Piramal exits Shriram, HMA Agro crawls, SpiceJet settles debt: Top Stories

Here are the top stories this afternoon

Shriram Finance soars 10% despite block deal, Piramal Enterprises likely seller

Shares of Shriram Finance surged 10 percent in early trade on June 21 and hit a 52-week high of Rs 1,715.60 despite a block deal on the exchanges.

Around 3.2 crore shares, or a 8.3 percent stake, in the company changed hands on the exchanges at an average price of Rs 1,545, a one percent discount to the previous day's closing price of Rs 1,559.65 on the National Stock Exchange. Read here

HMA Agro Industries IPO subscribed 39% on bidding day 2

The public issue of HMA Agro Industries has not seen a great response from investors yet, despite better market conditions. The offer was subscribed 39 percent on June 21, the second day of bidding.

Investors have put in bids for 23.34 lakh equity shares against an IPO size of 60.54 lakh shares, as per the data available with the exchanges. Read here

Five midcap gems with the highest return potential

The Nifty Midcap 100 Index recently reached a record high and surpassed the 35,600 mark. Over the past three months, the index has risen almost 20 percent compared with a 10 percent increase in the Nifty.

Moneycontrol compiled a list of five midcap stocks with the maximum return potential, based on coverage by at least 10 analysts. Take a look 

SpiceJet signs settlement pact with Nordic Aviation for all past liabilities

SpiceJet has entered into a settlement agreement with Nordic Aviation Capital (NAC), the airline announced via a release on June 21. Nordic Aviation has been a major lessor for the airline's Q400 aircraft. Read here

Banking sector stocks most overrated in India, says Mark Mobius

Mark Mobius, founder of Mobius Capital Partners LLP that primarily invests in emerging market economies, has said India's banking sector is grossly overrated, while smaller companies from a number of sectors are underrated.

“Probably the most overrated are the banks... and the most underrated are the medium-sized companies in a number of sectors,” the emerging market investment guru said at an event on June 1. He was asked which was the most overrated and underrated sector in India? Read heere