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Stock Market News - Axis Bank Falls,YES, Bank dips over 2%

Axis Bank Falls On Fund Raising Plans Shares of Axis Bank fell as much as 1.2 percent to Rs 686.55. The lender’s board approved the issuance of 19.87 crore shares at Rs 629 each as it closed qualified institutions placement, according to its statement on exchanges. Of the shares traded, 37 percent were at the asking price and 39 percent were at the bid, according to Bloomberg data.


Sterlite Technologies Gains After Unit Signs Pact Shares of Sterlite Technologies rose as much as 4.3 percent to Rs 162.75. The company said its unit signed a pact to acquire the entire stake in the U.K.-based Impact Data Solutions at an enterprise value of about Rs 105 crore,” according to its stock exchange filing. 

Zee Entertainment Swings After Large Trades Shares of Zee Entertainment fluctuated between gains and losses to trade 0.6 percent lower at Rs 271.80. About 34.8 lakh shares of the company changed hands in two large deals, Bloomberg data showed. Buyers and sellers were not known immediately.

Morgan Stanley Gives Inter Globe Aviation Its Most Bullish Price Target Yet Shares of InterGlobe Aviation is expected to reach Rs 2,261. That’s according to international research firm Morgan Stanley. It is the highest price target on the company so far, among the analysts tracked by Bloomberg. The price target implies a potential upside of 25.4 percent from the current market price.

TOP GAINERS & LOSERS - 

Maruti Suzuki, ICICI Bank, Eicher Motors, Asian Paints, InterGlobe Aviation, Sterlite Tech, Indiabulls Housing, M&M, Cipla, IOC, ONGC, BPCL, IndusInd Bank, IndusInd Bank are among major gainers on the Indices, while losers are Axis Bank, HCL Tech and Infosys.

Rupee Opens: The Indian rupee opened flat at 71.02 per dollar on Thursday versus previous close 71.03.

Gati locked in 5% upper circuit band - Allcargo Logistics is in talks to buy a stake in smaller rival Gati Ltd, Bloomberg reported citing sources, as India’s biggest cargo company attempts to boost its presence across Asia’s third-largest economy.

MOIL gains 2.6% - HSBC has upgraded the stock to buy with the target price Rs 180 /share.

IndiGo hits a 52-week high - Morgan Stanley has raised the target price of Rs 2,261, up 25 percent from its current market price

Sterlite Technologies jumps over 3.5% - Broadband solution provider Sterlite Technologies said its Mauritius-based arm has signed a pact to acquire the entire stake in the UK-based Impact Data Solutions at an enterprise value of around Rs 105 crore.

YES, Bank dips over 2% - In a regulatory filing, the private sector lender said it is awaiting Reserve Bank of India (RBI) approval to increase the authorized share capital of the bank before a planned share sale.

CG Power gains 5% - The company has appointed Ashish Kumar Guha as its chairman after Gautam Thapar was ousted from the position in August for allegedly being involved in financial irregularities.


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