Sensex falls 239 pts, Nifty ends below 10,700; Rel Comm jumps 65%

Benchmark indices closed lower for the second consecutive session amid political turmoil in Italy.

The 30-share BSE Sensex declined 43.13 points to 34,906.11 and the 50-share NSE Nifty slipped 18.90 points to 10,614.40.

About 1,444 shares declined against 1,222 advancing shares on the BSE.

Nava Bharat Ventures, Info Edge, Torrent Power and Satin Creditcare gained up to 20 percent while Vakrangee, Just Dial, South Indian Bank and Adani Power fell up to 5 percent.

HEADLINES OF THE DAY

CRISIL stock price is locked at 20 percent upper circuit after 6.33 lakh equity shares (representing 0.9 percent of total equity) exchanged hands on the National Stock Exchange at Rs 1851.05 per share.

Hotel Leela Venture share price declined nearly 2 percent after the company reported net loss at Rs 15.8 crore.

Borosil Glass Works share price rallied 5 percent after March quarter profit shot up 66 percent year-on-year to Rs 14.8 crore.

Aban Offshore has increased its losses in the quarter ended March 2018 on the back of weak operating numbers.

Alkem Laboratories' March quarter consolidated profit fell sharply by 51.6 percent year-on-year to Rs 66.3 crore.

arksans Pharma has reported profit in the quarter ended March 2018. The company's Q4 net profit was at Rs 4.3 crore.

UPCOMING RESULTS: -   BOMBAY POTTERIE, REIL ELECTRIC, HIMALAYA FOOD,  BANARAS BEADS,

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS 29 MAY 2018

CS OPENING BELL:

NIFTY SPOT DOWN 20 @ 10667

SENSEX DOWN 62 @ 35100

BANK NIFTY FUTURES DOWN 140 @ 26402

                                                               HAPPY TRADING!!!!!!!!!!!

CS NIFTY FUTURES (MAY ) OVERVIEW

TREND BEARISH

RES2: 10815

RES 1:10745

SUP1:10590

SUP2:10520

CS BANK NIFTY FUTURES (MAY ) OVERVIEW

TREND BEARISH

RES 2: 26765

RES 1: 26635

SUP1: 26240

SUP2: 26135

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS 28 MAY 2018

CS OPENING BELL:

NIFTY SPOT UP 50 @ 10655

SENSEX UP  148 @ 35074

BANK NIFTY FUTURES UP  143 @ 26386

                                                                           HAPPY TRADING!!!!!!!!!!!

CS NIFTY FUTURES (MAY ) OVERVIEW

TREND BULLISH

RES2: 10825

RES 1:10745

SUP1:10565

SUP2:10500

CS BANK NIFTY FUTURES (MAY ) OVERVIEW

TREND BULLISH

RES 2: 26770

RES 1: 26565

SUP1: 26135

SUP2: 2600

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capitalstars news update-IHH extends validity of its `Enhanced Revised offer` for Fortis till June 30

Fortis Healthcare (FHL) on Friday said that Malaysia's IHH Healthcare Berhad has extended the validity of its "Enhanced Revised Offer" to invest in the company.

As per a BSE filing, FHL said that its Board has received a letter from IHH for extending the acceptance period for its offer to June 30 from the earlier date of May 29. IHH has proposed to invest directly into the company at Rs 175 per share cost.

"In order to enable the reconstituted Board to fully consider and evaluate our proposal, we now extend the acceptance period of the enhanced revised IHH proposal..." IHH Healthcare Berhad's Managing Director and Group CEO Tan See Leng said in the letter to the Fortis Board.

The development comes just after a consortium of Manipal-TPG had extended the validity of its "modified" new offer till June 6 from the earlier date of May 29.

"We understand that the FHL board is still in the process of considering the modified new offer... in order to provide FHL board with sufficient time to consider our modified new offer, we propose to extend the validity of our modified new offer...," the Manipal Global Health Services said in a letter to the company's Board.

On May 14, the Manipal-TPG consortium had received the "modified" new offer which proposed to values the company at Rs 9,403 crore at a share price of Rs 180 per share.

However, the company's Board on May 10 decided to recommend the offer of the Munjal-Burman consortium for sale of its business to the shareholders for their approval.

Fortis' board had received offers from suitors such as Hero Enterprise Investment Office, Burman Family Office, Fosun Health Holdings, Malaysia's IHH Healthcare Berhad, Manipal Hospital Enterprises and Radiant Life Care for infusion of funds.

In addition, the validity extension of IHH's offer comes as the healthcare major's shareholders voted Director Brian W. Tempest out from the company's Board at the Extraordinary General Meeting (EGM) held on Tuesday. The EGM had sought shareholders approval on a resolution filed by a minority shareholders' group to induct and remove certain Board members among other clearances.

The resolution had sought shareholders approval to replace Tempest, Non-Executive Director Harpal Singh, and Non-Executive Independent Directors Sabina Vaisoha and Tejinder Singh Shergill from the Board.

Harpal Singh, Shergill, and Vaisoha resigned on Sunday citing personal reasons.

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