MARKET WRAP: Sensex surges 292 pts, Nifty tops 11,850; Adani Power up 17%

n the broader market, S&P BSE Mid-Cap ended 81 points, or 0.54 per cent higher at 14,889 levels while the S&P BSE Small-Cap gained 43 points, or 0.30 per cent, to settle at 14,283 levels.

10:54 AM

Reliance Infra slips 10% on rating downgrade by Brickwork

Shares of Reliance Infrastructure (RInfa) slipped 10 per cent to Rs 50 in early morning trade on the BSE on Monday after rating agency Brickwork downgraded the company’s bank loan facilities of Rs 1,151 crore to 'BWR D' from 'BWR C'. “The revision in the rating assigned to the bank loan facilities of Rs 1,151 crore of RInfra is primarily due to the deterioration in the credit risk profile and weakening of the financial/debt servicing profile of the company owing to substantial losses reported by the company during FY19. ,” Brickwork said in rating rational. READ MORE

10:50 AM

NEWS ALERT | Delhi High Court dismisses GVK’s plea seeking to bar Bidvest from selling stake in Mumbai Airport

10:49 AM

NEWS ALERT | Punjab National Bank cuts lending rate by 5 bps

10:45 AM

NEWS ALERT | Central Bank of India cuts lending rate by 5 bps across tenors effective today

10:40 AM

NEWS ALERT | US FDA accepts to review SPARC's new drug application for taclantis: CNBC TV18

10:37 AM

NEWS ALERT | Alembic Pharma gets US FDA nod for Clonazepam Orally

10:35 AM

June Auto Sales | Eicher Motors

- Total domestic sales at 4,136 units, down 24.7% YoY

- Total exports at 366 units, down 10.7% YoY

- Total buses/trucks sales at 4,502 units, down 28.7% YoY

10:34 AM

NEWS ALERT | India June Nikkei Manufacturing PMI at 52.1 vs 52.7 MoM: CNBC TV18

10:26 AM

Bank of Baroda down 1% post reports it has bought DHFL loans worth Rs 3k cr

Shares of Bank of Baroda (BoB) slipped 2 per cent to Rs 120 apiece in the early morning trade on Monday after reports surfaced the state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans worth Rs 3,000 crore against its exposure to the non-bank lender.

 

At 09:50 am, the stock was trading nearly a per cent lower at Rs 121 apiece on the BSE while shares of DHFL were ruling at Rs 71, down one per cent. On the other hand, the benchmark S&P BSE Sensex was trading 245 points or 0.62 per cent higher at 39,639 levels. READ MORE

10:19 AM

Eveready Industries locked in 5% lower circuit after PwC resigns as auditor

Eveready Industries shares were locked in the 5 per cent lower circuit at Rs 76 on the BSE on Monday after Price Waterhouse & Co Chartered Accountants LLP (PwC) quit as company's auditors on Friday due to their "inability" to obtain sufficient audit evidence of inter-company deposits and its recovery. The retail battery and flashlight manufacturer has now appointed Singhi & Co Chartered Accountants as its auditor with effect from June 29, 2019. READ MORE

10:14 AM

NEWS ALERT| Indiabulls Housing Fin makes interest payment against NCDs due on June 30

10:13 AM

NEWS ALERT | Zee Ent promoter Cyquator Media sells 46.2 lakh shares from June 18-27

10:09 AM

SBI, Syndicate Bank: Should you buy PSU banks ahead of Union Budget 2019?

The past one year has been a consolidation phase for Nifty PSU Bank index in the range of 2,600. - 3,500 levels. Technical charts reveal formation of an 'Inverse Head and Shoulder' pattern that can result in a bigger upside only after a successful breakout. That said, the current trend seems positive and a rally towards 3,400 – 3,500 is in progress, as per the daily chart. READ MORE

9:59 AM

MARKET CHECK

9:56 AM

Tatas are keen to buy Jet's grounded fleet, bilateral flying rights

The Tata Group has two joint ventures in the aviation space. One is with budget airline AirAsia and the other is its stake in full-service carrier Vistara, a joint venture with Singapore Airlines. Both Vistara and AirAsia India, along with their partners, are quietly putting together an aggressive plan to become a formidable force in the skies. AirAsia India plans to double their fleet from 21 to 40 aircraft by April next year and also plans to start international operations to Sri Lanka, Thailand and Malaysia by September 2019. READ MORE