Sensex, Nifty off day's high but in green; Maruti, Bharti down

Moneycontrol Bureau11:55 am Monsoon: In what could give some respite to Maharashtra battling drought, the Meteorological Department has said the state is likely to receive 27 percent more rainfall than the annual average this monsoon.

Met department regional deputy director Krishnanand Hosalikar gave the information at a high-level Disaster Management Prepardness meeting here at Thane districtheadquarters yesterday.

The official also apprised that the Konkan region is likely to get about 27.50 percent more than the annual average rainfall this rainy season, a press release issued by district Informational Department said.

11:30 am Woes: Lenders and promoters of debt-stricken Alok Industries, which was taken over earlier this year under the strategic debt restructuring (SDR) route, have failed to bring in buyers and have revised talks with foreign pension funds to pump in equity in a last-ditch effort to save the day.Sources have told CNBC-TV18, that KKR, SSG and Vardhaman Textiles, all of whom were interested in picking up stake in Alok, have backed out of the deal due to valuation mismatch.An ongoing case with HSBC filed in the Bombay High Court has been the major hindrance to the deal, in which the HC has barred Alok from selling stake of or infusing equity into the company till a winding-up petition filed by the lender is settled.Don't miss: Mallya PMLA case: ED to attach India assets worth Rs 9,000 cr The market is off day's high but still in green. The Sensex is up 138.04 points or 0.5 percent at 25735.06, and the Nifty is up 41.65 points or 0.5 percent at 7890.50. About 1399 shares have advanced, 649 shares declined, and 111 shares are unchanged.