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India stocks higher at close of trade; Nifty 50 up 0.30% By



© Reuters. India stocks higher at close of trade; Nifty 50 up 0.30% – India stocks were higher after the close on Monday, as gains in the , and sectors led shares higher.

At the close in NSE, the rose 0.30% to hit a new all time high, while the index added 0.17%.

The best performers of the session on the were UltraTech Cement Ltd (NS:), which rose 2.96% or 124.85 points to trade at 4347.75 at the close. Meanwhile, Grasim Industries Ltd (NS:) added 2.77% or 35.20 points to end at 1306.60 and Wipro Ltd (NS:) was up 2.69% or 7.00 points to 266.85 in late trade.

The worst performers of the session were ITC Ltd (NS:), which fell 3.56% or 12.00 points to trade at 325.15 at the close. Coal India Ltd (NS:) declined 1.38% or 3.45 points to end at 247.00 and Yes Bank Ltd. (NS:) was down 1.10% or 17.15 points to 1547.45.

The top performers on the BSE Sensex 30 were Wipro Ltd (BO:) which rose 3.12% to 267.60, Adani Port and Special Economic Zone Ltd (BO:) which was up 1.81% to settle at 381.60 and ICICI Bank Ltd (BO:) which gained 1.69% to close at 303.05.

The worst performers were ITC Ltd (BO:) which was down 3.40% to 325.75 in late trade, Coal India Ltd (BO:) which lost 1.34% to settle at 247.20 and Gail (India) Ltd. (BO:) which was down 1.13% to 384.95 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 826 to 741 and 10 ended unchanged; on the Bombay Stock Exchange, 1357 fell and 1275 advanced, while 142 ended unchanged.

Tradebuddy.onlines in Grasim Industries Ltd (NS:) rose to all time highs; up 2.77% or 35.20 to 1306.60. Tradebuddy.onlines in Adani Port and Special Economic Zone Ltd (BO:) rose to all time highs; rising 1.81% or 6.80 to 381.60. Tradebuddy.onlines in ICICI Bank Ltd (BO:) rose to 52-week highs; rising 1.69% or 5.05 to 303.05.

The , which measures the implied volatility of Nifty 50 options, was up 2.55% to 11.4575.

Gold Futures for August delivery was up 0.27% or 3.29 to $1230.79 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.04% or 0.02 to hit $46.52 a barrel, while the September Brent oil contract rose 0.08% or 0.04 to trade at $48.95 a barrel.

USD/INR was up 0.11% to 64.347, while EUR/INR fell 0.17% to 73.7490.

The US Dollar Index Futures was up 0.06% at 94.96.

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Republican Senator Lee undecided on tax bill, seeks child credit changes: aide



© Reuters. Senator Mike Lee (R-UT) walks to the Senate floor prior to a health care vote on Capitol Hill in Washington

WASHINGTON (Reuters) – U.S. Republican Senator Mike Lee has not decided whether to support a Republican tax bill and wants changes to the child tax credit, an aide to the lawmaker said on Thursday.

Both Lee and Republican Senator Marco Rubio want more of the proposed child tax credit to be refundable, Conn Carroll, Lee’s communications director said, adding Lee is “undecided on the tax bill as currently written.”

The sweeping tax bill needs a simple majority to pass in the Senate, in which Republicans hold 52 of the 100 seats and no Democrats are expected to support it.

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Airbus confirms management shake-up By Reuters



© Reuters. Airbus Helicopters CEO Guillaume Faury stands near a multi-role military helicopter EC 725 by Airbus Helicopters at an international military fair in Kielce

PARIS (Reuters) – Airbus (PA:) confirmed a top management shake-up on Friday, following weeks of turmoil at the European planemaker.

Chief operating officer and planemaking chief Fabrice Bregier will step down in February 2018, while chief executive Tom Enders will not seek a new mandate when his term expires in 2019, the company said.

Guillaume Faury, currently chief executive of Airbus Helicopters, will succeed Bregier as president of the main commercial aircraft division, it said in a statement, confirming a Reuters report.

The company said the board had acted to secure an orderly succession at the world’s second-largest planemaker, which has been beset by rivalries and abrupt changes in the past.

During 2018, the board will assess internal and external candidates for the CEO role with a view to announcing Enders’ successor in good time for confirmation at the 2019 annual shareholder meeting, the statement said.

Bregier, a 56-year-old Frenchman who has long been seen as the natural heir to Enders, has told the board he does not intend to be part of the selection process for the CEO position in 2019, and will therefore step down in February 2018 to “pursue other interests,” the statement said.

However, Bregier hinted at the long-running battle with Enders over status and responsibility which many people in the company say contributed to his unscheduled departure, listing the various titles he had held while running the planes unit.

Enders said he would work to ensure a smooth transition.

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