Sensex slips 152 points, Nifty closes at 10,303; Bharti Airtel top loser

All that happened in today's trade

12:16 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,408.50	+37.74	+0.11
S&P BSE SENSEX 50	10,785.70	+6.56	+0.06
S&P BSE SENSEX Next 50	35,671.91	-13.48	-0.04
S&P BSE 100	10,808.51	+4.78	+0.04
S&P BSE Bharat 22 Index	3,776.19	+3.60	+0.10

11:57 AM

TCS, Polaris, LTI, MphasiS, KPIT Techno, Nucleus Software hit 52-week highs

 

Shares of information technology (IT) companies were trading higher for the second straight day on the bourses with Nifty IT index and S&P BSE IT index hit their respective fresh 52-week highs in otherwise range-bound market.

 

Tata Consultancy Services (TCS), Polaris Consulting Services, MphasiS, LTI (L&T Infotech), KPIT Technologies and Nucleus Software Exports hit 52-week highs on the BSE. READ MORE

11:40 AM

Mutual funds still shy of taking on companies

 

Mutual funds (MFs) have bettered their participation in shareholder resolutions but are still hesitant to take on India Inc. The percentage of ‘abstain’ votes dipped to 10 per cent for the quarter ended September, from 20 per cent in  the third quarter of 2014-15. 

 

The percentage of votes against managements, however, was only three per cent for the three-year period. As for the top 10 fund houses, only 2.6 per cent of their votes went against managements.  READ MORE

11:26 AM

IDBI Federal hires JPMorgan for sale of promoters' stake

 

Global investment bank JPMorgan has been appointed to sell the stake of the promoters in IDBI Federal Life Insurance. IDBI Bank, Federal Bank and Belgian insurer Ageas are the promoters of the insurer.

 

“JPMorgan has started the process to find the new buyer(s),” said an insider at one of these promoters, who did not wish to be identified. 

 

E-mails and calls made to the JPMorgan spokeperson did not yield any response.

11:07 AM

ICICI Bank plans IPO of broking arm

 

Private sector lender ICICI Bank on Tuesday said it plans to divest part of its stake in broking arm ICICI Securities through an initial public offering (IPO). “The board of directors has approved the sale of a part of its shareholding in ICICI Securities in an IPO, subject to requisite approvals and market conditions. 

 

The size and other details of the offer would be determined in due course,” the bank said in a BSE filing. This will be the third IPO from the group, after those of ICICI Prudential Life and ICICI Lombard. READ MORE

10:51 AM

ICICI Pru Life turns to IT, pharma after risky telecom bet payoff

 

Fund managers at India's largest private sector life insurer, ICICI Prudential Life Insurance, are turning their attention to the technology and pharmaceutical sectors following bumper payoffs from a contrarian bet on the country's telecommunications sector. ICICI Pru Life's Chief Investment Officer, Manish Kumar, said he kept buying telecoms shares this year even as a bruising price war and plunging profits forced several other investors to cut their exposure to the sector. READ MORE

10:34 AM

TeamLease Services surges 17% on strong Q2 results

 

TeamLease Services surged 17% to Rs 1,949, also its record high on the BSE in intra-day trade after the company nearly doubled Iits consolidated net profit at Rs 17.4 crore in September quarter (Q2FY18). It had reported profit of Rs 8.8 crore in the same quarter a year ago.

 

Total revenue during the quarter under review grew 20.6% at Rs 880 crore against Rs 729 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved to 1.7% in Q2FY18 from 1.0% in Q2FY17 and 1.5% in Q1FY18. READ MORE

10:14 AM

Axis Bank hits 52-week high on fund raising plans

 

Axis Bank hit a 52-week high of Rs 550, up 4% on the BSE in early morning trade, after the private sector lender said the board will meet on Friday, 10th November 2017 to consider fund raising plans.

 

“A meeting of the board of directors of Axis Bank will be held on Friday, 10th November 2017 at Mumbai, to inter-alia, consider raising of funds by issue of equity / equity linked securities through permissible mode at an appropriate time,” Axis Bank said in an exchange filing. READ MORE

9:59 AM

Eanings Impact: Cipla

9:47 AM

Cashless not possible, aim for 'taxless' economy: Demonetisation man Bokil

 

He is credited with pitching to Prime Minister Narendra Modi an idea that would lead to the government’s decision to revoke the legal tender status of old Rs 500 and Rs 1,000 notes from the midnight of November 8, 2016, rendering worthless as much as 86 per cent of currency in circulation at the time. 

 

A year and much economic disruption later, Anil Bokil says that calling the exercise ‘demonetisation’ would not be entirely correct. Since it pertained only to currency or cash. ‘note ban’ would be a better expression, he explains. Read full interview

9:35 AM

Only sectoral index in red: Nifty PSU Bank

Source: NSE

9:27 AM

Bhart Airtel falls after block deal

9:25 AM

Sectoral Trend

Source: NSE

9:23 AM

Top Sensex gainers and losers

Source: BSE

9:21 AM

Broader Markets

In broader markets, BSE Smallcap and BSE Smallcap indices were trading 0.3% and 0.2% higher respectively