Indian stocks erased early gains to trade flat on Friday even as global markets stayed positive. At 10:30 am, the benchmark S&P BSE Sensex was trading at 40,808.53, up 28.94 points, or 0.07%, while the Nifty 50 index stood at 12,026.50, up 8.10 points, or 0.07%.
Yes Bank, Allcargo Logistics, Gati, Tata Motors, M&M and Bharti Airtel were among the key stocks in news today. Read on to know more:
Yes Bank: Yes Bank Ltd shares dropped 5.8% after global ratings agency Moody’s Investor Service downgraded credit ratings of the bank with a negative outlook.
Allcargo Logistics: Allcargo Logistics Ltd shares gained 3.8% after the company announced it will buy a controlling stake in Gati Ltd (down 5.5%) by purchasing 10.4 million shares of the latter at Rs 75 apiece and making an open offer for additional 26% stake at the same price.
Tata Motors: Tata Motors Ltd shares inched down 0.6% after the company approved allotment of over 20 crore ordinary shares at a price of Rs 150 each and over 23 crore warrants at a price of Rs 150 apiece on preferential basis to its promoters Tata Sons.
M&M: Mahindra and Mahindra (M&M) shares inched down 0.5% after the company acquired 36.63% of the equity share capital of Meru in the first tranche of investment.
Bharti Airtel: Bharti Airtel Ltd shares rose 1.1% after S&P Global kept the company’s rating on watch negative, saying that the Rs 34,300 crore AGR (aggregate gross revenue) setback will decisively weaken the company’s leverage.
Narayana Hrudayalaya: Narayana Hrudayalaya Ltd shares surged 7.4% after the company said it will proceed with its hospital project in Kenya.
RBL Bank: RBL Bank Ltd shares fell 0.7% after the bank raised a total of Rs 2,025 crore at the close of its qualified institutional placement (QIP) at Rs 351 per share.
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