ITC nosedives 15% as govt hikes cess on cigarettes

Shares of cigarettes maker ITC tumbled 15 per cent on the Bombay stock Exchange after the government increased the cess on cigarettes to compensate manufacturer losses from lower GST rates. Weighed down by the development, shares of FMCG major declined as much as 14.99 per cent to hit intra-day low of Rs 276.90 apiece on the Bombay Stock Exchange.

The stocks were currently trading at

ACC shares up over 3% on robust Quarterly Result

Shares of ACC rose over 3 per cent on the Bombay stock Exchange after the cement maker reported a 32.57 per cent rise in its consolidated net profit at Rs 326.23 crore for the April-June quarter, driven by an increase in sales.

Boosted by strong Q2, shares of company gained as much as 3.34 per cent to hit intra-day high of Rs 1809.80 apiece on the Bombay Stock Exchange. The stocks wer

Reliance Industries Ltd slips over 2% on arbitration penalty

Shares of Reliance Industries fell over 2 per cent on the Bombay stock Exchange after the government asked the company along with Shell and ONGC to pay a combined USD 3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, says an ET report.

Reacting to the news, shares of Mukesh Ambani-led company dec

ITC slips nearly 3% on buzz over cigarettes price hike

Shares of cigarettes maker ITC tanked nearly 3 per cent on the Bombay stock Exchange after media report suggested that the government may consider hiking the compensation cess on cigarettes if prices come down post the implementation of the Goods and Services Tax (GST). Reacting to media reports, shares of company declined as much as 2.89 per cent to hit intra-day low of Rs 327.45 apiece on the

GMR Infra gains 3% on buzz over stake sale in Hyderabad airport

Shares of GMR Infrastructure climbed over 3 per cent on the Bombay stock Exchange after media report suggested that the company was in advanced talks with Abu Dhabi Investment Authority (ADIA) to sell a stake of up to 49 per cent stake in Hyderabad International Airport. Cheering the news, shares of company gained as much as 3.05 per cent to hit intra-day high of Rs 18.55 apiece on the Bombay S

Cadila rises nearly 3% on USFDA nod to for sclerosis drug

Shares of Cadila Healthcare soared nearly 3 per cent on the Bombay stock Exchange after drug major said that it has received the tentative approval from the United States Food and Drug Administration (USFDA) to market Fingolimod Capsules. Boosted by the development, shares of company gained as much as 2.87 per cent to hit intra-day high of Rs 545.40 apiece on the Bombay Stock Exchange.

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Karnataka Bank slips over 4% on disappointing Quarterly Result

Shares of Karnataka Bank tumbled over 4 per cent on the Bombay stock Exchange after the lender reported lower-than-expected top and bottom line growth. The bank has posted a 10 per cent growth in net profit at Rs 134 crore, compared with Rs 122 crore last year.

Reacting to Q1 result, shares of bank declined as much as 4.49 per cent to hit intra-day low of Rs 158.25 apiece on the Bomba

Wipro jumps over 5% on share buyback plan

Shares of Wipro surged over 5 per cent on the Bombay stock Exchange after IT major said that its board would consider a proposal for buyback of equity shares of the Company on July 20, 2017. “A meeting of the Board of Directors of the Company to be held over July 19-20, 2017, to consider a proposal for buyback of equity shares of the company on July 20, 2017,” Wipro said in a filing

Sharp India falls over 4% after Director resigns

Shares of home appliances and consumer electronic products maker Sharp India tumbled over 4 per cent on the Bombay stock Exchange after the company said that its Director Kazunori Ajikawa has resigned. “Kazunori Ajikawa has resigned as a Director of the company with effect from, Friday, 14th July 2017,” said Sharp India in a filing to BSE.

Weighed down by the development,

Reliance Industries Ltd. extends rally; scrip hits fresh 52-week high

Shares of Reliance Industries continued gaining streak on Monday and rose over 1 per cent, hitting fresh 52-week high, on the Bombay stock Exchange amid strong oil demand growth outlook and new tariff plan announced by its telecom subsidiary Reliance Jio. Reliance Jio announced new tariff plan for its Jio Prime Members under which they can enjoy unlimited services for three months with Rs 399 p

Infosys shares up 1% on revenue growth outlook

Shares of Infosys rose over 1 per cent on the Bombay stock Exchange after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant cur

Indias trade deficit narrows to $13 billion in June

NEW DELHI  - India's trade deficit narrowed more-than-expected to $12.96 billion in June as gold imports nearly halved from a month earlier, government data showed on Friday.

Economists in a Reuters poll had predicted that trade deficit would decline to $12.5 billion in June compared with a provisional $13.84 billion in the previous month.

