While the indices opened on a positive note with the Sensex inching higher by 100 points and Nifty holding above 11,850. There are some stocks that are in news today for some or the other development. Here is a look at 5 such stocks:
1. HDFC Bank:
Aditya Puri, Managing Director at the bank has sold 12.52 equity shares in the bank. And as per a notification to the exchange, he further wishes to pare his stake in the bank via earlier stock options already vested in his name. After the development, the heavyweight stock in Tuesday's trade declined by as much as 1% to day's low of Rs. 1198 on the BSE.
2. JSW Steel:
In the auction of blocks undertaken in Odhisa , the company has been awarded the iron ore mine that holds estimated reserves to the tune of 39.40 million tonne. Also the company on Monday said that it has been considered as the preferred bidder for Jajang iron ore block in Keonjhar district in Odisha. The stock logged an intra-day high of Rs. 264.15 per share on the BSE.
3. PNB Housing Finance Ltd:
On Monday, Crisil downgraded the company's fixed deposits to AA+ over asset quality weakening due to big defaults. Also, the quantum of equity being planned to raised has gone down that earlier under considered. In light of this, the stock of PNB Housing Finance was trading between gains and losses and logged a day's high of Rs. 410.40.
As per a leading dailies report, there has been reported misappropriation of funds of Rs.25000 crore by promoters of the company as per the points highlighted in the ED's preliminary enquiry. Even despite such a news, the stock of housing finance spurted in trade and was last seen trading higher by 4.94% at Rs. 12.54 per share.