CNBC-TV18 Highlights: Sensex closes 185 points up, Nifty at 11940, Airtel jumps 9%, Reliance Industries 4%

Sensex heatmap at close: Bharti Airtel, Reliance Industries top gainers, Yes Bank top loser##Sensex heatmap at close: Bharti Airtel, Reliance Industries top gainers, Yes Bank top loser

Closing Bell: Sensex jumps 185 points, Nifty at 11940, Bharti Airtel suges 9%##Closing Bell: Sensex jumps 185 points, Nifty at 11940, Bharti Airtel suges 9%

The BSE Sensex settled Tuesday's trade 185 points higher, or 0.46 percent, at 40,469. The NSE Nifty50 also rose over 55 points, or 0.47 percent, to trade at 11,940. The Nifty MidCap 100 index lagged behind, rising just 0.20 percent, while the Nifty SmallCap 100 index rose 0.37 percent. Among sectoral gauges, bank, pharma, PSU Bank and private bank advanced while metal, media, FMCG and auto indices declined. Bharti Infratel, Bharti Airtel, Axis Bank, Reliance Industries and Power Grid rose between 2 and 11 percent. Yes Bank, M&M, ZEEL, Tata Consultancy Services and Tata Steel declined between 1 and 2.6 percent.

DHFL may become the first NBFC to go under NCLT insolvency proceedings##DHFL may become the first NBFC to go under NCLT insolvency proceedings

Debt-ridden Dewan Housing Finance Corp Ltd may be the first non-banking finance company (NBFC) to be sent to the National Company Law Tribunal for insolvency proceedings. The ministry of corporate affairs on November 18 issued a notification allowing NBFCs with asset size of Rs 500 crore or more can be sent to the NCLT for proceedings under Section 227 of the Insolvency and Bankruptcy Code.

Bank executives familiar with the matter told CNBC-TV18 that the NCLT may now be the best route for resolution of DHFL, which has been under stress for a year now.  The key reason why banks may favour the bankruptcy law route is because of the multiple litigations surrounding DHFL, which had stalled the implementation of a resolution plan charted by lenders under Reserve Bank of India's June 7 circular for stressed assets resolution. READ MORE

Reliance Industries becomes first Indian firm to cross market cap of Rs 9.5 lakh crore##Reliance Industries becomes first Indian firm to cross market cap of Rs 9.5 lakh crore

Reliance Industries' shares on Tuesday touched a new 52-week high of Rs 1511.90, rising as much as 3.6 percent, pushing the company's market cap over Rs 9.5 lakh crore. At 1.49 pm, Reliance Industries shares quoted at Rs 1506.60, trading 3.3 percent higher with a market cap of Rs 9,55,438 crore. Last month, the Mukesh Ambani-led oil-to-telecom-retail conglomerate became the first Indian firm to cross a market capitalisation of Rs 9 lakh crore. READ MORE

These are the airlines that benefitted the most from the demise of Jet Airways##These are the airlines that benefitted the most from the demise of Jet Airways

What a turbulent year this has been for Indian aviation. The death of Jet Airways in April, another set of quarterly losses in the second quarter by the only two listed airlines and stagnated growth in passenger number — 2019 has been Annus Horribilis for India’s airline industry.

The July–September quarter has traditionally been a weak quarter and airlines have struggled financially and operationally in the past. But this year was different because July–September was the first full quarter that had no Jet Airways. Remember, by then Jet’s competitors had lapped up its slots and aircraft.

Click on this link to read Ameya Joshi's the full article.

BSE Index Update: 18 out of 30 stocks trade in red##BSE Index Update: 18 out of 30 stocks trade in red

In the BSE index, 18 stocks out of 30 were trading in the red during the afternoon session on Tuesday. Bharti Airtel remained the top gainer while YES Bank was the top loser in the index. However, the index was still trading in the green zone on the back of gains in Reliance Industries, Sun Pharma, HDFC Bank, SBI and Infosys. 

