Nifty begins April series on a positive note, Sensex up 100 pts.
Shares of Can Fin Homes declined 8 percent in the early trade on Monday as Canara Bank called off the divestment process in the company.
The bank decided to called off the divestment process since the quote received was not in tune with the valuation, as per BSE release.
Canara Bank holds 30 percent stake in Can Fin Homes.
The Sensex is up 96.72 points or 0.29% at 33065.40, while the Nifty is up 41.90 points or 0.41% at 10155.60.
ICICI Bank is lower by over 3 percent on the back of negative developments around its CEO Chanda Kochchar, while Axis Bank is also trading lower by over 1 percent.
A media reported said that the RBI has asked the lender to review Shikha Sharma’s tenure.
Among other stocks, Canara Bank is also trading lower by around 6 percent after it called off its stake sale in Can Fin Homes. GAIL, Vedanta, Maruti Suzuki and Tata Motors were trading in the green, while Titan was lower by half a percent
Pre-opening rates for the market in the new financial year have kicked in. The Nifty is trading flat, while the Sensex is seen lower by over 100 points.
ICICI Bank is down around 10 percent, while Axis Bank is down around 4 percent.
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