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MUMBAI: Reliance Industries Ltd will invest Rs 1.08 lakh crore through a rights issue in a newly formed, wholly owned subsidiary, which in turn will use the proceeds to invest in Reliance Jio Infocomm with the aim of making the telco a virtually net debt free company by March 31, 2020.

“Identified liabilities” of a corresponding amount of Jio will

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Stock market update: Private banks mixed; IDFC Bank jumps over 6%
NEW DELHI: Shares of private banks were trading on a mixed note on Friday's morning session.

Shares of IDFC First Bank (up 6.44 per cent), ICICI Bank (up 1.24 per cent), RBL Bank (up 0.72 per cent) and HDFC Bank (up 0.72 per cent) were among the top gainers in the index.

While IndusInd Bank (down 0.75 per cent), Kotak Mahindra Bank (down 0.50 per

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Share market update: FMCG shares trade higher; ITC rises 1%
NEW DELHI: FMCG shares were trading higher in Thursday's morning session.

Shares of ITC (up 0.90 per cent) , Dabur India (up 0.69 per cent) , Britannia Industries (up 0.65 per cent) and Tata Global Beverages (up 0.63 per cent) were trading in the green.

Godrej Industries (up 0.54 per cent) , Procter - Gamble Hygiene - Healthcare (up 0.46

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Loan growth remains tepid even after loan melas, reveals RBI data
MUMBAI: Loans growth remained tepid in the fortnight ended October 11 signalling that the loan melas that kicked off this month are yet to lead to a significant impact on disbursals.

Aggregate loans disbursed by the commercial banks in the country rose Rs 21,645 crore during the fortnight ended October 11, to Rs 97.9 lakh crore, according to the

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Investors change tack as risk management takes precedence
It’s a tricky market. It’s one without a clear domination of the bulls or the bears. If the breadth of the market is being dominated by the bears, the bull camp still has bluechips by their side.

That said, the pessimists might have a clear upper hand with the haze over the economy and corporate earnings only thickening, making it tough for investo

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MTNL shares hit upper circuit on Rs 69,000 crore revival plan
Shares of Mahanagar Telephone Nigam (MTNL) hit the upper circuit limit on Thursday after the government on Wednesday approved a Rs 69,000 crore revival package for BSNL and MTNL, including a proposal to merge the two loss-making firms, monetise assets and give VRS to employees to turn the combined entity profitable in two years.

The scrip jumped

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HDFC AMC Q2 profit jumps 79% to Rs 368 crore
New Delhi: HDFC Asset Management Company (AMC)on Friday reported a 79 per cent jump in profit after tax at Rs 368.3 crore in the three months ended September 30, 2019.

In comparison, the fund house had posted a profit after tax (PAT) of Rs 205.9 crore in the year-ago period, HDFC AMC said in a statement.

Total income rose by 7 per cent to Rs 549

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Share market update: Sterlite Tech, Vodafone Idea among top losers on BSE

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Global brokerages bearish on Hero MotoCorp, see up to 8% downside
Global brokerages maintained their ratings on Hero MotoCorp after the motorcycle manufacturer reported a drop in profit for the September quarter, dented by a one-time loss.

CLSA said the forthcoming emission norms would create more headwinds for Hero MotoCorp. India is going to implement BS-VI emission norms from April 2020, which will mean more

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ITC posts strong Q2 resuts; should you buy the stock?
NEW DELHI: Shares of FMCG major ITC climbed over 2 per cent in early trade on Friday after the company’s quarterly standalone net profit jumped more than 36 per cent to an all-time high of Rs 4,023 crore for the September quarter, helped by a fall in tax expenses and tax credit.

The scrip was trading 2.37 per cent up at Rs 254.85 at around 9.30 am

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By Andy MukherjeeSuspend your disbelief, and like the protagonist of the popular Bollywood movie “3 idiots,” keep muttering: “All is well, all is well.”

If it isn’t yet, it will be.

