The market clocked one percent gains after five-day consolidation following FIIs buying, steep correction in oil prices and falling volatility. Banking and financials, and technology stocks lifted the market. The BSE Sensex jumped 659 points to 59,688, while the Nifty50 rose 174 points to 17,799.
Stocks in News
NBFCs
Fitch has affirmed its ratings on for four non-banking finance companies to Shriram Transport Finance (‘BB’), Muthoot Finance (‘BB’), Manappuram Finance (‘BB-’) and IIFL Finance (‘B+’) and maintained stable outlook. READ MORE
Container Corporation of India (Concor)
According to analysts, lack of clarity on new policy is likely to cap further upside on the stock. While the positive for the stock is progress on the divestment front, given announcement of a new policy, brokerages have taken a ‘neutral’ to ‘negative’ view due to the lack of clarity related to leasing of railway land for Gati Shakti terminals.
Mahindra and Mahindra (M&M)
The auto major on Thursday unveiled its first electric sports utility vehicle (SUV) called ‘XUV400’, which is based on the company’s successful internal combustion engine-driven XUV300. The XUV400 will be competing with Nexon EV of Tata Motors.
Jet Airways
Ahead of its re-launch, the airline has been hit by three top-level resignations. The three senior executives who have resigned include Captains Niraj Chandan (head of flight safety), Vishesh Oberoi (head of operations) and Sorab Variava (head of training). However, the Jalan-Kalrock consortium (JKC), which is preparing to launch the airline downplayed the exits.
Century Enk
Life Insurance Corporation of India offloaded 4.46 lakh equity shares or 2.04 percent stake in the company via open market transactions. With this, its shareholding in the company reduced to 3.45 per cent, down from 5.49 per cent earlier.
Nath Bio-Genes (India)
Authum Investment & Infrastructure has sold its entire 4.38 per cent shareholding in the company via open market transactions on August 24 and August 26.
KDDL
Elevation Capital V FII Holdings Ltd & Elevation Capital V offloaded a 2.04 per cent stake in the company via open market transactions on September 6. With this, their shareholding in the company reduced to 11.80 per cent, down from 13.84 per cent earlier.
PNC Infratech
The company has signed a concession agreement for a HAM project with National Highways Authority of India (NHAI) for a bid project cost of Rs 1,458 crore. This road project in Uttar Pradesh is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.
Kaveri Seed Company
Massachusetts Institute of Technology, and 238 Plan Associates LLC bought one lakh shares or 0.14 per cent stake in the company via open market transactions on September 6. With this, their shareholding in the company increased to 5.13 percent, from 4.96 per cent earlier.
Hatsun Agro Product
SBI Mutual Fund bought additional 15.2 lakh shares or 0.7 per cent stake in the company via open market transactions on September 6. With this, the mutual fund house increased its stake in the company to 5.6 per cent, up from 4.9 per cent earlier.
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