Stock-specific activity is likely to remain in focus on Dalal Street on October 15, following a slew of corporate developments, brokerage recommendations and earnings.
Shares of Leela Palaces Hotels & Resorts added 5% after research house Jefferies maintained Buy with target price at Rs 735/share and Nomura also maintained 'buy' rating with a target price at Rs 650/share.
IDBI Bank share price fell 5% after Fairfax Financial Holdings-backed Canada Inc has been approved as the strategic buyer of IDBI Bank, with the government and Life Insurance Corporation of India (LIC) set to divest a combined 60.72% stake for Rs 52,878 crore. The government will divest a 30.48% stake in the bank, while LIC will sell its 30.24% stake. Canada Inc will acquire the shares at Rs 81 apiece. Following the transaction, the government will retain a 15% stake in IDBI Bank, while LIC will continue to hold 19%.
Share price of HDB Financial Services share price fell 4 percent even though the company reported a 34.2 percent year-on-year jump in Q2 profit to Rs 780.2 crore, while net interest income rose 15.6 percent to Rs 2,533.7 crore.
Bajaj Consumer Care share price declined 4 percent despite the company reported a 65.9 percent year-on-year surge in Q2 consolidated profit to Rs 70.2 crore, while revenue grew 25.5 percent to Rs 332.8 crore.