Indian stocks posted modest recovery on Tuesday after witnessing major correction in the previous session. At 11:11 am, the benchmark BSE Sensex was trading up 143.69 points, or 0.46%, to 31,533.76, while the Nifty 50 rose 77 .65 points, or 0.84%, to 9,275.05. Yes Bank, HDFC Bank, HAL, Grasim and IOC were among the key stocks in news today. Read on to know more:
Yes Bank: Yes Bank Ltd shares rallied by a whopping 73% after Moody’s upgraded the ratings for lender, changing outlook to ‘positive’.
HDFC Bank: HDFC Bank Ltd shares were down as much as 4.5% after the lender executed agreement for selling 19,650 equity shares in Softcell Technologies at Rs 43.55 per equity share.
HAL: Hindustan Aeronautics Ltd (HAL) shares advanced 3.6% after the company declared an interim dividend of 333% or Rs 33.25 per share of Rs 10 face value for FY20.
Grasim: Grasim Industries Ltd shares were trading flat after the Competition Commission of India (CCI) imposed penalty of Rs 301.61 crore in respect of its domestic Man-Made Fibre turnover.
IOC: Indian Oil Corp. Ltd (IOC) shares gained 4.2% after the company said it has raised Rs 2,995 crore through a privately placed debenture issue to fund its capital expenditure requirements.
CSB Bank: CSB Bank Ltd shares jumped 4.5% after the board approved the proposal to amend a few clauses in the Articles of Association of the bank. Also, it approved the proposal to merge 19 branches of the bank with the nearest branches of the bank.
Future Consumer: Future Consumer Ltd shares dropped 4.8% after the company announced that the payment of principal amount has been made on secured redeemable non-convertible debentures (NCDs) having a face value of Rs 1 lakh.
Bajaj Finserv: Bajaj Finserv Ltd shares declined 3.4% after shareholders approved up to 24% foreign portfolio investment (FPI) in the company.
Kotak Mahindra Bank: Kotak Mahindra Bank Ltd shares fell 3.4% after the board said it would meet on 17 March to consider and approve dividend on preference shares.