Jaiprakash Denies Repayment Default Rumour After Shares Fall

Mumbai(Sharemasterindia.com): Infrastructure firm Jaiprakash Associates Ltd said a sharp plunge in the share price of group companies on Wednesday was not related to the performance of the company or any action from its lenders.

The company said it "categorically denied" rumours related to a share revocation and defaults in repayment obligations, which caused shares in the parent company to plunge as much as 32 per cent.

Nifty Gainers/ Losers

Nifty Gainers/ Losers 

Gainers
Symbol	LTP	% chng	Volume
IDEA INFY COALINDIA BHARTIARTL NTPC	176.10 2,027.45 387.00 421.65 139.00	2.12 0.94 0.91 0.85 0.76	60,23,580 13,41,688 41,08,111 35,65,580 67,16,485

Losers
Symbol	LTP	% chng	Volume
TATAPOWER BOSCHLTD CAIRN ONGC GAIL	70.15 21,714.05 186.40 307.65 375.35	-6.53 -4.53 -3.97 -3.95 -3.51	58,09,499 25,102 25,81,557 32,62,017 9,64,651

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Why Adani Enterprises Shares Crashed 82% Today

Sharemasterindia.com: Adani Enterprises crashed 82 per cent to an intraday low of Rs 115.25 on Wednesday as its share price was adjusted for demerger of its port, power and transmission businesses. June 4 is the record date for demerger.
 
Adani Enterprises had earlier announced the hiving off of these businesses into separate companies. Under a corporate restructuring, Adani Enterprises demerged its ports business into Adani Ports following which shareholders of Adani Enterprises will get 14.123 shares of Adani Port for every 10 share held in Adani Enterprises.

BHEL Gains on Largest-Ever Order Win

Sharemasterindia.com: BHEL on Wednesday gained nearly 2 per cent to Rs 255.30, a day after it said that the company had bagged its largest ever order.

BHEL won an order worth Rs 17,950 crore from the Telangana State Power Generation Corp (TSGENCO) to set up a 4,000 MW plant at Yadadri.

Dollar Mauled as Euro Leads Vicious Short Squeeze

Sydney(Sharemasterindia.com): The US dollar was broadly lower on Wednesday as hopes for progress in Greek debt talks and a huge spike in European yields combined to give the euro its biggest gain in three months.

The dollar index, which measures it against a basket of six major currencies, was down at 95.943 having shed 1.5 per cent on Tuesday in its biggest one-day drop since July 2013.

The euro was enjoying the view at $1.01150, having climbed 2 per cent overnight, while the dollar lapsed back to 124.08 yen and away from a 12-1/2-year peak of 125.070.

Gold Under Pressure Despite Softer Dollar as Fund Outflows Weigh

 

Singapore(Sharemasterindia.com): Gold eased on Wednesday even as the dollar nursed sharp losses on expectations of a Greek debt deal, with investor sentiment remaining bearish due to outflows from bullion-backed funds.

Spot gold slipped 0.2 per cent to $1,191.40 an ounce by 0323 GMT (8:53 a.m. in India), after gaining 0.4 per cent on Tuesday.

Traders said gold's overnight jump was underwhelming given the sharp drop in dollar and weak US factory data, which should have typically triggered strong safe-have bids.

Sensex, Nifty to Open Lower; State Bank of India in Focus

Sharemasterindia.com: Nifty is likely to open lower in trades on Wednesday tracking subdued trading of Nifty on the Singapore Stock Exchange.

The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty was down 0.29 per cent or 24 points at 8,204 levels.