• Top gainer on the Nifty Smallcap index
• Gains as much as 6% to Rs 583
• Biggest single-day gain in nearly a month
• Up for the third straight day
• Has gained 11% in the last three trading sessions
• Longest winning streak in two months
• Today's volumes are more than double its 20-day average
• Nearing its 50-Day Moving Average of 594.3
• Has more than doubled from its 52-week low of Rs 273.7, on March 24, 2020, but remains 14.5% below its 52-week high of Rs 682.5 on August 7, 2020
• Eight out of the 10 analysts tracking the stock have a buy recommendation; 0 sell calls
• Return potential of the stock as per Bloomberg data is 25.5%

The lender informed the exchanges on Tuesday that the mutual due diligence between the bank and Clix group is substantially complete and that the parties are in discussion on the next steps.

The bank in June had signed a preliminary, non-binding Letter of Intent (LoI) with Clix Capital and Clix Finance with respect to the proposed amalgamation of the Clix Group with the bank.

The exclusivity period between both the parties was extended to September 15, due to the prevailing pandemic situation.

Shares are locked in an upper circuit of 10% at Rs 22.4. The stock has snapped a two-day losing streak, and is trading at the highest level in two months.

• Benchmark indices in a range in the first hour of trade
• Nifty up 0.2% at 11,544
• Sensex up 0.2% at 39,112
• Nifty Bank down 0.1% at 22,438
• Nifty Midcap index up 0.4%
• Nifty Smallcap index down 0.2%
• India Volatility Index down 0.8% at 20.44
• Nifty Auto is the top sectoral gainer; up 2.2%
• Nifty Media is the top sectoral laggard; down 1.2%
• Most other sectoral indices trade flat
• Mahindra & Mahindra is the top Nifty gainer; up 5.1%
• Top three gainers on the Nifty 50 index are auto stocks
• Asian Paints is the top Nifty laggard; down 1.1%
• 1,025 stocks on the NSE trade with gains while 644 decline

The company has issued a clarification over various media reports doing the rounds that it intends to acquire stake in SMS Pharmaceuticals.

The drugmaker has denied the news, stating that neither the company, nor its promoters have any intentions, plans, or held any discussions to acquire any stake in SMS Pharma or any of its group companies.

"The company has always been relying on organic growth," it said in an exchange filing.

Shares of Divi's Labs trade little changed, up 0.3% at Rs 3,195 post the announcement. The stock is up for the third straight day.

On the other hand, shares of SMS Pharma have halved from the day's high gains of 12.3%. The stock now trades 6% higher at Rs 94.4, and is up for the fourth straight day.