12:59 pm Market Update: Equity benchmarks remained under pressure as the Sensex was down 77.86 points at 27758.05 and the Nifty down 22.65 points at 8569.55. About 1422 shares declined against 963 advancing shares on the BSE.
12:35 pm Edelweiss on Mahanagar Gas: The Mumbai Metro Rail Corporation has inked agreements with 4 civil contractors, including J Kumar Infra, for 6 project packages. This will enable the contractors to claim mobilisation advances and start work post the monsoon season, says Edelweiss. This project comprises around 50 percent of the company's order book.
12:20 pm Market Outlook: The sharp rally in the market does cause jitters, given the state of expensive valuations, especially in the midcap space, but overall, markets are moving in the right direction, says Vikas Khemani, President and CEO of Edelweiss Securities.