PNB stocks slump for second straight day after fraud shock; Plunges almost 12 pc

Shares of PNB on Thursday continued to drop for a second straight day by closing almost 12% lower after a USD 1.8 billion fraud was detected in one of its branches in Mumbai.

The trading volumes in PNB shares spiked remarkably high level. At the closing on Thursday’s trades, more than 19.4 crore shares exchanged hands on NSE and BSE counters with about 17.7 crore shares on NSE alone.

Stocks of jewellery companies such as Gitanjali Gems and PC Jewellers too declined after authorities blamed billionaire diamond trader Nirav Modi for the fraud.

Stocks of Gitanjali Gems plummeted almost 20 percent, while Stocks of PC Jewellers fell 5.31 percent on the BSE.

On Thursday, PNB shares lost about 12.89 percent to conclude at 127.05 on NSE while the shares settled 11.97 percent down at Rs 128.35 on BSE.

Tata Chemicals Q3 profit rise 3-fold to Rs.759 crore

Tata Chemicals Limited, an Indian global company with interests in chemicals, on Tuesday posted about 3-fold jump in consolidated net profit at Rs. 759.07 crore during the third quarter (Q3) of this fiscal on gains from its North American business.

Tata Chemical’s net profit had stood at Rs. 263.63 crore in the same period of corresponding year, it said. Total income increased marginally to Rs. 2,591.07 crore in the Oct – Dec period of 2017-18 fiscal from Rs. 2,524.44 crore in the year-ago period.

 Shares of Tata Chemicals closed down by 1.99% to settle at Rs. 682.95 on the BSE, while on NSE shares closed down by 1.33% at Rs. 686.20

Yes Bank to raise USD 600 million through fixed term notes

Yes Bank, India's fifth  largest private sector bank, on Friday said that it will raise 600 million dollar, equivalent to Rs. 3,830 crore, approx,  via issuance of fixed term notes under its USD 1 billion MTN (Medium Term Note) programme.

Earlier in In December 2017, Yes Bank had established an MTM Programme to raise over Rs 6,400 crore, by issuing debt securities on Private Placement (PP) basis.

As per the approval from its BoD and shareholders, Yes Bank has permission to raise funds up to Rs. 20,000 crore in one or more tranches on PP basis from time to time.

Shares of Yes Bank ended by 2.55% lower at Rs. 350.00 on BSE, while on NSE it settled by 3.58% lower at Rs. 347 on Friday’s closing.

L&T Construction bags orders worth Rs 1,310 crore:

Larsen & Toubro Limited (L&T), one of the largest and most reputed engineering companies in India, on Monday said, its construction arm L&T Construction has obtained orders worth Rs 1,310 cr, across various business segments.

The total order consist of Rs. 631 crore for the Water & Effluent Treatment biz, order for Power Transmission & Distribution biz  worth Rs 339 crore and for Buildings & Factories biz  worth Rs 340 crore, totaling 1310 crore.

The company has also bagged an order from BESCOM (Bangalore Electricity Supply Company) to convert the overhead conductor sys to an underground cabling sys to achieve reliable and un-interrupted power supply with enhanced voltage profile, in a sub-division of Bengaluru Metropolitan Area Zone.

Shares of Larsen & Toubro Limited were trading up by 0.03% at 1,329.60 on NSE post lunch hours, today.

Indiabulls Housing Finance raises Rs 895 crore through NCDs

India’s second largest private housing finance company,  Indiabulls Housing Finance Limited has allotted its II-tranche of Secured, Redeemable, NCDS (Non-Convertible Debentures ) of face value Rs 10,00 lakh each aggregating to Rs. 895.00 crore on Dec 27, 2017. The NCDs will be listed on both the NSE and BSE. 

Shares of Indiabulls Housing Finance ended at Rs. 1207.80, up by 15.15 points or 1.27% on the NSE, on Thursday’s closing.

India-bulls Housing Finance Limited is the II-nd largest private housing finance company in India, regulated by the National Housing Bank (NHB).

Shares of HDFC closed 0.5% lower, prior to the announcement, in comparison to the benchmark BSE Sensex that closed 0.7% higher.

Housing Development Finance Corporation Limited (HDFC) said on Tuesday that company will raise Rs 13,000 cr to infuse capital into its banking arm HDFC Bank Ltd., by selling shares mainly to subscribe to a preferential issue.  Upto Rs. 8500 cr of the funds raised will be utilized to subscribe to the preferential allotment. The mortgage lender is also considering the acquisition and resolution of stressed assets in the country’s real estate sector.

Shares of HDFC closed 0.5% lower, prior to the announcement, in comparison to the benchmark BSE Sensex that closed 0.7% higher.