Stock market update:...from Tiyas

Stock market update: Stocks that hit 52-week highs on NSE in today's trade. Shivalik Bimetal, Career Point, Network People Services Technologies Ltd., W S Industries and DRC Systems India Ltd., hit their fresh 52-week highs during the day.

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Banking rebound remains fragile as regulators review response to failures. Investor confidence in the banking sector remains fragile as the ECB highlights the need for greater regulatory scrutiny following recent volatility, which saw European banks weaken slightly. Bank stocks in the US, however, rose slightly, overall financial stability remaining on a solid footing despite event-triggered banking fears.

Tiyas

Embassy REIT Acquires Embassy Business Hub in Bengaluru for Rs 334.8 crore. Embassy Office Parks REIT has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bengaluru, for a total enterprise value of Rs 334.8 crore. Embassy REIT plans to fund the acquisition through debt at an 8.1% interest cost per annum, for which it has secured binding commitments from leading financial institutions.

Tiyas

Saudi National Bank chair resigns in wake of Credit Suisse loss. Ammar Al Khudairy said on March 15 that the biggest Saudi bank by assets could not buy more shares in Credit Suisse on regulatory grounds.

Tiyas