RPower tumbles 1%; Coal Min issues show cause notice

The ministry also issued the same notice to Jharkhand Ispat in the same regards.

Anil Mabani-led Reliance Power is trading 0.86% down at Rs.51.60 on BSE after the Coal Ministry issued a show cause notice to to the company for Kerandari coal block.

The Ministry also issued the same notice to Jharkhand Ispat in the same regards.

The scrip opened at Rs. 52.1 and has touched a high and low of Rs. 52.45 and Rs. 51.5 respectively. So far 1439699(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 14600.68 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 61.4 on 12-Jan-2016 and a 52 week low of Rs. 33.05 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 53.65 and Rs. 51.35 respectively.

The promoters holding in the company stood at 74.98 % while Institutions and Non-Institutions held 10.48 % and 14.21 % respectively.

The stock is currently trading above its 50 DMA

No auction of coal mines In 2-3 Months: Anil Swarup

Coal secretary added that at present there are no plans for opening up the sector to private parties.

Government today said there would be no auction of coal blocks for at least next two to three months as at present there are not many takers of mines.

“I don’t see auction of coal blocks in the near future at least in the next two to three months….We feel that this may be not the right time for going ahead with auctioning of mines because there are not many takers of coal,” Coal Secretary Anil Swarup reportedly said.

Coal secretary added that at present there are no plans for opening up the sector to private parties.

The framework of commercial mining has been prepared by the coal ministry, Anil Swarup said.

Tata Motors drops 1.4%

Jaguar Land Rover, Britain’s biggest carmaker, estimates its annual profit could be cut by 1 billion pounds ($1.47 billion) by the end of the decade if Britain leaves the European Union, as per media reports.

Tata Motors dropped 1.4% to Rs.447.60 on BSE. Jaguar Land Rover, Britain’s biggest carmaker, estimates its annual profit could be cut by 1 billion pounds ($1.47 billion) by the end of the decade if Britain leaves the European Union, as per media reports.

The scrip opened at Rs. 483.9 and has touched a high and low of Rs. 484.7 and Rs. 476.4 respectively. So far 1068299(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 156496.39 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 486.15 on 21-Jun-2016 and a 52 week low of Rs. 266 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 486.15 and Rs. 446.25 respectively.

The promoters holding in the company stood at 33.01 % while Institutions and Non-Institutions held 41.3 % and 25.69 % respectively.

ITC slips 1%; YC Deveshwar to step down

ITC Chief YC Deveshwar to step down as Executive Chairman from Feb 2017.

ITC stock was lower by 1% at Rs. 356. ITC Chief YC Deveshwar to step down as Executive Chairman from Feb 2017.

The scrip opened at Rs. 0 and touched a high and low of Rs. 0 and Rs. 0 respectively. A total of 4438259(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 288532.61 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 365 on 08-Jun-2016 and a 52 week low of Rs. 268 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 360.9 and Rs. 351.2 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.62 % and 44.16 % respectively.

The stock traded above its 50 DMA.

Live Stock Market Updates - Nifty trades above 8,200 mark

Some buying activity is seen in realty, consumer durables, banking, pharma and power sectors, while IT, telecom, FMCG, auto, teck and industrial sectors are showing weakness on BSE. The BSE Mid-cap Index is trading up 0.27% at 11,449, whereas BSE Small-cap Index is trading up 0.29% at 11,553.

 At 9:38AM, the S&P BSE Sensex is trading at 26,834 up 21 points, while NSE Nifty is trading at 8,224 up mere four points.

The BSE Mid-cap Index is trading up 0.36% at 11,459, whereas BSE Small-cap Index is trading up 0.32% at 11,557.

Dr.Reddy's, ICICI Bank, M&M, Cipla, Asian Paints, ONGC, SBI and Sun Pharma are among the gainers, whereas Tata Motors, HUL, Tata Steel, RIL, HDFC and ITC are losing sheen on BSE.

Some buying activity is seen in realty, consumer durables, banking, pharma and power sectors, while IT, telecom, FMCG, auto, teck and industrial sectors are showing weakness on BSE.

The INDIA VIX is up 1.30% at 17.4850. Out of 1,789 stocks traded on the NSE, 863 declined, 517 advanced and 409 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 9 paise at 67.59/$ against US Dollar on Wednesday as against the previous close of 67.48/$.

Federal Reserve Chair Janet Yellen was optimistic about the economy and played down the risk of a recession. She also added that the UK's vote on EU membership and a potential economic slowdown in China had raised concerns about the strength of the global economy. Meanwhile, ECB President Mario Draghi said ECB was ready for all contingencies in case of Brexit.

Asian market​s​ are trading on a mixed note. Nikkei 225 and Hang Seng ​are ​trading down. Shanghai Composite gained 0.5%.

US stocks closed higher on Tuesday. The Dow Jones industrial average rose 24.86 points, or 0.14%, the S&P 500 gained 5.65 points, or 0.27%.The Nasdaq Composite added 6.55 points, or 0.14%. Market participants are cautious ahead of the UK referendum ​scheduled ​on Thursday.

Coal Secretary Anil Swarup will give speech at the 8th India Coal Summit in New Delhi.

Nikesh Arora has resigned from SoftBank Group Corp.Report says that founder, chairman and CEO Masayoshi Son, who had been expected to step down after turning 60 next year, said he will remain at the helm.

Top 13 stocks in focus:IDBI Bank, Yes Bank, Tata Power

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Tata Power: Tata Power Renewable Energy has bagged 30 mw solar grid connected photovoltaic project in Maharashtra.

Bajaj Finance Limited: tHE COMPANY announced its unique partnership with Future Group, India’s leading retail group to enable and empower customers to convert all their purchases from any of the Future Group brands into easy EMIs, thus ushering in a digital era of smart purchase.

IDBI Bank: The bank is seeking approval from shareholders to raise Rs.8,000 crore.

Kesar Terminals & Infrastructure Ltd: The company has announced that a meeting of the Board of Directors of the company will be held on June 24, 2016, inter alia, to consider issue of bonus shares.

Entertainment Network: The parent company said it will be investing $100 million in marketing technology platform Columbia, as per media reports.

Take Solutions: The company is planning to sell its supply chain management business to focus more on life sciences sector, says report.

Godawari Power & Ispat: The company suspended mining operations at Rajnandgaon in Chhattisgarh due to labour unrest, says report.

Kwality Ltd: The Board of Directors of the Company will be held on June 24, 2016, inter alia, to raise funds upto Rs. 300 crore by way of term loan and issue of Non-Convertible Debentures.

Bank of India: The bank has announced that upon change in law, Bank of India has sold its 18% stake in Star Union Dai-lchi Life Insurance Company Ltd (SUD) to Dai-ichi Life Insurace Company Limited (DILIC).

Muthoot Finance: The company announced the completion of acquiring its insurance broking arm.  

Siti Cable Network: The company said in a notice to BSE that its promoters to hike stake in the company by up to 3.67% and buying of shares will start on 27 June.

Mandhana Industries hit 20% lower circuit on BSE today after it was reported that the company will demerge its retail operations into Mandhana Retail Ventures.

YES Bank: The bank is planning to raise  $1 billion from international markets, according to reports.