Indian shares pared morning gains to end flat on Monday as losses in IT and metals offset gains in banks and auto stocks. Meanwhile, the investors awaited data on consumer price inflation (CPI) for June and industrial output for May.
The Sensex ended 13 points lower at 52,372 while the Nifty was up 3 points at 15,692.
Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up around half a percent each.
The Nifty Bank added around 0.4 percent with ICICI Bank rising over a percent. The Nifty Auto index was flat but in the green as it snapped a four-day losing streak.
Here are the key stocks that moved today:
Federal Bank: Shares of Federal Bank jumped 4.6 percent to Rs 89.60 on the BSE after the Reserve Bank of India (RBI) approved the re-appointment of Shyam Srinivasan as managing director and chief executive officer of the bank. He has been reappointed for another three years with effect from September 23, 2021, till September 22, 2024.
Equitas Holdings, Ujjivan Financial Services: Shares of Equitas Holding, promoter of Equitas SFB, and Ujjivan Financial Services, promoter of Ujjivan SFB rallied after they received RBI nod to initiate steps and file for a scheme of amalgamation of the promoter entity with the bank. All four entities are listed. The RBI has permitted the small finance banks (SFBs) to apply for a reverse merger. This means the small finance banks can now merge with their respective holding companies.
Equitas Holding was locked in a 20 percent upper circuit at Rs 138.40, its 52-week high while Equitas SFB rose 6.7 percent to Rs 69.50. Similarly, Ujjivan Financial Service was locked in its 20 percent upper circuit at Rs 244.90 on the BSE while Ujjivan SFB was up 1.6 percent to Rs 31.
Tanla Platforms: Shares of Tanla Platforms were locked in a five percent upper circuit at Rs 886.25 after the cloud communication company announced that its board will consider share buyback in its next meet.
Hatsun Agro Products: Hatsun Agro Products share price rose over 9 percent to Rs 1,025 after the company commenced commercial production of milk at its Uthiyur plant. The Tamilnadu Pollution Control Board (TNPCB) granted its consent to operate the company’s plant situated at Uthiyur Village, Kangeyam Taluk, Tirupur District, Tamilnadu, the company said in its release.
(Edited by : Pranati Deva)