Indian stocks posted a modest recovery for a second day on Thursday taking cues from positive Asian markets. At 10:57 am, the benchmark BSE Sensex was up 310.48 points, or 0.8%, to 38,719.96, while the Nifty 50 index rose 87.60 points, or 0.78%, to 11,338.60. Yes Bank, SBI, Bharti Airtel, Vodafone Idea, HDFC, HDFC Bank and RIL were among the key stocks in news today. Read on to know more:
Yes Bank, SBI: Yes Bank Ltd shares shot up as much as 17% on reports of the government asking State Bank of India (SBI) to buy stake in the lender. SBI shares, meanwhile, lost, over 5%.
Bharti Airtel, Vodafone Idea: Bharti Airtel Ltd shares gained 1.5% while those of Vodafone Idea Ltd plunged over 8% after the government asked telecom companies to pay remaining adjusted gross revenue (AGR) dues as per the Supreme Court order.
HDFC: Housing Development Finance Corp Ltd shares inched down 0.6% after the mortgage lender reduced its retail prime lending rate (RPLR) on housing loans by 5 basis points.
HDFC Bank: HDFC Bank Ltd shares inched up 1.1% after the private sector lender reconstituted the search panel instituted to find the successor to Aditya Puri, the managing director and chief executive.
RIL: Reliance Industries Ltd (RIL) shares fell 1% after the company’s subsidiary Reliance Retail Ventures acquired 100% equity share capital of Shri Kannan Departmental Store for Rs 152.5 crore.
DLF: DLF Ltd shares were down 1.7% on news that the company’s board will consider raising up to Rs 1,000 crore via non-convertible debentures (NCDs) on 7 March.
M&M: Mahindra and Mahindra Ltd (M&M) shares rose 1.2% after the company estimates Reduction in production/sales volume of around 12,000 units in March.
Allcargo Logistics: Allcargo Logistics Ltd shares jumped 3.7% after the company got Sebi’s approval to buy 3.17 crore shares in Gati Ltd via open offer.
Max Financial Services: Max Financial Services Ltd shares rose 1.8% as Mitsui Sumitomo plans to acquire 21.87% stake in the company through a share swap.
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