1. JSPL, Jaiprakash Power Ventures, Maruti Suzuki among 10 stocks that remained in news today

JSPL, Jaiprakash Power Ventures, Maruti Suzuki among 10 stocks that remained in news today

Jindal Steel (JSPL) shares plunged over 5 per cent after the company defaulted on interest repayments to its bondholders due on September 30, 2016.

By: | New Delhi | Updated: October 6, 2016 4:07 PM
BSE Sensex, NSE Nifty Jindal Steel (JSPL) shares plunged over 5 per cent after the company defaulted on interest repayments to its bondholders due on September 30, 2016. (Photo: Reuters)

The BSE Sensex closed 114.77 points down at 28106.21, while Nifty settled 34.40 points down at 8,709.55. The BSE Midcap and BSE Smallcap underperformed the benchmark index and dipped 0.56 per cent and 0.48 per cent to 13540.98 and 13225.58, respectively.

Below are 10 stocks that remained in news today:

Bank of India: Bank of India said it has fixed marginal cost of funds based lending rate (MCLR) at 9-9.35 per cent with effect from October 7. Shares of the lender closed 2.25 per cent down at Rs 117.05.

Syndicate Bank: Syndicate Bank’s MCLR will be in range of 9.3 – 9.45 per cent with effect from October 7. The scrip settled 2.36 per cent down at Rs 74.40.

Reliance Infrastructure: Anil Ambani-led Reliance Infrastructure signed an agreement to sell its power transmission assets to Adani Group for over Rs 2,000 crore. Shares of Reliance Infra closed 1.30 per cent down at Rs 583.35.

Punjab & Sind Bank: Delhi-based Punjab & Sind Bank said its lending rates will be in the range of 9.3-9.75 per cent from October 5. The scrip settled 0.86 per cent up at Rs 52.85.

Bank of Maharashtra: The bank has revised MCLR between 9.05-9.6 per cent from October 1. Shares of Bank of Maharashtra settled 1.12 per cent down at Rs 30.85.

Sobha Ltd: Shares of the company jumped nearly 1.50 per cent on Thursday after the company said the performance of its real estate operations during the second quarter of the financial year 2016-17 was on track. Sobha achieved net sales of 855662 square feet valued at Rs 5182 million with an average realisation of Rs 6056 per square feet.

Maruti SuzukiMaruti Suzuki India shares ended higher after the company reported 24.08 per cent rise in its production to 1,46,434 units in September 2016 as compared to 118,015 units in September 2015.

JSPL: Jindal Steel (JSPL) shares plunged over 5 per cent after the company defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8 per cent with about two-10 year maturities with banks, provident funds believed to be the investors.

Sagar Cements: Sagar Cements closed over 1 per cent up after the company reported the cement production and sales figures for September 2016. The sales were up by 29 per cent on a consolidated basis and lower by 15 per cent on standalone basis. The cement production for September 2016 stood at 94,110 million tonnes (MT) on standalone basis and at 146,051 MT on consolidated basis. The cement sales for September 2016 stood at 97,829 MT and 1,48,313 MT on standalone and consolidates basis respectively in September.

Jaiprakash Power Ventures: Shares of the company gained over 10 per cent on Thursday after the company announced that the board of directors will meet on October 6 to consider the recommendations of Committee of Directors regarding proposals of restructuring including divestment of one or more units and review the progress made in reduction of company’s debt.

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