That seems to be the whole approach behind the ongoing efforts to restructure an Indian financier, Dewan Housing Finance Corp., which some months back started

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Share market update: Metal shares decline; NMDC dips 1%
NEW DELHI: Metal shares were trading with losses in Thursday's morning session.

Shares of NMDC (down 0.79 per cent) , JSW Steel (down 0.58 per cent) , Steel Authority of India (SAIL) (down 0.57 per cent) and National Aluminium Company (down 0.46 per cent) were trading with losses.

Jindal Steel - Power (down 0.44 per cent) , Hindustan Copper

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Stock market update: IT shares slip; Tech Mahindra down 2%
NEW DELHI: IT shares were trading in the red in Friday's morning session.

Shares of Tech Mahindra (down 1.88 per cent) , Infibeam Avenues (down 1.09 per cent) , HCL Technologies (down 1.08 per cent) and NIIT Technologies (down 0.98 per cent) were trading in the red.

Mindtree (down 0.92 per cent) , Oracle Financial Services Software (down 0.45 per

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Share market update: Dish TV, PNB Housing among top gainers on BSE

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USSEC begins probe on the whistleblower complaints against Infosys
Bengaluru: The US Securities and Exchange Commission (USSEC) has started an investigation on the whistleblower complaints against Infosys claiming malfeasance in accounting.

Infosys is in touch with the USSEC and would cooperate with the investigation, said the company in a filing to the BSE.

ET reported on Monday that a group terming itself as

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Tata Motors Q2 preview: Rs 1,200-1,600 crore loss likely, operating margin may shrink
NEW DELHI: Tata Motors is likely to report Rs 1,200-1,600 crore loss for the September quarter. Analysts said while JLR business may show some improvement, domestic business numbers may prove a drag. The demand outlook for JLR’s key markets and update on its cost-cutting initiatives will be keenly tracked when the Tata Group firm declares its q
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Buy Apollo Hospitals, target price Rs 1,600: Shrikant Chouhan
Shrikant Chouhan of Kotak Securities Limited has buy call on Apollo Hospitals Enterprise Ltd. with a target price of Rs 1600.0 . The current market price of Apollo Hospitals Enterprise Ltd. is Rs 1525.95 Shrikant Chouhan recommended to keep stoploss at Rs 1499 Apollo Hospitals Enterprise Ltd., incorporated in the year 1979, is a Large Cap
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Stock market update: Realty shares mixed; Indiabulls Real Estate up 2%
NEW DELHI: Realty shares were trading on a mixed note in Thursday's morning session.

Shares of Indiabulls Real Estate (up 1.90 per cent) , DLF (up 0.94 per cent) , Mahindra Lifespace Developers (up 0.88 per cent) and Phoenix Mills (up 0.48 per cent) were the top performers in the index.

Brigade Enterprises (down 2.34 per cent ) , Oberoi Realty

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Stock market update: Cement stocks mixed; Andhra Cements slides 4%
NEW DELHI: Most of the cement stocks were trading on a mixed note in Friday's morning session.

Shares of Shree Digvijay Cement Co (up 3.97 per cent), Sagar Cements (up 1.85 per cent), J K Cements (up 1.14 per cent), Sanghi Industries (up 0.96 per cent) and Dalmia Bharat (up 0.91 per cent) were among the top gainers.

While Andhra Cements (down

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Sell Aurobindo Pharma, target price Rs 445: Shrikant Chouhan
Shrikant Chouhan of Kotak Securities Limited has sell call on Aurobindo Pharma Ltd. with a target price of Rs 445.0 . The current market price of Aurobindo Pharma Ltd. is Rs 467.25 Shrikant Chouhan recommended to keep stoploss at Rs 483 Aurobindo Pharma Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs
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SEC, Sebi initiate investigation against Infosys over whistleblower charges; shares down
Infosys on Thursday informed bourses that Securities and Exchange Commission (SEC) has initiated an investigation into the anonymous whistleblower complaints.

“The company will cooperate with the SEC’s investigation,” Infosys said in a BSE filing.

Shares of the company were trading 1.24 per cent down at Rs 642.70 in Thursday's morning trade, while

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Share market update: Bank shares in the green; SBI up 2%
NEW DELHI: Bank shares were trading in the positive zone in Friday's morning session.

