#CREDITACCESS GRAMEEN SHARE

[banknomics]

CreditAccess Grameen Limited NCD IPO 2023

CreditAccess Grameen Limited, headquartered in Bengaluru, stands as a prominent Indian micro-finance institution. According to MFIN India, this company holds the distinction of being India’s largest NBFC-MFI concerning the gross loan portfolio as of March 2023.

The foundation of the company’s success lies in its customer-centric approach, a diverse array of product offerings, and a finely tuned product delivery and collection framework. This synergy has led to the achievement of commendable customer retention rates and minimal credit costs.

A core aspect of CreditAccess Grameen Limited’s operations revolves around catering to the needs of customers residing in rural pockets of India. These regions are often underserved by the formal banking sector, thereby presenting an untapped potential for providing micro-loans.

As of June 30, 2023, the company has established its presence across 353 districts in 14 states (namely Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Kerala, Odisha, Chhattisgarh, Goa, Bihar, Jharkhand, Gujarat, Rajasthan, Uttar Pradesh, and West Bengal) and one union territory (Puducherry) in India. This expansive network comprises 1,826 branches and a dedicated workforce of 17,391 employees. Notably, the company caters to an active consolidated customer base of 44.2 lakhs, as of June 30, 2023.

[ryz-market]

CreditAccess Grameen shares down 6% after Q2 profit down 46%

[purpleloveenthusiast]

‘We want to partner banks to gain foothold in home loans’ | Mint

India’s largest microlender CreditAccess Grameen Ltd is seeking to diversify its asset base by increasing the share of its non-microfinance book through housing, unsecured business and gold loans. After being elevated as chief executive officer in August, Ganesh Narayanan is looking to raise the share of non-microfinance loans from the current 1% to 12-14% in 4-5 years. The lender will also look…

[newsbunddle]

Early provisioning to lower asset quality pressure for CreditAccess

Early provisioning to lower asset quality pressure for CreditAccess

Some analysts are bullish on the stock given the accelerated provisioning and improving business outlook. Synopsis The return of its loan disbursement growth to pre-COVID levels and last week’s fund-raising are likely to improve the company’s performance in the coming quarters. ET Intelligence Group: The stock of microfinance lender CreditAccess Grameen has lost 15 per cent over the past three…

[classyfoxdestiny]

ASK AJIT: Are these stocks good to hold for one year?

ASK AJIT: Are these stocks good to hold for one year?

‘Should I hold , exit or accumulate in 1-3 months short term and 1+ year long term?’

  Ajit Mishra, vice president, Research, Religare Broking, answers your queries:

Chidambarasamy Manickam: Can you let me know if I should hold or exit the below scripts please?

Ajit Mishra:

Company No of shares Price Recommendation HCL Info Systems 1,905 Rs 18.50 Exit Indian Railway Finance Corporation 575 Rs 26 Hold ONGC 85 Rs 145 Hold Sun TV 255 Rs 566 Exit South Indian Bank Limited 3,360 Rs 18.50 Prefer ICICI Bank TV18 Broadcast Limited 1,575 Rs 36 Exit Yes Bank 225 Rs 55 Exit if not under lock-in

  Sriparna Mondal: I have the following stocks for the past 4-5 years. Other than the ETF, almost all are down 50 per cent from the purchase price. Does it make sense to hold the stocks any longer or how should I exit and what stocks I can buy in lieu? Please advise.

Ajit Mishra:

Company No of shares Price Recommendation BSE 90 Rs 1,013 Hold ICICI ETF 1,152 Rs 113 NA (Which ETF?) JK Tyre 250 Rs 173 Hold SML Isuzu 50 Rs 1,006 Prefer Ashok Leyland Tata Motors 100 @442 Prefer Ashok Leyland

    Deepti Ambadipudi: Bought 100 shares of Bambino Agrotech at Rs 211. Should I hold, exit or add? Please guide me. 

Ajit Mishra: Exit

  Srinu Kodi: I have been seeing your opinion on many people’s portfolios and I am thankful for your unbiased review.

Recently, I have purchased these stocks with some conviction, wrt long term like 2-3 years as of now or more. I would like to have your view once if possible.

I am not in panic mode looking at market conditions as of now as I know these are quality stocks I have invested in.

Note: I purchased Gland Pharma for the short term recently as I see some potential till the time Covid is there, as it is doing vaccine manufacturing for Sputnik. I am thinking about profits for Gland Pharma.

Could you please tell me if I can hold this or sell after it reaches Rs 2,800 level? Please tell me if I can hold this for the long term.

Ajit Mishra: Yes, one can hold for long term

  Company No of shares Price Recommendation AUBANK 20 Rs 1,008.40 Hold BAJFINANCE 3 Rs 4,411.30 Hold DFM 56 Rs 333.86 Prefer Britannia DIXON 14 Rs 3,643.18 Hold DMART 9 Rs 2,854.99 Hold GLAND 39 Rs 2,542.81 Hold HDFCBANK 15 Rs 1,399.54 Hold ICICIGI 29 Rs 1,354.63 Hold INDIAMART 5 Rs 7,873.97 Hold JUBLFOOD 7 Rs 2,757.75 Hold MCDOWELL-N 51 Rs 513.71 Hold MUTHOOTFIN EVENT 17 Rs 1,129.30 Hold NAUKRI 10 Rs 4,622.06 Hold RELIANCE 12 Rs 1,911.23 Hold SYNGENE 70 Rs 602.38 Hold

  Sukanta Mandal: Need your suggestion on these — whether to hold, exit or accumulate — in 1-3 months short term and 1+ year long term. Awaiting your thoughts and views.

Ajit Mishra:

Company Recommendation Ashok Leyland Hold JK Tyre Hold Bank of Baroda Prefer SBI HDFC bank Hold Shree Digvijay Cement Prefer Ultratech/Ambuja Coal India Exit Gujarat Mineral Development Co Hold Indian Railway Catering and Tourism Corporation Hold Jaiprakash Power Exit NTPC Hold NHPC Hold HFCL Ltd Hold United Spirits Hold EIH Exit JSW Energy Ltd Hold

  Rohith Adiga: I am a starter in the stock market and trading from the last six months. Below is the list of stocks I have purchased. Advise me about buying additional stock, or holding or selling.

I am also looking for a short term plan of 6-10 months starting from June. Please suggest from my existing stock list or a new stock for short term gain. Also would like to know when to purchase the additional stock, when it’s growing or when it dips.

