The stock market on Thursday traded on expected lines, as it did attempt to gain some stability after six days of losing streak. However, this happened amid volatility. The Nifty swung nearly 150 points in either direction, before ending the day with a gain of 59.95 points or 0.52 per cent.
With Thursday’s trade, the index has established its current trading range of 11,760-11,395, and the level of 11,395 will be very crucial level to watch out for the near term.
OPEN INTEREST AND VOLUME
FII ACTIVITIES ( RS. IN CRORE)
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DII ACTIVITIES ( RS. IN CRORE)
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• YES Bank evaded Rs 330 mn tax via ‘cut and pay’ scheme: GST authority.
• Sitharaman defends 36 Rafale jets buy, says IAF infra didn’t allow for more.
• JSW Infra seeks to buy terminal in Kamarajar Port as part of capex plan.
• Maruti to move factory out of Gurgaon; shift inevitable, says R C Bhargava.
PNB puts nearly two dozen NPAs on sale to recover over Rs 13.20 billion:
Punjab National Bank has put nearly two dozen non-performing accounts (NPAs) on sale to recover over Rs 13.20 billion. The bank’s Stressed Assets Targeted Resolution Action (SASTRA) Division, which is handling the sale of stressed assets to recover dues, has put on sale a total of 21 accounts which cumulatively owe PNB Rs 13.20 billion.
“We intend to place these accounts for sale to ARCs/NBFCs/other banks/FIs etc, on terms and conditions stipulated in the bank’s policy, in line with the regulatory guidelines,” PNB said in a notification. The accounts include Moser Baer Solar, which has an outstanding of Rs 2.33 billion, Divine Alloys & Power Co Ltd Rs 2 billion, Divine Vidyut Rs 1.32 billion, Chincholi Sugar & Bio Industries Rs 1.14 billion, Arshiya Northern FTWZ Ltd Rs 967 million, Birla Surya Rs 735.8 million, Shri Saikrupa Sugar & Allied Industries Rs 633.5 million and Raja Forgings & Gears Ltd Rs 597.3 million.