Financial stocks lift indices, Sensex gains 364 pts; Nifty ends at 11,466

All that happened in the markets today

3:05 PM

AGR Case :: Commercial decision of DoT to decide on allowing permission for spectrum sale, says Ranjit Kumar for Aircel COC

>> SC cant make that commercial decision for DoT.

 

>> There will be no auction, banks won't lend to telcos if spectrum not recognized as security.

3:04 PM

AGR Case :: SC makes observations

>> What is being proposed is like you renting out your house to a tenant, and the tenant selling your house under IBC.

>> New person will take over the asset, free of encumbrances and liabilities. 

 

>> Spectrum, if cancelled, will have to surrendered to DOT, may be auctioned for higher realization.

2:54 PM

MARKET CHECK:: Sensex holds gains

2:54 PM

AGR Case :: DoT has clarified that prior to 2016 there was no case of spectrum sharing, says Salve

>> Spectrum trading between Jio-R.Comm is a small part of the total spectrum that was owned by R.Comm

>> No additional demand has been raised by the DOT against Jio, R.Comm 

 

>> No AGR dues are attributable to the small fraction of total R.Comm spectrum sold.

2:40 PM

AGR Case :: Harish Salve argues

>> At the stage of resolution applicant seeking DOT nod to sell, the applicant may provide for part payment and DOT may see commercial wisdom.

>> There will be room for negotiation while seeking DOT nod.

2:38 PM

AGR Case :: Govt should move to cancel license, spectrum if dues are being wiped out, observes SC

>> If telcos are unwilling to pay, we will direct cancel of spectrum allocation.

 

>> How else is DOT supposed to deal with such an issue?

2:38 PM

AGR Case :: Govt liability is not being wiped out because sale of spectrum, says Salve

>>  It is as per the IBC and status of DoT as operational creditor

>> Notion of security under IBC allows for sale of right to use spectrum. 

>> It is not for this court to decide, DoT can decide on sale of spectrum at the appropriate stage.

2:37 PM

AGR Case :: License agreement recognises spectrum as a security, can be monetized under IBC, argues Salve

>> Resolution plan is proposing for sale of right to use under trading guidelines. 

 

 

2:35 PM

AGR Case :: SC observes, we are verifying if IBC proceedings are subterfuge to escape paying AGR dues.

>> Can an asset (spectrum) that does not belong to telcos be sold under IBC.

2:17 PM

NEWS ALERT | Hearing begins in the AGR case

Harish Salve, appearing for CoC of Reliance Communications, begins arguments

2:07 PM

Vodafone Idea, YES Bank: 10 stocks showing a volume breakout on the charts

Volume plays a crucial role in identifying the interest of market participants in a stock. Higher the volume, more the interest in a particular counter. Volume also reflects stocks where maximum trading activity is happeing in a session. This information assists in identifying momentum stocks and then traders / investors can capitalise on the opportunity. On the charts, when a breakout or breakdown is confirmed by strong volumes, the trend is considered as more reliable as compared to a movement in stock price where strong volumes are missing. READ MORE  

2:06 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADVANCED ENZYME	240.50	247.70	2.06
AFFLE INDIA	2548.40	2548.40	10.00
ALKYL AMINES	3355.75	3449.95	5.12
APL APOLLO TUBES	2411.00	2431.80	3.39
ASIAN PAINTS	1959.00	1994.75	0.03

2:04 PM

Rupee Closing

Rupee ends at 74.31 per US dollar vs Friday's close of 74.84/$

1:56 PM

Orient Bell shares zoom 13% as Porinjo's Equity Intelligence hikes stake

Equity Intelligence bought 80,000 shares at an average price of Rs 91.87 on Friday, NSE bulk deal data showed. According to the shareholding pattern for the quarter ended June 2020, Equity Intelligence held 1.57 per cent stake in the company. READ MORE 

1:46 PM

Nifty Pharma index trades lower in an otherwise firm market