MARKETS LIVE: Sensex hits 37,000 for the first time; Nifty at record high

Is LIC bailing out debt-laden IL&FS? In what could end up as one of the biggest bailouts in the financial sector, without portraying it as such, Life Insurance Corporation of India (LIC) is stepping in to ‘take charge of’ Infrastructure Leasing & Financial Services (IL&FS), an unlisted infrastructure behemoth with scores of complex subsidiaries, some of which are listed and a giant load of debt, the full details of which are not easily available in the public domain. READ MORE With 36% growth in Q1 profit, L&T takes a strong start to fiscal year 2019 Larsen & Toubro (L&T) put out a robust performance in the first quarter, reporting good order flow growth and stable financial performance. Order flows of Rs 361.42 billion during the quarter, marking a growth of 37 per cent, indicates better days for the firm ahead. READ MORE Market Check INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 36976.37 36858.23 118.14 0.32 BSE 500 15052.57 14996.19 56.38 0.38 BSE MID-CAP 15732.17 15644.91 87.26 0.56 BSE SMALL-CAP 16304.45 16255.43 49.02 0.30 S&P BSE LARGECAP 4330.30 4314.39 15.91 0.37 > More on BSE Indices Ambuja Cements gains 6% on strong June quarter results Shares of Ambuja Cements were trading higher by 6% at Rs 222 per share on the BSE at 09:30 am, after the company reported a better-than-expected a 27% year on year growth in standalone net profit at Rs 4.99 billion in June quarter (Q2CY18), on account of higher cement sales and lower expenses. It had profit of Rs 3.92 billion in year ago quarter. READ MORE Nifty Sectoral trend BSE Sensex gainers and losers