INSUBCONTINENT EXCLUSIVE:
Network18, TV18 Broadcast, DEN and Hathway
Shares gained up to 20 per cent on BSE.
Vodafone Idea, on the other hand, tumbled over 11 per cent after Care Ratings downgraded its
long-term bank facilities and non-convertible debentures.
Benchmark indices logged their fourth straight day of loss
BSE flagship Sensex fell 161 points to 40,894 while NSE barometer Nifty was down 53 points to 11,992.
"Market sentiment continued to be hit
Global weakness is expected to hurt the domestic market as high valuation and low economic growth is not supportive
The huge government dues to be paid by the telecom sector will keep banking stocks volatile impacting the market performance," said Vinod
Nair, Head of Research at Geojit Financial Services
has bagged a new large contract with New Zealand dairy co-operative, Fonterra to modernise and manage its entire technology infrastructure
Shares of the company slipped 0.72 per cent to Rs 609.
Voda Idea tumbles 11 per centAmid talks of the government encashing its bank
guarantee over default in payment of dues, Vodafone Idea Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash on Tuesday as he
looked for options to keep the company afloat
Meanwhile, shares of Vodafone Idea tanked 11.40 per cent to Rs 3.03 due to rating downgrade on AGR dues and other issues at the
company.
Maruti launches BS-VI IgnisMaruti Suzuki India launched BS-VI compliant version of its premium compact car Ignis priced Rs
Shares of the automaker dipped 1.92 per cent to Rs 6,772.
LIC Housing falls 4 per centShares of LIC Housing fell 4.26 per cent to Rs 363.65
after foreign brokerage Credit Suisse slashed target on the stock by 36 per cent to Rs 320 from Rs 500 earlier.
Hero Moto to invest Rs
10,000 croreHero MotoCorp on Tuesday announced investment of Rs 10,000 crore over the next 5-7 years on various activities, including
research and development and setting up new manufacturing facilities
to Rs 10.34 after more than two dozen entities put in bids to takeover the debt-laden firm.
Media index jumpsNifty Media was the biggest
gainer among sectoral indices on an otherwise muted day, thanks to 14.77 per cent jump in TV18 Broadcast and 4.87 per cent gain in
Network18, both of which will be merged along with DEN and Hathway Cable - Datacom.
Most active stocksMuthoot Finance was the most active
security in terms of turnover on NSE, followed by IndusInd Bank, SBI, IRCTC and Bharti Airtel
In terms of transaction volume, Vodafone Idea topped the table
YES Bank, NCC, Tata Motors and SBI followed.
254 stocks hit year-lowsOver 250 stocks hit their 52-week lows on BSE
They included Bandhan Bank, Bank of Baroda, BHEL, Canara bank, Coal India, Gillette India, Hero Moto, Hindustan Zinc, IndusInd Bank, NBCC,
ONGC, NTPC and ITC, among others.