Stock Market News - DHFL Jumps 11%, Oil prices edge up, Nifty reclaims 11,000

Europe Market Check: Equities Gain Losses in European stocks slowed, with investors weighing the biggest back-to-back decline in equities since 2016 as they awaited fresh developments in the U.S.-China trade conflict.

DHFL Jumps 11% After Company Releases Details Of Draft Resolution Plan Shares of Dewan Housing Finance Corporation rose as much as 11.1 percent to 46.60. The company’s special panel has approved a draft proposal on the resolution of the Mumbai-based non-banking lender’s debts after holding consultations with financial adviser Ernst & Young, according to an exchange filing.

Titan Q1 Profit Misses Estimates Shares of Titan pared losses and rose as much as 2.6 percent to Rs 1,063.60 after the company announced its quarterly results.

India’s July gold imports hit 3-year low on record prices - India’s gold imports in July plunged 55% from a year ago to the lowest level in three years as a rally in local prices to a record high and a hike in import taxes curtailed demand, a government source said on Monday.

Lower purchases by the world’s second-biggest consumer could cap gains in global prices that jumped to the highest level in over 6-years on Monday but help the south Asian country in bringing down the trade deficit and supporting the rupee.

Oil prices edge up but US-China trade war drags - Oil prices edged up on Tuesday but remained under pressure as the escalating U.S.-China trade war stoked concerns over global economic growth and future demand for crude. Brent crude futures had risen 10 cents, or 0.17%, to $59.91 a barrel by 0149 GMT after earlier dipping to their lowest since mid-January at $59.07.

Pidilite Industries gains 4% on good Q1 results, stock hits an all-time high - Shares of Pidilite Industries hit an all-time high of Rs 1,324, up 4 percent intraday on the BSE on Tuesday after the company reported a better-than-expected 22 percent jump in consolidated net profit at Rs 294 crore in June quarter (Q1FY20), on strong volume growth. The company had a profit of Rs 241 crore in the year-ago quarter. 

Arvind Ltd slips over 4% post Q1 results announcement

- Net profit slips 59% YoY to Rs 24.39 crore; 

- Revenue rises 5% YoY to Rs 1,896.45 crore 

Zee Entertainment slips 25% in seven days, trades near a 52-week low - Shares of Zee Entertainment Enterprises (ZEEL) were trading lower for the seventh straight session on Tuesday. The stock slipped 8 percent to Rs 305 on the BSE in the intra-day trade in an otherwise firm market. 

Rupee trades flat: The Indian rupee is trading flat at 70.75 per dollar versus previous close 70.73.

Nifty reclaims 11,000: Benchmark indices are trading at day's high level with Nifty reclaimed 11,000 on the back of buying seen in the infra, auto, bank, metal, and pharma.

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