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Hubtown ends at 52-week low, down 15% on reports of an I-T Dept raid

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The stock fell 76 percent in last one year and corrected 77 percent from its 52-week high of Rs 68 touched in August 2018. Hubtown shares fell 14.60 percent to end at its 52-week low of Rs 15.50 on July 30 after media reports indicated that the Income Tax Department conducted a raid on the company. The stock fell 76 percent in last one year and corrected 77 percent from its 52-week high of Rs 68, it touched in August 2018. The Income Tax Department conducted a search on Hubtown and its joint venture and the search is underway, reported CNBC-TV18 quoting unnamed sources. The news came in right before the market closed on July 30. Meanwhile, the company has done some reorganization of its management structure and consequently appointed Sunil Mago as the Chief Financial Officer in place of Nancy Pereira with effect from July 5. "Pereira will be moving to a new role within Hubtown Group," it had said in its BSE filing earlier in July. A special offer

Dilip Buildcon gains 2% after bagging dam project

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The company said it has been declared L-1 bidder by the Water Resources Department for the project in Jharkhand. Dilip Buildcon shares gained 2 percent intraday on July 30 as the construction company bagged order to construct a dam in Jharkhand. The stock rallied 28 percent in the last six months. It was quoting Rs 420.60, up to Rs 3.70, or 0.89 percent on the BSE at 1113 hours. "Company has been declared L-1 bidder for the project 'construction of Kharkai Dam at Icha with all control gates and its allied works including civil, mechanical (with the design of gates), electrical and SCADA System under SMP in Jharkhand," Dilip Buildcon said in its BSE filing. The company further informed exchanges that it has been declared L-1 bidder by the Water Resources Department for the project in Jharkhand. In addition, its wholly-owned subsidiaries DBL Sangli Borgaon Highways Private Limited and DBL Mangalwedha Solapur Highways Private Limited received the ap

Stocks in the news: Axis Bank, Hero Moto, Tech Mahindra, DHFL, JSW Steel, Gujarat Gas, Alkem

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Tech Mahindra | DHFL | JSW Steel | Gujarat Gas | Alkem Labs | Dish TV | Shoppers Stop and Vinati Organics are stocks which are in the news today. Eicher Motors, Indian Oil Corporation, UPL, Ashok Leyland, Apollo Tyres, NR Agarwal Industries, Star Cement, Symphony, Zee Media Corporation, Allahabad Bank, Future Supply Chain Solutions, JBF Industries, SKM Egg Products, Tanla Solutions, Trent, Digicontent, Uttam Value Steels, MAS Financial Services, Gandhi Special Tubes, Tamilnadu PetroProducts, Shyam Century Ferrous, Maithan Alloys, BF Investment, Indian Energy Exchange, Ajanta Pharma, Kabra Extrusion Technik, Vardhman Special Steels, Indiabulls Ventures, Carborundum Universal, Container Corporation of India, Genus Paper & Boards, Heritage Foods, Blue Dart Express, Motilal Oswal Financial Services, Mahindra Holidays & Resorts India, Creditaccess Grameen, LG Balakrishnan & Bros, Sanwaria Consumer, HCL Infosystems, IndiaMart InterMesh, Sequent Scientific, Expleo Solutions,

Cafe Coffee Day operator shares plunges 20% after founder VG Siddhartha's death

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There were pending sell orders of 2,494,013 shares, with no buyers available Shares of Coffee Day Enterprises shed another 20 percent to hit a 52-week low in the early trade on July 31 after Cafe Coffee Day founder VG Siddhartha body was found near the Netravathi river in Mangaluru. There were pending sell orders of 2,494,013 shares, with no buyers available. The share was locked at 20 percent lower circuit on July 30 after Siddhartha went missing on July 29. Siddhartha was last seen at 6 pm on July 29 when he got off his car. The driver had contacted the family when Siddhartha didn’t return for an over an hour. Also, Read Missing Cafe Coffee Day founder VG Siddhartha dead, body found Siddhartha had written a letter to the board and employees of Coffee Day Enterprises, saying he had "failed as an entrepreneur,". "I fought for a long time but today I gave up," Siddhartha said in the letter dated July 27. At 0922 hours, Coffee Day

Rakesh Jhunjhunwala's Rare Enterprises buys 1% stake in Jubilant Life

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Rakesh Radheshyam Jhunjhunwala already held 1.90 percent stake in Jubilant as per the shareholding pattern of June 2019. Rare Enterprises, owned by the ace investor and billionaire Rakesh Jhunjhunwala, picked up 1 percent stake in Jubilant Life Sciences as per bulk deals data available on National Stock Exchange on July 30. The private equity company acquired 2,013,626 shares of the pharma firm at Rs 436.23 per share and sold 263,626 shares at Rs 435.75 per share. Therefore, the net acquisition of Rare Enterprises is 17.5 lakh shares representing 1.098 percent of total paid-up equity. Rakesh Radheshyam Jhunjhunwala already held 1.90 percent stake in Jubilant, as per the shareholding pattern of June 2019. East Bridge Capital Master Fund also increased its stake in the company by acquiring 1,250,000 shares at Rs 435 per share. The above acquisition of shares is on top of 4.63 percent stake already held by East Bridge Capital in the company as of June 2019. T

Rupee opens lower at 68.90 per dollar

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On July 30 the Indian rupee ended 10 paise lower at 68.86 against the US dollar. The Indian rupee opened marginally lower at 68.90 per dollar on Wednesday against previous close 68.86. On July 30 the Indian rupee ended 10 paise lower at 68.86 against the US dollar on the back of rising crude oil prices and heavy selling in domestic equities. The dollar-rupee August contract on the NSE was at 69.05 in the previous session. Open interest increased 23.46% in the previous session, reported ICICIdirect. We expect the USD-INR to find supports at lower levels. Utilize downsides in the pair to initiate long positions, it added. Get a 2 days free trial in Stock Market Tips and MCX Tips 

Simply Save podcast | Worried the NBFC crisis is affecting your debt fund investments?

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In this episode of the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. Numerous investors are worried that their debt fund investments could be at risk due to the NBFC crisis. Many are unsure whether they should take the crisis as an opportunity and invest further or pull out their money before it’s too late. If you're sailing in the same boat, here's help at hand. In this episode of the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips