MARKET WRAP: Sensex tanks 491 pts, ends below 39k at 1-month closing low

All that happened in the markets today

2:23 PM

Airtel Africa's London IPO set at 80-100 pence per share; to mop up $750 mn

Bharti Airtel Monday announced the price range of its Africa business IPO on the London Stock Exchange at 80-100 pence per ordinary share, through which the company expects to raise $750 million (approximately Rs 5,236 crore). "The price range for the offer has been set at 80 pence to 100 pence per ordinary share, implying a market capitalisation on admission of between 3,007 million and 3,623 million pounds (approximately USD 3,788 million-4,565 million)," Airtel Africa said in a London Stock Exchange filing. READ MORE

2:17 PM

NEWS ALERT | Financial stability is now a key factor in the monetary policy: RBI Governor

2:17 PM

NEWS ALERT | To ensure price stability under inflation targeting regime: RBI Guv

2:16 PM

NEWS ALERT | To focus on growth when inflation is under control: RBI

2:15 PM

NEWS ALERT | Bahrain’s company Batelco extends its partnership with Tata Comm: CNBC-TV18

2:07 PM

HDFC Securities on Orient Cement

RECO: Buy

 

SEQUENTIAL TARGETS: Rs 122.5-Rs 131 Rs 88

 

TIME HORIZON: 3-4 quarters

 

Orient Cement is on the cusp of accelerated earnings growth after a stressful period due to operational lull and high financial leverage on books. Demand growth for cement in Southern India has now picked up and is expected to sustain well for the coming fiscals; this is helping players improve their utilisations. Also, the net sales realisations has now improved with realisations moving northwards / staying high in the past 4 months. Apart from these growth levers, we can expect a better margin profile for OCL due to the new railway siding project near its Chittapur plant and WHRS captive power arrangements at two of its plants. Margins may expand on account of company’s efforts to improve its realisations from the superior quality cement it introduced in Q1FY19.

 

2:05 PM

Market check | Nifty50 slips below 11,700 intra-day

1:45 PM

Buzzing | PC Jeweller slips over 13% in trade

1:32 PM

Lupin, Divi's Lab, Aurobindo Pharma: Here's how you can trade pharma stocks

Nifty Pharma: The index is trading around 52-week low of 7900, which suggests a negative sentiment going ahead. The weekly chart in the month of August 2018 showed a trend line breakout that resisted at 200-weekly moving average (WMA) at 10,730. Thereafter, the index has been weak and profit booking has happened at regular intervals. It did try to reverse trend in March 2019 but witnessed selling pressure around 9600 levels. As index dips lower, selling pressure can intensify. READ MORE

1:31 PM

Prabhudas Lilladher on Ceat

1:23 PM

NEWS ALERT | DCC seeks Trai's view to revise penalty amount: PTI

Alert: DCC is Digital Communications Commission

       : Airtel, Vodafone-Idea were fined  for allegedly denying Reliance Jio Infocomm adequate points of interconnection (PoIs) in 2016 

 

 

1:21 PM

NEWS ALERT | DCC approves Rs 3,050 cr penalty on Airtel, Vodafone-Idea: PTI

1:18 PM

India's bond rally could stall as investors worry about govt's fiscal math

The 10-year yield will stay close to current levels at 6.98% by end of June, according to a Bloomberg survey, bringing an end to the slide of about 50 basis points over the past six weeks. Yields have tumbled as the Reserve Bank of India cut interest rates, Prime Minister Narendra Modi won a thumping election victory and slowing global growth spurred a global debt rally. READ MORE

1:13 PM

Jain Irrigation is trading 4.7% lower

1:07 PM

NEWS ALERT | 1.9 cr shares of Apollo Tyres, forming 3.3% equity worth Rs 380 cr trade on NSE at avg of Rs 200/share: CNBC TV18