Banking Stocks Performance for the day

Bank stocks rose after finance minister Arun Jaitley reportedly said that policy announcement will be made on dealing with bad loans in a couple of days. ICICI Bank advanced by 2.94%, HDFC Bank went up 0.06%, Axis Bank rose 0.7%, IndusInd Bank rose 0.57% among others.

Yes Bank on 23 March 2017 said that it will be hitting the market with qualified institutional placement again, aiming to raise USD 650 million. Yes bank stock rose by 0.93% at Rs. 1532.70 12:10 IST

Coming different developments, Drug major Lupin Ltd has obtained approval from the US health regulator to market a Novartis inhalation product Tobi, which is used for treatment of cystic fibrosis, in the American market. Lupin stock rose by 0.08% at Rs. 1489 during mid noon.

Telecom major Bharti Airtel on on 23 March 2017 said that it will acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across 5 circles, for about Rs 1,600 crore. Bharti Airtel’s stock rose by 0.11% at Rs. 342.20, during mid noon.

Siemens Ltd has announced that it has won an order worth around Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. Siemen’s stock rose by 0.65% at Rs. 1248 during mid noon.

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