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Jul 11, 2019 03:37 PM IST | Source:

Closing Bell: Sensex gains 266 pts, Nifty fails to reclaim 11,600; all sectoral indices in green

All sectoral indices traded in green with Metal, Pharma and Realty gaining a percent each.

  • Jul 11, 03:35 PM (IST)

    Market Closing bell

    The market recouped all its previous day's losses to close sharply higher after Federal Reserve chair Jerome Powell hinted at a rate cut ahead.

    The BSE Sensex was up 266.07 points at 38,823.11 and the Nifty50 rallied 84 points to 11,582.90.

    Hero Motocorp, IndusInd Bank, Tata Motors, Vedanta and SBI were top gainers among Sensex stocks, rising 2.5-4.6 percent while ICICI Bank, Bajaj Auto, Axis Bank, TCS and L&T were losers.

  • Jul 11, 03:26 PM (IST)

    Monsoon Update

    India is likely to get below-average rainfall in the next two weeks with a large deficit in the soybean and cotton growing central and western regions, a weather department official said on July 11, raising concerns over output of summer-sown crops.

    "Weather model is showing deficiency in rainfall over central and western India in next two weeks," said an official with the India Meteorological Department (IMD), who declined to be named as he was not authorized to speak with media.

    "The north-east and foothills of Himalaya could get good rainfall," he said. Source: Reuters.

  • Jul 11, 03:20 PM (IST)
  • Jul 11, 03:13 PM (IST)

    Cadila Healthcare Gains 3%

    HSBC maintained buy call on the stock but slashed price target sharply to Rs 260 from Rs 410 after cutting FY20/21 EPS estimates by 4.4 / 5.2 percent.

    It feels 34 percent price correction in last three months largely factors in negatives. "We do not expect further deterioration in key segments."

    The global brokerage said US generic sales should stabilise on momentum in new launches and the clarity will emerge on FDA status of Moraiya plant by early August. "India sales should see recovery from Q2FY20."

  • Jul 11, 03:05 PM (IST)

    Navkar Corporation Jumps 5%

    SBICAP acquired 6.14 percent stake via pledge encumbrance in company on July 9.

  • Jul 11, 03:03 PM (IST)

    Earnings Update

    CCL Products said consolidated net profit for June quarter fell 12.1 percent to Rs 34.7 crore and revenue declined 7.2 percent to Rs 273.2 crore compared to year-ago period.

  • Jul 11, 03:00 PM (IST)

    DHFL Update:

    The meeting among DHFL's stakeholders concluded and exploratory talks were held on resolution plan, reports CNBC-TV18 quoting sources.

    The business channel learnt from sources that lenders gave the housing finance company 7 days to present resolution proposal and the meeting said to have discussed broad contours of resolution plan and debt conversion.

    Lenders said to have assured NCD holders of a comprehensive resolution plan to maximise value for all stakeholders, the report added.

    DHFL remains in talks with Aion Capital, Cerberus Capital & Oaktree for potential deal.

  • Jul 11, 02:54 PM (IST)

    Order Win

    Steel Strips Wheels has received order worth $3.5 million in US.

  • Jul 11, 02:35 PM (IST)
  • Jul 11, 02:30 PM (IST)

    CARE Ratings reaffirmed its A1+ rating for BHEL's commerical paper of Rs 8,000 crore.

  • Jul 11, 02:30 PM (IST)

    Glenmark Pharma Gains 2%

    Global rating agency Fitch affirmed company's long-term issuer rating at BB.

  • Jul 11, 02:27 PM (IST)

    Market Update:

    Benchmark indices were trading at day's high with the BSE Sensex rising 309.49 points to 38,866.53 and the Nifty50 inching towards 11,600, up 95.30 points at 11,594.20.

  • Jul 11, 02:05 PM (IST)

    Just In

    Reliance Power's Samalkot Project successfully recasted Rs 2,430 crore (around $347 million) loan from US-Exim.

  • Jul 11, 01:56 PM (IST)

    Just In

    Reliance Infrastructure's Inter-Creditor Agreement (ICA) signed amongst its 16 lenders.

  • Jul 11, 01:50 PM (IST)

    Auto Stocks in Top Gear

      Auto Stocks in Top Gear
  • Jul 11, 01:39 PM (IST)

    Greaves Cotton Plunges 9%

    Greaves Cotton shares fell 9 percent intraday after company increases stake in subsidiary Ampere Vehicles Pvt Ltd.

    The engines and heavy equipment manufacturer informed exchanges that it has acquired 15,04,523 equity shares, by way of investment, in its subsidiary Ampere Vehicles Private Limited, India.

    Greaves bought this additional stake through primary and secondary purchase for a total consideration of Rs 22.5 crore.

  • Jul 11, 01:13 PM (IST)

    Hind Rectifiers in Focus

    CRISIL upgraded its credit rating on company's long term bank facilities to BBB- from BB+ with stable outlook and short term rating to A3 from A4+.

  • Jul 11, 01:09 PM (IST)

    Collaboration for Tax Validation Tool

    Datamatics Global Services said its collaboration with Thomson Reuters will bring together TaxAnalyze, a Tax Validation tool.

    "The product will help corporates streamline their financial information, automate tax processes and ensure seamless tax calculations. The solution is powered by Thomson Reuters ONESOURCE and Datamatics TruBI," it added.

  • Jul 11, 01:06 PM (IST)
  • Jul 11, 01:01 PM (IST)

    Sensex Gainers & Losers

      Sensex Gainers & Losers
  • Jul 11, 12:44 PM (IST)

    Tata Motors' Global Wholesales

    "Global wholesales in June 2019, including Jaguar Land Rover, were at 95,503 units, lower by 5 percent compared to June 2018," Tata Motors said.

    Global wholesales of commercial vehicles and Tata Daewoo range in June were at 38,846 units lower by 12 percent YoY, it added.

    Company said wholesales of all passenger vehicles grew by 1 percent to 56,657 units.

  • Jul 11, 12:31 PM (IST)

    InterGlobe Aviation Falls 5%

    Sources told CNBC-TV18 that capital market regulator SEBI called IndiGo's Company Secretary for a meeting after a feud between Rakesh Gangwal and Rahul Bhatia over corporate governance issue.

    Earlier SEBI had asked for IndiGo's response over corporate government by July 19.

  • Jul 11, 12:20 PM (IST)

    Market Update:

    Benchmark indices maintained positive trend in afternoon with the Sensex climbing 206.29 points to 38,763.33 and the Nifty50 rising 67.60 points to 11,566.50.

  • Jul 11, 12:19 PM (IST)

    Land Sale

    Aviation Minister Hardeep Singh Puri said Air India has 111 parcels of land and of which the government would put up 81 for sale, reports CNBC-TV18.

  • Jul 11, 12:12 PM (IST)

    Bharat Forge Climbs 2%

    Kalyani Rafael has received $100 million order for manufacturing 1,000 BARAK-8 MRSAM Missile Kits

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