Benchmark Indices Turned Volatile On Caution Ahead Of Union Budget

Benchmark indices turned volatile on caution ahead of Union Budget. The BSE Sensex rose 35.13 points to 39,943.19 while the Nifty50 fell 1.40 points to 11,945.40.

Maruti Suzuki: Competition Commission of India orders probe against company

GMR Infrastructure: Group sold entire stake of 47.62 percent in GMR Chhattisgarh Energy to Adani Power.

L&T Finance Holdings: Company will receive $550 million in an ECB investment round anchored by IFC, a member of the World Bank Group, and BNP Paribas, Citibank, and DBS Bank Limited.

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Axis Bank Shares Gained Nearly A Percent Intraday After Global Brokerage

Axis Bank shares gained nearly a percent intraday after global brokerage firm maintained buy call on the stock as profit is expected to turn around in FY20.

The research house raised price target to Rs 1,000 from Rs 890 earlier, implying 24 percent potential upside and it sees an earnings recovery in FY20 as credit costs normalise.

Dish TV shares gained 5 percent after a media report indicated that Bharti Airtel is likely to partner with Warburg Pincus to buy company's promoters' 58 percent stake at Rs 45-50 a share.

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Shares Of Titan Company Declined 1 Percent In The Early Trade On July 4

Shares of Titan Company declined 1 percent in the early trade on July 4 after foreign brokerage house Morgan Stanley downgraded the stock to the equal-weight from overweight.

Shares of ITC trading marginally lower despite add rating by Kotak Institutional Equities with a target of Rs 335 per share.

According to broking house, fundamentals are improving even as narrative stays weak, meanwhile operating profit growth accelerates across segments except agri. The weak narrative continues to weigh on the stock.

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The Sensex Is Up 66.64 Points At 39905.89, While Nifty Is Up 22.50 Points At 11939.30

The Sensex is up 66.64 points at 39905.89, while Nifty is up 22.50 points at 11939.30. About 440 shares have advanced, 245 shares declined, and 29 shares are unchanged.

Infosys, TCS, Tech Mahindra, Allahabad Bank, ONGC, Indiabulls Housing, UPL, Eicher Motors, Yes Bank, Axis Bank, Dr Reddy's Lab, Tata Motors and Hero Motocorp are among major gainers on the indices, while losers are Tata Steel, JSW Steel, Hindalco, Titan and Wipro.

Among the sectors, PSU bank led the gainers followed by IT, pharma and auto, while selling seen in the metal index.

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Bharat Forge Shares Turned Volatile After Further Sharp Fall In North America

Bharat Forge shares turned volatile after further sharp fall in North America Class 8 truck orders in June.

Total North America Class 8 truck orders plunged 68.9 percent to 13,000 units in June 2019, against order of 41,819 units in same month last year.

However, Class 8 truck orders increased 25 percent in June, compared to 10,400 units in May 2019.

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Reserve Bank Of India Has Imposed A Penalty Of Rs 50 Lakh

RBI imposes penalty on UCO Bank: Reserve Bank of India has imposed a penalty of Rs 50 lakh for non-compliacne of RBI directives on "KYC Norms/AML Standards/CFT/Obligation of banks and financial institutions under PMLA 2002" and also on "Opening of Current Accounts by Banks - Need for discipline".

India's Nikkei Services PMI dropped to 49.6 in June against 50.2 in previous month and Composite PMI also declined to 50.8 compared to 51.7 in May 2019.

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Benchmark Indices Opened Lower On July 2 With Nifty Below 11,900 Level

Benchmark indices opened lower on July 2 with Nifty below 11,900 level.

The Sensex is down 47.44 points or 0.12% at 39769.04, and the Nifty down 10.40 points or 0.09% at 11899.90. About 331 shares have advanced, 218 shares declined, and 35 shares are unchanged.

BPCL, IOC, IndusInd Bank, UPL, Asian Paints are among the major gainers on the indices, while losers are Vedanta, Tata Steel, Hindalco, TCS, Tech Mahindra, Bajaj Finance, ONGC, HDFC, Eicher Motors and Indiabulls Housing.

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