For example, I purchased 50 shares of Tata Motors @ Rs 124, then added another 25 when it went to @ Rs 185 and again purchased 10 @ Rs 290. Now my average pricing is @ Rs 244.

Ajit Mishra:

Company No of shares Price Recommendation HAL 5 Rs 1,100.96 Hold BIOCON 1 Rs 459 Hold ZEEL 5 Rs 224.4 Exit ITC 5 Rs 210.45 Hold HDFCBANK 1 Rs 1,377.60 Hold and buy on dips L&TFH 15 Rs 84.62 Hold ASIANPAINT 3 Rs 2,039.53 Hold HCLTECH 6 Rs 758.96 Hold AXISBANK 6 Rs 547.89 Hold RELIANCE 5 Rs 1,720.75 Hold TATAMOTORS 25 Rs 244.71 Hold for 2-3 years at least KOTAKBANK 5 Rs 1,369.65 Hold INFY 10 Rs 972.27 Hold TCS 5 Rs 2,318.60 Hold BAJFINANCE 2 Rs 3,636.00 Hold

  Jasminkumar Maheshbhai Gajjar: I have been following your posts on a regular basis. I have invested for long/mid-term. Request you to advise for the below stocks held by me.

Ajit Mishra:

Company No of shares Price View Recommendation Alok Industries 350 Rs 22.78 Mid-term Exit Bandhan Bank 50 Rs 348.43 Long-term Hold Bharat Elec Ltd 75 Rs 134.71 Mid-term Hold Biocon 30 Rs 410.81 Mid-term Hold Burger King 50 Rs 132.38 Long-term Hold Cyient 15 Rs 690.22 Mid-term Hold Firstsource Sol 80 Rs 116.64 Mid-term Hold India Cements 60 Rs 168.43 Mid-term Hold Inox Leisure 30 Rs 332.34 Mid-term Hold J K Tyre 50 Rs 118.32 Long-term Hold Laurus Labs 20 Rs 468.02 Mid-term Hold Manappuram 50 Rs 159.96 Mid-term Hold Motherson sumi 40 Rs 236.75 Mid-term Hold NMDC 50 Rs 157.46 Long-term Hold Spicejet 130 Rs 86.35 Long-term Hold Sun Pharma Adv 50 Rs 183.02 Mid-term Hold Sundaram Fin ltd 6 Rs 2,528.45 Long-term Hold Tata Chemicals 15 Rs 690.82 Long-term Hold Tata Power 75 Rs 92.85 Long-term Hold Tata Steel BSL 100 Rs 96.18 Long-term Hold Time Technopl 75 Rs 84.34 Mid-term Exit Zen Tech 100 Rs 86.60 Long-term Exit

  Rajkumar Dhyani: Namaskar. I’m a small investor who looks for mid and small-cap scrips to invest in. I can invest Rs 5-10K monthly in stocks. I’m looking for a long-term vision, probably 1-2 years vision. Can you please suggest few important scrips which match my requirement?

Ajit Mishra: One can invest in Finolex Industries, Ashok Leyland, INOX Leisure, Exide Industries, Kansai Nerolac.

  Marshall: Please review my portfolio, if I can hold, accumulate or exit from these stocks. I’m not sure of the period if I have to hold these stocks. Please advise.

Ajit Mishra:

Company No of shares Price Recommendation Balaji Amines 20 10 @ Rs 824 and 10 @ Rs 2,500 Hold Laurus Labs 100 50 @ Rs 400 and 50 @ Rs 490 Hold Sun Pharma 10 Rs 60 Hold Wock Pharma 10 Rs 590 Hold Eicher Motors 10 Rs 2,520 Hold Titan 10 5 @ Rs 1,126 and 5 @ Rs 1450 Hold Tech Mahindra 10 Rs 1,000 Hold TataSTLBSL 50 Rs 100 Hold Poly Cab 10 Rs 1,480 Hold SUN TV 10 Rs 520 Exit Adani Power 100 Rs 100 Exit Larsen and Turbo 10 Rs 1,450 Hold

  Rane Tushar: I hold following stocks. Which should I hold and which should I exit?

Ajit Mishra:

Company No of shares Recommendation IOB 60 Exit URJA 5,000 Exit TTML 700 Hold for 2-3 years DHFL 203 Exit GMBREW 85 Hold GRAPHITE 96 Hold NOCIL 942 Hold PRAKASH 965 Exit

  Sunil: I want to invest Rs 2 lakhs rupees for long term. Please suggest and guide me about some good equity shares.

Ajit Mishra: Bharti Airtel, ICICI Bank, Nippon AMC, Britannia Industries, Maruti Suzuki

  GOPAL CHAKRABORTY: I am holding the following mentioned stocks for the long term. Kindly advise.

Ajit Mishra:

Company No of shares Price Recommendation Tata Steel 220 Rs 470 Hold Suzlon Energy 2,300 Rs 5.70 Exit Tilaknagar Industries 600 Rs 72 Exit Clariant Chemicals 59 Rs 598 Hold NCC Ltd 213 Rs 67 Exit Suven Lifescience 175 Rs 62 Hold HCC Ltd. 180 Rs 57 Exit Andhra cements 1,200 Rs 23 Prefer Ultratech Educomp 2,200 Rs 190 Exit Yes Bank 2,500 Rs 17.50 Exit Gufic Bioscience 135 Rs 167 Hold

  Shyam Kannacham Veettil: I would like to have hold/exit strategy for following stocks. I can hold long term

Ajit Mishra:

Stock Unit holding Average price Recommendation Bandhan Bank 30 Rs 303 Hold Federal Bank 500 Rs 57 Hold HDFC AMC 60 Rs 1,733 Hold HDFC Standard Life 260 Rs 300 Hold SBI Card 30 Rs 770 Hold Yes bank 1,000 Rs 116 Exit if not under lock-in. Dixon Tchnology 100 Rs 917 Hold Havells 600 Rs 302 Hold V guard 550 Rs 185 Hold L&T 105 Rs 1,117 Hold Tata consumer products 160 Rs 367 Hold Varun Beverages 380 Rs 435 Hold Jubilant food 25 Rs 1,846 Hold First source solutions 1,000 Rs 55 Hold Tata elxi 30 Rs 851 Hold IRCTC 20 Rs 1,309 Hold Berger Paints 90 Rs 560 Hold Petronet LNG 925 Rs 115 Hold Adani Port 100 Rs 230 Hold

  Rajesh Nair: I have 50 shares of Dixon Technologies at an average price of Rs 3,742. If I am looking at holding these for a horizon of three years, should I hold/accumulate or exit these ?

