Ola to invest Rs 350 crore in Haryana over 5 years

L&T Infotech IPO is set to open on July 11 and close on July 13. The company contributes about 8 percent of the consolidated revenue of the entire L&T business. CNBC-TV18's Kritika Saxena learns that this IPO kicks of a series of consolidations that the L&T group is looking at doing.  For more market news visit www.marketmagnify.com/stock-future-tips.php

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  Tata Motors, ICICI Bank, Dr Reddy's Labs, L&T and Sun Pharma are top gainers while GAIL and HDFC Bank are losers in the Sensex.

      Gold slipped below USD 1320 an ounce as buyers cashed in gains from the biggest two-day rally in the metal since late 2008 made last week.

     The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95.

     Taxi hailing app Ola has signed an agreement with Haryana government to create over 10,000 entrepreneurs in the state with an investment of Rs 350 crore over the period of five years, the company said today.

        The market breadth was positive as about four shares advanced for every share declining on Bombay Stock Exchange.  

        According to Angel Broking, Rupee is likely to trade sideways to positive as yesterday’s robust release of GDP and consumer confidence data from the US will keep the DX supported.

       Hybrid instruments include optionally convertible or partially convertible debentures, Foreign Currency Convertible Bonds - which are intrinsically debt-instruments.            The company has bought back 50,77,504 equity shares at an average price of Rs 3,090.92 per share. The company has thus deployed Rs 1,569.41 crore against the maximum buyback size, Dr Reddy's Laboratories said in a regulatory filing.

Equity Market Tips with Ashok Leyland Stock Price

Hinduja group flagship firm Ashok Leyland sold shares worth Rs 299 crore in IndusInd Bank through an open market transaction. 

The private sector lender is also part of the Hinduja group.

Ashok Leyland sold 32,63,923 shares or 0.55 percent stake in the bank through a bulk deal. The shares were offloaded at an average price of Rs 915.96, valuing the transaction at Rs 298.96 crore, as per the latest data available with NSE. 

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Ashok Leyland stock price: On March 29, 2016, at 10:07 hrs Ashok Leyland was quoting at Rs 105.40, up Rs 0.70, or 0.67 percent. The 52-week high of the share was Rs 107.40 and the 52-week low was Rs 63.85. 

The company's trailing 12-month (TTM) EPS was at Rs 3.07 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 34.33. The latest book value of the company is Rs 14.40 per share. At current value, the price-to-book value of the company is 7.32.

Stock Cash Tips: IDBI Bank surges 5%; TPG Capital eyes stake

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IDBI Bank stock was higher by 5% at Rs. 70. The government is planning to get  two large institutional investors to buy stake in state-run IDBI Bank, according to reports. Talks have been held with some players who showed interest, as per reports.

In his budget speech last month, Finance Minister Arun Jaitley said that the Government will consider ceding control of IDBI Bank and that it was willing to cut stake to less than 50% from 80.2%. 

The UK’s development finance institution CDC Group Plc and US private equity firm TPG Capital are also in talks with the Government to purchase stake in IDBI Bank, as per a financial daily.

The scrip opened at Rs. 69 and has touched a high and low of Rs. 71.2 and Rs. 68.6 respectively. So far 525912(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12758.86 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.7 on 03-Dec-2015 and a 52 week low of Rs. 47.4 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 67.65 and Rs. 63.65 respectively.

The stock is currently trading below its 200 DMA.