Adani Green, Hindalco, HDFC, ICRA Among Key Stocks in Focus Today
Adani Green Energy Ltd shares spiked 10% as the company signed securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy and Essel Infraprojects.
File image of Adani Group chairman Gautam Adani.
Indian markets erased early morning gains to trade in the negative territory on Friday, i.e. August 30. At 11 am, the benchmark S&P BSE Sensex was trading lower by 52.37 points, or 0.14%, at 37,016.56, while the Nifty 50 index was down 21.20 points, or 0.19%, to 10,927.10. Hindalco, Gruh Finance, HDFC, Adani Green, ICRA and Yes Bank were among the key stocks in news today. Read on to know more:
Hindalco: Hindalco Industries Ltd shares gained 4% after media reports said that the company-owned Novelis was set to secure European Union (EU) antitrust approval for its $2.6-billion bid for Aleris.
Gruh Finance: Gruh Finance Ltd shares shot up 8% after a media report said that India’s largest mortgage lender Housing Development Finance Corp. Ltd (HDFC) will sell 9.2% stake in the company. The sale of 67.4 million shares is expected to happen at a floor price of Rs 243 to Rs 249 apiece in the open market on Friday. HDFC shares were, meanwhile, trading flat.
Adani Green: Adani Green Energy Ltd shares spiked 10% as the company signed securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy and Essel Infraprojects.
ICRA: ICRA Ltd shares dropped as much as 7.8% after the ratings agency terminated the employment of Naresh Takkar as managing director over allegations of misconduct.
Yes Bank: Yes Bank Ltd shares were down over 3% ahead of the lender’s board meeting later in the day to consider fund raising and other business matters
PNC Infratech: PNC Infratech Ltd shares rose over 4% after the company bagged a national highway EPC project worth Rs 1,062 crore.
HDFC Bank: HDFC Bank Ltd shares rose 1.2% as the lender agrees to sell its entire stake of 10% in the equity share capital of Goods and Services Tax Network (GSTN) for a total consideration of Rs 1 crore to various state governments and union territories.
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