Ajit Mishra: Hold the stock. Accumulate on dips only.

  Nitesh Shah: I have these shares. Can you advise if I can hold, sell or buy more?

Ajit Mishra:

Stock Average of investment price Recommendation Aarvee Denim Rs 19.4 Exit AB Capital Rs 59.9 Exit Aditya Birla F Rs 136 Prefer Titan AFL Rs 13.7 Exit Aishwarya Tech Rs 34.3 Exit Albert David Rs 464 Exit Alok Industries Rs 60.9 Exit Amara Raja Batteries Rs 873 Hold Arvind Rs 55.8 Exit Arvind Smart Rs 91 Exit Ashtavinayak Rs 6 Exit Aster DM Health Rs 174 Hold Avenue Supermarts Rs 299 Hold Bajaj Consumer Rs 316 Hold Bandhan Bank Rs 340 Hold Bank of Baroda Rs 46.5 Exit BEML Rs 762 Exit Berger Paints Rs 160 Hold Bharti Airtel Rs 537 Hold BHEL Rs 37.5 Exit Binani Cement Rs 85 Exit Canara Bank Rs 168 Exit Cigniti Tech Rs 430 Exit Cipla Rs 474 Hold Coal India Rs 143 Exit Cosmo Films Rs 633 Exit CreditAccess Grameen Rs 702 Hold Cummins Rs 732 Hold Dalmia Bharat Rs 789 Hold Deepak Nitrite Rs 668 Hold Digjam — BSE Rs 26.4 Exit Diligent Media Re 1 Exit Dishman Carbogen Rs 161 Hold Divis Labs Rs 2,484 Hold D-Link India Rs 113 Exit Dollar Industries Rs 450 Hold Endurance Technologies Rs 1,444 Hold Eveready Industries Rs 374 Hold Fortis Health Rs 108 Hold Ganesha Ecosphere Rs 18.7 Exit General Insurance Rs 456 Prefer ICICI Lombard Glenmark Rs 515 Hold Godawari Power Rs 201 Exit Granules India Rs 343 Hold Grasim Rs 667 Hold GTL Infra

Rs 80.5

Exit GV Films Rs 7.75 Exit GVK Power Rs 35.1 Exit HBL Power Rs 57.7 Exit HCL Tech Rs 348 Hold HDFC Rs 1,217 Hold HDFC Life Rs 688 Hold HFCL Rs 27.9 Hold Hindustan Construction Rs 43 Exit Hindustan Zinc Rs 218 Hold HUDCO Rs 82.9 Hold ICICI Lombard Rs 661 Hold ICICI Prudential Rs 402 Hold IDFC First Bank Rs 57.8 Exit IFCI Rs 18 Exit IKF Tech – BSE Rs 6.93 Exit Indian Acrylics Rs 10 Exit Indo Count Rs 85.5 Exit Indostar Capita Rs 572 Hold Infomedia Press Rs 24.4 Exit Infosys Rs 555 Hold Interworld Rs 3.89 Exit IOB Rs 42.4 Exit IOC Rs 125 Hold Ion Exchange Rs 677 Hold IRFC Rs 26 Hold ITC Rs 216 Hold Jenson Nicholson Rs 16.2 Exit Jindal SAW Rs 80.8 Hold JSW Steel Rs 228 Hold Kajaria Ceramics Rs 422 Hold L&T Finance Rs 82.8 Hold Larsen Rs 837 Hold LIC Housing Finance Rs 353 Hold M&M Financial Rs 165 Hold Maharashtra Seamless Rs 500 Exit Marathon Realty Rs 67.6 Exit Maruti Suzuki Rs 6,632 Hold Max Healthcare Rs 78.9 Hold Max India Rs 391 Hold Mirc Electronic Rs 51.1 Exit MOIL Rs 156 Hold Munjal Showa Rs 61.4 Exit Nahar Poly Film Rs 48.1 Exit National Steel Rs 27 Exit Network 18 Rs 33 Exit New India Assurance Rs 400 Prefer HDFC Life Newgen Software Rs 245 Hold NHPC Rs 31.5 Hold Nippon ETF Gold Rs 35.5 Hold NOCIL Rs 157 Hold NTPC Rs 146 Hold ONGC Rs 139 Hold Paramount Communications Rs 28 Exit Pennar Industries Rs 23.3 Exit Pidilite Industries Rs 1,773 Hold Power Grid Corporation Rs 145 Hold Precision Electricals Rs 14.7 Exit Precision Wires Rs 80 Exit Raj Oil Mills Rs 10 Exit Rajapalayam Rs 348 Hold RBL Bank Rs 526 Hold Reliance Rs 1,482 Hold Reliance Communications Rs 2.55 Exit Reliance Power Rs 232 Exit Rico Auto Rs 38 Exit Saregama India Rs 767 Exit SBI Rs 270 Hold SBI Life Insurance Rs 700 Hold SGN Cable Rs 0.42 Exit Siti Networks Rs 32.5 Exit South Indian Bank Rs 25.8 Exit Sumeet Industries Rs 14.2 Exit Sun Pharma Rs 893 Hold TAEL Rs 0.24 Exit Talbros Auto Rs 307 Exit TCS Rs 198 Hold Tech Mahindra Rs 574 Hold Terruzzi Fercalx Rs 50.7 Exit Tirupati Foam Rs 10 Exit TV18 Broadcast Rs 48.1 Hold Unitech Rs 1.95 Exit Usha Martin Rs 1.25 Exit Usha Martin Edu Rs 1.25 Exit UTI AMC Rs 554 Prefer HDFC AMC or Nippon AMC Varroc Engineer Rs 421 Hold Vascon Engineer Rs 46.7 Exit Visa Steel Rs 53.5 Exit VRL Logistics Rs 432 Hold Wipro Rs 254 Hold Zee Media Rs 41.1 Exit

  Please mail your questions to getahead@rediff.co.in with the subject line ‘Ask Ajit’, along with your name, and Mr Ajit Mishra will offer his unbiased views.

Disclaimer: This article is meant for information purposes only. This article and information do not constitute a distribution, an endorsement, an investment advice, an offer to buy or sell or the solicitation of an offer to buy or sell any securities/schemes or any other financial products/investment products mentioned in this QnA or an attempt to influence the opinion or behaviour of the investors/recipients.

Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.

Feature Presentation: Ashish Narsale/ Rediff.com

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[nainasinghthings-blog]

Here Are Stocks That Are In The Focus Today:

Wipro: Company appointed Azim Premji as Non-Executive Director for 5 years and re-appointed Rishad Premji as Whole-Time Director. Azim Premji to retire from his current position as Executive Chairman & MD.

Linde India: Board has accepted the resignation of Moloy Banerjee as Managing Director and Indranil Bagchi as Chief Financial Officer of the company.

IndusInd Bank: India Ratings & Research reaffirmed ratings on Infra Bonds issuance of Rs 2,000 crore at AA+/Stable and Additional Tier I Bonds issuance of Rs 4,000 crore at AA/Stable.

Bombay Rayon Fashions: Company has received resignation from Arunachalam Arumugham, Independent Director.

Alembic Pharma to consider and approve the proposal for issue of non-convertible debentures on private placement basis on June 12

GHCL chairman clarified that there is no truth in the speculative reports circulating in the media pertaining to divulgence of Swiss Bank account associated with me and investigations there to

Reliance Life Insurance Company making an open offer to acquire 13.82 crore shares of Reliance Nippon Life Asset Management at Rs 230 per share

Cyient announces a strategic investment in rail Cybersecurity Company Cylus

Speciality Papers: Nemchand Gala resigned as Managing Director and company appointed Hiren Boricha as the Additional and Managing Director.

CreditAccess Grameen: Company completed a securitization of Rs 110.35 crore, the first securitization transaction initiated during the FY-2019-20.

Indiabulls Real Estate – Company’s promoters’ strategy to focus on financial services in the long run, the promoters intend to dispose-of up to 14% of the fully paid-up share capital of the company to third-party investors

Blackstone may buy Indiabulls Real Estate promoters’ stake for around USD 1 billion – PTI

Bharti Airtel: Oyo Hotels & Homes and Airtel partner to launch Oyo Store on Airtel Thanks App.

Sagar Cements Consolidated cement production for May up 12.91% at 2,77,146 MT versus 2,45,454 MT and cement sales up 13.29% at 2,75,330 MT versus 2,43,024 MT, YoY

Hindustan Petroleum Corporation: Board appointed Shri Sunil Kumar as government nominee director on the board of HPCL.

PAE: Pritam A Doshi resigned as Chief Financial Officer (CFO) of the company.

JSW Steel: Company has agreed to acquire the entire issued and paid-up share capital of Piombino Steel Limited.

Jai Corp: Board appointed Priyanka S Fadia and Kaushik Deva as additional directors of the company.

Network 18 Media & Investments TV18 Home Shopping Network has raised a fresh round of funding from Skyblue Buildwell After the investment, Skyblue holds 82.64% of HomeShop18, becoming the holding company and promoter of HomeShop18 With this investment, HomeShop18 has ceased to be a subsidiary of NW18 HSN Holdings Plc and an associate of Network18 Media & Investments

Ruchira Papers: CRISIL has assigned credit rating of BBB+/Stable to long term facilities and A2 to short term facilities of the company.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Get The Latest Stock Updates, Equity Tips, Share Market Tips, Stock Market Tips, Intraday Tips  @

[tradeniveshinvestmentadvisor]

Stocks In The News | Trade Nivesh

Trade Nivesh

Maruti Suzuki, Tata Motors, Cipla, Indoco Remedies, Welspun Corp, Embassy Office

IOL Chemicals | Inox Leisure | Titan Company | GAIL | BHEL | Cyient and SRF are stocks which are in the news today.

Here are stocks that are in the news today:

Listing: Embassy Office Parks REIT (IPO)

Auto sales: Maruti Suzuki, Ashok Leyland, Escorts, Eicher Motors, etc in focus.

Dr Reddy's Labs: German drug regulator cleared Duvvada formulations unit.

Welspun Corp: Company announced value unlocking of approximately Rs 940 crore through the divestment of its plate and coil mill division (PCMD) and its 43 MW power division.

Cipla: USFDA issued 8 GMP observations and 10 observations pertaining to the PAI for a novel technology product slated for approval beyond 2024 while inspecting Kurkumbh plant.

Shriram Transport board meeting on April 30, to consider raising of funds

Vikas WSP: Company received sanction for 80 percent principle outstanding amount of Rs 97.75 crore of both these banks being Rs 78.20 crore to be paid by ACRE and 20 percent amount Rs 19.55 crore to be paid by the promoters aggregating to Rs 97.75 crore in all. Punjab National Bank account has already been operating as standard w.e.f. April 2017.

Kolte-Patil Developers: Board declared interim dividend of Rs 1.40 per share for the financial year 2018-19.

Havells India started commercial production of air conditioners at its Ghiloth plant

Edelweiss Financial Services: Company appoints Dr Ashima Goyal and Anita George as independent directors.

CreditAccess Grameen: Company completed a securitization of Rs 93.83 crore. With this transaction, it completed seven securitization and four Direct Assignment transactions totaling to Rs 1,667.05 crore in FY19.

Titan Company: Company increased its shareholding in subsidiary Carat Lane Trading Private Limited from 66.39 percent to 69.47 percent.

Jubilant Foodworks' director Ramni Nirula resigns

Wipro - NCLT approved the scheme of amalgamation for the merger of wholly owned subsidiaries

Inox Leisure: Company commenced commercial operations of a multiplex cinema theatre taken on Leave and License basis, in Chennai. The said multiplex cinema theatre has 8 screens and 1,820 seats.

J&K Bank transferred 4.11 crore shares of PNB MetLife India Insurance Company to Oman India Joint Investment Fund II for a total consideration of Rs 185 crore

Cyient: Cyient Insights LLC, USA, a step down subsidiary of the company through Cyient Insights Private Limited, has been dissolved.

IOL Chemicals: Board allotted 6,82,000 equity shares of Rs 10 each at a premium of Rs 195 per share to promoter Towels Enterprises Limited.

Apollo Pipes: Virendra Singh Verma resigned from the post of CEO of the company.

Vijay Kelkar resigned from the directorship of the Lupin effective March 28, 2019.

Gujarat Gas: India Ratings and Research revised company's outlook to positive from stable while affirming its long-term issuer rating at AA.

