Indian Share Market Live News and Tomorrow Tips

Nifty opens above 8550, Sensex firm; ITC up 1%, IT stocks down. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-7988-11-22.

•  The market has opened higher supported by firm global cues. The Sensex is up 60.51 points or 0.2 percent at 27976.40, and the Nifty up 16.85 points or 0.2 percent at 8582.70. About 308 shares have advanced, 98 shares declined, and 34 shares are unchanged.
•  Cipla, ITC, Bajaj Auto, Hero MotoCorp and ONGC are gainers while Dr Reddy's Labs, Infosys, TCS, BHEL and M&M are losers in the Sensex.
•  Advanced Enzyme Tech IPO subscribed 89% on Day 1
  The initial public offer of Advanced Enzyme Technologies was subscribed 89 percent on the first day of the 3-day bidding. The Rs 411.5-crore IPO received bids for 28,90,304 shares against the total issue size of 32,34,059, data available with the NSE till 1700 hours showed.
• British govt fund CDC to invest Rs 1,000 cr in IIFL Finance This investment makes a second coming for the UK government-owned development finance institution as the CDC Group was the first private equity investor in the IIFL Group in the late 1990s.
•  Nagaland to undertake coffee plantation on 50k hectares by 2030 Secretary to Government of Nagaland, Y Kikheto Sema said the state Department of Land Resources in sync with other line departments would be taking up massive coffee plantation drive in every district as the state has been declared geographically and topographically suitable for coffee by the Coffee Board.
•   Muted Q1: Nasscom says no cut in FY17 growth target of 10-12% Even as some large Indian IT companies have posted lower-than-expected June quarter numbers and issued muted sales outlook, Nasscom today said it sees no reason to cut industry's full year growth forecast of 10-12 per cent. 

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The market has opened green. The Sensex is up 74.35 points or 0.3 percent at 27882.49, and the Nifty is up 1.95 points at 8523. About 547 shares have advanced, 251 shares declined, and 33 shares are unchanged. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

     ONGC, Tata Steel, ICICI Bank, BHEL and Coal India are top gainers while Sun Pharma, Dr Reddy's, HUL, Maruti and L&T are down.
     The Indian rupee opened higher by 9 paise at 67.09 per dollar on Wednesday against previous close 67.18.

        Indiabulls Real Estate said that it has raised Rs 25 crore by issuing non-convertible debentures (NCDs).   Last month, the Mumbai-based company had announced that it proposed to raise up to Rs 200 crore through issue of NCDs on a private placement basis. So far, the company has raised Rs 131 crore in three tranches.
          Demand for luxury residential and commercial properties (in London)- the segments some Indian homebuilders have invested in - may remain weak at least over the coming 6 to 12 months as buyers postpone purchases and banks trim loans amid increased economic uncertainty," it said in a report.

Share of Ruchi Soya Industries plunged 8 percent intraday Wednesday as it has received a winding up notice from one of the creditors. The company has received a copy of winding up petition filed by one of its creditors before the Hon'ble High Court of Bombay.