Share Market highlights: Sensex ends 175 points higher; Tata Motors, Yes Bank top gainers

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Updated:Dec 04, 2019 3:49:05 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The 30-share Sensex closed higher on Wednesday, backed by a strong rally in index heavyweights.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Stock Market Live In Hindi, शेयर बाजार, स्टॉक मार्केट, Indian Share Market Live, Indian Stock Market LiveYes Bank share price fell by more than 4.50% to hit the day’s low at Rs 57.50 on BSE.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The 30-share Sensex closed higher on Wednesday, backed by a strong rally in index heavyweights. The Sensex closed 176 points higher at 40,850.29, while the Nifty closed near the 12,050-mark. Tata Motors, Yes Bank, ICICI Bank, VEDL emerged among the biggest gainers in Sensex, jumping up to 8%. After a blockbuster response to its IPO, CSB Bank shares closed 54% higher at Rs 300.10 on BSE. CSB Bank IPO had turned out to be a mega hit, after the Rs 410 crore public offer got oversubscribed by more than 86.89 times on the last day of issue. According to analysts, the issue could list at a steep premium. “CSB Bank is expected to list at a premium given the high demand for the issue,” Mona Khetan, banking analyst, Reliance Securities told Financial Express Online. Astha Jain, Sr Research Analyst at HEM Securities expect CSB bank to list at premium anywhere between Rs 55-65  over final issue price of Rs 195 per share. We bring to you highlights.

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Highlights

    15:49 (IST)04 Dec 2019
    BSE live: Sensex ends 175 points higher; Tata Motors, Yes Bank top gainers

    The 30-share Sensex closed higher on Wednesday, backed by a strong rally in index heavyweights. The Sensex closed 176 points higher at 40,850.29, while the Nifty closed near the 12,050-mark. Tata Motors, Yes Bank, ICICI Bank, VEDL emerged among the biggest gainers in Sensex, jumping up to 8%. A look at LIVE Sensex heatmap.

    15:11 (IST)04 Dec 2019
    Why blocked our GST compensation, states’ finance ministers ask Nirmala Sitharaman

    The finance ministers and other representatives from different states on Wednesday met finance minister Nirmala Sitharaman on several issues including GST compensation. The meeting comes at a time when various states are complaining that the central government has delayed compensating states for a shortfall in the GST revenues for August-September. The payment for the period was due in the month of October. Speaking to reporters after the meeting, Delhi finance minister Manish Sisodia said that the meeting was held with the union finance minister Nirmala Sitharaman to discuss why the centre has blocked states’ GST compensation.

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    15:10 (IST)04 Dec 2019
    India’s largest private life insurer teams up with startups to secure its own future

    Life insurance company HDFC Life is seeking startups support to create new solutions around multiple areas. HDFC had tied-up with venture capital fund IvyCap Ventures’ networking platform IvyCamp earlier this year to pick startups under the first phase of the programme Futurance — its short term corporate engagement programme. For the second phase, the programme is looking at startups in areas including health monitoring and diagnostic solutions for assessing future medical conditions, behavioural science tools for employees and customers, sales, and alternate data sources, the company said.

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    13:47 (IST)04 Dec 2019
    Here’s Bharat Bond ETF price, and how it will be taxed; how to buy India’s first PSU debt ETF

    With the launch of ‘India’s first corporate bond ETF, retail investors will have an opportunity to invest in quality PSU debt for as low as Rs 1,000. “We are giving the retail investor an option to earn more than the fixed deposit rate, and also participate in the development of the country. Bharat bond ETF will be the first corporate bond ETF in the country,” FM Nirmala Sitharaman said in a press briefing. The FM explained that each bond ETF will be priced at Rs 1,000 per unit. The bond ETF will also be listed on the exchanges. Accordingly, investors can buy or sell shares using three methods– via stock exchange, through the market makers or directly through the AMC.

