Nifty hovers around 8600 Railways ups freight rate, Idea up 6%

Railways increased freight rates by upto 19 percent. Star Cement said that will impact cement and freight rates. UltraTech Cement, ACC and JSW Steel declined over a percent.

Idea and Vodafone merger may breach 50 perncet market share in few circles and will create India’s largest telecom company.

Today Stock Market Update-Sai Proficient
            Today Stock Market Update-Sai Proficient

Regulatory approvals are crucial for Idea and Vodafone potential merger, say sources.
Vodafone India may not need to bring in its IPO if it seals a deal with Idea. Idea shares surged 5 percent.

Equity benchmarks extended losses amid consolidation in afternoon trade with the Nifty breaching 8600 level, dragged by ITC, L&T, ICICI Bank, HDFC and Reliance Industries.

The Sensex fell 85.51 points to 27900.03 and the Nifty slipped 37.20 points to 8591.95. About 1326 shares declined against 1211 advancing shares on the BSE.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s