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Reliance Industries, Yes Bank and Shree Cement Among Key Stocks in Focus Today

Indian stock markets were trading with strong positive momentum on Wednesday on the back of heavy buying in index heavyweights. At 10:53 am, the benchmark S&P BSE Sensex rose 320.15 points, or 0.79%, to 40,789.85, while the Nifty 50 gained 92.90 points, or 0.78%, to trade at 12,033.

RIL, Yes Bank, Shree Cement and Reliance Capital were among the key stocks in news today. Read on to know more:

RIL: Reliance Industries Ltd (RIL) shares gained over 4% after Reliance Jio said it will hike tariffs of its mobile services in compliance with TRAI’s regulation on telecom tariffs.

Yes Bank: Yes Bank Ltd shares rose 2.9% even after the bank informed that divergence in gross non-performing assets (NPAs) as of March 2019 stood at Rs 3,277 crore, while divergence in net NPAs at Rs 2,299 crore. The bank intends to convene board meeting by November-end to finalise capital raising.

Shree Cement: Shree Cement Ltd shares jumped 3.4% after the company approved floor price for the qualified institutional placement (QIP) at Rs 19,806.5 per share.

McNally Bharat Engineering: McNally Bharat Engineering Co. Ltd shares gained 4.2% after two investors submitted binding term sheets to the lenders for the debt resolution of the company.

Allahabad Bank: Allahabad Bank shares rose 1.7% after the ministry of finance gave in-principle approval to the proposed merger of the bank into Indian Bank.

Reliance Capital: Reliance Capital Ltd shares declined 5% after the company said its shareholding in Reliance General Insurance has been transferred to IDBI Trustee Services after invoking of pledge of shares.

Jet Airways: Shares of Jet Airways India Ltd inched up 1.5% after a media report said that the Committee of Creditors may allow Synergy Group four weeks’ time to submit bid for the airline.

Disclaimer: is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited that also owns Reliance Jio.

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Source: News18