Market Live: Indices recover with Nifty around 11,350, Sensex falls 250 pts; Yes Bank rises 7%

Among the sectors, except metal all other indices are trading lower led by bank, pharma, infra, FMCG and IT.

Rupee Update: The Indian rupee has extended the morning losses and trading lower by 19 paise at 68.99 per dollar versus Friday's close 68.80.

Lupin’s Nagpur facility wins ENR global best project award: Lupin has won the Engineering NewsRecord’s (ENR) Global Best Project Award of Merit in the Manufacturing category. The award was given to Lupin’s Oral Solid Dosage (OSD) and Injectable Pharmaceutical Manufacturing Facility at Nagpur, India.

• Brokerages bullish on Dabur after strong Q1 growth
• Shares of Dabur India gained nearly 2 percent intraday as global brokerages remained bullish on the stock, citing strong earnings growth though management commentary was cautious about demand outlook ahead.

  The brokerages expect the stock to return 10-22 percent over a period of one year.

Nifty Around 11,350:

Benchmark indices extended losses for third consecutive session with the Sensex falling 273.84 points to 38,063.17 and the Nifty declining 70.30 points to 11,349 amid asset quality concerns.

More than two shares declined for every share rising on the BSE.

Results Today

Kotak Mahindra Bank, United Spirits, Lakshmi Machine Works, Dewan Housing Finance Corporation, Oriental Bank of Commerce, Can Fin Homes, Hindustan Media Ventures, TVS Motor Company, Aptech, ICICI Securities, Just Dial, GlaxoSmithKline Pharmaceuticals, Just Dial, Wendt (India), Cupid, Mastek, Coromandel International, Allsec Technologies and Srikalahasthi Pipes will announce their June quarter earnings today.

HDFC Bank Falls Nearly 3%

Brokerages retained their positive stance on the stock on strong operating performance and expect stock to return 14-16 percent over a period of one year, but they concerned about moderation in loan growth (due to slowdown in auto & retail segment) and hike in provisions related unsecured book & NBFC/HFC accounts.

MORE WILL UPDATE SOON!!