MARKET WRAP: Sensex up 266 pts as financials, auto stocks rally

n the broader market, the S&P BSE Mid-Cap closed 80 points, or 0.56 per cent, higher at 14,495 levels. Similarly, the S&P BSE Small-Cap settled 56 points, or 0.41 per cent, higher at 13,755 levels.

2:29 PM

NEWS ALERT | Fitch affirms Glenmark long-term issuer rating at BB

2:29 PM

Market check | Nifty approaches 11,600

2:28 PM

Market check | Sensex trading at day's high

2:26 PM

Investors may find it hard to dodge India's plan to tax the super rich

With frightened investors wiping off Rs 2.9 trillion ($42 billion) from the benchmark S&P BSE Sensex since the budget on July 5 through Wednesday, tax officials have suggested that global funds convert themselves from trusts -- a structure followed by several foreign funds that invest in India -- to corporates as a way to avoid paying the higher surcharge. READ MORE

2:17 PM

NEWS ALERT | CARE Ratings reaffirms A1+ rating for BHEL's commercial paper of Rs 8,000 cr: CNBC TV18

2:12 PM

NEWS ALERT | Supreme Court adjourns hearing on Jaypee Infra to July 18: BTVi

-- SC says, let the NCLAT procedures continue, do not want to bypass it

-- Can exercise powers under xection 142 if NCLAT passes adverse order

2:08 PM

NEWS ALERT | Reliance Power’s Samalkot Project recasts Rs 2,430 cr loan from US-EXIM

2:00 PM

Market check

1:59 PM

Market check

1:58 PM

NEWS ALERT | CARE Ratings revises Dish TV's banking facilities to A3+ from A3

1:54 PM

NEWS ALERT| Rel Infra signs inter-creditor agreement with 16 lenders: CNBC TV18

-- Achieves standstill for 180 days as the per inter-creditor agreement

1:38 PM

Auto stocks gain

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
TATA MOTORS	156.00	4.60	3.04	1059147
ASHOK LEYLAND	84.55	-0.25	-0.29	611206
TATA MOTORS-DVR	75.25	2.15	2.94	165585
ESCORTS	544.50	7.25	1.35	77369
MARUTI SUZUKI	6012.00	83.30	1.41	33472

1:31 PM

Finance ministry may look into tax regime of employee stock ownership plan

The government will review the taxation regime of employess stock ownership plans (Esops). Esop is a compensation tool for employees and a review is underway to address the effectiveness of the instrument, reported Economic Times. The review will not be confined to startups.  The stock option is an instrument used for compensation or to retain talent in the company. The DPIIT had pushed for making Esops in startups taxable only at the time of sale. READ MORE

1:23 PM

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

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
AJANTA PHARMA	888.75	875.00	-21.75	-2.39
ASAHI INDIA GLAS	202.80	200.00	-7.20	-3.43
BLUE DART EXP.	2607.00	2581.70	3.80	0.15
C P C L	182.00	176.05	-0.80	-0.44
CARE RATINGS	874.65	871.00	-14.65	-1.65

1:12 PM

DHFL off day's low, surges 6%