Shares of IDFC First Bank (up 5.15 per cent) , State Bank of India (up 2.06 per cent) , ICICI Bank (up 1.69 per cent) and Bank of Baroda (up 0.83 per cent) were the top performers in the index.

HDFC Bank (up 0.76 per cent) , Punjab National Bank (up 0.59 per

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Share market update: PSU bank shares slip; Indian Bank slumps 8%
NEW DELHI: Shares of PSU banks were trading in the negative zone in Thursday's morning session.

Shares of Indian Bank (down 8.08 per cent), Canara Bank (down 1.31 per cent), Punjab National Bank (down 1.14 per cent) and Bank of India (down 1.13 per cent) were trading in the red.

State Bank of India (down 1.13 per cent), Union Bank of India (down

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Share market update: Nifty Pharma index up; Glenmark Pharma gains 4%
NEW DELHI: Pharma shares were trading higher in Thursday's morning session with their sectoral index trading up.

Shares of Glenmark Pharmaceuticals (up 3.84 per cent) , Piramal Enterprises (up 1.12 per cent) , Divi's Laboratories (up 1.02 per cent) and Aurobindo Pharma (up 0.69 per cent) were trading in the green.

Lupin (up 0.39 per cent) , Dr.

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Sensex rises 50 points, Nifty tests 11,600; IT, Infy lead gainers
NEW DELHI: Domestic equity market was trading higher in Friday's session, led by gains in index heavyweights Infosys and ITC. However, a mixed assembly election result capped gains. Moreover, traders also waited for any fresh directions on US-China trade talks and Brexit.

BSE benchmark Sensex was up 56 points at 39,076 while NSE flagship Nifty

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HCL Tech shares jump nearly 6% after Sept quarter earnings
Shares of HCL Technologies on Thursday jumped nearly 6 per cent after the company posted a 6.9 per cent rise in its consolidated net profit for the September quarter, and raised its revenue growth forecast.

The scrip jumped 5.87 per cent to Rs 1,160 on the BSE.

On the NSE, it advanced 5.83 per cent to Rs 1,159.

It was the top gainer on both the Sen

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Foreign brokerages bullish on L T post Q2 results; should you buy?
Global brokerages retained their bullish view on Larsen - Toubro (L-T) after the engineering and construction major on Wednesday posted a 6.83 per cent year-on-year (YoY) rise in net profit at Rs 2,770.43 crore for the quarter ended September 2019.

The scrip was trading 1.70 per cent higher at Rs 1,455.30 in the early trade, while the

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Stock market update: Sugar stocks advance; Rajshree Sugars gains over 3%
NEW DELHI: Sugar stocks were in the green in Friday's morning trade.

Shares of Rajshree Sugars - Chemicals (up 3.38 per cent), Dalmia Bharat Sugar - Industries (up 1.58 per cent), Balrampur Chini Mills (up 0.89 per cent), Dwarikesh Sugar Industries (up 0.80 per cent), Bajaj Hindustan (up 0.66 per cent) and Avadh Sugar (up 0.62 per cent)

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Larsen Toubro shares rise over 2% post Q2 results
Larsen - Toubro shares on Thursday gained over 2 per cent after the company posted over 13 per cent rise in its consolidated profit after tax for the quarter ended September.

Shares of the company gained 2.44 per cent to Rs 1,466 on the BSE.

On the NSE, the scrip rose 2.45 per cent to Rs 1,467.

The company on Wednesday posted over 13 per cent

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Stock market update: IT shares mixed; Tata Elxsi climbs 4%
NEW DELHI: IT shares were trading on a mixed note in Thursday's morning session.

Shares of Tata Elxsi (up 4.51 per cent) , HCL Technologies (up 3.00 per cent) , Tech Mahindra (up 2.16 per cent) and Infibeam Avenues (up 1.15 per cent) were trading with gains.

NIIT Technologies (down 1.72 per cent) , Mindtree (down 1.00 per cent) , Infosys (down

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