Cheering on the results, the share price of Bank of Maharashtra closed 19.83 percent higher at Rs. 13.90 per share on the NSE on Tuesday. Meantime, the BSE Sensex closed down 176.27 points at 33891.13, while the NSE Nifty is lower by 52.50 points at 10198.40 in trade.
India’s sugar output is likely to decline by 3% to 31.5 MT in the current marketing year, due to untimely rains and pest attacks that hit the cane crop, as well as diversion of cane juice for ethanol, Indian Sugar Mills Association (ISMA) said on Monday.
The facility will provide as a second line of defence for the rupee after the USD 393.5 billion of foreign exchange reserves that the RBI has at its disposal. Under the pact, India can acquire dollars from Japan in exchange for rupees.
The NCDEX on Friday imposed additional 5% margin on all castor seed futures contracts following the continual rally in the prices since the beginning of October month. The additional margin, 5% on both long side and short side, will be applicable with effect from October 30, 2018
Axis Bank in its filing to the Stock Exchanges, has announced that it would sell 19.79 lakh shares (4.95% stake) in National Securities Depository (NSDL) to HDFC Bank for total cash consideration of Rs.163.34 crore.
Stock prices are inclined to rise when earnings results beat market expectations; on the other hand, disappointing earnings results tend to lower share prices.