Live: Sensex, Nifty Near Day’s Low; India VIX Up 6%
Stock Reaction: City Union Bank
The private lender announced on Monday that it will raise further capital to the tune of Rs 600 crore through a QIP, subject to shareholder approval.
The lender had secured shareholder approval last year to raise funds worth Rs 500 through a QIP, but had not utilised the same, the exchange filing said.
The bank will also raise Rs 500 crore through issue of unsecured perpetual debt instruments, NCDs, Basel-III compliant Tier-I and Tier-II bonds or other such debt securities, on a private placement basis.
Shares fell as much as 3.3% to Rs 123.5, down for the third straight day.
June WPI At -1.81%
The Wholesale Price Index fell 1.81% in the month of June, as compared to a 3.21% decline in May, the Ministry of Commerce and Industry stated.
18 analysts surveyed by Bloomberg had expected the WPI to decline 2.4% this month, with estimates ranging between a decline of 1.5% to a decline of 3.6%.
Primary article prices fell 1.21% compared to last year, while that of fuel, power and lighting fell 13.6%.
Wholesale food prices rose 2.1% year-on-year while Manufactured product prices were flat compared to the previous year.
Markets At Noon
- Benchmark indices extend losses; near day's low
- Nifty down 1.42% at 10,649
- Sensex down 1.37% at 36,184
- Nifty Bank down 2.7% at 21,494
- Nifty Midcap Index down 1.2%
- Nifty Smallcap Index down 1.7%
- India Volatility Index up 6% to 26.76
- Nifty Pharma is the only sectoral gainer; up 0.2%
- Nifty PSU Bank extends losses; down 3.2%
- Nifty Auto, Nifty Metal decline over 2% each while Nifty Media falls 1.7%
- Bharti Airtel is the top Nifty gainer; up 1%
- IndusInd Bank is the top Nifty laggard; down 4.6%
- 45 out of the 50 Nifty constituents decline
- 395 stocks on the NSE trade with gains while 1,356 decline
Ahead Of The RIL AGM
Stock Reaction: Phoenix Mills
The company informed the exchanges on Monday that the Board of Directors have approved raising of funds not exceeding Rs 1,100 crore through issue of equity shares, NCDs or through any other option on a preferential basis or through private placement or any other permissible mode.
It will also issue up to a maximum of 15.62 lakh equity warrants, convertible into a maximum of 15.62 lakh equity shares having a face value of Rs 2 each worth Rs 100 crore.
The warrants will be issued to a promoter group entity - Ashok Apparels, at a premium of Rs 638 per share, as per the exchange filing. The conversion option can be exercised at any time during the period of 18 months from the date of allotment.
Shares fell as much as 3.6% to Rs 571.65, down for the second straight day.