Top gainer: IndusInd Bank 692 ▲ 36 (+5.63%)
Top loser: Infosys 1,574 ▼87 (-5.24%)
Shares of Kaynes Technology India tanked as much as 9.1% to ₹3,898 apiece on the NSE
Shares of Kaynes Technology India, the Bengaluru-based electronic products maker, tanked as much as 9.1% to ₹3,898 apiece on the NSE on Wednesday, March 12, after the company on Tuesday informed exchanges that its managing director, Ramesh Kunhikannan, received a show-cause notice from the market regulator, the Securities and Exchange Board of India (SEBI). The notice alleges suspected violations in the maintenance of the structured digital database (SDD) pertaining to financial results for the period ended March 31, 2023, as per SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations”).
Shares of PB Fintech slipped as much as 8.16% to ₹1,349 apiece on the NSE
Shares of PB Fintech, the parent company of PolicyBazaar, slipped as much as 8.16% to ₹1,349 apiece on the NSE on Wednesday, March 12, after the company on Tuesday said it proposes to infuse ₹696 crore in its subsidiary PB Healthcare Services in the next financial year (FY26) to grow its business. It further said that the capital infusion would be done to meet its general operating expenses and enhance brand awareness, office presence, and strategic initiatives.
Shares of IndusInd Bank were trading in the green in the early trade today
Shares of IndusInd Bank, the private sector lender, were trading in the green in the early trade on Wednesday, March 12, a day after the lender’s shares tumbled 27%, following the report of an accounting discrepancy. The stock jumped as much as 5.9% to ₹694.70 apiece on the NSE. In a stock exchange filing, private sector lender IndusInd Bank on Monday disclosed that the bank has noted some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35% of the bank’s net worth as of December 2024 as per its internal review.