All sectors were caught in the bear trap with the IT and realty being the major losers, falling nearly 4 percent each
The benchmark indices extended losses on September 16, tanking almost 2 percent. The BSE Sensex was down nearly 1,093 points at 58,841, and the Nifty closed 347 points lower at 17,531.
CSB Bank | CMP: Rs 234.20 | The stock gained more than 2 percent after the private sector lender said that the board of directors had approved the appointment of Pralay Mondal as the Managing Director & CEO of the bank for a period of three years with effect from September 15.
IndusInd Bank | CMP: Rs 1,227.35 | The stock climbed 2.6 percent after the re-appointment of Sumant Kathpalia as the Managing Director & CEO of the bank for a further period of three years with effect from March 24, 2023 up to March 23, 2026. This is subject to the approval of the Reserve Bank of lndia and the shareholders of the bank.
Vedanta | CMP: Rs 290.75 | The stock corrected 7.5 percent after the company issued a clarification that the proposed semiconductors business is not under it and would be undertaken by its holding company Volcan Investments.
Devyani International | CMP: Rs 193.15 | The share price closed with a 1.5 percent gain after Edelweiss Securities said that growth levers for the KFC and Costa Coffee operator were in place. The domestic brokerage firm upgraded its rating of the stock to “buy” from “hold” and assigned a target price of Rs 233, citing comfort on demand, the launch of Pizza Mania at Pizza Hut and better stock valuation.
Tata Power Company | CMP: Rs 236.3 | The stock price declined nearly 4 percent despite its subsidiary Tata Power Solar Systems bagging contract worth Rs 612 crore for a 100MW ground- mounted project for SJVN in Gujarat. The project will get commissioned within 11 months from the date of receiving of letter of award.
PVR | CMP: Rs 1,761 | The stock fell 4.6 percent as Gray Birch Investment exited the multiplex chain operator by selling the entire shareholding of 22,06,743 equity shares at an average price of Rs 1,871.18 per share on September 16. Other investors Plenty Private Equity FII I and Plenty Private Equity Fund I also offloaded stake in the company.
Indo Borax & Chemicals | CMP: Rs 141 | The stock gained 1 percent as the company proposed to install a new plant at the existing plant at Pithampur for the manufacturing of boric acid derivatives and related products. The project will be funded by internal accruals.
Trigyn Technologies | CMP: Rs 115.65 | The stock rallied more than 6 percent after its subsidiary Trigyn Technologies has received an enterprise task order agreement for providing citywide systems integration services, Class I, from the City of New York (City), Department of Information Technology & Telecommunications. The order is for six years.
Career Point | CMP: Rs 146 | The stock rose 1.7 percent after the Reserve Bank of India issued no objection letter (NOC) for the merger of Srajan Capital (NBFC) with Career Point (non-NBFC) under the scheme of arrangement. Srajan Capital is a subsidiary of Career Point.
Future Lifestyle Fashions | CMP: Rs 10.95 | The stock corrected more than 3 percent after investor Pioneer Investment Fund has sold 3.98 lakh equity shares or 0.2 percent stake in the company through open market transactions on September 14-15. With this, its shareholding in the company stands reduced to 2.44 percent, up from 2.64 percent earlier.
Moneycontrol News
`); } if (res.stay_updated) { $ (“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
