Monday, 15 January 2018

Stock Market Live Nifty SenSex : Free Stock Tips By TradeIndia Reseach - 15-01-2018

Market Live: Nifty hits 10,700, Sensex up over 180 pts; Capital First gains 5%

Capital First was up over 5 percent as investors cheered the merger announcement with IDFC Bank. The latter was trading around 3 percent lower.




Capital First rose nearly 7 percent in early trade on Monday to hit a fresh 52-week high of Rs 895 after IDFC Bank announced its merger with the non-banking financial company (NBFC) over the weekend.
The share swap ratio has been fixed at 139:10, which means 139 shares of IDFC Bank will be allotted for every 10 equity shares of Capital First.
Capital First is 35.97 percent owned by private equity firm Warburg Pincus, 13.91 percent owned by GIC, while V Vaidyanathan, also the Founder and Executive Chairman, holds the third largest stake at 10.5 percent.
Equities on Monday began the week on a strong note, opening at record highs, while the Nifty began above 10,700 for the first time
The Sensex is up 176.23 points or 0.51% at 34768.62, while the Nifty is up 46.30 points or 0.43% at 10727.60. The market breadth is positive as 840 shares advanced, against a decline of 160 shares, while 243 shares are unchanged.
HDFC, ICICI Bank and Tata Motors gained the most on both indices, while Infosys, M&M and Bharti Infratel were the top losers.
Capital First was up over 5 percent as investors cheered the merger announcement with IDFC Bank. The latter was trading around 3 percent lower.

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