Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

BCCL
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Indian stock market indices, Sensex and Nifty turned choppy on Wednesday after trading in green territory for a brief while. Financial stocks led the fall amid mixed cues from global markets as investors remained cautious after the first US presidential debate.

The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 am.

Here’s a list of the top losers and gainers in the Nifty pack.
Top Nifty GainersTop Nifty Losers
Dr. Reddy's LaboratoriesIndusInd Bank
CiplaBharat Petroleum
United Phosphorus LtdICICI Bank
Sun Pharmaceutical IndustriesCoal India
Divi's LaboratoriesAxis Bank
*as of September 30, 10:00 am

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These are the top stocks in news today.

VA Tech Wabag up over 6%

The shares of VA Tech Wabag gained 6% in an otherwise volatile market after its board approved allotment of 75 lakh equity shares at a price of ₹160 apiece aggregating ₹120 crore by way of the preferential issue. The list of proposed investors includes Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain.

Reliance Industries (RIL) open 1% higher
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The shares of Mukesh Ambani owned RIL opened 1% higher after its Retail venture, Reliance Retail sealed its third deal this month. The American growth equity firm, General Atlantic has invested ₹3,675 crore into Reliance Retail for a 0.84% stake in the company.

Future Enterprises down 3%

The shares of Future Enterprises lost nearly 3% value after the Kishore Biyani-led company reported a fresh default on interest payment of non-convertible debentures (NCDs). Future Enterprises said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore.

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This also dragged other Future Group stock such as — Future Retail and Future Lifestyle Fashions down 3%, among others.

Housing Development Finance Corp (HDFC) trades higher after amalgamation nod

The shares of Housing Development Finance Corp (HDFC) was trading nearly a percent higher after National Company Law Tribunal (NCLT), Mumbai sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO.

Indiabulls Housing Finance surges 4%

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The shares of the leading private sector mortgage lender Indiabulls Housing Finance gained 4% after it raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management.

Punjab National Bank and Lakshmi Vilas Bank trade lower

The shares of Punjab National Bank was trading 2% lower after reports surfaced that RBI has asked Punjab National Bank to take over Lakshmi Vilas Bank (LVB) in case the beleaguered lender’s proposed transaction with Clix Capital does not materialise.

Lakshmi Vilas Bank was also trading 5% lower during the early trading hours.
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PVR soars 3%

The shares of cinema giant PVR Limited soared 3% ahead of the board meeting on October 5 to consider the proposal of raising funds via non-convertible debentures.

SEE ALSO: Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore

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