
ZEE snaps 6-day losing streak, rises 8% on re-inclusion in NSE F&O segment
The stock had fallen 15% in the last six sessions after the NCLT last week allowed initiation of insolvency proceedings against the Essel Group company.
The stock had fallen 15% in the last six sessions after the NCLT last week allowed initiation of insolvency proceedings against the Essel Group company.
The NCLAT has stayed bankruptcy proceedings against ZEEL initiated by the NCLT on IndusInd Bank’s plea under the Insolvency and Bankruptcy Code (IBC).
The NCLT has admitted a petition filed by IndusInd Bank after ZEEL failed to fulfil its debt obligations regarding payment of ₹83 crore loan issued to Siti Networks.
The stock price got a boost amid a report that Hinduja Group may increase its stake in IndusInd Bank to 26% from the existing 16.51%.
Shares of IndusInd Bank hit an intraday high and low ₹1,273.20 and ₹1,206.25, respectively, in the volatile trade.
The private lender's net profit grew by 15% to ₹1,805 crore in the July to September quarter from ₹1,147 crore in the same period last year.
The Sensex and Nifty are poised to open lower on Friday, in line with global equities after the World Bank warned of a global recession due to higher global interest rates.
IndusInd Bank reported a 64.4% YoY rise in its standalone profit to ₹1,603.29 crore during Q1 FY23 on an uptick in net interest income
The Sensex and Nifty are headed for a strong opening on Wednesday, following a rally in Asia and positive closing on Wall Street overnight as robust earnings eased rate hike concerns.
The Sensex and Nifty are set to rise in opening trade on Thursday, following firm cues from global peers and positive trends on SGX Nifty.