Gold imports declined to $

Infosys Quarterly Result profit dips 3.3%; retains FY18 revenue guidance

Leading IT major, Infosys has said that it has reported a 3.3 per cent drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. The IT major had reported Rs 3,603 crore profit during the previous quarter of last year. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year.

The compa

Infibeam board okays share split, CC Avenue amalgamation

The board of e-commerce firm Infibeam Incorporation has approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "...The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... H

HPCL extends rally on merger buzz

Shares of state-run oil marketing company Hindustan Petroleum Corporation Limited (HPCL) rallied over 6 per cent on the Bombay stock Exchange after media report suggested that government may complete ONGC-HPCL merger by the end of FY18. Extending rally on merger buzz, shares of HPCL gained as much as 6.31 per cent to hit intra-day high of Rs 359.30 apiece on the Bombay Stock Exchange. The stock

Sintex Ind zooms nearly 14% amid block deal

Shares of Sintex Industries rallied nearly 14 per cent on the Bombay stock Exchange after global rating agency Morgan Stanley purchased nearly 36 lakh shares in the company in a bulk deal on Wednesday. Driven by block deal, shares of the company gained as much as 13.72 per cent to hit intra-day high of Rs 33.55 apiece on the Bombay Stock Exchange.

The stocks were currently trading at

ITC extends rally; scrip up 3%

Shares of FMCG major ITC continued gaining streak and soared over 3 per cent on the Bombay stock Exchange as investors widened bet on this company after the government successfully implemented the goods and services tax (GST) on July 1. According to data available with exchange, the scrip of the company rallied 20 per cent in past two months after the government unveiled plan to roll-out long p

L&T up nearly 2% as stocks turn ex-dividend

Shares of Larsen & Toubro rose nearly 2 per cent on the Bombay stock Exchange after stocks turned ex-dividend today. Ex-dividend date is the date on or after which a share is traded without a previously declared dividend. In line with benchmark indices, shares of the company gained as much as 1.79 per cent to hit intra-day high of Rs 1181.50 apiece on the Bombay Stock Exchange.

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Goa Carbon hits 52-week ahead of Quarterly Result1

Shares of Goa Carbon soared nearly 5 per cent, hitting 52-week high, on the Bombay stock Exchange ahead of board meeting today to release April-June quarter results. Ahead of Q1, shares of the company gained as much as 4.97 per cent to hit 52-week high of Rs 383.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 374.85 against previous close price of Rs 364.85.

ONGC, HPCL share rise on merger buzz

Shares of oil marketing companies ONGC and HPCL rose on Wednesday on the Bombay stock Exchange after media report suggested that that the proposed deal between the two companies will be completed by the end of FY18. Riding high on merger buzz, shares of Oil & Natural Gas Corporation (ONGC) gained as much as 3.33 per cent to hit intra-day high of Rs 165.75 apiece on the Bombay Stock Exchange

Reliance Industries Ltd hits 9-year high as Jio announces new plans

Shares of Reliance Industries soared nearly 2 per cent, hitting 52-week high, on the Bombay stock Exchange after its telecom subsidiary Reliance Jio announced new tariff plan for its Jio Prime Members under which they can enjoy unlimited services for three months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services. Cheering the news, shares of the

Bodal Chemicals hits 52-week high as Kacholia buys stake

Shares of Bodal Chemicals rallied over 12 per cent, hitting 52-week high, on the Bombay stock Exchange after ace investor Ashish Kacholia acquired 1 per cent stake in the company through open market transaction. Buoyed by the development, shares of the company gained as much as 12.14 per cent to hit 52-week high of Rs 187.05 apiece on the Bombay Stock Exchange.

The stocks were current

IndusInd Bank gains over 1% post Quarterly Result 1

Shares of IndusInd Bank climbed over 1 per cent on the Bombay stock Exchange after the private sector lender reported a 26.5 per cent year-on-year growth in its net profit at Rs 836.55 crore for the June quarter, buoyed by higher net interest and other income. During the quarter under review, total income of the bank surged by 21.5 per cent to Rs 5,302.77 crore as against Rs 4,363.57 crore in t

Tata Global up 3% on plans to sale stake in group's firms

Shares of Tata Global Beverages rose over 3 per cent, hitting 52-week high, on the Bombay stock Exchange after the company said it will sell its stake in various Tata group companies to its parent, Tata Sons, in the next few months. Following the announcement, shares of the company gained as much as 3.40 per cent to hit 52-week high of Rs 174.65 apiece on the Bombay Stock Exchange.

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Technology stocks extend rally; Infy up 2%

Shares of IT and Technology stocks extended rally for the second day and emerged as top gainers on the Bombay stock Exchange ahead of the beginning of June quarter earnings seasons this week. IT bellwether TCS will release April-June quarter earnings on July 13, 2017, while Infosys will declare its Q1 results on July 14, 2017. Meanwhile, BSETECk index was at 5752.59, up by 61.07 point