Moody's assigns (P)Baa3 rating to IndusInd Bank's Medium Tcrm Notes (MTN) Program

Tata Motors: Company sold its shareholding in TAL Manufacturing Solutions to TASL at an enterprise value of Rs 625 crore for the aerospace business and acquired non aerospace business from TAL at a value of Rs 10 lakh.

Karnex Microsystems: Board approved further investment in Avant-Garde Infosystems Inc., USA a 100% wholly owned subsidiary.

Zenith Fibres: Board approved buyback of upto 5.5 lakh equity shares at a price of Rs 55 per share, aggregating to Rs 3.025 crore.

Lakshmi Vilas Bank revised MCLR w.e.f. April 1

Garden Reach Shipbuilders & Engineers: Company delivered its 100th Warship, a Landing Craft Utility (LCU), L-56, to the Indian Navy.

GAIL, BHEL: Companies signed MoU for development of solar based power project.

Mishra Dhatu Nigam: Company handed over bullet proof vehicles to Central Armed Police Force at Midhani.

Muthoot Capital Services: Company completed a securitisation transaction of Rs 38.86 crore. With this transaction, the company has so far raised total funds of Rs 783.30 crore through securitization / direct assignment transactions during the FY19.

CONCOR inaugurates its first distribution logistics center at Ennore, Chennai

Mahindra & Mahindra: MSPE URJA SRL with registered seat in Rovereto, Trentino, Italy, is incorporated in Rome, Italy as a wholly owned subsidiary of Mahindra Susten Private Limited, which is a wholly owned subsidiary of Mahindra Holdings Limited, which is a wholly owned subsidiary of the company.

SRF: Gujarat Pollution Control Board had issued directions under Water (Prevention and Control of Pollution) Act to the company to close the operations of its industrial plant at Dahej, Gujarat.

Blue Coast Hotels: Company announced acquisition of 8.5 crore equity shares from IFCI Limited in subsidiary Silver Resort Hotel India.

Rushil Decor has received a closure intimation from Gujarat Pollution Control Board (GPCB) to stop the Manufacturing process of one of the Laminate Sheet manufacturing units

Reliance Capital: ICRA revised its rating to A2 (on rating watch with negative implications) for the short-term debt programme of the company.

Astec Lifesciences: ICRA upgraded / re-affirmed credit ratings for Rs 455 crore line of credit (LOC) and Rs 100 crore commercial paper programme of the company.

Darjeeling Ropeway Company: Company bagged sub-contract for construction of 24 shades for district police offices/units at Ahmedabad and Surat City worth of Rs 2.52 crore, and sub-contract for repair and maintenance of 73 boats used by State Disaster Recovery Force, Emergency Response Centre, Municipal Corporation and Gujarat District collectively. The total contract amount is Rs 71.9 lakh.

Mishra Dhatu Nigam - Handing over of Bullet Proof Vehicles to Central Armed Police Force at MIDHANI

Crompton Greaves Consumer Electricals: CRISIL revised the credit rating of non-convertible debentures of company.

JK Tyre: Board alloted 1,94,17,400 equity shares to the constituents of the promoter group of the company on preferential basis.

Phillips Carbon Black: ICRA re-affirmed the long-term rating for the captioned Line of Credit (LOC) at AA-. The outlook on the long-term rating is revised from stable to positive.

Galaxy Surfactants: Board declared interim dividend of Rs 5 per share for the financial year 2018-19.

Suryalata Spinning Mills: Company successfully installed and completed trailes on 22,000 spindles at Kalwakurthy Unit. Consequent to this capacity expansion, the total capacity of spindles of the company has been increased from 93,000 to 1,15,000.

Virinchi: Company announced operational readiness of additional 50 beds of Banjara Hills facility in Hyderabad taking the operational capacity to 400 beds.

Gayatri Highways' subsidiary terminated its concession agreement with National Highways Authority of India (NHAI) on the basis of Force Majeure (Political event)

Indian Bank: Department of Financial Services, Ministry of Finance has issued notification for amalgamation of Pallavan Grama Bank (sponsored by Indian Bank) and Pandyan Grama Bank (sponsored by Indian Overseas Bank) in Tamil Nadu into a single regional rural bank which shall be called as Tamil Nadu Grama Bank with its head office at Salem under the sponsorship of Indian Bank.

SRF in process to close the operations of its industrial plant at Dahej

IOL Chemicals: Company made the pre-payment of term loan of Rs 20.05 crore due to banks in addition to regular payment schedule.

HEG: Company announced completion of extinguishment/destruction of a total of 13,63,636 equity shares of company after buyback.

Havells India: Company started commercial production of air conditioners at its Ghiloth plant.

Williamson Magor & Company: Company announced acquisition of 20,11,500 equity shares of Rs 10 each of Williamson Financial Services.

Rushil Decor: Gujarat Pollution Control Board (GPCB) issued notice to stop manufacturing process of one of the laminate sheet manufacturing units.

JM Financial: Company entered into a sale and purchase agreement for acquiring equity shares of JM Financial Asset Reconstruction Company Limited , a subsidiary of the company. With the acquisition, the company's shareholding in JMFARC has increased to 59.25 percent from 57.07 percent.

GMR Infra - Cancellation of 4 series Optionally Convertible Debenture (OCDs) by company on March 28

Inox Leisure: Company commenced the commercial operations of a Multiplex Cinema Theatre operated on lease basis in Bhubaneswar. The said multiplex cinema theatre has 3 screens and 609 seats.

Ugar Sugar Works: Company is already holding 48.20 percent stake in Ugar Theatre Pvt Ltd and now again has purchased up to 99 percent stake in Ugar Theatre Pvt Ltd.

Amber Enterprises: Company extended the timeline to complete the acquisition of balance stake of 51 percent in Ever Electronics by June 30, 2019 in one or more tranches.

JSW Energy: Board after careful evaluation decided not to pursue electric vehicle business and maintain capital cushion for growth opportunities in power and other related businesses.

Jubilant Life Sciences: Company and IFC Mutually agree for settlement of zero coupon convertible loan.

Indoco Remedies: USFDA cleared the sterile manufacturing facility of finished dosages, located at Goa (Plant II).

CyberTech Systems and Software: Overseas direct investment of $0.2 million is made in subsidiary Spatialitics LLC, Delaware, USA.

Grasim Industries: Company acquired Soktas India for Rs 135 crore.

MCX India: Board approved the appointment of PS Reddy as MD & CEO of the company.

