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Benchmarks hit fresh intraday high
(10:28, 17 Jul 2019)

Key equity benchmarks extended early gains and hit fresh intraday high in morning trade. Firmness in banks stocks offset losses in auto shares. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 111.32 points or 0.28% at 39,242.36. The Nifty 50 index was up 33 points or 0.28% at 11,695.60.

The S&P BSE Mid-Cap index was up 0.25%. The S&P BSE Small-Cap index was up 0.27%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1011 shares rose and 698 shares fell. A total of 118 shares were unchanged.

Shares of public sector banks advanced. UCO Bank (up 1.63%), Indian Bank (up 0.75%), State Bank of India (up 0.32%), Canara Bank (up 0.25%), Andhra Bank (up 0.22%) and Punjab & Sind Bank (up 0.19%) advanced.

Punjab National Bank (down 0.86%), Bank of India (down 0.35%), Allahabad Bank (down 0.34%), United Bank of India (down 0.3%), IDBI Bank (down 0.29%) and Union Bank of India (down 0.06%) declined.

Minister of State for Finance & Corporate Affairs, Anurag Singh Thakur, replying in Lok Sabha yesterday said that as per RBI, since the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014, the number of rural branches of Scheduled Commercial Banks (SCBs) has increased from 41,823 in March 2014 to 51,653 in March 2019. Further, number of branch less mode / business correspondents (BCs) of Scheduled Commercial Banks (SCBs) in rural areas has also increased from 3.37 lakh in March, 2014 to 5.15 lakh in March, 2018.

The minister further added that as per RBI data on global operations, the NPAs of PSBs, after reaching a peak of Rs 8,95,601 crore as on 31 March 2018, have declined by Rs 1,06,032 crore to Rs 7,89,569 crore as on 31 March 2019 (provisional data for the financial year ending March 2019), and PSBs have effected record recovery of Rs 3,16,479 crore over the last four financial years, including record recovery of Rs 1,27,987 crore during 2018-19 (provisional data for the financial year ending March 2019, as reported by RBI on 9 July 2019).

Private bank shares were mixed. Federal Bank (down 3.63%), ICICI Bank (down 0.15%), City Union Bank (down 0.12%) and Axis Bank (down 0.09%) declined.

Kotak Mahindra Bank (up 1.72%), RBL Bank (up 1.69%), IndusInd Bank (up 0.92%) and HDFC Bank (up 0.64%) advanced.

DCB Bank dropped 12.26%. DCB Bank's net profit rose 16.63% to Rs 81.06 crore on 20.43% rise in total income to Rs 944.46 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 16 July 2019.

Yes Bank gained 2.02% ahead of its Q1 result today, 17 July 2019.

Wipro (up 0.37%), MindTree (up 0.72%), Tata Elxsi (down 2.51%), Aditya Birla Money (up 1.11%), DFM Foods (down 1%), Dhanlaxmi Bank (down 0.54%) and Menon Bearings (down 0.21%) will also announce their Q1 June 2019 results today.

Bhel was up 0.31%. The company after market hours yesterday, 16 July 2019, offered an update with respect to a contract received to construct a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district, Chhattisgarh, which is being executed by BHEL-ISG Bengaluru division. Bhel on 15 July 2019 received a notice of termination dated 13th July 2019 from NMDC for the above contract. The company proposes to take up matter through the redressal mechanism available for disputes resolution between Central Public Sector Enterprises (CPSEs).

InterGlobe Aviation was up 0.85%. As per reports, the ministry of corporate affairs (MCA) has asked InterGlobe Aviation to respond to all charges of corporate mis-governance raised by Rakesh Gangwal, the company's promoter. The ministry is also scrutinizing the shareholder agreement between the two promoters, Rakesh Gangwal and Rahul Bhatia, verifying the agreement's compliance with the Companies Act.

Meanwhile, Spicejet was up 2.39%.

Dilip Buildcon was up 0.80%. The company announced before market hours today, 17 July 17, 2019 that it has formed a joint venture with Shannxi Road and Bridge Group. The joint venture has been declared L-1 bidder by the Ministry of Road Transport and Highways for a new engineering, procurement, construction (EPC) project in the state of Karnataka. The order is for the construction of extra-dosed bridge across Sharavathi Backwaters for a total bid of Rs 360.09 crore. The bridge is expected to be completed within a period of 36 months.

In a separate announcement before market hours, Dilip Buildcon announced that it has provisionally completed the construction of four laning of Mahulia-Baharagora-Jharkhand/West Bengal boarder section of NH-33 for a total length of 71.61 km in the state of Jharkhand under NHDP Phase-III on engineering, procurement, construction (EPC) Mode. The provisional completion certificate has been issued by the authority on 16 July 2019 and has declared the project fit for entry into operation from 5 July 2019.

Sadbhav Infrastructure Project was up 1.96%. The company announced after market hours yesterday, 16 July 2019 that its toll revenue from 10 operational SPVs (apart from NSEL which is an annuity project) have increased by approx 2.3% to Rs 281.26 crore in Q1FY20 from Rs 274.99 crore in Q1FY19.

KRBL was down 0.62%. The company announced after market hours yesterday, 16 July 2019 that CARE Ratings had revised the rating of its commercial paper limits worth Rs 700 crore to CARE A 1 + (Under credit watch with negative implications). CARE has revised the rating due to the provisional attachment of properties by the Directorate of Enforcement at Dhuri, Tehsil Sangrur District of Punjab, valuing about Rs. 15 crores, on July 04, 2019 in connection with the Embraer deal case.

