 "Banks under pressure; ICICI, IndusInd, BOB, IDFC First down up to 3%")
Banking stocks remained under pressure, with Nifty Bank index down nearly 1 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day trade following reports of the Securities and Exchange Board of India (Sebi), India's market regulator, issued a "show-cause notice" to Hindenburg Research on June 27th, 2024.
The US-based short seller has alleged 'surreptitious aid' by the Sebi to the Gautam-Adani led group and also named a private bank in the Adani-Hindenburg saga.
ALSO READ: Hindenburg receives show cause notice from Sebi over Adani issue
Among the banking stocks, ICICI Bank, IndusInd Bank, IDFC First Bank, Bandhan Bank and Federal Bank from the private sector and Bank of Baroda (BOB), Punjab National Bank and State Bank of India (SBI) from the public sector slipped in the range of 1 per cent to 3 per cent.
Shares of Restaurants Brand Asia soared up to 5 per cent at 113.92 per share on the BSE in Friday’s intraday. This came after the company informed the Indian exchanges about the bulk deal executed on Thursday.
According to data from the BSE website, HDFC Mutual Fund has acquired 4.55 million shares of Burger King’s parent company, representing approximately 0.90 per cent of its total paid-up capital.
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The fund purchased shares of Restaurant Brands Asia at Rs 110.46 per share on Thursday, amounting to a total investment of Rs 50.26 crore.
According to reports, HDFC Mutual Fund entered into the small-cap company's shares while global investor Goldman Sachs India Equity Portfolio was reducing its stake.
Bajaj Auto CNG bike launch: Shares of Bajaj Auto gained 2 per cent to Rs 9,660 per share on the BSE in Friday's intraday trade. The rise in Bajaj Auto's share price came after the two-wheeler major launched the world's first CNG bike.
At 3:00 PM, Bajaj Auto share price was at Rs 9,655 per share, up 1.9 per cent, as against 0.57 per cent fall in the benchmark BSE Sensex.
On Friday, July 5, 2024, Bajaj Auto launched the world's first CNG motorcycle-Freedom 125. The starting price of Bajaj Auto's first-ever CNG bike has been set at Rs 95,000 (ex-showroom, India), and will go up to Rs 1.10 lakh. It said the CNG-based Bajaj Freedom 125 bike will be available in three variants.
The CNG bike, Bajaj Auto said, will have flexible/switchable fuel options between petrol and CNG.
"Bajaj Freedom 125 will be powered by a 125cc single-cylinder engine, which can run on both petrol and CNG and generates 9.5 PS of maximum power and 9.7 Nm of peak torque. The model will have a range of 300 kilometers," said Rajiv Bajaj, managing director of Bajaj Auto.
In March, Bajaj had said that in CNG bikes, carbon dioxide emission is down by almost 50 per cent, carbon monoxide by 75 per cent, and non-methane hydrocarbons by 90 per cent when compared to gasoline. He had also said it would effectively double mileage or halve the cost of fuel.