Indian stock markets were trading with strong positive momentum on Friday, i.e. 27 December, with all sectoral indices except metal trading in the green.
At 10:34 am, the benchmark S&P BSE Sensex stood at 41,359.80, up 196.04 points, or 0.48%, while the Nifty 50 index rose 59.40 points, or 0.49%, to 12,185.95. Allahabad Bank, Gujarat Gas, PNB, ICRA and CARE Ratings were among the key stocks in news today. Read on to know more:
Allahabad Bank: Allahabad Bank share price surged 11% after the government released fresh capital infusion fund of Rs 2,153 crore for the lender.
Gujarat Gas: Gujarat Gas Ltd shares jumped 4% after Crisil upgraded the rating of long-term rating of bank facilities.
PNB: Punjab National Bank (PNB) shares shot up 5.8% after the bank allotted Rs 1,500 crore Tier-II (Basel III Compliant) capital bonds on private placement basis.
ICRA, CARE Ratings: Shares of ICRA Ltd fell 1.8%, while those of CARE Ratings gained 3.5% after market regulator Sebi imposed a penalty of Rs 25 lakh each on both the companies for failures in ratings of IL&FS debt.
Hindustan Aeronautics: Hindustan Aeronautics Ltd shares dropped nearly 2% after CARE cut company’s long-term rating to AA+ from AAA.
HG Infra Engineering: HG Infra Engineering Ltd shares spiked 11% after the company was declared lowest bidder by the National Highways Authority of India (NHAI).
Kaveri Seed: Kaveri Seed Co. Ltd shares advanced nearly 12% after the open offer for buyback of 28 lakh shares at Rs 700 per share was approved by Sebi.
Can Fin Homes: Can Fin Homes Ltd shares rose 1.7% after CARE reviewed the ratings of non-convertible debentures (NCDs) aggregating to Rs 8,300 crore and affirmed the rating ‘AAA (Credit watch with developing implications)’.
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