Cholamandalam Investment gains on bagging payment bank licence
Aditya Birla Nuvo, Tech Mahindra and Bharti Airtel are up 1%-2% each on the BSE.
 "Cholamandalam Investment gains on bagging payment bank licence")
Shares of Aditya Birla Nuvo, Tech Mahindra, Bharti Airtel and Cholamandalam Investment and Finance are trading higher in an otherwise subdued market after bagging payment bank licences.
Shares of Cholamandalam Investment and Finance have surged nearly 6% to Rs 711 on the BSE in early morning trades. Aditya Birla Nuvo (up 2% at Rs 2,310), Tech Mahindra (1.5% at Rs 569) and Bharti Airtel (1.5% at Rs 389) are up 1%-2% each, while Reliance Industries is trading flat at Rs 953 on the BSE.
At 09:20 AM, the S&P BSE Sensex was down 0.21% or 55 points at 27,876.
The Reserve Bank of India (RBI) on Wednesday allowed 11 business houses, including Reliance Industries, the Aditya Birla group and leading telecom companies Airtel and Vodafone to start payments banks.
The licence will add another revenue stream for these companies. CLICK HERE TO READ FULL REPORT.
Shares of Cholamandalam Investment and Finance have surged nearly 6% to Rs 711 on the BSE in early morning trades. Aditya Birla Nuvo (up 2% at Rs 2,310), Tech Mahindra (1.5% at Rs 569) and Bharti Airtel (1.5% at Rs 389) are up 1%-2% each, while Reliance Industries is trading flat at Rs 953 on the BSE.
At 09:20 AM, the S&P BSE Sensex was down 0.21% or 55 points at 27,876.
The Reserve Bank of India (RBI) on Wednesday allowed 11 business houses, including Reliance Industries, the Aditya Birla group and leading telecom companies Airtel and Vodafone to start payments banks.
The licence will add another revenue stream for these companies. CLICK HERE TO READ FULL REPORT.