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The Central Consumer Protection Authority passed an order on violation of consumer rights by Flipkart for allowing sale of sub standard pressure cookers.
CCPA directs Flipkart to recall 598 pressure cookers sold and reimburse their prices to the consumers.
Flipkart also directed to pay a penalty of Rs 1 lakh.
Source: PIB
The broader indices almost mirrored their larger peers. Barring S&P BSE Auto, all the other 18 sectoral indices compiled by BSE Ltd. advanced with Telecom index gaining 1.7%.
The market breadth is skewed in the favour of bulls. About 2,020 stocks rose, 1,275 fell and 154 remained unchanged.
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HDFC has demanded Ansal Housing repay its loans of Rs 13 crore with interest.
HDFC has said it will invoke and sell 66.83 lakh shares of Ansal Housing pledged with it if payment isn’t done within the specified time.
Source: Exchange filing
Bharti Airtel has paid its first instalment for 4 years of Rs 8,312.5 crore upfront.
Airtel said the payment, along with moratorium on spectrum dues and AGR related payments for four years, will free up future cash flows for 5G roll out.
Source: Exchange filing
The bond and forex markets were shut on Monday and Tuesday due to local holidays.
Source: Bloomberg
Ashok Leyland’s Hinduja Leyland Finance To Merge With NxtDigital
Bajaj Hindusthan Sugar Declines To 52-Week Low After SBI Initiates Insolvency Process
NTPC Gains On Report Of Talks To Sell Stake In Renewables SPV To Raise Funds
The broader indices outperformed their larger peers with both MidCap and SmallCap measures rising 0.5%. Barring S&P BSE Information Technology and Teck indices, all the other 17 sectoral indices compiled by BSE Ltd. advanced with power and utility gauges rising nearly 1%.
The market breadth is skewed in the favour of bulls. About 1,707 stocks rose, 634 fell and 102 remained unchanged.
Yield on the 10-year bond fell 8bps to 7.21% at the open.
Source: Bloomberg
Indian currency appreciated 40 paise (0.50%) to 79.26 at the open.
Source: Bloomberg
The merger of Hinduja Leyland Finance into NxtDigital has been approved by the latter’s board, subject to regulatory and shareholder approvals.
Shareholders of Hinduja Leyland will get 23 shares in NxtDigital for every 10 shares held by them.
There is no cash consideration in the deal.
Source: Exchange filing
U.S. Dollar Index at 106.4
U.S. 10-year bond yield at 2.81% on Tuesday
Brent crude up 0.2% to $92.5 per barrel
Nymex crude at $86.85 per barrel
SGX Nifty up 0.12% to 17,877.5 as of 6:18 a.m
Bitcoin down 0.01% to $23,982
Cipla: The company appointed Ashish Adukia as the Global Chief Financial Officer with effect from Aug. 16.
Bajaj Hindusthan Sugar: State Bank of India has initiated Insolvency Resolution Process of the company before the National Company Law Tribunal, Allahabad Bench.
Indoco Remedies: The company will acquire 26% stake in Jalansar Wind Energy Pvt., for setting up Solar Power Plant at Akkalkot, Solapur District, Maharashtra.
Techno Electric & Engineering: The company has received orders worth Rs 1,455 crore from Rajasthan Rajya Vidyut Utpadan Nigam
Bharti Airtel: To raise up to Rs 3,000 crore via commercial paper, reports Economic Times.
Dr. Reddy's, Sun Pharma: First Zantac Cancer Case Set For Trial Dropped After Settlements.
Max Healthcare: Singapore Government, BNP Paribas among buyers of Max Healthcare
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