PB Fintech gains over 6 percent as hedge fund buys stake

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• After clocking record highs in the previous session, domestic indices traded with volatility amidst mixed global cues and rising crude prices. While FIIs turning net buyers is a positive, the lack of fundamental triggers will limit the upside. Media, realty and auto shares advanced while FMCG, banks and financial stocks declined.

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News you could use

? PB Fintech gains over 6 percent as hedge fund buys stake
WF Asian Smaller Companies Fund bought 67.75 lakh shares in Policybazaar operator via open market transactions, which is 1.5 percent of total paid-up equity. The fund has purchased 34.21 lakh shares on the NSE and 33.53 lakh shares on the BSE, at an average price of Rs 400 per share. The stake buy was worth Rs 271 crore.

? Engineers India share price rallies winning new project 
The stock ended in the green after the firm said that it has been awarded the job by Mangalore Refinery & Petrochemicals Limited (MRPL) for preparation of BDEP, DFR and pre-project activities for the bio-ATF plant at MRPL

? PNB stock price rallies on approval to sell stake in UTI AMC
PNB announced it has received the Government of India’s approval for a stake sale in UTI Asset Management Company.

News from the IPO world?

• Virat Kohli backed Go Digit gets IRDAI approval for stock market listing
• Uniparts India’s sets IPO price band at Rs. 548-577
• Pharma and diagnostics investor Conviction Life files for IPO

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