Indian stock markets opened in the green on Thursday, i.e. 21 November, but later erased initial gains to trade in the negative zone. At 10:45 am, the benchmark S&P BSE Sensex fell 74.30 points, or 0.18%, to 40,577.34, while the Nifty 50 index was down 24 points, or 0.2%, to 11,975.10. Zee Entertainment, BPCL, Bharti Airtel, UCO Bank, DHFL, Tata Motors, Coffee Day Enterprises and Reliance Capital were among the key stocks in news today. Read on to know more:
Zee Entertainment: Zee Entertainment Enterprises Ltd shares surged 18.5% after Essel Group said it is planning to sell a 16.55 stake in the company to financial investors.
BPCL: Shares of Bharat petroleum Corp. Ltd fell 3.2% after the Cabinet approved the privatisation of the state-owned oil marketing company. The government will sell its entire 53.29% stake in the company to a strategic buyer along with giving up management control.
Bharti Airtel: Bharti Airtel Ltd shares declined 2.6% even as the Cabinet late on Wednesday allowed telecom firms to defer spectrum payment to the government by two years.
UCO Bank: UCO Bank shares advanced nearly 20% after CMD Atul Kumar Goel told CNBC-TV18 that FY20 "will be a turnaround year" for the bank and that the next year would be a “golden year”.
DHFL: Dewan Housing Finance Corp. Ltd shares were trading flat after RBI issued order for supersession of the board of directors of the company and appointed R. Subramaniakumar as its administrator with immediate effect.
Tata Motors: Tata Motors Ltd shares gained 1.6% after Moody’s assigned a B1 rating to JLR’s 500 million euro proposed notes.
Coffee Day: Coffee Day Enterprises Ltd shares jumped 5% even as lenders invoked a 4.2% pledged stake of the company on 19 November.
Reliance Capital: Reliance Capital Ltd shares lost 5% after the Delhi High Court restricted the company from selling its approximately 4.5% balance stake in Reliance Nippon Life Asset Management Ltd.