is in the process of addressing them.

    In light of the proposal to introduce a tax on distributed income by listed companies undertaking buyback of shares, it is hereby submitted that the Company has filed:

    (a) a representation before the Ministry of Finance seeking clarifications on the applicability of the proposal, and

    (b) an application with SEBI informing them about the representation filed before the Ministry of Finance and seeking certain relaxations from them with respect to the Buyback.

    "Further disclosures in this regard will be made as and when it is required under the applicable regulations" the company said in a regulatory filing.

  • 12:04 IST:


    Greaves Cotton has received interim observations from SEBI and is in the process of addressing them.

    In light of the proposal to introduce a tax on distributed income by listed companies undertaking buyback of shares, it is hereby submitted that the Company has filed:

    (a) a representation before the Ministry of Finance seeking clarifications on the applicability of the proposal, and

    (b) an application with SEBI informing them about the representation filed before the Ministry of Finance and seeking certain relaxations from them with respect to the Buyback.

    "Further disclosures in this regard will be made as and when it is required under the applicable regulations" the company said in a regulatory filing.

  • Jul 17, 2019 12:01 (IST)

    Larsen & Toubro Infotech Global to acquire Lymbyc Solutions





    Larsen & Toubro Infotech Ltd has signed a definitive agreement to acquire Lymbyc Solutions Private Limited, headquartered in Bangalore along with additional offices in Chennai and Texas, US, for an enterprise value of Rs 38 cr in an all-cash, debt-free basis, which will be paid as a combination of upfront and three year earn-out payments. Consideration value is subject to working capital adjustments. After the acquisition, LTI will acquire 100% of Equity shares of Lymbyc

    Incorporated in 2012 in Chennai,Lymbyc Solutions Private Limited ('Lymbyc'), is a specialist Al, machine learning, and advanced analytics company with their proprietary product 'Leni'.

    The platform has a combination of natural language processing, data visualization and predictive analytics capabilities. The company has 53 employees, which includes data scientists, computational linguistics, and technology experts. Revenue for FY19 stood at INR 71 million.

  • 12:01 IST:



    Larsen & Toubro Infotech Ltd has signed a definitive agreement to acquire Lymbyc Solutions Private Limited, headquartered in Bangalore along with additional offices in Chennai and Texas, US, for an enterprise value of Rs 38 cr in an all-cash, debt-free basis, which will be paid as a combination of upfront and three year earn-out payments. Consideration value is subject to working capital adjustments. After the acquisition, LTI will acquire 100% of Equity shares of Lymbyc

    Incorporated in 2012 in Chennai,Lymbyc Solutions Private Limited ('Lymbyc'), is a specialist Al, machine learning, and advanced analytics company with their proprietary product 'Leni'.

    The platform has a combination of natural language processing, data visualization and predictive analytics capabilities. The company has 53 employees, which includes data scientists, computational linguistics, and technology experts. Revenue for FY19 stood at INR 71 million.

  • Jul 17, 2019 11:58 (IST)

    L&T Construction-led joint venture wins order in Gujarat



    The Water a Effluent Treatment Business of L&T Construction and Tecton Engineering a Construction LLC, UAE JV have secured a prestigious contract  in the range of Rs 1,000-2,500 cr for a 100 MLD Desalination plant from Gujarat Industrial Development Corporation, Gujarat, India. LaT Construction will be the lead in this project.

  • 11:58 IST:

    The Water a Effluent Treatment Business of L&T Construction and Tecton Engineering a Construction LLC, UAE JV have secured a prestigious contract  in the range of Rs 1,000-2,500 cr for a 100 MLD Desalination plant from Gujarat Industrial Development Corporation, Gujarat, India. LaT Construction will be the lead in this project.

  • Jul 17, 2019 11:23 (IST)

    MCX surges after robust Q1 numbers



    MCX Q1 earnings report: Consolidated net profit jumps to Rs 43.7 crore versus Rs 7.3 crore (There was an exceptional loss of Rs 23.8 crore in Q1FY19), revenue rises 9.1 percent to Rs 79.4 crore versus Rs 72.8 crore YoY.

    The stock of MCX exchange has gained after 2 days of consecutive fall. MCX stock has risen 8.35% to touch an intraday high of Rs 881.45.

  • 11:23 IST:

    MCX Q1 earnings report: Consolidated net profit jumps to Rs 43.7 crore versus Rs 7.3 crore (There was an exceptional loss of Rs 23.8 crore in Q1FY19), revenue rises 9.1 percent to Rs 79.4 crore versus Rs 72.8 crore YoY.

    The stock of MCX exchange has gained after 2 days of consecutive fall. MCX stock has risen 8.35% to touch an intraday high of Rs 881.45.

  • Jul 17, 2019 10:30 (IST)

    Market Update

    Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty are trading higher led by gains in Bank and Media stocks. BSE S&P Sensex currently trades at 39,235, with 110 points of advance, and NSE Nifty50 trades 30 points up at 11,693.

  • 10:30 IST: Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty are trading higher led by gains in Bank and Media stocks. BSE S&P Sensex currently trades at 39,235, with 110 points of advance, and NSE Nifty50 trades 30 points up at 11,693.

  • Jul 17, 2019 10:20 (IST)

    YES Bank rises ahead of earnings report




    YES Bank stock has opened with gap up of 4% and rose 4.3 % to day's high of Rs 108.40 against the previous close of Rs 103.90.

  • 10:20 IST:


    YES Bank stock has opened with gap up of 4% and rose 4.3 % to day's high of Rs 108.40 against the previous close of Rs 103.90.

