X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Trades Lower; Gruh Finance Slips on Block Deal
Fri, 14 Jun 12:30 pm | Rini Mehta, TM Team

Stock markets in India are presently trading on a negative note. The BSE Sensex is trading down by 291 points and the NSE Nifty is trading down by 68 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.5% and 0.3% respectively.

Among the sectoral indices, healthcare stocks, telecom and realty stocks are witnessing maximum selling pressure. Capital goods and power stocks are trading in green.

In the news from the NBFC sector. Gruh Finance share price slipped 8% on the BSE in early morning trade after the promoter Housing Development Finance Corporation (HDFC) sold more than 4% of the company's paid-up capital in the open market.

Earlier, on May 25, the housing finance company had sold 32.6 million equity shares, representing 4.4% of the paid-up capital of Gruh Finance at price of Rs 310 per share.

While on March 28, HDFC had sold 12.2 million shares of Gruh Finance at a price of Rs 260 per share.

Reportedly, HDFC being a shareholder of Gruh Finance is entitled to 14.96% of post-amalgamation paid-up capital of Bandhan Bank, based on the share exchange ratio.

However, the Reserve Bank of India (RBI) has directed the Corporation to hold 9.9% or less of the paid-up capital of Bandhan, post the merger.

--- Advertisement ---
50 Reasons Why Regular Folks Could Get Rich In Modi 2.0 And Beyond… (FREE Book)

The Secrets Identifying  10X StocksThe convergence of multiple economic forces has created a opportunity where regular folks could become super rich in Modi 2.0 and beyond.

So to guide you in profiting from it, our Co-Head of research Tanushree has revealed the full details in her book titled, "50 Reasons Why The Rebirth of India Is Inevitable".

This book is currently selling for Rs 1,950 on Amazon. But by acting fast, you could get a copy delivered to your address in India for virtually FREE.

More than 1,000 copies of this hardbound book have been claimed already.

Click here to find out how to grab your virtually FREE copy now…
------------------------------

In view of this, HDFC is required to sell such number of shares in Gruh Finance so as to be entitled to 9.9% of the post amalgamation paid up capital of Bandhan.

Moving on to the news from the pharma sector. Dr. Reddy's Laboratories has entered into a definitive asset purchase agreement with Upsher-Smith Laboratories, LLC (Upsher-Smith).

As per the scheme, the company would sell its US and select territory rights for Zembrace Symtouch (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg, (formerly referred to as 'DFN-02'), which are commercialized through its wholly owned subsidiary, Promius Pharma, LLC.

Under the agreement, the company will receive US$70 million as upfront consideration, US$40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory.

Subsequently, the company will receive sales-based royalties on a quarterly basis, the reports noted.

To know more about the company, you can access to Dr. Reddy's Q3FY19 result analysis and Dr. Reddy's Stock Analysis on our website.

At the time of writing, Dr. Reddy's Lab share price was trading down by 0.7%.

Here's an interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Profit Opportunities in the Rebirth of India

Profit Opportunities in the Rebirth of India

Co-head of Research, Tanushree Banerjee believes, the opportunities in the Rebirth of India are not only more profitable than the ones in 1991 but the gains could come faster too.

Tanushree has explained this historic opportunity in detail at the Rebirth of India summit

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Sensex Trades Lower; Gruh Finance Slips on Block Deal". Click here!

  

Stock Market Updates

Indian Indices Open Lower; IT & FMCG Stocks Drag (Today's Market)

Jun 25, 2019 09:30 am

Indian share markets open on a negative note with Sensex down by 133 points, while the NSE Nifty is trading lower by 45 points.

IRB INFRA. Plunges by 6%; BSE REALTY Index Up 0.3% (Today's Market)

Jun 25, 2019 09:36 AM

IRB INFRA. share price has plunged by 6% and its current market price is Rs 100. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are OBEROI REALTY (up 2.2%) and GODREJ PROPERTIES (up 1.0%). The top losers is IRB INFRA. (down 6.3%)..

GAYATRI PROJECTS Plunges by 9%; BSE REALTY Index Up 0.3% (Today's Market)

Jun 25, 2019 09:36 AM

GAYATRI PROJECTS share price has plunged by 9% and its current market price is Rs 145. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are OBEROI REALTY (up 2.2%) and GODREJ PROPERTIES (up 1.0%). The top losers is GAYATRI PROJECTS (down 8.5%)..

RELIANCE POWER Plunges by 5%; BSE POWER Index Up 0.2% (Today's Market)

Jun 25, 2019 09:22 AM

RELIANCE POWER share price has plunged by 5% and its current market price is Rs 5. The BSE POWER is up by 0.2%. The top gainers in the BSE POWER Index are SUZLON ENERGY (up 4.0%) and KALPATARU POWER (up 3.4%). The top losers is RELIANCE POWER (down 5.4%)..

Indian Indices End Flat, Crude Oil Continues Momentum, and Top Cues in Focus Today (Today's Market)

Jun 25, 2019 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

7 Stocks That Will Remain Evergreen in this Era of Technological Disruption(The 5 Minute Wrapup)

Jun 13, 2019

We are living in an era of disruption. Are your stocks well equipped to adapt to changes that disruption will bring along?

Kenneth Andrade Would Like Our Real Estate Stock Recommendation with Triple Digit Upside(The 5 Minute Wrapup)

Jun 12, 2019

This real estate stock recommended in Smart Money Secrets offers the most favourable upside potential.

Why I Believe Smallcaps Will Catch up to the Sensex(Profit Hunter)

Jun 14, 2019

Smallcaps have gone nowhere even as the Sensex makes new all-time highs. Find out why Richa believes this a good opportunity to invest in smallcaps.

Why Super Investor Kenneth Andrade is Bullish on Agri Stocks...and So Are We(The 5 Minute Wrapup)

Jun 21, 2019

Andrade gives his take on agriculture, an industry from which we have already recommended two stocks.

7 Bluechips to Profit from Tech Disruption(Profit Hunter)

Jun 17, 2019

We are living in an era of disruption. Are your stocks well equipped to adapt to changes that disruption will bring along?

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jun 25, 2019 01:19 PM

MARKET STATS