MARKET WRAP: Indices end higher ahead of Budget 2019, Nifty below 11,950

All that happened in markets today.

3:50 PM

Sectoral gainers and losers on NSE

3:50 PM

Top gainers and losers on S&P BSE Sensex

3:37 PM

CLOSING BELL

The S&P BSE Sensex gained 69 points or 0.17 per cent to settle at 39,908 while the NSE's Nifty50 index ended at 11,947, up 30 points or 0.25 per cent. 

2:56 PM

NEWS ALERT | Lenders to challenge NCLAT judgment in Essar Steel Case

2:40 PM

Essar Steel: NCLAT approves ArcelorMittal's bid with modifications

The National Company Law Appellate Tribunal (NCLAT) on Thursday approved Lakshmi Mittal-led ArcelorMittal’s plan for Essar Steel India Limited. The appellate tribunal had on May 21 heard the contentions of all the parties and reserved its judgment in the case. The distribution of amount for all operational and financial creditors will be reflected in ArcelorMittal's resolution plan. The Committee of Creditors (CoC) will have no role in this distribution. READ MORE

2:26 PM

Sudden fall in YES Bank, down 4%

2:15 PM

Essar Steel: NCLAT approves Lakshmi Mittal-led ArcelorMittal's bid

The National Company Law Appellate Tribunal (NCLAT) on Thursday approved Lakshmi Mittal-led ArcelorMittal’s plan for Essar Steel India Limited. The appellate tribunal had on May 21 heard the contentions of all the parties and reserved its judgment in the case. The distribution of amount for all operational and financial creditors will be reflected in ArcelorMittal's resolution plan. The Committee of Creditors (CoC) will have no role in this distribution.

 

ArcelorMittal had told NCLAT that it would pay Rs 42,000 crore, including a minimum of guarantee of Rs 2,500 crore as working capital, for acquiring debt-laden Essar Steel under the insolvency process. READ MORE

2:10 PM

Trade war: China says existing US tariffs should be removed for a deal

Existing US tariffs will have to be removed if there is to be a trade deal between Beijing and Washington, China's commerce ministry said on Thursday. The leaders of the two countries agreed last weekend to relaunch trade talks that had stalled in May after US officials accused China of pulling back from commitments made in the text of a pact negotiators had said was nearly finished. READ MORE

2:01 PM

June Auto Sales | Force Motors

-- A decline of more than 17% in June sales,

-- Sale of  2,210 units vs 2,669 units in June last year

1:57 PM

Adani Ent rally 4% after cabinet nods Lucknow, Ahmedabad airport leasing

Adani Enterprises shares gained 4 per cent to quote at Rs 162 on the BSE during the morning trade on Thursday after the Union Cabinet approved Ministry of Civil Aviation’s proposal to privatize three out of six state airports. READ MORE

1:50 PM

NEWS ALERT | REC to consider a proposal for raising an amount of Rs 75,000 crore

-- A meeting of board of directors of REC scheduled to be held on July 10, 2019, to consider a proposal for raising of funds through issue of unsecured/secured non-convertible bonds/debentures through private placement, up to an amount of Rs 75,000 crore, in one or more tranches

1:45 PM

Economic Survey Highlights: Bullish on growth despite tepid numbers

Economic Survey for 2018-19 was tabled in the Lok Sabha on Thursday, a day ahead of the presentation of the Union Budget for 2019-20. The Survey, which is the government’s report card for the year gone by and presents the health of the economy, comes at a time when the economy is slowing and consumption has staggered.

 

As per data released a few days ago, India's GDP growth came in at 5.8 per cent for the January – March quarter, sharply down from 6.6 per cent in the previous quarter, well below forecasts and the slowest in over four years. READ MORE

1:45 PM

Quess Corp nears record low; stock tanks 11% on heavy volumes

Shares of Quess Corp were under pressure for the fourth straight trading day and tanked 11 per cent to Rs 462, also its 52-week low on the BSE on Thursday, on the back of heavy volumes. The stock was trading close to its all-time low price of Rs 452 touched on July 14, 2016. In the first four trading days of July, Quess Corp's market price has plunged 20 per cent, against 1.2 per cent rise in the benchmark S&P BSE Sensex. READ MORE

1:30 PM

Chief Economic Advisor KV Subramanian on Economic Survey

1:20 PM

Stocks that hit 52-week high on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
A B B	1650.00	1653.55	42.85	2.67
ADANI POWER	66.05	66.85	0.25	0.38
BAJAJ FIN.	3719.05	3750.00	5.10	0.14
OBEROI REALTY	625.00	641.70	16.80	2.76
REC LTD	167.40	169.55	0.05	0.03