Reliance shares decline after the impose ban; Sintex rises

Shares of Reliance Industries Ltd (RIL), fell as much as 2.3% today as steep fall in one month, as SEBI penalized the company for unlawful transactions and imposed a one- year ban on it. There were 12 other entities which were imposed one year ban from trading in equity derivatives.

RIL stock touched a low of Rs. 1,259 a share. The RIL stock was trading at Rs 1,262 on BSE, down 2% from its Friday’s close, in late morning trade.

Sintex Industries rose 3.15% to Rs 103 today late morning at BSE, with the stock getting recent gains on renewed buying interest. Sintex stock had hit a high of Rs 103.30, which is a 52-week high for the counter. The stock hit a low of Rs 100.40 so far during the day. The mid cap company owns equity capital of Rs 52.71 crore. the face value per share is Re 1. Sintex Industries had announced on 24 March 2017 that the National Company Law Tribunal approved the composite scheme of agreement between Sintex Industries, Sintex Plastic Technology, Sintex-BAPL and Sintex Infra Projects.

HDFC’s Masala bond issue:- Shares of HDFC gained on the exchanges as the company on last Friday announced that it has completed the issuance of Masala bonds. The issue size is Rs 3,000 crore with a yield of 7.35% per year which will be payable semi-annually. The maturity date of the bonds will be April, 2020. The stock has outperformed the BSE Sensex and BSE Bankex in a period of 1 year and has delivered over 35% returns over the same time span.

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