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.
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