The BSE Sensex and NSE Nifty on hopes that the government will reach a compromise on the GST Bill in the winter session of Parliament. Sensex ended higher by 169.57 points, or 0.65 per cent, at 26,128.20, while NSE Nifty closed 58.90 points up at 7,942.70.
Below are the stocks that made news today:
SKS Microfinance: Shares of micro lender closed 7.23 per cent up at Rs 454.65 after it announced a 1 per cent reduction in the interest rate charged to borrowers from 20.75 per cent to 19.75 per cent with effect from December 7, 2015, for all future disbursals.
Welspun Corp: Shares of the company were trading 10.50 per cent up at Rs 107.85 (at 10.30 am) after it won an order for supply of 216K MTs line pipes for an onshore project in Americas. With the addition of this order, current order book of the company has crossed 1040K MTs worth at Rs 6,400 crore. The share price of the company closed 10.45 per cent up at Rs 107.80.
Ashok Leyland: Shares of company settled 3.67 per cent up at Rs 97.50 after it received an order worth $200 million (around Rs 1,331 crore) from the West African country Cote D’Ivoire for the supply 3,600 trucks and buses. The market capitalisation of the company improved by Rs 981 crore.
Banking stocks: The stocks surged as much as 10 per cent ahead of some expectation from the Reserve Bank of India (RBI) on rate cut in the upcoming monetary policy review meeting on December 1 and value buying. Leading the pack of gainers was Oriental Bank of Commerce which zoomed 9.85 per cent, followed by Bank of Baroda (up 9.25 per cent), Union Bank (up 7.82 per cent), State bank of India (up 7.10 per cent) on the NSE.
IDBI Bank: Shares of the bank ended 4.03 per cent up at Rs 86.40 after it said that it has raised $350 million (about Rs 2,310 crore) from green bonds to fund clean energy projects.
Axis Bank: Shares of the private lender closed 1.23 per cent up at Rs 470.90 after the Reserve Bank of India (RBI) granted in-principle nod to three entities including Axis Bank for setting up of a Trade Receivables Discounting System (TReDS).
Simplex Castings: Shares of the company closed 7.63 per cent up at Rs 77.55 after the the company informed BSE that it has received an order from Jindal Rail Infrastructure worth of Rs 10 crore approx which will be executed by the company in next two quarters.
