MARKET WRAP: Sensex slips 229 pts ahead of CPI inflation nos; banks tumble

All that happened in markets today.

9:23 AM

Coal India gains around 2% post Q2 nos

9:22 AM

Britannia jumps 5% post Q2 results

9:21 AM

Sectoral gainers and losers on the NSE

9:20 AM

Market reverses losses; top gainers and losers on the S&P BSE Sensex

9:19 AM

OPENING DEALS

At 09:18 am, the S&P BSE Sensex was trading 26 points or 0.07 per cent lower at 40,318.80 while NSE's Nifty50 index was trading at 11,899, down 15 points or 0.12 per cent.

9:14 AM

NEWS ALERT | Promoters of Avenue Supermarts looking to sale stake: Report

-- Initiated preliminary discussions with merchant bankers for a stake sale by the promoters in Feb 2020

-- This will be a big share sale (for around 5.21%) in excess of Rs 6000 crores as per the current m-cap, the report quoted unnamed sources

Alert: The promoters, led by veteran stock market investor Radhakishen Damani, hold 80.21% stake in the company.

        : SEBI's minimum public shareholding (MPS) rule for listed companies stipulates that promoters cannot own more than 75% and that public shareholders should own a minimum 25%

9:06 AM

Top gainers and losers on S&P BSE Sensex during Pre-open

9:05 AM

Market at Pre-open

9:04 AM

Market at Pre-open

9:02 AM

Rupee Opening Alert

-- Rupee opens weaker at 71.75/$ vs Monday's close of Rs 71.46 per US dollar

-- Re opens lowest since Sept 17.

8:58 AM

Bharti Airtel bids for RCom spectrum, Jio seeks deadline extension

It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid. They include US-based Varde Partners, a private equity fund that has a joint venture in India with the Aditya Birla group. But the joint venture has not made the bid, sources say. An e-mail query to Varde Partners did not elicit any response. READ MORE

8:54 AM

Economists estimate India's July-September GDP growth at 4.2-4.7%

Looking forward, though the economists expect the Reserve Bank of India (RBI) to cut rates up to 50 basis points in the two remaining policy meetings of the fiscal year, they said the effectiveness of rate cuts has diminished now.

 

Saying that the domestic slowdown is syncronised with the global slump, the State Bank of India has lowered its estimate for growth in gross domestic product (GDP) at 4.2 per cent. For the full fiscal year, it has given the lowest estimate so far, at 5 per cent. READ REPORT HERE

8:49 AM

Stocks to watch: Vodafone Idea, CIL, BHEL, Infosys, Lupin, Tata Motors

Here's a look at the top stocks that may remain in focus today -

 

Vodafone Idea: Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said. READ MORE

 

Lupin: Drug major Lupin on Monday said its board has approved selling its entire stake in Japanese subsidiary Kyowa Pharmaceutical Industry to Japan-based private equity fund Unison Capital Partners for an enterprise value of JPY 57,361 million (Rs 3,702.4 crore). The Mumbai-based company has entered into a definitive agreement for sale of its entire stake (99.82 per cent) in Kyowa, Lupin said in a statement. READ MORE

8:45 AM

AGR verdict: Vodafone's future in India uncertain amid setback, says CEO

Chief Executive Nick Read said India, where Vodafone formed a joint venture with Idea Cellular in 2018, had been "a very challenging situation for a long time", but it remained a sizable market where Vodafone had a 30% share.

Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges, after a court judgment over license fees resulted in a 1.9 billion euro group loss in its first half. READ REPORT HERE

8:40 AM

Ultratech to Asian Paints: 5 firms that gain from Rs 25k-cr realty package

However, once the initiative starts rolling, there would beneficiaries even beyond the realty sector, which include companies producing cement, sanitary-ware, paints, tiles and pipes among other products.  READ MORE