Reliance Communications plunged 8 percent. Reliance Capital, Reliance Naval and Reliance Infrastructure fall 1 percent each.
The benchmark indices continue to trade lower in the afternoon trade. The Sensex was down 120.36 points at 33604.08, and the Nifty was down 32.10 points at 10367.40. About 1267 shares have advanced, 1296 shares declined, and 135 shares are unchanged.
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SREI Infrastructure Finance was up 1.5 percent as it has decided that 43,86,765 equity shares of SEFL (SREI Equipment Finance) be offered to the public in the proposed offer as part of the offer for sale.
HSBC said given inflation risks are tilting to the upside, the RBI will keep the repo rate on hold at 6 percent in the foreseeable future, giving primacy to the inflation target.
Also, embedded in its own forecasts is the view that growth over the second half of FY18 will be more rapid, perhaps above 7 percent. To that end, the central bank’s support to growth via a rate cut at the risk of missing the inflation target may be unwarranted at the moment. And likewise, a hike would be detrimental to the fragile economic recovery, while other measures to revive private investment are being undertaken.
Fiberweb India today informed BSE that the meeting of the board of directors of the company will be held on December 5 to consider the issue of bonus shares to the existing shareholders.
The trading window for dealing with the securities of the company will remain closed for Directors and other Employees covered under the Code from the closure of business hours of November 28, 2017, to the closure of business hours of December 06, 2017 (both days inclusive).
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