Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 76.46 points or 1.04% at 7246.72 at 13:48 IST. Among the components of the S&P BSE Finance index, Shriram Transport Finance Company Ltd (down 6.05%), Magma Fincorp Ltd (down 5.05%),Cholamandalam Investment & Finance Company Ltd (down 4.93%),Dolat Investments Ltd (down 4.71%),Dewan Housing Finance Corporation Ltd (down 4.64%), were the top losers. Among the other losers were Dhanlaxmi Bank Ltd (down 4.2%), Muthoot Finance Ltd (down 4.13%), Bandhan Bank Ltd (down 3.93%), Bajaj Finance Ltd (down 3.63%), and Housing Development Finance Corporation Ltd (down 2.91%). On the other hand, Housing & Urban Development Corporation Ltd (up 12.3%), Jammu and Kashmir Bank Ltd (up 8.63%), and Paisalo Digital Ltd (up 4.31%) moved up.
Regulator Sebi has granted certain exemptions to Pagita Leasing and Finance Company Ltd for voluntary delisting of its equity shares. In its application for delisting, the company submitted that 99.96 per cent stake is held by the promoter group and the rest is held by an individual. Pagita Leasing, which is listed on the BSE, was suspended by the exchange back in 2002. Sebi, in its order passed on Monday, said that in case of the applicant company, almost 100 per cent of the equity is with the promoters and there are effectively no public shareholders. The company should make a public announcement about the delisting and also write to the individual holding the shares to tender the same.
Power Finance Corporation Ltd is quoting at Rs 115.05, down 2.09% on the day as on 13:19 IST on the NSE. The stock jumped 2.86% in last one year as compared to a 11.4% rally in NIFTY and a 0.32% spurt in the Nifty Financial Services index.
Power Finance Corporation Ltd dropped for a fifth straight session today. The stock is quoting at Rs 115.05, down 2.09% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.72% on the day, quoting at 13661.25. The Sensex is at 46664.14, down 0.63%.Power Finance Corporation Ltd has added around 10.57% in last one month.Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has increased around 4.53% in last one month and is currently quoting at 14879.15, down 1.23% on the day. The volume in the stock stood at 23.09 lakh shares today, compared to the daily average of 83.7 lakh shares in last one month.
Cholamandalam Investment & Finance Company Ltd is quoting at Rs 377.8, up 0.08% on the day as on 12:44 IST on the NSE. The stock is up 22.32% in last one year as compared to a 12.36% spurt in NIFTY and a 2% spurt in the Nifty Financial Services.
Cholamandalam Investment & Finance Company Ltd gained for a fifth straight session today. The stock is quoting at Rs 377.8, up 0.08% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.36% on the day, quoting at 13731.7. The Sensex is at 46852.93, up 0.4%. Cholamandalam Investment & Finance Company Ltd has risen around 12.88% in last one month.
Meanwhile, Nifty Financial Services index of which Cholamandalam Investment & Finance Company Ltd is a constituent, has risen around 4.26% in last one month and is currently quoting at 14789.3, up 0.82% on the day. The volume in the stock stood at 13.19 lakh shares today, compared to the daily average of 62.32 lakh shares in last one month.