IFCI sells 0.5% stake in NSE

Last week, SBI had sold 5% stake in the bourse NSE to Mauritius-based Veracity Investments for Rs 911 crore

IFCI has sold about 0.5% stake in NSE for Rs 89 crore, according to reports,

Report says that IFCI sold 2.25 lakh shares, or a 0.5 per cent stake, in the stock exchange at a price of Rs 3,950 apiece.

Last week, SBI had sold 5% stake in the bourse NSE to Veracity Investments for Rs 911 crore.

IFCI Ltd is currently trading at Rs. 28, down by Rs. 0.05 or 0.18% from its previous closing of Rs. 28.05 on the BSE.

The scrip opened at Rs. 28.3 and has touched a high and low of Rs. 28.45 and Rs. 27.9 respectively. So far 280592(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4662.02 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.95 on 21-Oct-2015 and a 52 week low of Rs. 17.55 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 28.15 and Rs. 25.6 respectively.

The promoters holding in the company stood at 55.53 % while Institutions and Non-Institutions held 22.24 % and 22.22 % respectively.

The stock is currently trading above its 50 DMA.

Top 19 stocks in focus today: UltraTech Cement, Tata Steel, Reliance Industries

Check out the companies which will be in focus during trade today based on recent and latest news developments

JP Associates, UltraTech Cement: The Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, in continuation of its agreement signed on the 31st of March 2016, approved a Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their respective shareholders and creditors for acquisition of cement plants for a total capacity of 21.2 mtpa at an enterprise value of Rs.16,189 crore.

Tata Steel: The company said its hot steel production rose by 16.66 per cent to 3.01 million tonnes (MT) in the first quarter of the current fiscal.

Reliance Industries Ltd: The company has received approval from the Ministry of Environment & Forests (MoEF) to drill eight additional exploratory wells in Tamil Nadu, according to reports.

Dabur: The company is launching fruit-based carbonated drinks to cater to customers wanting fizzy beverages without feeling guilty about consuming them, as per media report.

IFCI: IFCI sold 2.25 lakh shares in NSE at Rs.3,950 a share. However, the company put on hold selling its remaining 3.05 per cent stake in NSE.

Zensar Technologies: The company reportedly said it is launching a client assurance organisation and an in-house crowdsourcing programme as the company puts in place new processes to boost growth.

Fertiliser stocks in focus: The government on Monday cut retail prices of non-urea based fertilizers by up to Rs.5,000 per tonne, as per media report.

Bajaj Auto: Rahul Bajaj reportedly said that although India’s GDP can hit a steady-state of around 8.5% for several years, employment “will not rise at anywhere close to that rate of growth”.

Auto stocks in focus: SC reserved its verdict on petitions seeking modification in order banning registration of diesel-run SUVs and high-end cars with engine capacity of 2000CC and above in Delhi and NCR.

Tata Teleservices: The company is gradually shutting its CDMA operations running on the 850 Mhz band and writing off its equipment value, said three people familiar with the company's plans.

Usher Agro Ltd: The company announced that as per the minutes of the meeting of the Joint Lenders Forum (JLF) held on May 13, 2016, the lenders have decided in favour of invocation of Strategic Debt Restructuring (SDR) in the Company to preserve the value of the Company and adopted the "Reference Date" for the purpose as May 13, 2016.

Bhushan Steel Ltd: The company announced that for the purpose of capacity addition from 4.00 million Tons to 5.00 million Tons per annum of Hot Strip Mill of the company situated in Orissa, the Company is taking shut down of said Mill for about 20 days.

Asian Granito India: The company said that the board of directors of the company has announced launch of Premium Grestek, glazed vitrified tiles and Grestek Marvel, premium color body tiles for wall and floor. These products are fresh in the segment with touch of Italian choices, Asian Granito India said. It consists of natural wood patterns, natural stone designs, metallic and special effect surfaces with color and decor options, the company said.

Sangam (India) Ltd: The company is planning to open 10-15 stores in tier I and tier II metro towns by March 2017 and has floated a 100 per subsidiary for the purpose.

Jindal Stainless: Jindal Stainless has alloted 168.2 mn equity shares for about Rs.3.66 bn on preferential basis to Jindal Stainless to pay off its dues to the latter.

FDC Ltd: The company has received two observations from the US health regulator related to current good manufacturing practice (cGMP) norms for its manufacturing facility situated at Waluj in Maharashtra.

Hero MotoCorp: The company has inked a wage settlement pact with its permanent workers at Gurgaon plant, entailing an hike of Rs12,500 spread over three years, as per meedia reports.