Kotak Mahindra, J&K Bank, ONGC, Vedanta, APSEZ Among 10 Stocks in News Today

Source:- news18.com

The benchmark stock market indices opened the week on a strong note, with the S&P BSE Sensex trading higher by 252 points, or 0.64%, to 39,868.28, while the Nifty 50 rose 73.10 points, or 0.62%, to 11,943.75 at 11:02am. Overseas, Asian shares were trading higher after the US and Mexico reached a deal to avoid the implementation of tariffs. Here are the 10 stock counters that kept traders busy today:

Kotak Mahindra Bank: Kotak Mahindra Bank Ltd shares fell by 1.2% after the Reserve Bank of India (RBI) imposed a penalty of Rs 2 crore on the lender for not complying with the central bank’s directions to furnish details of its promoter shareholding.

Vedanta, ONGC, RIL: Vedanta Ltd shares jumped 2.5%, while Oil and Natural Gas Corp. Ltd (ONGC) and Reliance Industries Ltd (RIL) are trading up by nearly 1% on reports that Directorate General of Hydrocarbons has completed the evaluation of the bids received for 32 oil and gas exploration blocks that were auctioned in the latest licensing round. Vedanta is set to win nine oil and gas blocks each in the latest auction, while RIL and its British partner BP plc is set to retain a block that contains gas discoveries they had previously made.

J&K Bank: Jammu and Kashmir Bank Ltd shares plummetted by as much as 20% after the state government removed its chairman Parvez Ahmad, and the Anti-Corruption Bureau carried out a raid at the lender’s corporate office in connection with alleged fraudulent appointments.

Reliance Power: Reliance Power shares crack nearly 21% after the Anil Ambani Group firm reported a net loss of Rs 3,558.51 crore for the quarter ended March as against a net profit of Rs 189.21 crore in the year-ago period.

APSEZ: Adani Ports and Special Economic Zone (APSEZ) shares fell marginally by 0.5% after a media report said the company is seeking to raise about $750 million by selling overseas bonds in the first major foreign issuance by a local infrastructure company.

DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares recovered as much as 10% in early trade on Monday on reports that the company managed to make partial payments to investors of non-convertible debentures (NCDs).

Eros International: Eros International Media Ltd plunged 10% on Friday, over and above the 30% drop last week, after Care Ratings downgraded the company’s long-term bank facilities rating by 10 notches to D, or default from BBB, citing delays or likely default in servicing of bank loans.

Larsen and Toubro: L&T shares rise 1.9% after its construction arm secured orders from prestigious clients across various Indian states for its varied businesses.