At 2:05 pm, the Sensex was trading 151.97 points or 0.38 percent higher at 40,436.16.

Nifty Indices Update: 6 out of 11 sectoral indices in red##Nifty Indices Update: 6 out of 11 sectoral indices in red

Nifty50 index saw 6 sectoral indices in red on Tuesday with Nifty Media as the worst performing index. Banks continued to catch momentum as Nifty PSU Bank was up 1.96 percent while the Nifty Private Bank index rose 0.57 percent. 

At 1:37 pm, the Nifty50 index was trading 39.55 points or 0.33 percent higher at 11,923.85.

Zee Learn jumps 10% on report of likely deal with KKR-backed Eurokids to sell Kidzee##Zee Learn jumps 10% on report of likely deal with KKR-backed Eurokids to sell Kidzee

Shares of Zee Learn were locked at 10 percent upper circuit, quoting at Rs 25.45 apiece on Tuesday. The Essel group scrip moved higher on a report that EuroKids, a leading playschool chain in the country controlled by US private equity firm KKR, is in talks to acquire Kidzee from Zee Learn for Rs 1,000-1,200 crore.

The deal, if it goes through, will help the Subhash Chandra-promoted Essel group further deleverage its consolidated balance sheet, an Economic Times report said on Tuesday.

At 1:20 pm, the shares were up trading 9.89 percent higher at Rs 25.55 per share on the NSE.

Click here to read the article. 

Shares of Future Retail decline 2% post Morgan Stanley price cut##Shares of Future Retail decline 2% post Morgan Stanley price cut

The share price of Future Retail declined nearly 2 percent after global brokerage house Morgan Stanley cut its price target for the stock. While maintaining an overweight call on the stock, Morgan Stanley slashed its target price to Rs 540 from Rs 660 per share, implying 63 percent potential upside from current levels.

The brokerage said that the company's earnings were in-line but high debt is a key negative, and therefore, it lowered FY20 earnings estimate by 8.5 percent.

Reliance Industries crosses Rs 9.5 lakh crore market capitalization##Reliance Industries crosses Rs 9.5 lakh crore market capitalization

Reliance Industries crosses Rs 9.5 lakh crore market capitalization on Tuesday. The stock surged 3.42 percent intraday at Rs 1,508.90 per share on the NSE. It also hit its 52-week high to become India's first-ever company to report a whopping market cap. 

SpiceJet's shares surge 5% after positive October aviation data##SpiceJet's shares surge 5% after positive October aviation data

The share price of SpiceJet's surged 5 percent intraday on the BSE on Tuesday after the airline market share increased by 1.6 percent.

In the month of October, India's largest domestic airlines reported market share increase to 16.3 percent v/s 14.7 percent in September.

At 12:23 pm, the stock price was trading 2.50 percent higher to Rs 108.25 per share.

Meanwhile, IndiGo which is the largest Indian domestic airline reported a decline in market share by 0.8 percent to 47.4 percent in October. 

SBI Life Insurance's shares fall 6.5% as Carlyle Group cuts stake via block deal##SBI Life Insurance's shares fall 6.5% as Carlyle Group cuts stake via block deal

SBI Life Insurance shares fell as much as 6.5 percent after a block deal on the National Stock Exchange saw a 2.7 percent stake in the company changing hands at Rs 948.4 apiece. The block deal price was a steep discount of over 5 percent from its Monday's closing price of Rs 1,000.05.

Private equity firm Carlyle Group, which had acquired over 9 percent stake in the insurance firm in March, was planning to offload 3 percent, or 3 crore shares, of the insurance firm through a block deal route on Tuesday at an impressive 86 percent profit in just eight months, as per an ET report.

Carlyle through its investment firm CA Emerald Investments had bought a 9.2 percent stake in SBI Life for about Rs 4,635 crore.

The block deal could have raised up to Rs 2,820 crore, it further said, while adding that JP Morgan India is acting as the broker for the deal.