MARKET WRAP: Nifty ends below 11,100, Sensex sheds 289 pts; CCD slips 20%

The Sensex and Nifty50 touched an intra-day low of 37,359 and 11,073 respectively.

12:03 PM

Matter is 'utterly fishy', says DK Shivakumar

12:02 PM

VG Siddhartha case :: CCD co-founder missing

11:54 AM

Index Contributors at this hour

11:42 AM

NEWS ALERT | Tax authorities are dealing with cases in draconian manner: Shekhar Gupta of The Print on VG Siddhartha

-- Criminalising financial issues is not a good sign

-- There is massive crisis in Indian Business Sector

Alert: CCD co-founder VG Siddhartha went missing last night. 

         In a letter to the Coffee Day Enterprises, dated July 27, he alleged harassment by the previous DG, Income Tax in the form of attaching of shares on two separate occasions to block the Mindtree deal and then taking possession of Cofee Day shares.

11:30 AM

Market check

11:29 AM

Market check | Broader indices slip

11:28 AM

NEWS ALERT | Coffee Day Enterprises write to exchanges

11:24 AM

Buzzing | GTPL Hathway gains 6%

11:13 AM

In last letter to CCD board, Siddhartha blamed lenders, tax authorities

"I would like to say I gave it my all. I am very sorry to let down all the people that put their trust in me," he wrote in the letter, which was also addressed to the wider Coffee Day family. "I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend. Tremendous pressure from other lenders lead to me succumbing to the situation," he added. READ MORE

CCD co-founder VG Siddhartha

11:07 AM

NEWS ALERT | US FDA's observations on Cipla

-- Equipment monitoring process parametrs not adequate

-- Preventive controls over inventory, warehousing management systems not adequate

-- Process validations of API intermediates not executed as per proposals

-- Written procedures for packging not established

 Alert: Form 483 was issued to Cipla’s API site in Bengaluru by US FDA.

         Seven observations were issued after inspecting the plant from 15th July to 19th July

(As reported by CNBC TV18)

11:02 AM

IDBI Bank slips 5%

10:55 AM

Pick of the week :: Kotak Securities

Federal Bank

Recommendation: BU

 

Price: Rs 95 
 

Target: Rs 130 
 

Potential Upside 36.8%

Federal Bank reported ~20% YoY loan growth in 1QFY20, driven by robust growth in retail lending (up ~25% YoY) and strong performance in the agricultural portfolio (up 20% YoY). We forecast the retail and corporate segment to deliver robust growth going ahead. We forecast ~15% loan CAGR in FY19-22E. 

Non-interest income increased sharply by 45% YoY in 1QFY20 led by increase in fee income (up 40% YoY) and sharp uptick in sale of investments at 90% YoY.

10:49 AM

Valuation rerating ahead for ICICI Bank; Q1 loan growth at 14-quarter high

However, the June quarter (Q1) results, published over the weekend, seem to be the most convincing proof that the worst in terms of asset quality may be behind. Net non-performing asset (NPA) ratio at 1.8 per cent and domestic loan growth at 18 per cent year-on-year (YoY) have been the best in 14 quarters. READ MORE

10:40 AM

Sector watch | Metals lose shine; index trades lower

10:38 AM

Strides Pharma soars 12% after Co announces JV with Chinese firm

Strides Pharma Global Pte (Singapore) and Sun Moral International (Hong Kong), a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd (Sihuan), have entered into a JV to form called Sihuan Strides HK Ltd where the latter will hold 49 per cent stake, according to a BSE Filing. READ MORE