BSE Sensex trades marginally higher, while the Nifty 50 trades around 10,480. Here are the latest updates from the markets
Shares hit record highs at the open on Wednesday, surpassing the previous milestone hit more than a month ago, as Prime Minister Narendra Modi’s electoral victories in key states continued to lend support. But some caution set in ahead of the release of the minutes from the Reserve Bank of India’s policy meeting earlier this month in which the policy rate was kept unchanged, Reuters reported. The minutes are scheduled to be released after the market closes. The NSE Nifty rose as much as 0.3% to an all-time high of 10,494.45, surpassing its previous record on 6 November. Meanwhile, the Sensex rose as much as 0.35% to hit a record of 33,956.31, surpassing its previous milestone on 7 November. Here are the latest updates from the markets:
3.10 pm IST
Bank of India shares plunge after RBI corrective action
Shares of Bank of India sank 5.3% to Rs171.70 after the company disclosed that the Reserve Bank of India has put the bank under prompt corrective action framework after reviewing the bank under the risk supervision model. “This is in view of high net NPA, insufficient CET1 Capital and negative ROA for two consecutive years,” the bank said in a BSE filing.
3.08 pm IST
OYO says no IPO plan for now
Online hotel aggregator OYO does not have immediate plans to come out with an IPO, its founder and CEO Ritesh Agarwal told PTI. “For the time-being, we are in an early stage of the company and early stage of the market, so for the time being we are not commenting on any specific public offering plans,” he said when asked if the company has IPO plans.
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