Lakshmi Vilas Bank, Yes Bank, Indiabulls Housing Among Key Stocks in Focus Today
At 11:27 am, the S&P BSE Sensex was down 312.65 points, or 0.8%, to 38,509.92, while the Nifty 50 index fell 86.80 points, or 0.75%, to 11,425.60.
File photo of lakshmi Vilas Bank. (Twitter/ @GST_Accountant)
Indian stock markets were trading in the negative territory on Monday with heavy selling seen in banking shares.
At 11:27 am, the S&P BSE Sensex was down 312.65 points, or 0.8%, to 38,509.92, while the Nifty 50 index fell 86.80 points, or 0.75%, to 11,425.60. Lakshmi Vilas Bank, Yes Bank, Indiabulls Housing Finance, Gruh Finance, Bandhan Bank and Reliance Nippon were among the key stocks in news today.
Lakshmi Vilas Bank: Lakshmi Vilas Bank Ltd shares were locked in a 5% lower circuit after the Reserve Bank of India initiated prompt corrective action for the bank.
Yes Bank: Yes Bank Ltd shares cracked 13% despite the lender saying it received approval from the Reserve Bank of India to raise capital.
Indiabulls Housing Finance: Shares of Indiabulls Group companies tumbled after the Delhi High Court admitted petitions to probe Indiabulls Housing Finance, which cracked 27%.
Manappuram Finance: Manappuram Finance Ltd shares fell 1.7% after the NBFC approved issue of non-convertible debentures (NCDs) worth Rs 215 crore on a private placement basis
Gruh Finance, Bandhan Bank: Gruh Finance Ltd shares rose 2.2%, while Bandhan Bank jumped 2% after the NCLT Kolkata approved the scheme of amalgamation of Gruh Finance into and with Bandhan Bank under Sections 230 to 232 of the Companies Act, 2013.
Reliance Nippon: Reliance Nippon Life Asset Management Ltd shares gained over 3% after Nippon Life Insurance Company of Japan completed the acquisition of 75% stake in the company.
Punjab and Sind Bank: Punjab and Sind Bank Ltd shares were down 1.8% even as the lender received Rs 787 crore from the government in connection with the capital infusion.
Kajaria Ceramics: Kajaria Ceramics Ltd advanced 3.6% as its wholly-owned subsidiary Kajaria Tiles Private Ltd started the commercial production of tiles on 29 September.
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