YES Bank, Suzlon Energy, Tata Teleservices (Maharashtra) (TTML), MTNL, Reliance Power, Reliance Infrastructure, Future Consumer, Indiabulls Integrated Services and Jet Airways (India) were among the 282 stocks that hit their respective upper circuit on the BSE on Friday.
Indo Count Industries, Himatsingka Seide, Ramco Systems and Godawari Power & Ispat were among the notable stocks that had only buyers queuing up.
YES Bank hit the upper circuit of 5 per cent at Rs 13.35 on the BSE ahead of the September quarter results on Friday. The board of directors of the bank is scheduled to meet on October 23, 2020 to consider and approve unaudited financial results of the bank for the second quarter ended September 2020 (Q2FY21). The trading volume more-than-doubled with a combined 110 million shares changing hands, and there were pending buy orders for 14 million shares on the NSE and BSE, exchange data show.
TTML was also locked in the upper circuit for the fifth straight day, up 5 per cent at Rs 5.87, also its fresh 52-week high on the BSE. The stock of the Tata group telecom services company has more than doubled from Rs 2.82 hit on October 16, 2020.
According to a Business Standard report, Tata group is looking at reviving Tata Teleservices by taking the latter’s technical expertise and enterprise solutions for its SuperApp, which is being built. The Tata SuperApp is expected to bring the entire group’s products as well as services under one platform and enable sales to consumers directly. The SuperApp is targeted for launch by December 2020, the report
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