Suzlon Energy was down 3%. The company announced after market hours yesterday, 16 July 2019 that it has not made the payment of the principal amount of the outstanding Bonds, being $ 172 million, which was due on 16 July 2019 in accordance with the terms and conditions of the Bonds. The Company is working on holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt (including the Bonds).

IDBI Bank (down 0.29%), Reliance Capital (up 0.96%) and Reliance Infrastructure (up 1.15%) are currently under F&O ban. F&O ban was imposed after these contracts crossed 95% of the market-wide position limit in derivatives market.

Overseas, Asian stocks were trading lower on Wednesday following overnight developments on the US-China trade front.

US stocks closed lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had a long way to go adding that America could place tariffs on an additional $325 billion worth of Chinese goods. Trump made his comments during a cabinet meeting at the White House.

Federal Reserve chair Jerome Powell, while speaking in Paris at the Bank of France, said the economic outlook hasn't improved since the last Federal Open Markets Committee meeting in June, likely setting the stage for an interest rate cut.

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As on  23-Aug-2019
    Essel 3 In 1 Fund (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :17.57] ,    Essel 3 In 1 Fund (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :16.57] ,    Essel 3 In 1 Fund (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :15.58] ,    Essel 3 In 1 Fund (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :17.46] ,    Essel 3 In 1 Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :16.83] ,    Essel 3 In 1 Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :16.48] ,    Essel 3 In 1 Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :18.89] ,    Essel Arbitrage Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.61] ,    Essel Arbitrage Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.63] ,    Essel Arbitrage Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.62] ,    Essel Arbitrage Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.61] ,    Essel Arbitrage Fund - Regular (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.57] ,    Essel Arbitrage Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :12.03] ,    Essel Arbitrage Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.55] ,    Essel Equity Hybrid Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.24] ,    Essel Equity Hybrid Fund - Direct (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.24] ,    Essel Equity Hybrid Fund - Direct (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.24] ,    Essel Equity Hybrid Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.24] ,    Essel Equity Hybrid Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.24] ,    Essel Equity Hybrid Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.25] ,    Essel Equity Hybrid Fund - Regular (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Equity Hybrid Fund - Regular (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Equity Hybrid Fund - Regular (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Equity Hybrid Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Equity Hybrid Fund - Regular (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Equity Hybrid Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.03] ,    Essel Large & Midcap Fund (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.23] ,    Essel Large & Midcap Fund (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.64] ,    Essel Large & Midcap Fund (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.23] ,    Essel Large & Midcap Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :15.03] ,    Essel Large & Midcap Fund - Direct (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.98] ,    Essel Large & Midcap Fund - Direct (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.90] ,    Essel Large & Midcap Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :15.19] ,    Essel Large Cap Equity Fund (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.60] ,    Essel Large Cap Equity Fund (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.89] ,    Essel Large Cap Equity Fund (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :15.08] ,    Essel Large Cap Equity Fund (Div-Y)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.87] ,    Essel Large Cap Equity Fund (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :21.59] ,    Essel Large Cap Equity Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :14.52] ,    Essel Large Cap Equity Fund - Direct (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :16.04] ,    Essel Large Cap Equity Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :15.17] ,    Essel Large Cap Equity Fund - Direct (Div-Y)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :16.49] ,    Essel Large Cap Equity Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :23.56] ,    Essel Liquid Fund - Direct (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,001.29] ,    Essel Liquid Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,005.63] ,    Essel Liquid Fund - Direct (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,001.02] ,    Essel Liquid Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,114.31] ,    Essel Liquid Fund - Regular (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,001.29] ,    Essel Liquid Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,005.54] ,    Essel Liquid Fund - Regular (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,001.04] ,    Essel Liquid Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,101.64] ,    Essel Liquid Fund - UR & Dividend Plan - (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,105.69] ,    Essel Liquid Fund - UR & Dividend Plan GT 3Yrs  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,000.00] ,    Essel Long Term Advantage Fund (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.16] ,    Essel Long Term Advantage Fund (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.16] ,    Essel Long Term Advantage Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.84] ,    Essel Long Term Advantage Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :13.97] ,    Essel Multi Cap Fund - Direct (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.12] ,    Essel Multi Cap Fund - Direct (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.12] ,    Essel Multi Cap Fund - Direct (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.12] ,    Essel Multi Cap Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.12] ,    Essel Multi Cap Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.12] ,    Essel Multi Cap Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.17] ,    Essel Multi Cap Fund - Regular (D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Multi Cap Fund - Regular (Div-A)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Multi Cap Fund - Regular (Div-H)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Multi Cap Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Multi Cap Fund - Regular (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Multi Cap Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :9.91] ,    Essel Regular Savings Fund (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.10] ,    Essel Regular Savings Fund (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :11.72] ,    Essel Regular Savings Fund (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :19.06] ,    Essel Regular Savings Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :10.89] ,    Essel Regular Savings Fund - Direct (Div-Q)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :12.91] ,    Essel Regular Savings Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :21.04] ,    Essel Ultra Short Term Fund - Direct (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,006.65] ,    Essel Ultra Short Term Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,046.30] ,    Essel Ultra Short Term Fund - Direct (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,005.06] ,    Essel Ultra Short Term Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,153.89] ,    Essel Ultra Short Term Fund - Regular (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,012.45] ,    Essel Ultra Short Term Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,024.24] ,    Essel Ultra Short Term Fund - Regular (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,004.45] ,    Essel Ultra Short Term Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,069.65] ,
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