Market Movers: Financials lead charge; Paisalo surges; 45 stocks blink sell
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Shares of Paisalo Digital jumped 19.6 per cent to Rs 623.50 after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.
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Top private lender HDFC Bank advanced 1.15 per cent to Rs 1,412.90, while mortgage lender Housing Development Finance Corp (HDFC) climbed 1.25 per cent to Rs 2,485.
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MUMBAI: A rally in financials drove benchmark equity indices to another all-time high on Monday, in a session that saw Nifty moving above the previous swing high. Benchmark Sensex rose 380 points to 47,354 points, while peer Nifty climbed 124 points to 13,873 points.
Sadbhav Infrastructure Project fell 3.49% to Rs 20.75, extending losses to third consecutive session.
The stock has decline 11.51% in three days from its recent closing high of Rs 23.45 on 7 December 2020.
During market hours yesterday, the construction company said that the National Highways Authority of India (NHAI) had issued a provisional completion certificate for 31.40 kms length (out of 42.791 km) with effect from 31 October 2019 for Sadbhav Rudrapur Highway (SRHPL), a wholly owned subsidiary of the company. Consequently, SRHPL is entitled to receive annuity payments w.e.f. 31 October 2019 from NHAI, the company said in a regulatory filing.
The provisional completion certificate is for a project that involves four-laning of about 43 kms of Rampur-Kathgodam section of National Highway 87 (NH-87) in Uttar Pradesh. The project was awarded to the company under the National Highways Development Programme-III (NHDP-III) on hybrid annuity mode.