Rana Kapoor led promoter entities Yes Capital and Morgan Credits Pvt Limited have sold their remaining 0.8% stake in YES Bank. This was reported to the exchange today. This ends an era for Rana Kapoor, the former CEO and MD of YES Bank, which he had founded in 2003, when he and his two co-founders were granted a banking licence by the RBI. The founders had stressed a goal of "Building the Best Quality Bank of the world in India" by 2015. In 2019, YES Bank has a completely different team at its helm.
Essel Propack, Pi Industries, Alkem Labs hit fresh year highs.
16.6 lakh shares of SBI, 11.1 lakh shares of Airtel changed hands in block deals. Airtel has touched a fresh 52 week high today.
Approximately 24 lakh shares of cigarette company ITC and 10 lakh shares of auto ancillary firm Motherson Sumi changed hands in large deals.
As the new SEBI rule for splitting the CMD role - 'Chairman and Managing Director' - into two separate positions nears deadline, opposition is rising among heads of family companies, including Bajaj and TVS, whose Chairmen have termed the approach a 'Western idea'.
Vodafone Idea, Essel Propack are among the top gainers in markets today
Riding High:
Largecap and midcap gainers today include Vodafone Idea Ltd. (6.05, 35.96%), Bharti Infratel Ltd. (252.10, 11.16%) and Bharti Airtel Ltd. (442.45, 8.13%).
Downers:
Largecap and midcap losers today include SBI Life Insurance Company Ltd. (935.45, -6.46%), Edelweiss Financial Services Ltd. (122.70, -4.88%) and Jindal Steel & Power Ltd. (138.95, -4.47%).
Crowd Puller Stocks
33 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included UCO Bank (15.60, 20.00%), Oriental Bank of Commerce (62.85, 19.94%) and Tejas Networks Ltd. (81.20, 19.94%).
Top high volume losers on BSE were SBI Life Insurance Company Ltd. (935.45, -6.46%), Jain Irrigation Systems Ltd. (11.45, -4.98%) and Shriram City Union Finance Ltd. (1327.90, -1.43%).
Future Lifestyle Fashions Ltd. (405.00, 2.40%) was trading at 20.0 times of weekly average. Allahabad Bank (25.85, 2.58%) and Andhra Bank (20.30, 16.67%) were trading with volumes 14.4 and 12.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
10 stocks took off, crossing 52 week highs, while 11 stocks hit their 52 week lows.
Stocks touching their year highs included - Bajaj Finserv Ltd. (9158.30, 0.59%), Bharti Airtel Ltd. (442.45, 8.13%) and Essel Propack Ltd. (147.45, 7.75%).
Stocks making new 52 weeks lows included - Bajaj Electricals Ltd. (309.75, -2.72%) and Blue Dart Express Ltd. (2144.20, -0.70%).
15 stocks climbed above their 200 day SMA including Corporation Bank (26.45, 19.95%) and Endurance Technologies Ltd. (1100.00, 5.78%). 13 stocks slipped below their 200 SMA including Jindal Steel & Power Ltd. (138.95, -4.47%) and KNR Constructions Ltd. (236.40, -4.18%).
