NIFTY, SENSEX climb; ICICI Bank, Jio Financial, Akzo Nobel India, Paisalo Digital among buzzing stocks

Benchmark indices SENSEX and NIFTY were trading in the positive territory on Friday amid fresh foreign fund inflows and a rally in the US markets.

The BSE Sensex climbed 180 points to 83,935 at 12:28 pm, while the Nifty went up 0.26% to 25,615.

From the NIFTY firms, Jio Financial Services, IndusInd Bank, Adani Enterprises, Power Grid, Asian Paints, Reliance Industries and Hero MotoCorp were among the major gainers.

Bajaj Finance, Bajaj Finserv, Dr Reddy's, Grasim, Trent, Eternal, and Axis Bank were among the laggards.

Buzzing stocks on June 27; check list

The JSW Group will acquire a 74.76% stake from ANIL's Dutch promoters/holding entities for a consideration of ₹8,986 crore. "JSW Paints today (Friday) entered into definitive agreements to acquire up to 74.76% stake in Akzo Nobel India from Akzo Nobel NV and its affiliates, for a maximum consideration under the share purchase agreement of up to ₹8,986 crore," according to a statement from the JSW Group firm.

"The Show Cause Notice requires the company to show cause to why alleged GST Demand of ₹22,98,06,74,252/- for the period April 2018 to March 2023 should not be demanded from the company. The company believes that it has strong case on merit," the company said in an exchange filing.

The stock was trading 1% lower at ₹183.80 per unit on the NSE.

ICICI Bank said that the purchase will primarily be for maintaining the lender’s majority shareholding in the event of a grant of stock-based compensation by the firm.

"This new co-lending arrangement builds upon the already operational co-lending (formerly coorigination) digital platform established between Paisalo and SBI in 2021...Under this arrangement, SBI and Paisalo will jointly fund SME loans, enabling wider access to formal credit for India’s growing base of small businesses, especially in tier 2, tier 3 cities and rural markets," it said in an exchange filing.

The stock was trading 1.85% higher at ₹32 per share on the NSE.

The ₹27.28 crore IPO, with a price band of ₹44-₹47 per equity share, was a fresh issue of more than 58.05 lakh shares without an offer for sale component.