Sensex adds 123 pts, Nifty tad below 16,300; Bharti Airtel jumps 4%, ITC 3%

The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent

9:26 AM

Voda Idea plummets 15% as Kumar Mangalam Birla steps down at chairman

>> Stock hits fresh 52-week low

>> Kumar Mangalam Birla has stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company. Himanshu Kapania, a telecom industry veteran and a nominee of Aditya Birla Group on the board, will take over the chairman’s post.

 

>> In another development, Vodafone Plc, which owns 45 per cent stake in Vodafone Idea (Vi), is ready to offer its stake for free to Indian banks/financial institutions or to the government-owned Bharat Sanchar Nigam (BSNL), provided they take over the wireless telephony company, banking sources told Business Standard.

9:23 AM

Sector Watch :: Defensive stocks gain as indices at record highs

9:22 AM

Broader markets lag benchmarks

9:20 AM

Sensex Heatmap :: Top gainers & losers at opening tick

9:19 AM

FIRST TRADE :: Nifty above 16,250

9:18 AM

OPENING BELL :: Sensex adds 45 points

9:14 AM

NEWS ALERT :: 1.9 crore SBI Life shares changed hands in a pre-market bunched trade

(Source: TV Reports)

9:08 AM

COMMODITY CHECK

9:06 AM

Sensex Heatmap | Top gainers & losers in pre-open trade

9:06 AM

Pre-open Session :: Nifty nears 16,300

9:05 AM

Pre-open Session :: Sensex gains over 150 points

9:01 AM

NEWS ALERT :: JSPL’s Sales increased to 6.7 lakh tonnes, up 5% YoY

>>  Steel sales were up 5% Y-o-Y and surged 21% M-o-M to 6.7 lakh tonnes as compared to 6.4 lakh tonnes during the same month in the previous year.

>> JSPL reports monthly steel production of 6.5 lakh tonnes, up 8% Y-o-Y as compared to 6.03 lakh tonnes during the same month in the previous year.

>> Exports accounted for more than 40% of the total sales volumes due to high spot demand from international markets. 

8:55 AM

BS BREAKING :: Voda Plc offers Vodafone Idea stake to lenders and BSNL for free

Vodafone Plc, which owns 45 per cent stake in Vodafone Idea (Vi), is ready to offer its stake for free to Indian banks/financial institutions or to the government-owned Bharat Sanchar Nigam (BSNL), provided they take over the wireless telephony company, said banking sources.

 

Lenders said if BSNL takes over the company, government dues to be paid by the merged BSNL-Vi entity will be a book entry. READ MORE

8:52 AM

Top factors that could guide markets today

Apart from global cues, the June quarter earnings season, FII flows and the RBI policy decision slated for Friday could also sway market sentiments.

 

Primary market activity is also likely to remain heightened as all the issues will open for subscription on Day 2. Exxaro Tiles IPO was subscribed 4.63 times on Day 1, Windlas Biotech 3.15 times, Devyani International 2.69 times and Krsnaa Diagnostics 1.16 times. LISTEN TO THE PODCAST HERE

8:48 AM

Top stocks to watch today

Results Today: Over 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance and Gujarat Gas are slated to post their results.

 

Vodafone Idea: Kumar Mangalam Birla has stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company. Himanshu Kapania, a telecom industry veteran and a nominee of Aditya Birla Group on the board, will take over the chairman’s post. READ MORE