Category Archives: News

Three banks will soon merge

stock market news

After the merger of Vijaya Bank and Dena Bank in Bank of Baroda, the government is going to merge three more banks soon. It can be announced after Union Minister Arun Jaitley returns from the United States. After the merger of these banks, it will become the second largest bank in the country.
According to information the government is going to merge the Punjab National Bank, Oriental Bank of Commerce and Punjab & Sind Bank. The government can take this decision before or after the elections. If the government stamps the merger proposal of these banks, then it will become the second largest public sector bank after SBI and will also beat the other merged bank with Bank of Baroda.
PNB and Punjab & Sind Bank have their headquarters in Delhi, while OBC is located in Gururgram. After the merger of these three banks, the total deposits of the new bank will be 16.5 lakh crore rupees. It will include deposits of 9.6 lakh crore and debt of Rs 7 lakh crore.

Recovery in the market, closed with the edge

nifty plus

Mumbai: The sharp decline in the market on Thursday, the markets closed at the same pace on the last day of the week and the market closed with seven percent increase. Sensex and Nifty climb more than 2% BSE’s 30-share index Sensex closed at 34733 levels, up by 732 points, which is 2.2 percent. On the other hand, NSE’s 50-share index Nifty closed at 234, which is 2.3 percent, at 10,472.5 level.

Midcap and smallcap stocks have also seen strong purchases. BSE’s mid-cap index has closed nearly 2.5 percent, while the mid-cap index of the Nifty has seen an increase of nearly 3 percent. BSE’s smallcap index closed more than 2.5 percent.

Good buying was seen in auto, FMCG, metal, banking, realty, consumer durables, capital goods, power and oil and gas stocks. Bank Nifty rose 2.5 percent and closed close to 25,400. However, there was pressure in IT stocks. Nifty’s IT index closed down 1 percent.

In the giants, Eicher Motors, Maruti Suzuki, Bajaj Finance, Mahindra & Mahindra, HPCL, Kotak Mahindra Bank, Coal India and Bajaj Auto have climbed up by 7-4.4 per cent. However, TCS, HCL Tech, Dr Reddy’s and Tech Mahindra have fallen down 3.1-0.25 per cent in the giants.

In the mid-cap stocks, Tata Power, Reliance Infra, Adani Power, Reliance Capital and Reliance Power closed up 10.5-8.3 per cent to close. However, Rajesh Exports, Bayar Crop, Amphassis, United Breweries and Torrent Pharma have slipped down 4.4-1.2 per cent in mid-cap stocks.

In smallcap stocks, Arshiya, Lincoln Pharma, Goodwill Engineering, Premier Explosive and Navkar Corp have climbed up to 20-14.1 per cent. However, GE Shipping, Ashapura Intimate, Monnet Steel, Electrosteel Steels and Greenplay Industries have broken down by 5-3.9% in smallcap stocks.

Higher Delivery Quantity (12/09/2018)

CENTRALBK 1443376 31855 66.20
STARCEMENT 1090043 44276 106.75
SOBHA 782790 47309 430.25
BLUESTARCO 480046 45191 656.15
SHRIRAMCIT 70694 8707 1925.65
SOMANYCERA 93755 14228 426.90
SIEMENS 567624 133308 944.90
HIMATSEIDE 105521 27884 264.15
ENIL 92262 27698 638.95

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