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By Malvika Gurung
Investing.com — Punjab National Bank (NS:)
Shares of the public lender plunged 14.46%, led by a weak technical set-up on daily charts.
Public sector banking stocks slumped on Thursday, with the sectoral index tanking the most to 8.3%. ended 5.8% lower.
Rain Industries (NS:)
Shares of the chemicals manufacturer tanked 13.4% on Thursday amid aggravating tensions between Russia and Ukraine, like Moscow, on Thursday announced military operations in Eastern Ukraine, ringing bells of an impending Russian invasion of Ukraine.
The mid-cap chemicals stock has a distillation capacity in Russia, which led to a further fall in the company’s shares.
Indus Towers (NS:)
The leading mobile tower installation company was the biggest loser on the broadest market index 500. Shares of the company ended 18.14% lower at Rs 206 apiece.
Besides the external headwinds, the telecom infrastructure provider slumped after the British telecom player Vodafone (LON:) Plc announced to offload its stake in the company.
Vodafone announced that it would sell a 2.4% stake in Indus Towers to telco Bharti Airtel (NS:) through a block deal on Thursday.
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