Shares of Punjab National Bank (PNB) slipped 8 per cent to Rs 37.25 on the BSE on Wednesday, falling 10 per cent in the past two trading days after the bank announced the opening of qualified institutional placement (QIP) issue on Tuesday. However, the share price of the state-owned lender has fallen below the QIP floor price of Rs 37.35 per share.
In the past month, the stock has run up strongly, rallying nearly 40 per cent till Monday. At 09:44 am, the stock was trading 6 per cent lower at Rs 38.15, as compared to 0.71 per cent rise in the S&P BSE Sensex. The counter has seen huge trading volumes, with a combined 87 million equity shares were changing hands on the NSE and BSE.
With India on the path to approving coronavirus vaccines for the public, raising bets of an economic recovery, key equity indices opened on a positive note on Wednesday with the BSE Sensex hitting another record high of 45,897.23 points.
Around 9.16 a.m., Sensex was trading at 45,846.68, higher by 238.17 points or 0.52 per cent from its previous close of 45,608.51 points.
Shares of Canara Bank gained 7 per cent to Rs 126 on the BSE in the early morning trade on Tuesday on the back of heavy volumes after the bank’s qualified institutional placement (QIP) opened for subscription.
The subcommittee of the board – capital planning process of the Bank has, at its meeting held on December 7, has approved and authorised the opening of the QIP, from December 7, 2020. It has also approved the floor price for the QIP at Rs 103.50 per equity share.
Shares of Tata Motors rose 4 per cent to 10-month high of Rs 186.75 on the BSE on Wednesday after the company reported 26 per cent year on year (YoY) growth in total domestic sales at 47,859 units in the month of November 2020. It had sold total 38,057 units in domestic market.
The stock of commercial vehicles company was trading at its highest level since January 31, 2020. In past one month, Tata Motors has outperformed the market by surging 40 per cent, against 12 per cent rise in the S&P BSE Sensex.
Shares of Lakshmi Vilas Bank (LVB) hit the 20 per cent lower circuit at Rs 12.40 on the BSE in intraday trade on Wednesday, after the government put the private sector lender under moratorium for at least a month.
That apart, the Reserve Bank of India (RBI) on Tuesday proposed to merge LVB with the India subsidiary of Singapore's DBS Bank.
Shares of Avenue Supermarts, which runs the DMart chain of stores in the country, rallied 6 per cent to Rs 2,505 on the BSE in the morning trade on Tuesday on expectation of better sales during festive season Diwali. The stock is 2 per cent away from its record high level of Rs 2,559, touched on February 13, 2020.
In the past month, the share price of Avenue Supermarts has zoomed 25 per cent, against a 10 per cent rise in the S&P BSE Sensex.
Shares of Deepak Nitrite extended their winning run and gained 9 per cent to a fresh 52-week high of Rs 825 on the BSE on Tuesday. The stock had already risen 18.5 per cent in the last two sessions as compared to Sensex's 1.5 per cent gain during the same period.
At 11:46 AM, the stock had pared the day's gain and was trading 1.68 per cent lower at Rs 743.35. Around 58.13 lakh shares have changed hands on the NSE and BSE so far.
Shares of ICICI Bank extends its gains into fourth straight day, up 2.2 per cent to trade at Rs 388.85 on the BSE on Tuesday after Societe Generale on Monday offloaded shares of the bank worth nearly Rs 341 crore through an open market transaction.
"As per the block deal data on the BSE, 9 million scrips of the private lender were sold by Societe Generale at a price of Rs 378.6 per scrip. The total deal value stood at Rs 340.74 crore, said a PTI report.
Shares of 5Paisa Capital were locked in 5 per cent upper circuit at Rs 324.60 on the BSE on Tuesday after the company posted net profit of Rs 3.74 crore in June quarter (Q1FY20), against net loss of Rs 55 lakh in the year-ago quarter.
The company has reported quarterly profits for the first time since the launch of 5Paisa in March 2016. The stock was trading at its 52-week high level.
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