JSPL, Bajaj Finance top midcap gainers; Sensex, Nifty volatile

Epic Update Jindal Steel
Equity benchmarks remained rangebound in noon trade while the broader markets continued outperformance.

The 30-share BSE Sensex was up 31.63 points at 28126.97 and the 50-share NSE Nifty rose 1.95 points to 8637.60. The BSE Midcap and Smallcap indices gained 0.4-0.6 percent as about 1248 shares advanced against 1156 declining shares on the exchange.

Jindal Steel and Power was the biggest midcap gainer, up more than 13 percent followed by Bajaj Finance with 4 percent rally post earnings.

Bajaj Finance’s first quarter (April-June) profit increased sharply by 54 percent to Rs 424 crore on strong net interest income despite higher provisions. The board of directors today approved issue of one fully paid bonus equity share for one share held and sub-division of equity shares of face value of Rs 10 each into Rs 2 each, subject to approval of the shareholders.

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