Gold Silver Reports (GSR) – Shaily Engineering Surges To Record High After HDFC MF Buys Stake – Shares of the Gujarat-based plastic products maker rose as much as 8 percent to record high of Rs 1,510 after HDFC Mutual Fund bought stake in the company. HDFC Mutual Fund bought 99,134 shares or 1.2 percent equity at Rs 1,300 each, according to data available on the stock exchanges.
IDFC Surges 7%; Company In Talks To Sell AMC, Broking Unit: Report
Shares of the Mumbai-based commercial finance company rose staged a sharp upmove an rose as much as 7.15 percent, the most in over six months, to intraday high of Rs 56.29. IDFC is in talks to sell its asset management and stock broking units, The Economic Times reported citing unidentified people familiar with the discussions.
The Economic Times report said:
✅ Company is in talks with IndusInd Bank, Yes Bank, Bain Capital and Warburg Pincus for sale of its mutual fund business for about Rs 4,000-4,500 crore.
✅ Separately, company is in talks with Yes Bank to sell IDFC Securities for Rs 1,500-2,000 crore.
