Benchmark indices Nifty and Sensex were trading 0.8% up at fresh all-time highs in afternoon trade today. M&M, Sun Pharma, IndusInd Bank, Infosys and Hero MotoCorp are among the top gainers on the Nifty, while losers were Adani Ports, Adani Enterprises, HDFC Life, Apollo Hospitals and BPCL
Shares of HDFC Asset Management Company (HDFC AMC) surged around 12% today a fresh 53-week high of Rs 2,349.90. This rise in AMC stock is mainly due to the outcome of recent SEBI board meeting in which the proposed reduction in expense ratio has been deferred. This has sparked buying buzz among AMC stocks as market is expecting that the profitability of the AMCs may remain stable in the near term
ICICI Securities share price fell over 3% in the early trade on Friday after the company approved the draft scheme of arrangement for delisting of equity shares and announced the share swap ratio. The stock fell as much as 3.4% to Rs 593.40 apiece on the NSE
Shares of Multi Commodity Exchange of India (MCX) cracked over 12% in trade today after the company announced it had extended the support services being rendered by its existing software vendor, 63 Moons Technologies for 6 months beginning from July 1, 2023
Shares of IndusInd Bank jumped more than 3% in trade today to hit an intraday high of Rs 1,376.20 on NSE, after the company approved the appointment of Vivek Bajpeyi as the chief risk officer (CRO) with effect from June 28, 2023, till September 30, 2025. The board appointed Arun Khurana, who is currently the deputy CEO, as an executive director i.e. whole-time director of IndusInd Bank for three years
Shares of PowerGrid rose on Friday to hit a fresh 52-week high of Rs 259.70 on NSE as the company has received board approval for three investment proposals worth Rs 389 crore. PowerGrid will invest Rs 164.38 crore for establishment of dedicated telecom network for NTAMC, Rs 115.09 crore for Western region expansion scheme – XXXIII – Part A and Rs 109.47 crore for ICT augmentation at Navsari (new) associated with integration of additional 7 GW RE power from Khavda RE park under Phase-III
Share of UTI Asset Management was up nearly 7% to Rs 774.95, Aditya Birla Sun Life AMC 6% at Rs 391 and Nippon Life Asset Management added nearly 13% to Rs 283 on NSE. The surge came after the market regulator deferred its decision to rationalise the total expense ratio (TER), or the expenses that mutual fund (MF) schemes can charge their investors
Shares of Adani Transmission Ltd. fell as much as 5% to hit an intraday low of Rs 770.55 on NSE after 3.8 crore shares or 3.45% of the company's total equity exchanged hands in three large trades on Friday. The shares exchanged hands at an average price of Rs 795 apiece, taking the total value of the transaction to Rs 3,103 crore, according to exchange data
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position