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Sensex, Nifty a tad higher as demand slowdown concerns kept gains in check
Posted on 14th October 2019
Mumbai: After a volatile opening, Indian markets on Monday rose nearly 0.5% led by gains in energy, auto and banking stocks. Sentiments were also improved after signs of progress in US-China trade negotiations.

At 12.12 pm, the benchmark Sensex Index rose 0.5% to 38306.29 points while Nifty advanced 0.5% to 11361.60 points.

President Donald Trump said the two sides agreed to the outlines of a deal that could be signed as early as next month. US wont increase tariffs on China as scheduled this week as part of a "phase one" trade accord.

"The earnings announcements will dictate the trend on the stock-specific front. We advise keeping cautious approach and preferring hedged trades", said Ajit Mishra Vice President, Research, Religare Broking Ltd.

Among gainers, Tata Motors surged 5.5% followed by Oil & Natural Gas and Yes Bank which rose 5% and 3% respectively. Other gainers included, Vedanta Ltd and Tata Steel which rose 3% each. Indusind Bank and Bajaj Auto rose 2.4% and 2% respectively.

Among laggard, Infosys was the biggest loser, down 3.3% on profit booking. On Friday, Infosys raised the lower end of its fiscal year 2020 revenue guidance, revising it to 9-10% from 8.5-10% earlier, on the back of strong momentum in large deals and market share gains.

Indian Railway Catering and Tourism Corp Ltd surged nearly 125% from its issue price. The Rs645 crore initial public offering (IPO) was subscribed 112 times at a price band of ₹315- ₹320 per share. The issue was open for subscription between 30 September and 4 October.

Avenue Supermart fell 1% after the company reported revenue growth a tad lower than expected.

Adani Gas surged 13% after French oil and gas giant Total S A acquired a 37.4% stake in Adani Gas Ltd, the listed gas unit of the diversified Adani Group, for Rs5,662 crore

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
AIMPLB to decide on filing Ayodhya verdict review petition in SC today
Posted on 16th November 2019
The All India Muslim Personal Law Board (AIMPLB) is likely to take a call on whether to file a review petition in the Supreme Court's final verdict in the Ayodhya land dispute case.

A meeting of AIMPLB is expected to take place today in Lucknow to decide on call to be taken by the board in the Ram Janmabhoomi-Babri Masjid case verdict by the Supreme Court.


Maharashtra: BJP afraid MLAs may defect, says NCP’s Nawab Malik
Posted on 16th November 2019
The Maharashtra BJP is bedevilled by the trepidation that politicians who joined the party ahead of the October 21 Assembly polls will defect and, hence, its leaders are claiming they will form government in the state, the NCP said on Saturday. NCP chief spokesperson Nawab Malik made the remarks a day after Maharashtra BJP chief Chandrakant Patil said his party will soon form the government and claimed it can count on the support of 119 MLAs, including Independents, in the 288-member Assembly.

SAT pulls up Sebi for 'shabby' handling of complaints from investor
Posted on 16th November 2019
The Securities and Appellate Tribunal (SAT) has hauled up the Securities and Exchange Board of India (Sebi) for giving computer-generated response to investor complaints filed on its online platform Scores and for disposing of the matter without settling the case.

“We find the approach adopted by Sebi to be a strange one. Such computer-generated disposal of a serious complaint speaks volumes on the conduct in treating the minority shareholders in this shabby manner,” the tribunal said while delivering a judgment on a matter related to an investor complaint.


US to extend licence for its firms to continue business with Huawei: Report
Posted on 16th November 2019
The Trump administration is set to issue a two-week extension of a licence allowing U.S. companies to continue doing business with China's Huawei Technologies Co Ltd, two sources familiar with the deliberations said.

The extension of around two weeks is far shorter than the prior 90-day extension and a longer extension is in the works but has not yet been finalised due to regulatory hurdles, said one source who was briefed on the matter.


SC sets aside NCLAT order, paves way for Arcelor to acquire Essar Steel
Posted on 16th November 2019
The Supreme Court on Friday brought down the curtains on an epic battle for debt-laden Essar Steel, paving the entry of the world’s largest steel maker, ArcelorMittal, into the second-biggest steel market, India.

In a ruling that would have a far-reaching impact on cases under the Insolvency and Bankruptcy Code (IBC), the apex court has set aside the National Company Law Appellate Tribunal (NCLAT) order that put a different class of creditors — financial vis-a-vis operational creditors as also secured and unsecured financial creditors — on a par.


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