Vadilal Industries: Company said the agenda to re-appoint Rajesh Gandhi and Devanshu Gandhi as Managing Directors of the company was not passed unanimously. It was further resolved to appoint a professional Managing Director/Chief Executive Officer/Manager for the company. Rajesh Gandhi and Devanshu Gandhi will continue to work for the company as a director of the company without any remuneration.

Lyka Labs: Company entered into One Time Settlement agreement with the Bank of Maharashtra and arranged to make an upfront payment of Rs 11 crore as settlement amount and Rs 6.49 lakh as processing fees to the bank.

Sadbhav Infrastructure Project: Company acquired further 6 percent (3,000) equity shares of subsidiary Maharashtra Border Check Post Network Limited (MBCPNL), held by SREI.

Container Corporation of India: First distribution logistics centre at Ennore, Chennai was inaugurated on March 30.

Dynamic Industries: Company has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary in Neo Farbe Private Limited.

Scanpoint Geomatics: Company in consortium with Team Computers Private Limited (lead bidder) received a contract for setting up of enterprise Geoportal for National Atlas and Thematic Mapping Organisation (NATMO), Kolkata. The aggregate value of project for SGL is Rs 2.08 crore.

The company received a contract of enterprise and City GIS Solution for Agra Smart City through Master System Integrator (MSI) - Bharat Electronics and Lookman Electroplast Industries Limited, and for Lucknow Smart City through MSI Fluent Grid Limited and Bharat Electronics. The aggregate value of the said projects for SGL is Rs 9.33 crore.

Navkar Corporation: Board approved appointment of Captain Dinesh Gautama as whole time director of the company with immediate effect. Dinesh Gautama is also serving as Chief Executive Officer.

Sayaji Industries: Board has authorised Priyam B Mehta, Varun P Mehta and Vishal P Mehta individually and jointly to enter into a Joint Venture Agreement with Societe Developpement Produits Afrique - SDPA, France, the holding company of Alland and Robert for manufacturing of gum arabic/ gum acacia, gum ghatti and gum blends. The joint venture will be a 50:50.

Rico Auto Industries: Company alongwith its step down subsidiary, Rasa Autocom Limited has completed the acquisition of 2,11,20,000 equity shares of Magna Rico Powertrain Private Limited from Magna Powertrain GMBH at the rate of Rs 4.05 per share for a total consideration of Rs 8.56 crore.

Jindal Drilling: Company has acquired an offshore jack up drilling rig from Discovery Drilling Pte Ltd, Singapore, a joint venture of the company. The rig would be soon deployed under contract with Oil and Natural Gas Corporation (ONGC) already awarded to the company.

[cssebiregisteredcompany-blog]

Quarterly results that are expected today include

Bharti Airtel,Hero MotoCorp,Vedanta,Dabur India,UPL,Power Grid Corporation of India, eClerx Services,Creditaccess Grameen,NMDC, Laurus Labs, Apollo Micro Systems.

Here is the street expectation for the companies:

Hero MotoCorp (HMCL) Q3FY19E result expectation:

Revenue: Rs7,663cr; (up 5% yoy, down 16% qoq). HMCL will report revenue growth of 5% yoy (down 16% qoq), led almost entirely by volume growth (up 5% yoy, down 16% qoq). This was the weakest quarterly volume growth for HMCL in seven quarters, as festive volumes were partially captured in Q2FY19 as well. Realization will show a flat trend, aided by recent price hikes. It will partly offset the high discounts offered to push sales during festive season.

EBITDA: Rs1,094cr; (down 6% yoy, 21% qoq).

EBITDA margin: 14.3%; (contraction of 158bps yoy, 89bps qoq). EBITDA margin will contract due to negative operating leverage and weak Rupee. A&P expenses are seasonally higher in H2 compared to H1, which could further affect margins.

PAT: Rs751cr; (down 7% yoy, 23% qoq).

Vedanta Consensus expectations for Q3FY19E

Revenue – Rs21,484cr, down 11.8% yoy

EBITDA – Rs5,789cr, down 14.4% yoy

EBITDA Margin – 26.9%, a contraction 82bps yoy

PAT – Rs1,760cr, down 14.3% yoy

Powergrid Corporation of India Consensus expectations for Q3FY19E:

Revenue – Rs8,513cr, up 13.4% yoy

EBITDA – Rs7,618cr, up 13.1% yoy

EBITDA Margin – 89.5%, a contraction of 27bps yoy

PAT – Rs2,367cr, up 10.5% yoy

UPL Estimates for Q3FY19E

Revenue – Rs4,739cr, up 13% yoy, backed by strong volumes in Latin American market. However, Brazilian Real depreciation vs. INR to partially drag down LatAm growth. Rupee depreciation vs. EUR and USD should lead to further benefit in the top-line.

EBITDA – Rs970cr, up 17% yoy, on account of higher volumes offsetting the pricing pressure of the products across locations and forex gain on rupee depreciation on exports and foreign subsidiaries in North America and Europe.

Net profit after tax – Rs536cr, down 8% yoy, led by normalization of effective tax rate in the current period vs. tax benefits in the previous corresponding period. Constant currency growth across markets would support the net profit during the quarter.

More companies announcing results today are: Oriental Carbon & Chemicals, Signet Industries, JITF Infralogistics, Menon Bearings, Srikalahasthi Pipes, Mold-Tek Packaging, Cigniti Technologies, SQS India BFSI, Uniphos Enterprises, Tokyo Plast International, Aegis Logistics, Accelya Kale Solutions, Sundaram Finance, Solar Industries India, Selan Exploration Technology, Datamatics Global Services, V-Guard Industries, TCI Finance,

Dena Bank

, TD Power Systems, Jamna Auto, Maral Overseas, JMC Projects (India), Gangotri Textiles, 21st Century Management Services, JBF Industries, IFB Industries, HSIL,

Essar Shipping

,

Petronet LNG

, Ballarpur Industries, Chambal Fertilizers & Chemicals, Magma Fincorp, LG Balakrishnan & Bros, Kabra Extrusion Technik, EIH Associated Hotels, LGB Forge, Emami, Gujarat Alkalies and Chemicals.        

Get more details here:

Intraday stock tips, Financial Advisory Company ,share Maket Company,Stock tipsCall on:9977499927

* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.              

