Sensex down 100 points; Infy, Wipro dip over 1%
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Markets continue to trade weak in the morning trades weighed by profit taking in Index heavyweights Infosys, HDFC twins and Pharma shares amid weak Asian cues.
At 10.12 AM, the 30-share Sensex is down 110 points at 26,981 and the 50-share Nifty has shed 41 points at 8,080.
In the broader markets, the BSE Mid-cap and Small-cap indices are outperforming the large counterparts and are up between 0.2-0.5%.
Market breadth is strong on the BSE with 1,253 advances and 917 declines.
Buzzing Stocks:
IT majors Infosys, Wipro and TCS are contributing nearly 50 points to the decline on the 30-share Sensex and are down between 0.5-1.5%.
Bharti Infratel has dipped over 4% to Rs 299 on National Stock Exchange on media reports that private equity fund Kohlberg Kravis Roberts and Co. (KKR) is planning to sale its entire stake in telecom tower firm.
Suzlon Energy is locked in lower circuit for the second straight day, down 10% at Rs 18.35 on National Stock Exchange, after fresh equity shares following the conversion of the company's foreign currency convertible bonds (FCCBs) began to trade from Friday, September 19, 2014.
Hotel Leela Venture has dipped nearly 7% to Rs 22.05 in early morning deals on NSE on reports that the company it has not been able to pay Rs 22.50 crore as the first installment for servicing a debt to state-owned life insurer LIC and is seeking more time for repayment.
Other Latest News
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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