1. 7 stocks that hogged limelight in Friday’s trade: V-Guard Industries, Sobha and more

7 stocks that hogged limelight in Friday’s trade: V-Guard Industries, Sobha and more

Max Financial Services shares settled the day 10.29 per cent up at Rs 472.80 on Friday after HDFC informed bourses that Max Life Insurance and Max Financial Services will merge into HDFC Standard Life Insurance.

By: | New Delhi | Updated: June 17, 2016 5:40 PM
Stocks that remained in focus today Max Financial Services shares settled the day 10.29 per cent up at Rs 472.80 on Friday after HDFC informed bourses that Max Life Insurance and Max Financial Services will merge into HDFC Standard Life Insurance.

The BSE Sensex and NSE Nifty closed higher on Friday  following buying in frontline blue chip counters amid firm global cues. Sensex closed 100.45 points up at 26,625.91, while Nifty index settled 29.45 points up at 8,170.20.

Below are 10 stocks in focus today:

Max Financial Services shares soared nearly 20 per cent intraday on Friday after HDFC informed bourses that Max Life Insurance and Max Financial Services will merge into HDFC Standard Life Insurance. Later, the scrip settled the day 10.29 per cent up at Rs 472.80.

Merger approval from the Cabinet helped State Bank of India’s public-listed subsidiaries State Bank of Mysore (SBM), State Bank of Bikaner and Jaipur (SBBJ) and State Bank of Travancore (SBT) hit their fresh 52-week high of Rs 723.70, Rs 749.25 and Rs 597.90, respectively, on NSE on Friday. Later, SBM closed 5.29 per cent up, while SBBJ ended 0.39 per cent down and SBT settled  2.14 per cent down.

Stocks of the Coal India Ltd settled the day 2 per cent up at Rs 313.35 after Centre on Thursday asked state-owned power generation firms to immediately stop imports of the fuel and instead buy coal from the company.

Sugar majors such as Balrampur Chini Mills, Shree Renuka Sugars, Dhampure Speciality Sugars came under pressure on Friday after the government of Thursday slapped 20 per cent customs duty on sugar exports to boost domestic supply and check prices which are ruling high at Rs 40 per kg. Shree Renuka Sugars and Dhampure Speciality Sugars closed 4.61 per cent and 0.70 per cent down, while Balrampur Chini Mills settled the day 0.34 per cent up at Rs 118.55. Other sugar majors, Mawana Sugars, Oudh Sugar Mills closed down 4.98 per cent and 10 per cent, respectively. Upper Ganges Sugar & Industries shares which surged over 400 per cent since January 2016 closed 9.94 per cent down.

Real estate stocks were trading higher on Friday on hopes that the capital market regulator Sebi will consider proposals for relaxed norms for REITs and an easier set of compliance rules for foreign fund managers keen to relocate to India. Nifty Realty index closed 3.76 per cent up at 191.95. Real estate stocks such as Sobha ended 3.93 per cent up at Rs 317.00. Other majors such as HDIL, Unitech and Oberoi Realty settled the day 6.94 per cent, 15.31 per cent and 5.49 per cent up at Rs 102.50, Rs 5.65 and Rs 288.20, respectively.

GMR Infrastructure shares gained as much as 4 per cent in the early trade after a business daily reported that the company is in advanced negotiations with KKR and Apollo Global Management along with Abu Dhabi’s sovereign wealth fund ADIA and Canadian pension giant PSP Investments to sell a controlling stake in its Hyderabad airport. Later, the scrip settled the day 0.31 per cent up at Rs 12.80.

V-Guard Industries has informed BSE that the Board of Directors of the company at its meeting held on June 16, 2016, considered and approved the proposal for splitting of equity shares of the company, subject to the approval of the shareholders in respect thereof, in the 20th Annual General Meeting of the Company. Stocks of the company ended 5.33 per cent up at Rs 1392.50.

  1. No Comments.

Go to Top