Sensex Today: Benchmark indices Sensex and Nifty registered major losses by the closing bell in today trade. S&P Sensex closed 289 points or 0.77% lower at 37,397 on Tuesday while broader index Nifty50 ended the day at 11,085, registering a decline of 103.80 points or 0.93%.
VIP Industries Ltd posts June quarterly profit for the period at Rs 35.08 crore against the last year's Rs 63.35 cr recorded in the same quarter, on a consolidated basis.
The company filed to the exchanges quoting,"Default in Payment of Interest due on Non-Convertible Debentures (NCDs)".
The company clarified that interest due on July 30 worth Rs 9.20 cr for a Rs 200 cr principal loan was unpaid by IF&LS Transportation Network. Moreover, two other interest were also due worth Rs 74.95 lakh and Rs 2.75 cr for the loan amounting Rs 32,50 cr and Rs 118 cr.
Karnataka Bank clarifies on exposure to Coffee Day Enterprises Ltd.
"However, in/s. Coffee Day Global Ltd., one of the unlisted group companies (erstwhile Amalgamated Bean Coffee Ltd., a customer of the Bank since 1996) is enjoying credit facilities with the present outstanding of Rs.152.48 crore constituting 0.29% of total advances of the Bank. The above facilities are fully secured by collaterals of properties besides primary securities. AIl the loan accounts are regular as on date," the bank stated in a regulatoury filing.
Similarly, housing finance major HDFC has also said that its exposure to Coffee Day Enterprises is 'nil' as of date and as per media reports, its entire outstanding exposure was repaid in January 2019.
The listed companies that are due to post their June qaurterly earnings today include Axis Bank, Hero MotoCorp, Tech Mahindra, Bank of India, PNB Housing Finance, Piramal Enterprises, Dish TV, New Delhi Television, GRP, Repro India, Sumeet Industries, TCI Express, Chemfab Alkalis, TCI Developers, Andhra Cements, Kalpataru Power Transmission, VIP Industries, Aegis Logistics, Gulf Oil Lubricants, Vinati Organics, Shoppers Stop, Solar Industries, Prism Johnson, United Bank of India, Vaibhav Global, Cholamandalam Investment, NOCIL, PTL Enterprises, Spice Mobility, Balkrishna Paper Mills, Super Spinning Mills, R Systems International, Gujarat Gas, Mangalore Refinery and Petrochemicals, Swaraj Engines, NMDC, RPG Life Sciences, Granules India, Welspun India, HeidelbergCement India, Fertilizers and Chemicals Travancore, Orient Electric, EIH Associated Hotels.
Shares of Coffee Day Enterprises shed 19.99% in the early trade on July 30 after Cafe Coffee Day founder VG Siddhartha was reported missing since the night of July 29. CCD stock opened at a loss of 19.99% or 38.50 points to Rs 154.05 on BSE, also the stock's all time and new 52 week low. There are only sellers in the stock and no buyers standing.
India's market regulator on Monday proposed tighter disclosure rules for shareholder advisory firms known as proxy advisors to avoid conflicts of interest.
Although limited in their presence in India, proxy advisors, which provide research to institutional investors, are a fixture in western markets.
The Securities and Exchange Board of India (SEBI) has flagged concerns that they may be subject to conflicts if they are providing companies with consultancy services at the same time as advising their shareholders.
Calling for 'Chinese Walls', or communications barriers, between these firms and their consultancy businesses, a SEBI-appointed working group said enhanced disclosures were necessary, including on relationships with financial institutions.
India's market regulator on Monday proposed tighter disclosure rules for shareholder advisory firms known as proxy advisors to avoid conflicts of interest.
Although limited in their presence in India, proxy advisors, which provide research to institutional investors, are a fixture in western markets.
The Securities and Exchange Board of India (SEBI) has flagged concerns that they may be subject to conflicts if they are providing companies with consultancy services at the same time as advising their shareholders.
Calling for 'Chinese Walls', or communications barriers, between these firms and their consultancy businesses, a SEBI-appointed working group said enhanced disclosures were necessary, including on relationships with financial institutions.
Nikkei Index gained over half percent ahead of BoJ meeting today. Hong Kong and China Index are trading flat. SGX Nifty gained 18 pts or 0.16%.
On the Wallstreet, US Dow Futures is up 38 pts or 0.14%. US stocks closed mixed as attention turns to Fed and trade talks.
Oil rose the most in almost three weeks to $64/bbl on speculation that demand will get a bump from a potential U.S. Federal Reserve rate cut aimed at spreading economic benefits more broadly.
Rupee opens at 68.76 against the dollar against its last close of 68.73 per dollar.
U.S. crude futures were up 0.5% at $57.16 per barrel and Brent crude added 0.4% to $63.99.
U.S. crude futures were up 0.5% at $57.16 per barrel and Brent crude added 0.4% to $63.99.
Asian stocks gained on Tuesday as equity investors prepared for an expected U.S. interest rate cut this week while the pound retreated to a 28-month low as heightened concerns about a no-deal Brexit gripped currency ma rkets.
(Reuters)
S&P Sensex started today's trade 49 points up at 37,735 and broader index Nifty50 trades at 11,213 level, registering a gain of 24 points.
Sensex rose 49 points in pre-open trade
Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, on Monday reported 12.91 per cent year-on-year growth in its consolidated net profit at Rs 125.40 crore for the first quarter ended June 30, 2019.
Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, on Monday reported 12.91 per cent year-on-year growth in its consolidated net profit at Rs 125.40 crore for the first quarter ended June 30, 2019.
Sensex Today: Domestic equity benchmarks NSE Nifty & BSE Sensex on Monday closed on a bearish note, backed by high selling interest in Auto stocks, amidst weak Asian equities. Sensex ended today's trade 196 points down at 37,686 and broader index Nifty50 trades at 11,189 level, registering a loss of 95 points.
Sensex Today: Sensex ends 196 points lower, Nifty at 11,189; Vodafone Idea closes 26% down