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    12:47 (IST)04 Dec 2019
    India's first PSU bond ETF soon: Bharat Bond gets cabinet OK; check yield, companies, other details

    The much-awaited launch of Bharat Bond ETF received Cabinet Approval on Wednesday. The ETF (Exchange traded fund) is set to be launched in mid-December. Touted as "India's first corporate bond ETF," Bharat Bond ETF will only hold bonds issued by public sector undertaking (PSUs). "We are delighted that the Union Cabinet has approved Bharat Bond ETF, India’s first corporate bond ETF for launch. We at @EdelweissAMC are delighted to bring an exciting new product for fixed income investors to the market," Radhika Gupta, CEO of Edelweiss AMC said on Twitter. According to Zerodha, Bharat Bond ETF will only hold bonds with AAA credit rating issued state-owned owned companies including REC, PFC, NHAI, National Thermal Power Corporation, Nabard, Exim Bank, Nuclear Power Corporation, and Power Grid among others.

    11:48 (IST)04 Dec 2019
    Nirav Modi’s PNB scam gets bigger: Fraudlent LoUs worth this much more discovered

    Almost two years after the Punjab National Bank (PNB) reported the scandal involving diamantaire Nirav Modi, an exhaustive forensic audit commissioned by the bank has come to light, revealing the depth and extent of the rot and the ease with which fraudulent practices were carried out systematically by his chain of companies, remaining undetected for years. Belgian auditor BDO, commissioned by PNB in February 2018, days after it complained to the CBI, looked at information supplied until June 2018 and found that a total of 1,561 Letters of Undertaking (LoUs), valued at Rs 28,000 crore, were issued by PNB to the Nirav Modi group.

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    10:28 (IST)04 Dec 2019
    CSB Bank shares soar post listing after blockbuster IPO; up 54% from issue price

    After a blockbuster response to its IPO, CSB Bank shares listed at 41% premium to issue price on Wednesday morning. CSB Bank shares soared after making a debut to Rs 299 on NSE, or 54% higher as compared to the issue price of Rs 195. CSB Bank IPO had seen strong subscription across the segments. Retail investors bid for a total of 9.20 crore shares as against the 20.29 lakh shares reserved for them, implying a demand of more than 44 times. The non-institutional investors (NII) portion saw the highest demand, with thir portion being subscribed 165 times. The QIBs bid for a total of 39.18 crore, as against the 63 lakh shares reserved in this category, implying a subscription of 165 times. The IPO had concluded on November 29th.

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    09:47 (IST)04 Dec 2019
    Telcos propose Trai to regulate data tariff by fixing minimum price

    Telecom operators have proposed sector regulator Trai to fix a minimum price for mobile internet as no company on its own is in a position to decide on it due to fierce competition in the market, industry body COAI said on Tuesday. The Cellular Operators Association of India (COAI), in a letter to the Telecom Regulatory Authority of India (Trai), said that Reliance Jio, Bharti Airtel and Vodafone Idea have agreed that the data tariffs should be regulated, a move which was vehemently opposed by the industry players in the past. However, private telecom operators want call rates to continue to remain unregulated.

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    09:33 (IST)04 Dec 2019
    HDFC AMC OFS opens: Standard Life to offload stake; check price, other details

    HDFC AMC OFS opens for subscription tomorrow, in which Standard Life looks to offload some stake. Standard Life will sell 1.81% stake in HDFC AMC on the two dates. Notably, Rs 3,170 has been set as the floor price for the issue. HDFC AMC shares closed 1.35% higher at Rs 3,441.45 on BSE. In the quarter ended September-19, HDFC Asset Management Company (AMC) reported a 79% jump in profit after tax at Rs 368.3 crore. In comparison, the fund house had posted a profit after tax (PAT) of Rs 205.9 crore in the year-ago period, HDFC AMC. The firm’s total income rose by 7% to Rs 549 crore in July-September quarter of the ongoing fiscal from Rs 515.3 crore in the same period last fiscal. 

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    09:32 (IST)04 Dec 2019
    CSB Bank shares to debut after stellar IPO: Listing day strategy for investors

    After a blockbuster response to its IPO, CSB Bank shares will list on the exchanges tomorrow. CSB Bank IPO had turned out to be a mega hit, after the Rs 410 crore public offer got oversubscribed by more than 86.89 times on the last day of issue. According to analysts, the issue could list at a steep premium. “CSB Bank is expected to list at a premium given the high demand for the issue,” Mona Khetan, banking analyst, Reliance Securities told Financial Express Online. Astha Jain, Sr Research Analyst at HEM Securities expect CSB bank to list at premium anywhere between Rs 55-65  over final issue price of Rs 195 per share. 

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