12.10.2020 Share Market Update| Stock Result, Stock Analysis and Important Data |MMM|TAMIL
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•Market Update: The Sensex ended 327 points higher at 40,509 while the Nifty rose 79 points to settle at 11,914
•The Nifty Bank surged 2.8 percent while the Nifty Fin Services jumped 1.8 percent. Nifty IT also added 0.6 percent for the day.
•RBI Monetary Policy: Repo rates unchanged at 4%. Increase in exposure to retail and small borrowers from 5 crores to Rs 7.5 crore and rationalizing risk weights for all new housing loans till March 31, 2022. Real GDP expected to decline by 9.5% with risks tilted towards the downside, announces Das
•The Reserve Bank of India (RBI) on Friday proposed to start the round-the-clock availability of real-time gross settlement (RTGS) facility from December 2020 for swift payments.
•Housing finance companies gain | Share price of housing finance companies gained 2-8 percent on October 9 after the Reserve Bank of India rationalised the risk weights on housing loans. LIC Housing Finance was the biggest gainer with 7 percent gains, followed by GIC Housing Finance and Indiabulls Housing Finance up 4 percent each and Can Fin Homes gaining 5 percent. "Under the extant regulations, differential risk weights are applicable to individual housing loans, based on the size of the loan as well as the loan-to-value ratio (LTV)," RBI governor Shaktikanta Das said in its policy statement.
•Vedanta Delisting Offer Fails : Out of 134 crore shares bid received for around 126 crore shares.
•Steel Strips Wheels The stock price jumped 6 percent after the company's net profit went up 82.3 percent at Rs 14 crore against Rs 7.7 crore (YoY). Revenue was up 11.8 percent at Rs 405 crore against Rs 362.1 crore (YoY).
•Lakshmi Vilas Bank The stock jumped over 9 percent after the bank said it had received an indicative non-binding offer from the Clix Group.
•Solar Industries The stock added 2 percent after the company bagged an order worth Rs 447 crore. ZEN Tech | CMP: Rs 83.40 | The share price gained 12 percent after the company bagged order worth Rs 40 crore. It received an order from a government customer for annual maintenance contract for a period of five years for an approximate value of Rs 40 crore, the company said in an exchange filing.