Canara Bank to Split Stock; SBI Lowers Mortgage Rate

Mukesh Buch
27 Aug, 2014
New York City

Canara Bank dropped after announcing a stock split for 5-for-1. Supreme Court ordered DLF to pay Rs 630 crore within three months. Infosys maintained revenue growth for the year. SBI reduced its home loan by 0.15%. Venus Remedies in a partnership with Teva.

[R]6:00 PM Mumbai – Canara Bank dropped after announcing a stock split for 5-for-1. Supreme Court ordered DLF to pay Rs 630 crore within three months. Infosys maintained revenue growth for the year. SBI reduced its home loan by 0.15%. Venus Remedies in a partnership with Teva.[/R]

The Sensex Index increased 117.34 or 0.4% to close at 26,560.15 The CNX Nifty jumped 31.30 to 7,936.05.

Gainers & Losers

Canara Bank Ltd slipped 1.1% to Rs 389.10 after the bank’s board approved for a 5-for-1 stock split with face value of Rs 10 each to Rs 2 per share.

DLF Limited declined 4.4% to Rs 183.05 on media report that the Supreme Court asked the company to pay the penalty of Rs 630 crore within three months.

Infosys Ltd increased 0.3% to Rs 3,632.75 after the software company maintained revenue growth for the year in the range of 7% to 9%.

Kingfisher Airlines Ltd plunged 4.1% to Rs 2.80 after the company filed a motion in Delhi high court against Punjab National Bank notice on defaulted in outstanding payment of above Rs.770 crore.

State Bank of India gained 0.4% to Rs 2,503 after the bank slashed its home loan rate by as much as 0.15% from August 26.

Strides Arcolab Limited rose 0.3% to Rs 659.30 after the company received approval from the U.S. Food and Drug Administration for generic Buspirone hydrochloride tablets.

Venus Remedies Ltd surged 14.8% to Rs 295.65 after the company signed strategic collaboration with Israel-based generic drug maker Teva to sell anti-cancer drug in the Canadian market.