Sensex, Nifty trade higher, Shares of Axis bank gained 1.4%

Stock in News, Best Stock Tips, Money Maker Tips, Todays Market Update, Top Investment AdvisoryThe benchmark indices opened higher on Monday, tracking positive trend seen in Asian markets. The BSE Sensex is trading higher by 150.85 points to 33,401.15, while the NSE Nifty50 rises 41.65 points to 10,307.30 in the morning hours.

Stock movements: Shares of Axis Bank rose 1.39 percent at Rs 550 after the bank said its shareholders have given consent to a proposal to raise equity and equity-linked capital of Rs 11626 crore.

Shares of Axis bank gained 1.4 percent after bank’s shareholders approved mobilization of Rs 116.3 billion via shares sale and warrants to a group of investors, including Bain Capital & LIC.

Shares of UltraTech Cement rose 1.73% at Rs 4,225.85 after the company has approved the setting up of a 3.5 MTPA integrated cement plant in Rajasthan, at an investment of Rs 1850 crore.

PNB, Syndicate Bank and Indian Bank are set to launch their QIP offerings in the coming weeks, collectively targeting to raise Rs 6,000 to 7,000 crore.

Rupees: The rupee opened at 64.46 a dollar. The domestic currency was trading at 64.40 per dollar, up 0.09 percent from its last close of 64.46.