Market Live: Sensex gains 1,300 pts, Nifty above 11,600; L&T up 9%, IT stocks tank – Moneycontrol.com, Moneycontrol.com

Axis Bank gains 5% after raising Rs 12, 000 crore

Axis Bank gained over 5 percent intraday on September 23, coming close to a two-month high, after it raised Rs 12, 500 crore in qualified institutional placement from foreign and local investors.

Axis Bank launched the institutional share sale on September 19, setting a floor price of Rs 661. 50 per share. The stock has gained over 11 percent in the last three days.

The stock witnessed spurt in volume by more than 2. 29 times. It was trading with volumes of 845, 620 shares, compared to its five-day average of 497, 966 shares, an increase of 69. 81 percent.

Thomas Cook (India) clarifies stance, not impacted by trouble in Thomas Cook UK

British tour operator Thomas Cook has collapsed and this is making the travel industry nervous even in Asia. But, there is a company that is having a different sort of trouble due to Thomas Cook UK’s fall. It is its namesake company in India – Thomas Cook (India) – that is currently putting all its effort to clarify that the two companies are not related.

Buzzing: Shares of Vikas Ecotech added over 4 percent on September 23 after company received Rs 8. 37 crore insurance claim filed with Oriental Insurance Company ou of total insurance claim of Rs 16. 31 crore towards the losses incurred on account of fire in its Rajasthan factory.

Punjab & Sind Bank reported a borrowal fraud of bank’s exposure in Era Infra Engineering involving a total amount of Rs 30. 02 crore.

Alembic Pharmaceuticals up 7%: Aleor Dermaceuticals, a 60: 40 joint venture between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies, has completed United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with one observation.

Buzzing:Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) surged over 8 percent on BSE on September 23 amid reports that t he committee of creditors has backed the resolution plan offered by the company to buy the debt-laden Dighi Port under the bankruptcy and insolvency law.

AP Cargo implementates Ramco Logistics Software: Philippines’ leading domestic provider of express logistics for air cargo and other goods, AP Cargo Logistic Network Corp announced the golive of a powerful cloud-based Logistics ERP suite enabled by Ramco Systems, to improve tracking, planning and management of its air freight operations nationally in more than (branches worldwide.)