1. RBL Bank, UltraTech Cement among 7 stocks that hogged limelight in Wednesday’s trade

RBL Bank, UltraTech Cement among 7 stocks that hogged limelight in Wednesday’s trade

UltraTech Cement stocks ended 3.61 per cent up at Rs 4029.15 as it has received an approval from the Reserve Bank of India (RBI), whereby the apex bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of the company under the Portfolio Investment Scheme (PIS).

By: | Updated: August 31, 2016 4:54 PM
Stocks in focus today UltraTech Cement stocks ended 3.61 per cent up at Rs 4029.15 as it has received an approval from the Reserve Bank of India (RBI), whereby the apex bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of the company under the Portfolio Investment Scheme (PIS).

Domestic stock markets closed higher on Wednesday on buying in blue companies and sustained foreign fund inflows. Sensex surged 109.16 points to end at 28,452.17, while NSE Nifty gained 41.85 points to settle at 8,786.20.

Below are the 7 stocks that hogged limelight in Thursday’s trade

RBL Bank: Stocks of the bank that made a strong debut on bourses closed 33 per cent higher at Rs 299.40 against the issue price of Rs 225 on NSE. The scrip listed at Rs 274.20. On BSE, the scrip closed at Rs 299.30. Shares of the private lender opened the day at Rs 273.70 on BSE.

UltraTech Cement: Stocks of the company ended 3.61 per cent up at Rs 4029.15 as it has received an approval from the Reserve Bank of India (RBI), whereby the apex bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of the company under the Portfolio Investment Scheme (PIS).

Kotak Mahindra Bank: Shares of the company settled the day 2.77 per cent up at Rs 807.30 after the private sector bank received Reserve Bank of India’s approval for selling less than 10 per cent stake in the bank to Canada Pension Plan Investment Board (CPPIB). According to Reuters data, CPPIB holds around 4.9 per cent stake in the bank.

Zee Entertainment: Shares of the company ended with gains of  1.97 per cent up at Rs 539.65 after it informed bourses that its boards of directors has approved selling of its sports broadcasting business to Sony Pictures for $385 million (around Rs 2,600 cr).

Cox & Kings: Stocks of the tour and travel company ended 3.05 per cent down at Rs 187.40 after it posted 23.67 per cent dip in consolidated net profit to Rs 108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs 141.60 crore for the corresponding period of the previous fiscal.

DLF: Stocks of the company scrip ended 4.32 per cent down at Rs 155.20 as it has reportedly identified bidders for selling stake in its rental arm and has allowed access to virtual data room and vendor diligence reports.

GVK Power and Infrastructure: The company’s standalone net loss rose to Rs 51.04 crore for the first quarter ended June 30, 2016 as compared to Rs 3.09 crore for the quarter ended June 30, 2015. Shares of the company ended 6.92 per cent up at Rs 6.64.

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