Top gainer: SBI Life 1,723▲ 51 (+3.1%)
Top loser: ONGC 330 ▼ 5 (-1.6%)
Akums Drugs shares hit lower circuit after NSE & BSE seek clarification on stock price movement
Akums Drugs and Pharmaceuticals shares hit their lower circuit on Tuesday, August 20, after the stock exchanges sought clarification from the company regarding a “significant” movement in stock price. The stock was trading at ₹1,063.9, down 5%- its lower circuit limit on the National Stock Exchange (NSE). The market capitalisation stands at ₹16,745.93 crore. Read more
Bajaj Auto shares in focus as firm to hike provisions for deferred tax
Shares of Bajaj Auto were on investors’ radar on Tuesday, August 20, as the two-wheeler major said on Monday it would need to increase its provision for deferred tax by ₹211 crore due to the withdrawal of indexation benefits and a change in the tax rate on long-term capital gains in debt mutual funds. Bajaj Auto said the Finance (No. 2) Act 2024 withdraws the indexation benefit on long-term capital gains on debt mutual funds purchased before April 1, 2023. Read more
IndusInd Bank shares gain nearly 2% as lender gets RBI nod to launch MF business
IndusInd Bank shares gained as much as 1.78% to ₹1,371.75 apiece in the early trade on Tuesday, August 20, as the private sector lender informed exchanges on Monday that it has received approval from the Reserve Bank of India (RBI) for setting up a wholly-owned subsidiary to undertake asset management business of mutual fund along with infusing equity capital in the said asset management subsidiary. Read more