Indian stocks were trading in the positive territory on Thursday, i.e. September 5, as heavy buying was seen in the metal stocks. At 10:53am, the benchmark S&P BSE Sensex was up 108 points, or 0.29%, to 36,832.78, while the Nifty index rose 56.65 points, or 0.5, to 10,901.30. ONGC, Tata Motors, United Bank of India, PNB, Wipro and Power Grid were among the key stocks in news today:
ONGC: Shares of Oil and Natural Gas Corp. Ltd (ONGC) shot up over 9% after the company issued a clarification on the fire accident that took place on 3 September at its Uran processing unit, saying the impact of fire in local vicinity was nil and the offshore crude supply would not be affected.
Tata Motors: Tata Motors Ltd jump over 4.5% after its subsidiary Jaguar Land Rover (JLR) said it was planning to launch 30 new or revamped vehicles in China in the next two years to improve sales.
United Bank: United Bank of India shares slump as much as 5% after the bank decided not to discuss amalgamation with Punjab National Bank at its 6 September board meeting
Wipro: Wipro Ltd shares rise 1% as the company secured a strategic seven-year engagement, valued at $300 million, from ICICI Bank to provide a comprehensive suite of services
PNB: Punjab National Bank shares advance 3.3% after rating agency Moody’s upgraded the outlook on the lender to ‘positive’ from ‘stable’ after its amalgamation with OBC and United Bank of India.
Power Grid: Power Grid Corp. of India Ltd shares gain 3.3% after the company was declared as the successful bidder to establish transmission system with construction of 400 kV sub-station near Guna and construction of 220 kV sub-station near Bhind on BOOM (build, own, operate and maintain) basis.
Reliance Capital: Reliance Capital Ltd shares inch up 2% after lenders appointed Grant Thornton to conduct a forensic audit of two Reliance Capital arms--Reliance Home Finance and Reliance Commercial Finance.
MCX: Multi Commodity Exchange of India Ltd (MCX) shares fall as much as 3.8% after the exchange said it has tied-up with China’s Zhengzhou Commodity Exchange (ZCE) for co-operation and the exchange of information.