Emami, Max Financial Services, Reliance Industrial Infrastructure and Central Bank of India are among the other stocks to see a surge in volumes on BSE today, 17 June 2016.
JK Lakshmi Cement clocked volume of 1.63 lakh shares by 12:44 IST on BSE, a 19.49-times surge over two-week average daily volume of 8,000 shares. The stock rose 1.91% to Rs 378.45.
Emami notched up volume of 9.93 lakh shares, a 12.15-fold surge over two-week average daily volume of 82,000 shares. The stock fell 0.63% to Rs 1,001
Max Financial Services saw volume of 7.09 lakh shares, a 11.26-fold surge over two-week average daily volume of 63,000 shares. The stock rose 13.83% to Rs 488. The board of Max Financial Services and HDFC Standard Life Insurance Company (HDFC Life), a material non-listed subsidiary of HDFC, have approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a proposal for a potential combination through a merger of Max Life Insurance Company and Max Financial Services with HDFC Life by way of a scheme of arrangement.
The proposed arrangements would be subject to due diligence, definitive documentation and applicable board, shareholder, regulatory, respective High Courts / NCLT, and other third party approvals, as may be applicable. The regulatory statements were issued by Max Financial Services and HDFC separately during trading hours today, 17 June 2016.
Reliance Industrial Infrastructure clocked volume of 7.21 lakh shares, a 10.31-fold surge over two-week average daily volume of 70,000 shares. The stock rose 12.65% to Rs 459.05.
Central Bank of India saw volume of 7.49 lakh shares, a 9.66-fold rise over two-week average daily volume of 77,000 shares. The stock rose 10.97% to Rs 103.70.
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