Stock Corner:
1.
Equity benchmark indices extended gains for the third consecutive session on Tuesday led
by gains in banking and information technology stocks. Yes Bank was the top gainer in the
Nifty50, the stock rose 5%, followed by Zee Entertainment, ONGC, Vedanta, and IndusInd
Bank. However, shares of Indiabulls Housing Finance, Sun Pharma, M&M, and Tech Mahindra
fell in today’s trade.
2. The Adani Ports and Special Economic Zone said in the filing on Tuesday that the company
board has approved the proposal for the buy-back by the company of up to 3.92cr equity
shares from the equity shareholders of the company as on June 21, 2019, at a price of Rs500
per equity share for an aggregate amount not exceeding Rs1,960cr.
3. Indian Oil Corporation Limited (Indian Oil), Bharat Petroleum Corporation Limited (BPCL)
and Hindustan Petroleum Corporation Limited(HPCL) have signed an Agreement for
formation of a Joint Venture Company for implementation and subsequent operation of 2757
Km long LPG Pipeline from Kandla, Gujarat to Gorakhpur, UP. Indian Oil, BPCL and HPCL
would have 50%, 25% and 25% equity holding in the JV Company
Stock in ban period IDBI, DHFL, PCJEWELLER, RELCAP