The GRS Solution | Market Live: Sensex, Nifty hit record highs at open: Yes Bank down 10%, USL up 9%:-
9:30 am NDTV in focus: The Income Tax Department has attached the entire 29.12 percent shareholding of RRPR Holding Pvt Ltd in NDTV, the media house said in a regulatory filing.RRPR is the largest promoter group company in New Delhi Television Ltd, the company that operates news channels NDTV 24x7, NDTV India and NDTV Profit. the grs solution
"RRPR Holding Pvt Ltd, one the promoters of the company, has informed the company today that it has received an order dated October 25, 2017, issued by Deputy Commissioner of Income Tax under section 281B of the Income Tax Act, 1961, provisionally attaching the entire shareholding held by RRPR in the company comprising 1.88 crore equity shares," NDTV said in a filing to the stock exchanges.
It, however, did not give details of the dispute over which the I-T Department has attached the shares.
9:25 am IPO: HDFC Standard Life Insurance Company, a subsidiary of country's largest mortgage lender HDFC, fixed price band for its Rs 8,695-crore initial public offer (IPO).
"In this connection, we wish to inform you that the price band for the IPO has been fixed at Rs 275 to Rs 290 per equity share of Rs 10 each of HDFC Life," HDFC said in a regulatory filing on the stock exchanges.
The minimum bid lot for the IPO has been fixed at 50 equity shares and applications may be made in multiples of 50 equity shares, it said.
The company proposes to issue 29,98,27,818 shares. The issue opens on November 7 and will close on November 9.
9:20 am Buzzing: Shares of Cipla added 2.5 percent in morning on USFDA approval for Sevelamer Carbonate tablets.
The company's subsidiary InvaGen Pharmaceuticals Inc. has received final approval for its abbreviated new drug application (ANDA) for Sevelamer Carbonate Tablets, 800 mg, from the United States Food and Drug Administration (USFDA) to market a generic version of Genzyme’s Renvela Tablets, 800 mg.
Sevelamer Carbonate Tablets, 800 mg is an AB-rated generic equivalent to the reference listed drug, Renvela tablets, 800 mg of Genzyme Corporation.
9:15 am Market Check: The market started off last day of the week on a positive note as equity benchmarks hit fresh record highs but Nifty Bank fell over half a percent due to weak earnings from Yes Bank.
The 30-share BSE Sensex was up 83.71 points at 33,230.84 and the 50-share NSE Nifty rose 15.10 points or to 10,358.90.
Yes Bank plunged 10 percent post earnings while ICICI Bank was down 2.5 percent ahead of earnings later today.
ITC, Maruti and IOC gained ahead of earnings.
Cipla, BPCL, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance, L&T, Bajaj Auto, Aurobindo, Infosys and Tata Motors gained 1-2 percent.
Nifty Midcap index was up 0.3 percent and Smallcap gained 0.6 percent as about 897 shares advanced against 337 declining shares on the NSE.
Union Bank, Syndicate Bank, Allahabad Bank and DHFL were down a percent each.
Can Fin Homes, LIC Housing Finance, Mastek, Jubilant Foodworks and Polaris Consulting rallied 1-8 percent.
After earnings, Biocon fell 5.5 percent while United Spirits was up 8.5 percent and Crompton Consumer rallied 5 percent.
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