Business India

Sensex Update: AXIS bank surges 5% , RCOM top performer at BSE after Debt restructuring plan

Sensex Update: AXIS bank surges 5% , RCOM top performer at BSE after Debt restructuring plan
Written by Ashish Sharma

India’s leading Index BSE and NIFTY started on a weaker note on Tuesday. BSE trading 29 points down to 29236 while NIFTY was down 18 points to 10350.Axis Bank and RCOM appeared on Top performers at BSE. Axis bank surged 34 points to 518.20 while RCOM gains 1.30 points to 17. The shares of RCOM gains heavy volumes on BSE after the company presented fresh debt restructuring plan to lenders by proposing banks convert Rs 7,000 crore of loans into a 51% stake in the RCOM.Top losers on BSE today are Adanitrans drops 10 points to 207.45, GSPL drops 9.30 points to 199.90, SPARC loses 18.60 to 418.35.Union bank drops 7.15 point 176.50 at 13:00 IST.

Top picks of the day: Buy RCOM for Target of 21 and Maintain Stop loss of 17 hold for 2 weeks. Hold Religare for the target of 45 and stop loss of 32.Buy Axis Bank for a Target of 550 and Stop loss of 510 Hold it for a Month.Sell ITC for a Target of 250 and maintain Stop Loss of 280 hold for 1-2 Weeks.Buy Union Bank for Target of 190 and Maintain Stop loss of 168, hold it for 1-2 Weeks.

Asian markets were mixed on Monday opened.Nikkei edged down 0.06% to 22011own Under SNP rose 0.28 percent 0.17%, Hong Kong’s leading index Hang Sang as up 0.02% to 28343, Shanghai Composite gains 3points to 3393.

About the author

Ashish Sharma

Ashish is a techie who is a finance and stocks hobbyist. He loves to contribute and create awareness by writing on business and finance