Closing Bell: Sensex ends flat, Nifty in the green at 11914, Yes Bank tanks 13.4%, IndusInd Bank 4.5%

Indiabulls Housing Finance gains 12%, ZEEL shares up 3%##Indiabulls Housing Finance gains 12%, ZEEL shares up 3%

Yes Bank slips to a 5-year low after UBS cuts target price to Rs 90 per share##Yes Bank slips to a 5-year low after UBS cuts target price to Rs 90 per share

Market recovers in the last hour to close flat##Market recovers in the last hour to close flat

Closing Bell: Market ends flat, Sensex in the red, Nifty at 11914, Yes Bank dips 13.4%##Closing Bell: Market ends flat, Sensex in the red, Nifty at 11914, Yes Bank dips 13.4%

Indian shares recovered to end flat on Thursday as HDFC twins and Kotak Mahindra Bank supported indices cut losses. The Sensex settled 15.45 points lower, or 0.04 percent, at 39,741.36 at close, while the Nifty50 ended in the green at 11,914.05, up by 7.85 points, or 0.07 percent. The Nifty MidCap ended 0.24 percent lower, while Bank Nifty ended flat in the green. Among sectoral indexes, 22 advanced with the Nifty Media gaining the most over a percent. Nifty PSU Banks declined the most by over a percent among 21 falling sectors. Among Nifty gainers, Indiabulls Housing Finance recovered to settle at 12 percent higher after a plea in the Supreme Court against the NBFC was withdrawan today. ZEEL shares surged 3 percent, while BPCL, Grasim and Kotak Bank gained between 1 and 2 percent. Yes Bank performed the worst among Nifty50 stocks, tanking 13.5 percent, while IndusInd Bank slightly recovered to end at 4.62 percent. UPL, IOC and Maruti declined between 1 and 2 percent.

CEAT hits over-2-year low on demand outlook concerns##CEAT hits over-2-year low on demand outlook concerns

Shares of CEAT fell nearly 4 percent to a more than two-year low of Rs 920.60 due to concerns over demand outlook after brokerage Deutsche Bank reportedly said near-term demand outlook for the company remains muted. The company expects demand recovery in the two-wheeler and commercial vehicle segments after the June. Raw material costs for CEAT are expected to remain benign in the near term. The brokerage firm has retained its "hold" rating on the stock with a target price of Rs 1,050. The stock has net fallen 29 percent this year so far. 

Mishra Dhatu Nigam bags order, shares up 4%##Mishra Dhatu Nigam bags order, shares up 4%

Mishra Dhatu Nigam has secured one order worth about Rs 197 crore. The cumulative order book position of the company as on date is about Rs 1900 crore. Shares quoted at Rs 130.10, up 3.87 percent on NSE at 3.02 pm. Meanwhile, the Nifty50 traded lower by 10 points, or 0.08 percent, at 11,896.35. The BSE Sensex was lower by 27 points trading at 39,730.

These are the top 10 NSE gainers on June 13##These are the top 10 NSE gainers on June 13

Sakuma Exports Limited's shares rose about 6.24 percent to trade at Rs 24.7 per share in the afternoon session on Thursday.

Goldiam International Limited's shares climbed about 6.46 percent, trading at Rs 117 per share on the NSE. READ MORE

Tata Sponge: Record date for rights issue set at June 25##Tata Sponge: Record date for rights issue set at June 25

Cement stocks under pressure after Nomura downgrades Ambuja, ACC and Shree Cement##Cement stocks under pressure after Nomura downgrades Ambuja, ACC and Shree Cement

Shares of major cement companies were under pressure on Thursday after Nomura downgraded Ambuja Cements, ACC, and Shree Cement to 'neutral' from 'buy'. The brokerage also revised the target price of the three stocks. While it raised the 12-month target of Shree Cement and ACC, Nomura slashed the target price of Ambuja Cements. READ MORE

These are the top retail stocks recommended by Motilal Oswal after Q4 earnings##These are the top retail stocks recommended by Motilal Oswal after Q4 earnings

Aditya Birla Fashion and Retail: TP- Rs 240 per share

The stock has gained over 5 percent in 2019 and nearly 55 percent in the last one year. “We ascribe 23x FY21 EBITDA of INR6.4b for the lifestyle segment given its strong brand value. We expect Pantaloons to drive earnings growth for ABFRL and ascribe 18x FY21 EBITDA of INR3.7b for this segment. We ascribe 1x FY21 sales for the fast-fashion and other businesses. This implies ~10 percent premium to the target EV/EBITDA multiple for our apparel coverage,” it said. READ MORE

Rana Kapoor denies returning to Yes Bank board, backs Ravneet Gill##Rana Kapoor denies returning to Yes Bank board, backs Ravneet Gill

Indiabulls Housing Finance soars as writ petition withdrawn##Indiabulls Housing Finance soars as writ petition withdrawn

Indiabulls Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender has been withdrawn, sending shares nearly 8 percent higher. A criminal writ petition filed on Monday in Supreme Court alleged that about Rs 98,000 crore had been siphoned out of the company by senior officials using a web of shell companies. READ MORE

Rana Kapoor denies media reports of returning to YES Bank's board##Rana Kapoor denies media reports of returning to YES Bank's board

The Rana Kapoor promoter group fully supported and voted in favor of all 19 resolutions at the 15th AGM yesterday 12th June, 2019, Rana Kapoor tweeted. He also said that the YES Bank leadership team, MD & CEO Ravneet Gill and Board of Directors have my fullest support. "Some media reports have suggested that I am attempting a comeback to the Board, inspite of my unequivocal denial to them. I re-iterate that I have fullest confidence and conviction in the management under Shri Ravneet Gill’s leadership and Board of Directors," he said.

Indiabulls Housing Finance rebounds 12% from low point of the day##Indiabulls Housing Finance rebounds 12% from low point of the day

JUST IN: Petitioner, Abhay Yadav withdraws writ petition in Supreme Court against Indiabulls Housing##JUST IN: Petitioner, Abhay Yadav withdraws writ petition in Supreme Court against Indiabulls Housing