Nestle India shares jump 7.5% after Maggi clears Singapore safety norms

 

New Delhi(Sharemasterindia.com): Shares of Nestle India Ltd rose as much as 9.75% to Rs.6,080 a piece on BSE on Tuesday, for the first time since 21 May, following media reports that Maggi has met safety standards in Singapore.

 

The Agri Food and Veterinary Authority of Singapore (AVA) on Monday said Maggi noodles produced in India are safe to eat, as food safety tests found that it does not pose risks to consumers, according to a report by The Straits Times, Singapore. 

 

RBI debt recast norms: Banks will be left holding the bag if no buyers for firms turn up

Sharemasterindia.com: The Reserve Bank of India (RBI) has permitted banks to take control of 51 percent of stake in a company that has failed to recover financial health even after a period of financial restructuring, typically due to management inefficiency or other factors.

This provision, part of the strategic debt restructuring exercise (SDR), is aimed at ensuring promoters of defaulted companies have more ‘skin in the game’. The RBI’s move is part of a coordinated action plan with markets regulator, Securities and exchange board of India (Sebi), which in March had allowed banks to convert part or full debt of listed defaulter companies into equity.

Nifty Falls for Seventh Day, Sensex Ends 42 Points Lower

Sharemasterindia.com 3:21 p.m.: Indian stock markets have notched up the unwanted distinction of being the worst-performing emerging market in US dollar terms over the last three months.

China on the other hand has seen the most gains during the period and has emerged as the best performer vis-a-vis other emerging markets.

3:11 p.m.: Vedanta, Hindalco, ICICI Bank, Tata Motors, Ambuja Cements, Tata Power and State Bank fo India among the top gainers on the Nifty.

Nifty Gainers/ Losers

 Nifty Gainers/ Losers
 

Gainers
Symbol	LTP	% chng	Volume
VEDL HINDALCO TATAPOWER ICICIBANK AMBUJACEM	182.60 120.25 72.35 286.85 225.65	3.13 1.73 1.33 1.31 1.17	48,74,063 44,48,011 26,36,400 1,67,30,434 15,76,678

 

Losers
Symbol	LTP	% chng	Volume
CAIRN CIPLA BOSCHLTD DRREDDY WIPRO	173.10 590.60 20,770.10 3,319.50 542.10	-4.29 -3.92 -3.04 -2.57 -2.32	36,32,396 17,22,348 24,114 1,88,470 11,23,017

Do visit for: NSE Top Gainers & Losers 

Day After Crash, Sun TV Rebounds Over 5%

Sharemasterindia.com: Sun TV shares bounced back on Tuesday after crashing 28 per cent yesterday on fears that the broadcast major may have to take off its 33 channels off air. Sun TV shares gained as much as 5.3 per cent and were among the top traded stocks in the BSE 500 index.

According to reports, the Ministry of Home Affairs has denied security clearance to billionaire Kalanithi Maran-promoted Sun TV. The speculation has led to uncertainty around the Sun TV's business, analysts say.

Cipla Shares Fall as Mylan Launches Asthma Inhaler in UK

 Sharemasterindia.com: Cipla shares fell as much as 2.85 per cent to hit intraday low of Rs 596.50 on Tuesday after the global pharma major Mylan launched generic MDI combination inhaler in United Kingdom on Monday.

Mylan launched generic MDI combination inhaler. The product is deemed bioequivalent to GSK's Seretide inhaler and this is the first generic version of GSK's Seretide Evohaler in UK.

Rupee Rises to 63.92 on Broad Dollar Weakness

Mumbai(Sharemasterindia.com): The rupee appreciated 16 paise to 63.92 against the US dollar in early trade at the Interbank Foreign Exchange today on fresh selling of the American currency by exporters and banks.

Besides, strengthening of the euro against the dollar in overseas market on solid German data supported the rupee, but a lower opening in the domestic equity market limited the gains, forex dealers said.

Vedanta Gains, Cairn India Slumps 5% on Reports of Merger Plans

 Sharemasterindia.com: Shares of Vedanta rose as much as 1.6 per cent to Rs 180 after reports said that the metal and mining company is considering a merger of its subsidiary Cairn India with itself.

Shares of oil exploration and production company Cairn India however fell 5.8 per cent at its day's low of Rs 170.

Live: Nifty Trades With a Negative Bias, Cairn India Top Loser

Sharemasterindia.com 11:00 a.m.: All the sectors facing the heat of selling pressure. Realty, healthcare, capital goods, auto and IT stocks among the worst hit.

10:43 a.m.: Technical analyst say that the Nifty has important support zone between 7,990-8,020 levels.

10:30 a.m.: Sensex slips 41 points to 26,482 and Nifty down 24 points at 8,020. Cairn India to loser on Nifty, down 4.45 per cent at Rs 172. Bosch, Cipla, Dr Reddy's Labs, Tech Mahindra and HCL Technologies also among the laggards.