[bearishmitch]

ECM Weekly (25 August 2018) - Latitude, Hua Medicine, China Kepei, Canaan, Afterpay, Meituan, QTT

Aequitas Research puts out a weekly update on the deals that have been covered by Smartkarma Insight Providers recently, along with updates for upcoming IPOs.

It was a holiday shortened week in Singapore, so Toh Zhen Zhou decided to take some time off to get his open water certification at the Liberty Wreck in Bali. While the site itself is not a bad dive, getting in and out of the water from a rock filled beach while carrying a tank full of oxygen is not something to look forward to at 6 am in the morning! Hopefully, he will get back in one piece to resume his weekly coverage from next week onwards. 

While he was away, in placement land Afterpay Touch (APT AU) raise around US$100m in its placement (notably launched before the IPO of Latitude Financial Services (1272471D AU), its aged peer), which was priced at the top end. The stock closed its first day of trading 15% above its deal price. It was already trading at rich valuations, we wouldn't stick around unless one it taking a very very long view. GLP J-REIT (3281 JP) meanwhile priced its placement at JPY107,130/share and like most J-REIT offerings its trading comfortably above that price, it was 7% higher as of Friday. 

In terms of listing, Creditaccess Grameen (CREDAG IN) was the only listing this week and after its tepid subscription numbers it made a not so surprising debut below its IPO price. It is now trading 4% below its IPO price and has only traded around half of its offering, thus it might have some more downside left before things settle down.

While August has been a rather relaxed month, things are showing signs of heating up with the recent spate of US filing, NIO Inc (NIO US), Qutoutiao Inc (QTT US) and a few more will all go live next month. At the same time, Meituan Dianping (MEITUAN CH) is said to have won approval for its US$4bn IPO, needless to say it will one of the most awaited listing in Hong Kong this year along with Sichuan Haidilao Catering (0172918D HK). Hope you enjoy the rest of August before we head into what looks to be a busy year end.

Accuracy Rate:

Our overall accuracy rate is 71.3% for IPOs and 63.5% for Placements (performance measurement criteria is explained at the end of the note).

New IPO filings this week

Mabpharm (HK, US$200m)

Tinaqi Lithium (HK, US$1bn)

Ascentage (HK, US$400m)

AsiaInfo (HK, US$400m)

New Century (HK, US$200m)

AGS Transact (India, US$150m)

Bector Specialities Food (India, US$120m)

Below is a snippet of our IPO tool showing upcoming events for the next week. The IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.

News on Upcoming IPOs

Tencent-backed Chinese content aggregator Qutoutiao files for U.S. IPO to raise up to $300m

Qiming, Sequoia-backed mobile internet firm CooTek eyes $100m in US IPO

Earth Water plans to raise Rs 650-850 crore via IPO 

CITIC, Temasek-backed Chinese telecom software firm AsiaInfo files for HK IPO

AGS Transact Tech files for Rs 1,000 crore IPO 

Osotspa plans to start pre-marketing US$600m IPO next week

Smartkarma Community's this week Analysis on Upcoming IPO 

Meituan Dianping – Alibaba Investing Billions to Reach 50% Market Share

Qutoutiao 趣头条 (QTT) – A Spendthrift Who Pays News Readers Generously

Foodnamoo In source https://www.smartkarma.com/insights/ecm-weekly-25-august-2018-latitude-hua-medicine-china-kepei-canaan-afterpay-meituan-qtt?utm_medium=feed&utm_source=RSS

[globalexpressnews]

CreditAccess Grameen IPO To Open For Subscription On Wednesday

CreditAccess Grameen IPO To Open For Subscription On Wednesday

CreditAccess Grameen’s IPO or initial public offer will open for subscription on Wednesday. The public offer of Bengaluru-based microfinance institution – CreditAccess Grameen – is a mix of fresh issue and an offer for sale of a total of 2,69,48,255 shares. That includes a fresh issue of up to Rs 630 crore and an offer for sale (OFS) up to 11,876,485 shares. With that, the CreditAccess Grameen…

[smartmeindia-blog]

Share Market Live: Sensex, Nifty set to start flat; CreditAccess Grameen IPO opens today

Share Market Live: Sensex, Nifty set to start flat; CreditAccess Grameen IPO opens today

Share Market Live: Indian stock markets are likely to open flat on Wednesday following caution over the upcoming Q1 Fy19 results after a number of big companies reported a weaker-than-expected report card including PNB and Adani Ports.

Share Market Live: (Image: Reuters)

Share Market Live: Indian stock markets are likely to open flat on Wednesday…

[zavings]

CreditAccess Grameen soars 3% as board approves fund raising

CreditAccess Grameen soars 3% as board approves fund raising

The companys board of directors approved a proposal for fundraising by way of issue of equity shares of Rs1,000cr.

[the-shubhamk]

Microfinance industry to be most affected with the lockdown and moratorium

As the primary request sway, the income pattern of little getting organizations has diminished and ban help has influenced the liquidity.

Stocks in the prominent microfinance industry players like Bandhan Bank, CreditAccess Grameen, Spandana Spoorthy are dropped by 37% to 59% in March 2020. This is the reason these organizations are persuading their speculators and investors that countrywide lockdown will be a brief issue on their monetary shed.

In an ongoing conversation with investigators, Bandhan Bank referenced that it has ended new dispensing yet has not seen MFI intrigued individuals are not shaking their reserve funds yet. "As a drawn out technique, the bank has just expanded resource portfolio, with the MFI share down to 61 percent and to fall further to 40 percent throughout the years," experts at Emkay Global Financial note. "While all week after week community gatherings, payment and assortments are briefly halted because of lockdown, representatives are keeping up ordinary association with clients by means of calls," experts at ICICI Securities note after a call with CreditAccess Grameen's administration.

Read More

[ainvestops]

Sensex outlook: Ahead of Market: 12 things that will decide stock action on Monday

NEW DELHI: Equity market was left less than impressed after the Reserve Bank of India Governor Shaktikanta Das refrained from making projections for growth and inflation in his media address, where he announced a slew of measures to support the economy, including a whopping 75 basis points cut in repo rate.

Das said the projected annual GDP growth was at risk due to the uncertainty created by the outbreak of the deadly virus.

BSE Sensex on Friday ended at 29,815.59, down 131.18 points against the previous close of 29,946.77. While, 50-share Nifty settled 18.80 points higher at 8,660.25.

Earlier in the day, positive global cues and hopes of an economic package by RBI had led to the domestic benchmarks surging before slipping from day’s high after the central bank’s announcement.

