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Kotak Mahindra Bank Ltd.’s board today approved increasing ceiling limit on the total shareholding of Foreign Institutional Investors and Foreign Portfolio Investors to 45 percent from the current limit of 43 percent with immediate effect, it said in a statement on the exchange.
PM Modi speaks for the first time after the strike against Jaish-e-Mohammed's biggest terror camp in Pakistan. #Balakot
— BloombergQuint (@BloombergQuint) February 26, 2019
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Varun Beverages Ltd.’s board approved raising up to Rs 1,500 crore through Qualified Institutions Placement subject to shareholders’ approval, according to its statement on the exchanges.
About 12.4 lakh shares of Federal Bank changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
Destroyed JeM's biggest terror camp; no civilians hurt, says Foreign Secretary Vijay Gokhale. #Balakot #IndianAirForce
— BloombergQuint (@BloombergQuint) February 26, 2019
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Shares of the food processing company rose as much as 8.6 percent, the most in nearly a month, to Rs 344.
KRBL traded at 16 times its estimated earnings per share for the coming year, Bloomberg data showed.
Nifty Rejig: Britannia Industries Will Replace HPCL In Nifty 50
Shares of the Royal-Enfield parent halted its two-day rally and fell nearly 1.4 percent intraday to Rs 20,427.
The company said the labour strike at its Oragadam facility in Tamil Nadu impacted output of 3,200 motorcycles, according to its statement on the exchanges. The entire workforce reported to work from Feb. 23, the filing said.
Nifty’s 10,700 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract jumped 435.71 percent to Rs 63.75. Over 6.9 lakh shares were removed from the open interest which stood at over 28.5 lakh shares.
Shares of DHFL fell for the second consecutive trading session and declined as much as 7.4 percent to Rs 126.60.
ICRA downgraded the company’s commercial papers worth Rs 8,000 crore to ‘A2+’ from ‘A1+’. That company responded by saying that the rating action by ICRA is not merit based at all and that it has not taken cognizance of DHFL’s intent to extinguish CPs by end of March and the fact that it is in advanced stages of fund-raising transactions.
The stock had declined 77.8 percent over the past year compared to a 5.4 percent advance in the Sensex.
Here's quick look at the corporate insider trades reported on Monday.
— BloombergQuint (@BloombergQuint) February 26, 2019
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Key highlights from the conversation:
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UBS on Eicher Motors
Credit Suisse on IIFL Holdings
Goldman Sachs on Reliance Industries
HSBC on Coal India
Astra Microwave Products
CESC Ventures
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The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, extended losses and fell as much as 0.9 percent to 10,794.50 as of 8:10 a.m., after a Pakistan army spokesperson alleged that Indian fighter jets violated an agreed border between the two countries.
Asian stocks were mixed on Tuesday, with several markets slipping as the rush of optimism on U.S.-China trade talks from early Monday faded some.
Shares fell in Hong Kong and Australia and were little changed in Japan and China.
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