  • Jul 17, 2019 09:58 (IST)

    Suzlon defaults on Rs 1,182 crore bond payment

    The Pune-based wind major, which had a consolidated net term debt of Rs 7,761 crore and a working capital debt of Rs 3,380 crore by the end of 2018-19, is in talks with Canadian investment major Brookfield to a sell a majority stake.
     "The company is working on a holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt (including the bonds)," said Suzlon. The stock has fallen 8.7 to day's low of Rs 4.26 against the last close of Rs 4.76. The stock has lost 8.82% in the last 4 days.

  • 09:58 IST:
    The Pune-based wind major, which had a consolidated net term debt of Rs 7,761 crore and a working capital debt of Rs 3,380 crore by the end of 2018-19, is in talks with Canadian investment major Brookfield to a sell a majority stake.
     "The company is working on a holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt (including the bonds)," said Suzlon. The stock has fallen 8.7 to day's low of Rs 4.26 against the last close of Rs 4.76. The stock has lost 8.82% in the last 4 days.

  • Jul 17, 2019 09:56 (IST)

    JLR gets UK loan guarantee for e-vehicles

    Tata Motors owned Jaguar Land Rover (JLR)said it will receive a 500 million pound guarantee from the UK government to underwrite a planned 625 million pound loan facility from commercial banks to develop the next generation electric vehicles and future mobility solutions.

  • 09:56 IST:
    Tata Motors owned Jaguar Land Rover (JLR)said it will receive a 500 million pound guarantee from the UK government to underwrite a planned 625 million pound loan facility from commercial banks to develop the next generation electric vehicles and future mobility solutions.

  • Jul 17, 2019 09:41 (IST)

    Sensex and Nifty

    Sensex Today:  Currently 14 out of 20 stocks on S&P Sensex and 22 out of 50 scripts on Nifty50 are trading in the bulish territory

  • 09:41 IST: Sensex Today:  Currently 14 out of 20 stocks on S&P Sensex and 22 out of 50 scripts on Nifty50 are trading in the bulish territory

  • Jul 17, 2019 09:38 (IST)

    Results Today

    YES Bank, Wipro, Tata Elexsi, Mindtree, Dhanlaxmi Bank, Birla Money, Menon Bearings, Duncan Engineering, DFM Foods and Gaurav Mercantiles are among the listed companies subjected to post their quarterly earnings today, as per data available with the exchanges.

  • 09:38 IST: YES Bank, Wipro, Tata Elexsi, Mindtree, Dhanlaxmi Bank, Birla Money, Menon Bearings, Duncan Engineering, DFM Foods and Gaurav Mercantiles are among the listed companies subjected to post their quarterly earnings today, as per data available with the exchanges.

  • Jul 17, 2019 09:30 (IST)

    Oil Prices

    Brent Crude, the global oil benchmark, fell 4% to $64/bbl on reduced geo-political tensions between US-Iran. 

  • 09:30 IST: Brent Crude, the global oil benchmark, fell 4% to $64/bbl on reduced geo-political tensions between US-Iran. 

  • Jul 17, 2019 09:30 (IST)

    Global Market Update


    Elsewhere in Asia, equity markets like Hong Kong, Nikkei declined over 0.50% each. On the Singapore Exchange, SGX Nifty fell 11 points or 0.09%.

    On the Wall-Street, US markets fell 0.50% on concerns of US-China trade war.




  • 09:30 IST:
    Elsewhere in Asia, equity markets like Hong Kong, Nikkei declined over 0.50% each. On the Singapore Exchange, SGX Nifty fell 11 points or 0.09%.

    On the Wall-Street, US markets fell 0.50% on concerns of US-China trade war.




  • Jul 17, 2019 09:28 (IST)

    Rupee opens flat today



    Rupee opens unchanged vs yesterday's close of 68.71 against the dollar.

  • 09:28 IST:

    Rupee opens unchanged vs yesterday's close of 68.71 against the dollar.

  • Jul 17, 2019 09:27 (IST)

    FII and DII

    The net investment of equity and debt reported by Foreign portfolio investment (FPIs) remained bearish with selling Rs 444.99 crore from Indian equities while Domestic institutional investors (DIIs) have bought Rs 637.71 crore Monday.

  • 09:27 IST: The net investment of equity and debt reported by Foreign portfolio investment (FPIs) remained bearish with selling Rs 444.99 crore from Indian equities while Domestic institutional investors (DIIs) have bought Rs 637.71 crore Monday.

  • Jul 17, 2019 09:26 (IST)

    Market Update


    Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty opened higher, led by gains in Bank and Media stocks,however, pared gains soon. BSE S&P Sensex currently trades at 39,125, with 5 points of decline, and NSE Nifty50 trades 10 points down at 11,652.

    Yesterday, Sensex ended 234 points higher at 39,131 and Nifty50 closed at 11,661, registering a gain of 72 points.

  • 09:26 IST:

    Sensex Today: Domestic equity benchmarks BSE Sensex and NSE Nifty opened higher, led by gains in Bank and Media stocks,however, pared gains soon. BSE S&P Sensex currently trades at 39,125, with 5 points of decline, and NSE Nifty50 trades 10 points down at 11,652.

    Yesterday, Sensex ended 234 points higher at 39,131 and Nifty50 closed at 11,661, registering a gain of 72 points.

  • Jul 17, 2019 09:25 (IST)

    Opening Bell

    Sensex Today: Domestic equity benchmarks BSE Sensex started at 39,171.10 by the Opening session on Wednesday,  against the last close of 39,131.04. Similarly the broader Nifty50 traded at 11,670.75 against yesterday's close of  11,659.

  • 09:25 IST: Sensex Today: Domestic equity benchmarks BSE Sensex started at 39,171.10 by the Opening session on Wednesday,  against the last close of 39,131.04. Similarly the broader Nifty50 traded at 11,670.75 against yesterday's close of  11,659.