CORPORATE NEWS 31-DEC-2018

RBI's deadline for Kotak promoter stake dilution today Shares of Kotak Bank ended ~1% higher on Monday with the Reserve Bank of Indias (RBI) deadline to reduce promoter stake in the bank being today. As per the central bank's guidelines for new banks, Kotak Mahindra Bank was required to bring down promoter holding to 20% by December 31, 2018. Besides, the RBI requires the shareholding to fall to 15% by 2020 to reduce the promoters control over the bank, media reports said. Marico slips on report Govt hikes MSP for Copra Shares of...

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MARKET WRAP UP.

Closing Bell: Sensex ends 2018 on a flat note, Nifty below 10,900; midcaps outperform. Its a rather sombre end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.  At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or...

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CS OPENING BELL 31-DEC-2018

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Nifty likely to open higher 31-DEC-2018

Indian Indices: Nifty has been flirting to its 50-DEMA from last 38 trading sessions and got stuck in a broader trading range with crucial hurdle at 10950-10985 zones. Global Market:  Asian markets: Shares in Hong Kong are higher today as the Hang Seng gains 1.60%. The stock markets in Tokyo and Shanghai are closed at this time.  US Markets: U.S. Stock Futures Rally After Trump-Xi `Big Progress' Phonecall.   European markets: European markets closed sharply higher on Friday with shares in London leading the region....

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CORPORATE NEWS 28-DEC-2018

Government to infuse Rs28,615cr in 7 PSU Banks The government is likely to inject Rs28,615cr fund in seven public sector undertaking (PSU) banks, as per media reports. As per the report, the seven banks are Central Bank of India, United Bank of India, UCO Bank, Bank of India, Bank of Maharashtra, Oriental Bank of Commerce (OBC), and Syndicate Bank. Accordingly, the government is likely to infuse Rs10, 086cr in Bank of India and Rs1,678cr in Central Bank of India. Similarly, United Bank of India will get a capital infusion of Rs2, 159cr,...

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MARKET WRAP UP 28-DEC-2018

Closing Bell: Nifty kicks off January series above 10,850; Sensex up 269 pts; Nifty Pharma surges.Its a consecutive session of positive close for the market on Friday. The Nifty has kicked off January series on a strong note, ending above 10,850-mark. Strong global cues, weaker crude as well as strengthening rupee were some of the primary factors behind the markets rally.  At the close of market hours, the Sensex was up 269.44 points or 0.75% at 36076.72, while the Nifty was higher by 80.10 points or 0.74% at 10859.90. The market...

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CS OPENING BELL 28-DEC-2018

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