While experts are happy with the steps taken, they, however, feel that the market will be dictated by the evolving situation on the Covid-19 crisis and its implications on the economy and corporate earnings.

“Indices ended almost flat following RBI measures to lessen the burden on borrowers and to increase liquidity in the system. The market was up in the last two sessions on expectations of these announcements from the government and RBI. Now since the expected events are out of the way, focus will be back on the spread of the virus and its damage on the already reeling economy,” says Vinod Nair, head of research at Geojit Financial Services.

Here’s what indicators are suggesting for the stock market action on Monday: Wall St tumbles as US virus cases pass 100,000 Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the US economy resurfaced and the number of coronavirus cases in the country climbed, Reuters reported. The Dow Jones Industrial Average slumped 4.06 per cent to end at 21,636.78 points, while the S&P 500 lost 3.37 per cent to 2,541.47. The Nasdaq Composite dropped 3.79 per cent to 7,502.38.

European shares fall after 3-day rally European shares closed in the red after EU lawmakers failed to agree on a coronavirus rescue package and British Prime Minister Boris Johnson announced he had been infected. The pan-European STOXX 600 index started the day about 2 per cent lower, then closed down 3.3 per cent after the announcement about Johnson’s test. London bluechip stocks had extended losses after the news, closing 5.3 per cent down.

Did RBI rate cut not go down well on D-Street?

Tech View: Nifty50 has resistance at 8,900-9,000 Nifty formed a small bearish candle on the daily chart. Analysts said the index needs to breach the 8,900-9,000 range in the near term, before instilling confidence among market participants. The index managed to break a double bottom pattern on the intraday chart, but was unable to close above the same. This signalled that the structure is still negative and the index needs to close above the 8,900 level for a change in momentum, said Rohit Singre of LKP Securities.

F&O: Nifty’s overall structure still negative Nifty started April derivatives series on a positive note as there was a decent gapup opening in the market on the back of favourable cues from global bourses. Nifty moved above the 9,000 mark in early trade, but failed to sustain at higher levels and corrected sharply by more than 500 points from the intraday high. The overall chart structure is still negative, but a pullback move of the ongoing corrective phase cannot be ruled out after the sharp decline of last six weeks.

Podcast: Time to invest in passive funds?

Stocks showing bullish bias Momentum indicator Moving Average Convergence Divergence (MACD) on Friday showed bullish trade setup on the counters including Tata Motors, NCC, NHPC, Canara Bank, MothersonSumiSystems, NMDC, Wipro, Cipla, NBCC (India), LIC Housing, TCS, Biocon, IFCI, PC Jeweller, HFCL, MMTC, Indian Overseas Bank, Central Bank, ITI, Sterlite Technologies, Berger Paints, Colgate, PVR and PTC India. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on top of the MACD to reflect ‘buy’ or ‘sell’ opportunities. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa.

Most active stocks in value terms Axis Bank (Rs 2691.49 crore), HDFC Bank (Rs 2549.23 crore), ICICI Bank (Rs 2494.96 crore), SBI (Rs 2317.42 crore), RIL (Rs 2037.71 crore), Bajaj Finance (Rs 1961.93 crore), IndusInd Bank (Rs 1953.15 crore), HDFC (Rs 1609.64 crore), Kotak Bank (Rs 1439.51 crore) and Infosys (Rs 881.98 crore) were among the most active stocks on Dalal Street on Friday in value terms. Higher activity on a counter in value terms can help identify the counters with highest trading turnovers in the day.

Most active stocks in volume terms YES Bank (Shares traded: 11.86 crore), SBI (Shares traded: 11.47 crore), Vodafone Idea (Shares traded: 10.58 crore), Ashok Leyland (Shares traded: 8.00 crore), ICICI Bank (Shares traded: 7.28 crore), Axis Bank (Shares traded: 7.10 crore), Tata Motors (Shares traded: 5.88 crore), IDFC First Bank Ltd. (Shares traded: 4.74 crore), IndusInd Bank (Shares traded: 4.39 crore) and Federal Bank (Shares traded: 4.23 crore) were among the most traded stocks in the session.

Stocks showing buyers’ interest Ruchi Soya Industries, Geekay Wires and Bafna Pharmaceuticals witnessed strong buying interest from market participants as they scaled their fresh 52-week highs on Friday signalling bullish sentiment.

Stocks witnessing selling pressure Cummins India, TVS Motor, Oberoi Realty, Future Retail and CreditAccess Grameen witnessed strong selling pressure in Friday’s session and hit their 52-week lows, signalling bearish sentiment on these counters.

Sentiment meter As many as 241 stocks on the BSE 500 index settled the day in green, while 258 settled the day in red.

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[sgxniftyworld]

Nifty PSU Bank Index declines 2.4% in trade today

Benchmark indices continue to trade lower in the afternoon session. The Sensex is down 390 points or 0.95% at 40664.83, and the Nifty is down 131.30 points or 1.09% at 11914.50. About 429 shares have advanced, 1333 shares declined, and 389 shares are unchanged.

All the sectoral indices are trading in the red except Nifty Media, which is the only sectoral gainer, up 0.68%. Nifty PSU Bank index is down 2.40%, while Nifty Bank is down 1.20%.

Shares of CreditAccess Grameen rose as much as 3.6% to Rs861.50; Vodafone Idea stock fell as much as 11.8%, while Bharti Infratel stock has declined 11.60% in today’s trade.

Whirpool, DHFL, J&K Bank are among the gainers, while the losers include YES Bank, Union Bank, NCC.

[niftyfuture-blog1]

Nifty PSU Bank Index declines 2.4% in trade today

Benchmark indices continue to trade lower in the afternoon session. The Sensex is down 390 points or 0.95% at 40664.83, and the Nifty is down 131.30 points or 1.09% at 11914.50. About 429 shares have advanced, 1333 shares declined, and 389 shares are unchanged.

All the sectoral indices are trading in the red except Nifty Media, which is the only sectoral gainer, up 0.68%. Nifty PSU Bank index is down 2.40%, while Nifty Bank is down 1.20%.

Shares of CreditAccess Grameen rose as much as 3.6% to Rs861.50; Vodafone Idea stock fell as much as 11.8%, while Bharti Infratel stock has declined 11.60% in today’s trade.

Whirpool, DHFL, J&K Bank are among the gainers, while the losers include YES Bank, Union Bank, NCC.