Gold Silver Reports (GSR) – The private lender named Sandeep Bakhshi as its chief operating officer for five years, according to a bank statement filed with the stock exchanges after a day-long board meeting. Bakhshi, currently COO designate, will take over as COO on June 19 or on receiving regulatory and other approvals, whichever is later.
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Pokarna Declines After Well Known Investor Sells Stake
Gold Silver Reports (GSR) – Pokarna Declines After Well Known Investor Sells Stake – Shares of the Secunderabad-based company engaged in business of granite quarrying fell as much as 3 percent to Rs 174.50 after well-known investor Ashish Kacholia sold 1.2 percent stake in the company.
Metal Index Drops Over 2.5% As Vedanta Drags
Gold Silver Reports (GSR) – Metal Index Drops Over 2.5% As Vedanta Drags – Metal stocks were facing selling pressure dragged by weakness in Hindustan Zinc, Jindal Steel and Vedanta.
Vedanta Set For Its Longest Losing Streak In Over Three Months
Gold Silver Reports (GSR) – Vedanta Set For Its Longest Losing Streak In Over Three Months – Shares of the metal maker extended its decline for the seventh straight session today, its longest losing streak since March 9. The stock fell as much as 3.3 percent to hit a 52-week low at Rs 230.65 apiece.
NSE-SGX Arbitration Order Unlikely This Year
Gold Silver Reports (GSR) – NSE-SGX Arbitration Order Unlikely This Year — The dispute stems from NSE’s decision to terminate its data-sharing pact with its Singapore partner. The Indian bourse, along with two other domestic exchanges, decided to stop sharing data with foreign peers to prevent volumes from shifting overseas and to promote trading in GIFT City, the international financial hub in Gujarat. Since such contracts are used by foreign investors to hedge their position in India, SGX decided to offer derivatives mirroring NSE’s indices based on public data.
BSE Drops Two Pharma Stocks From Sensex; Replaces Them With Private Banks
Gold Silver Reports (GSR) – BSE Drops Two Pharma Stocks From Sensex; Replaces Them With Private Banks – The S&P BSE Sensex will include two more banks from mid-Dec. while two pharmaceutical stocks will exit the index.
Stocks To Watch – After Interest-Rate Hike By Neal Bhai Reports INDIA
HDFC Bank: Cabinet approves raising of additional share capital of HDFC Bank up to a maximum of Rs 24,000 crore. The Cabinet Committee on Economic Affairs today allowed an additional Rs 24,000 crore foreign direct investment into private sector lender HDFC Bank.