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Markets consolidate; Sensex holds 27,100
Posted on 23rd September 2014
Benchmark share indices continued to trade weak as selling by foreign funds continued to weigh on market sentiment. Further, data suggests that Nifty roll-overs to the October series stood at 40% so far.

At 11.45 Hrs, Sensex was trading at 27,139.04 with a 67.77 points loss while NIfty shows a decline of 21.50 points at 8,124.80.

Meanwhile, in the broader market, the BSE Mid Cap and Small Cap are trading flat thus performing better than the Sensex.

Market breadth too is in red with 1372 declines against 1127 advances.

Rupee was trading at 60.895 against US Dollar at 11.00 Hrs. Month-end dollar demand and weakness in Asian currencies has kept Dollar boosted.

With HSBC flash reading on manufacturing (PMI) for September rising to 50.5, Chinese factory data allayed the apprehensions of a contraction in manufacturing activity and became the basis of a mixed trend in the Asian markets.

Japan's Nikkei, decelerated by profit taking, was down 115.27 points or 0.71 percent at 16,205.90 whereas Singapore's Straits Times rose 7.21 points or 0.22 percent to 3,303.78.

China's Shanghai Composite was up 5.99 points or 0.26 percent at 2,295.85 while Hong Kong's Hang Seng declined 2.50 points to 23,952.99.

However, a heavy decline in employment rates in China will become a new source of worry given the Chinese government strong commitment to keep employment unaffected even if it hurts economic growth.

Sectors and Stocks

Tracking weakness in Rupee IT stocks are trading firm with the sector showing a gain of 0.92%. Among major IT players, HCL is the biggest gainer with 1.79% gain followed by Wipro with 0.98% and TCS with 0.64% gain.

Heightened investor interest in power sector, showing gain of 0.30%, came on the back of 22% higher power generation than last year in the country during April-June.

RP Sanjiv Goenka group's flagship power generation and distribution company, CESC is the biggest gainer trading at 796.20 with a 3.93% gain. The company has disclosed plans to raise about 913 crores through private placement. Among major players, NTPC, BHEL and Powergrid are posting around 0.86% gains.

The increased sales for the coming festive season has kept consumer durables segment revved up with a gain of 0.16%

Bajaj auto, Maruti Suzuki and Hindustan Lever are other big gainers.

Metal stocks cotinue to remain under pressure despite encouraging data from China. Hindalco is one of the biggest losers posting a loss of 2.34% followed by Tata Steel with a loss of 0.96% and Sesa Sterlite showing marginal decline of 0.18%.

Capital goods, Oil and Gas and Reality are other sectors showing a decline.

Shares of IFCI were up over 3% at Rs 35.50 after it said it would sell part of its stake in Tourism Finance Corporation of India Ltd.

Related Companies: Bombay Stock Exchange - BSE   Bajaj Auto Limited   BHEL   Wipro Technologies (Wipro Ltd)

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Cipla shareholders approve proposal to raise up to Rs 3,000 crore
Posted on 17th August 2019
Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Two RCom promoters pledge 11.5% more stake in Axis Trustee services
Posted on 17th August 2019
Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings.

Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.

M&M sets up first car assembly plant in Sri Lanka with Ideal Motors
Posted on 17th August 2019
Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.

Sebi imposes restrictions on mutual fund investments in short-term bank deposits
Posted on 17th August 2019
NEW DELHI: Mutual fund houses should ensure that banks -- where a scheme has parked funds in the lender's short-term deposits -- do not invest in that particular scheme, according to Sebi.

The markets watchdog has issued a clarification regarding 'parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deployment'.

Restrictions lifted, landline services partially back in Valley
Posted on 17th August 2019
Srinagar: Restrictions on the movement of people in the Kashmir Valley were eased on Saturday, with landline services restored in some areas of the city, even as stringent security arrangements continued to be in place, officials said.

Seventeen out of a little over 100 telephone exchanges were made operational. These exchanges are mainly in Civil Lines, Cantonment and the airport area of Srinagar district.

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