Indices traded sideways with decent gains in morning trade. The Nifty hovered above the crucial 15,000 mark. Metal and PSU bank stocks saw selling pressure while IT stocks advanced. Shares rose on bargain hunting after yesterday s steep correction.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 295 points or 0.59% at 50,690.92. The Nifty 50 index gained 75.35 points or 0.5% at 15,004.
In broader market, the S&P BSE Mid-Cap index was up 0.4% while the S&P BSE Small-Cap index was gained 0.52%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1476 shares rose and 1008 shares fell. A total of 138 shares were unchanged.
Max Healthcare Institute rose 1.93% to Rs 205.85 after the company said it acquired 42.8% equity stake in Saket City Hospitals (SCHL) from Kayak Investments Holding.Before the transaction, Max Healthcare Institute held 57.2% and Kayak Investments Holding held the remaining 42.8% stake in Saket City Hospitals.
Kayak held 51.94% stake in Max Healthcare as on 31 December 2020.
Max Healthcare Institute purchased 1.26 crore equity shares, representing 42.8% of the equity share capital of SCHL from Kayak. Following the transaction, SCHL has become a wholly-owned subsidiary of the company with effect from 15 March 2021. The consideration for the purchase of purchased shares is the INR equivalent to $64,246,702.
SCHL is engaged in the business of providing healthcare services in India, including sale of medicines in the course of delivery of healthcare services by way of Business to Business (B2B), construction services, supply, erecting and installation of equipment and other related s
Sensex Up Over 400 Points; Nifty Gains 120 Points
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Indian shares rose notably on Friday, mirroring firm cues from global markets after U.S. President Joe Biden signed his $1.9 trillion stimulus bill into law.
The benchmark S&P BSE Sensex climbed 415 points, or 0.8 percent, to 51,694 in early trade, while the broader NSE Nifty index was up 120 points, or 0.8 percent, at 15,294.
Tata Steel, IOC, Larsen & Toubro, BPCL and JSW Steel rallied 2-3 percent while Hero MotoCorp, HDFC Life, Bajaj Auto and SBI Life dropped 1-2 percent.
Tata Motors rose half a percent after unveiling the Ultra Sleek T-Series range of intermediate and light commercial trucks.
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Nifty futures on the Singapore Exchange traded 4 points, or 0.03 per cent, lower at 15,415 in signs that Dalal Street was headed for a tepid start on Friday. Here are a few stocks which may buzz the most in today s trade:
SBI: State Bank of India (
SBI) will conduct e-auctions of 12 bad accounts this month to recover dues of over Rs 506 crore under sale to asset reconstruction company (ARC) mechanism.
Housing: At least two existing overseas investors in PNB Housing Finance – the Carlyle Group and General Atlantic Singapore – are believed to have hired consultants to carry out a due diligence on the mortgage lender, which is looking to tap these investors for equity expansion.
At issue price of Rs 195.40Max Healthcare Institute announced that the QIP Committee of the Board of Directors of the company at its meeting held on 10 March 2021 has approved the allotment of 6,14,12,482 equity shares of Rs 10 each to qualified institutional buyers at an issue price of Rs 195.40 per share (including a premium of Rs 185.40 per share) aggregating to Rs 1199.99 crore, pursuant to the issue.
The Issue opened on 04 March 2021 and closed on 09 March 2021.
Pursuant to the allotment of equity shares in terms of the issue, the paid-up equity share capital of the Company stands increased to Rs 965.94 crore consisting of 96,59,45,006 equity shares.