Good afternoon
NIFTY 50 is trading flat after making a new all time high at 22,297 and is currently hovering around 22,150 levels.
Top gainer: LT: 3,489 ▲ 101 (+3%)
Top loser: Asian Paints: 2,878 ▼ 107 (-3.6%)
Infibeam surges on expansion plan
Shares of the fintech company are up around 7% today. This comes after the company said that it is expanding its global footprints by acquiring a 20% strategic stake in US‐based XDuce which is an enterprise application and AI development company. This acquisition will help the company to penetrate the US.
HDFC Bank gains on RBI approval to sell stake in Credila Financial Services
On Friday, HDFC Bank announced that it has received approval from the Reserve Bank of India to sell 90% of its stake in HDFC Credila Financial Services Ltd to a consortium of private equity players. HDFC Bank share trades higher, up 0.4%, with a day high of ₹1,429 per share.
Paint shares trade lower on rising competition concern
Leading paints manufacturers lost sheen in today’s trading session. Asian Paints and other players such as Berger Paints and Kansai Nerolac declined up to 5% on NSE on Monday following concerns over increased competition in the industry after the entry of Aditya Birla group firm Grasim Industries into the decorative paints segment.