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PNB Housing Finance Ltd. today clarified that the company is not aware of HDFC, Kotak Mahindra Bank eyeing to buy controlling stake in the company, according to its stock exchange notification.
Earlier today, Economic Times reported that HDFC Ltd. and Kotak Mahindra Bank Ltd. are competing for controlling stake in the company, citing people aware of the matter.
Shares of PNB Housing Finance rose as much as 14.1 percent, the most in eight months, to Rs 1,224.
Recent selling in NSE Nifty 50 Index’s 10,800 puts indicate upsides can be expected if the measure holds above 10,800 before Thursday’s expiry, Bloomberg reported quoting ICICI Securities research note, adding that Nifty is likely to settle above 10,750 for June series expiry.
“Unabated foreign investor selling, depreciating currency were the major triggers behind broader market weakness,” the report stated further, Bloomberg said.
Exide Industries today said that it plans to acquire Tudor India's Gujarat plant, according to its stock exchange filing.
Shares of the battery manufacturer rose 0.2 percent to Rs 251.80 as of 1:30 p.m. The stock rose 1.1 percent intraday.
Maharashtra Scooters
KEC International
Heritage Foods
Shriram City Union Finance
Shares of the base-metal maker rose as much as 4.8 percent, the most since April 19, to Rs 239.50.
The company said that the acid leak in its copper smelter plant in Tamil Nadu would not have a material impact on the company, according to its statement on the exchanges.
The company also clarified that it had filed a writ before Madras High Court regarding the matter and the same will be heard today.
As the Reserve Bank of India started an easing cycle in 2015, eventually cutting policy rates seven times, bond yields fell to levels not seen since the global financial crisis. Here's how a state-run PSU made money as its peers lost $4.4 billion during India’s worst bond-market rout in two decades.
Shares of the telecom operator fell as much as 7.3 percent, the most in over three weeks to Rs 56.15.
The company's merger with Vodafone India Ltd. may not meet the expected June 30 deadline as the Telecom Department is looking to raise a fresh demand of around Rs 4,700 crore, PTI reported quoting a person familiar with the development.
The stock declined 47 percent so far this year compared to 5.4 percent advance in Sensex.
Shares of the lender extended gains for the second day and rose as much as 2.7 percent, the most in three weeks to Rs 186.5.
The bank’s board had proposed a bonus of 1:10 and fixed July 11 as the record date, according to its statement on the exchanges.
The stock is 9.9 percent below the Bloomberg consensus one-year price target. The scrip returned 3.4 percent so far this year.
Shares of the electronic-appliances maker extended gains for the fourth day, its longest winning streak since April 3. The stock rose as much as 3.5 percent to Rs 1496.40.
The company had acquired 95 percent stake in Australia-based Climate Technologies for Rs 220 crore, according to its stock exchange notification. The acquisition of Climate Technology will help in distribution of company's products, its Executive Director Nrupesh Shah told BloombergQuint in an interaction.
Trading volume was 13.2 times its 20-day average, Bloomberg data showed.
Shares of the information technology company extended gains for the second day and rose as much as 1.2 percent to Rs 699.50.
The company received a merger approval with approval Sofgen India from National Company Law Tribunal, according to its stock exchange filing.
The stock trades 16.1 times trailing its 12-month earnings and 16 times its estimates for the coming year, Bloomberg data showed. The scrip returned 39 percent so far this year, compared to 88 percent gain in the past 12 months.
Shares of Vakrangee rose hit its daily upper limit for the sixth day, its longest winning streak in over a week. The stock traded at Rs 55.10.
About 24 lakh shares or 0.2 percent equity changed hands in two block deals on National Stock Exchange, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the drugmaker rose as much as 2.3 percent to Rs 644.35.
The company said that it received an Establishment Inspection Report (EIR) from the U.S. drug regulator for its manufacturing facility in Bengaluru, according to its stock exchange notification.
The stock trades at 63 times its estimated earnings per share for the coming year, Bloomberg data showed. The scrip rose 99 percent in the past 12 months.
The Indian rupee depreciated 0.3 percent to open at $68.03 a dollar, as U.S.-China trade tensions are seen escalating. Yields on 10-year government bonds fell 2 basis points to 7.803.
The U.S. Treasury department is planning curbs on Chinese investment in sensitive U.S. industries. Also, the country is set to impose tariffs on $34 billion of Chinese goods on July 6.
Barclays Plc has become the most bearish forecaster on the Indian rupee, predicting the currency will weaken more than it did during the taper tantrum five years ago.
Globally, China cut its required reserve ratio by half a percentage point for some banks, unlocking about $108 billion of liquidity.
Here's a lineup of all major corporate meetings over the next few days. 🤝https://t.co/cwaVJEy08G pic.twitter.com/vqV7gjNNxB
— BloombergQuint (@BloombergQuint) June 25, 2018
BSE and NSE say that charges for high algo order to trade ratio will be levied in the equity segment from June 29.https://t.co/B7pBcvMFUb pic.twitter.com/BH39fDQNix
— BloombergQuint (@BloombergQuint) June 25, 2018
Morgan Stanley sees Indian equity market as a likely outperformer.https://t.co/cuknnWZ5e0 pic.twitter.com/VhuiLXxQjE
— BloombergQuint (@BloombergQuint) June 25, 2018
IMD says monsoon is likely to reach central and north India this week.https://t.co/5uEj1mzxh8 pic.twitter.com/sHw2rpNNSX
— BloombergQuint (@BloombergQuint) June 25, 2018
CLSA's Mahesh Nandurkar believes base effect to help banks and pharma, while margin improvement may be at risk in FY19. pic.twitter.com/u9UpfUIWEV
— BloombergQuint (@BloombergQuint) June 25, 2018
The mega-merger of Idea and Vodafone may not meet the expected June 30 deadline.https://t.co/hpHxeqb9qB pic.twitter.com/yLhzn0dlB0
— BloombergQuint (@BloombergQuint) June 25, 2018
IOC cuts petrol, diesel prices. ⛽️ pic.twitter.com/YqturDyi02
— BloombergQuint (@BloombergQuint) June 25, 2018
Here are the key events to watch out for this week:
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