Bank Nifty outperforms led by HDFC Bank
Equity markets have gained momentum in the last hour of trading and are hovering around the day's high. Bank Nifty climbed 243 points to trade at 26,958. However, the index rose 600 points from intraday lows to 27,008.Maximum gains were seen in HDFC Bank, PNB, Bank of Baroda, and Kotak Mahindra Bank, which rose between 2-1% each.
Bajaj Auto to enter e-vehicles space by 2020
Bajaj Auto is looking to enter the electric vehicle space by 2020 with two and three wheeler products, said Rajiv Bajaj, Managing Director of the company.Bajaj added that the company is aiming at 20-25% market share going forward from its current 15-20% share over the next 12 months.When asked if the next few months look difficult because of the global environment, he answered that the scenario in fact looked interesting and exciting on back of some interesting trends that are emerging.
Shanthi Gears approves share buyback at Rs140/share
Shares of Shanthi Gears slipped 2% on the BSE. The company said board of directors declared a one-time special (interim) dividend of Rs5/share for FY19.Further, it has approved the buyback of fully paid up equity shares of Rs1 each not exceeding 5cr shares at a price of Rs140/share.
Govt to assign 10 coal mines to Coal India in 2019: Media report
The Coal Ministry is mulling to assign 10 more coal mines to Coal India in 2019 to meet increasing demand, a PTI report said. Reacting to this, shares of Coal India were trading 0.5% higher.As per the report, the government has already allotted 85 mines to mining companies. Of the total, 23 mines have already started production and the government is expected to assign 20 more mines to start output in FY19 or early in the next fiscal year.
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