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Market News - GMR Infra gains, United Breweries Jumps 9% , Bank stocks rally

GMR Infra gains- GMR Infra At Near Seven-Month High as much as 9.8 per cent to Rs 21.35, its highest level since Sept. 03, 2018. The company announced that a consortium of a Tata Group company, Singapore's sovereign wealth fund GIC and SSG Capital Management have agreed to invest around Rs 8,000 crore in its airports business.


Bank stocks rally helps Nifty Bank to touch a fresh record high of 30,100 - A rally in blue-chip bank scrips led by IndusInd Bank helped the Nifty Bank index surge past the previous high of 30,008-mark. IndusInd Bank shares are trading 4% higher at Rs 1779 on NSE, while Yes Bank shares are higher by 2.5% to Rs 260. RBL, Bank of Baroda, IDFC, Axis Bank, HDFC Bank all touched their respective 52-week highs. 

Sheela Foam At Over 20-Month Low- Shares of the Ghaziabad-based foam maker fell as much as 7.5 percent to Rs 1,206, the lowest since July 2017. The promoters said they will sell 42.3 lakh shares or 8.68 percent of equity capital of the company with an over-subscription option of another 2 percent stake. 

Rupee declines 13 paise against US dollar in early trade - The rupee opened 13 paise lower at 68.99 against the US dollar on Wednesday amid mixed global cues. 

Mindtree: Shares of IT major Mindtree will assume focus, after the board decided against share buyback, amid hostile takeover battle with L&T. L&T shares will also be in focus after engineering giant made an open offer for Mindtree shares to pick up 5.13 crore shares for uptown Rs 980. 

United Breweries Gains After Block Deal - Shares of United Breweries rose as much as 8.7 per cent, the most since Feb. 05, 2018, to Rs 1,464.65. About 74 lakh shares of the company changed hands in a block deal.

Jet Airways assures govt won’t ground any more planes; will add 40 more by April end - Crisis-ridden Jet Airways has assured the government that no additional planes would be grounded in the coming days, adding 40 more aircraft would fly by the April-end. 


Share Market | GMR Infra Shares | Bank Stocks | Sheela Foam | MindTree


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