Several matter pinch shares of ING Groep N.V. (NYSE:ING) [Trend Analysis], as shares moving down -3.50% to $11.87 with a share volume of 5.02 Million. Dutch banking firm ING Group (ING) revealed that it has sold 46.7 million ordinary shares of India-based Kotak Mahindra Bank, and now owns 3.9 percent as compared to its previous stake of 6.4%. The shares were sold at a price of 782.32 Indian Rupees per share. Gross proceeds to ING from the offering amount to about 490 million euros.
ING stated its remaining stake in Kotak will be subject to a 90 day lock-up following settlement of the transaction which is predictable to occur on October 4. The firm noted that the transaction will not have a material impact on its profit and loss account, shareholders’ equity or capital ratios. ING obtained its stake in Kotak through the merger of ING Vysya Bank with Kotak Mahindra Bank, which was effective from April 1, 2015. The stock is going forward its 52-week low with 31.15% and moving down from its 52-week high price with -15.70%. The float short ratio was 0.05%, as compared to sentiment indicator; Short Ratio was 0.74.
Caterpillar Inc. (NYSE:CAT) [Trend Analysis] luring active investment momentum, shares an advance 1.02% to $87.47. At the U.S.-Africa Business Forum last week, Caterpillar Inc. (CAT) Chairman and CEO Doug Oberhelman and Egyptian President Abdel Fattah el-Sisi discussed the future of Egyptian rail, infrastructure and power generation. The firm affirmed commitment to Egypt’s Infrastructure Development.
“Meeting with President Sisi provided an impressive vision for the future of Egypt,” stated Oberhelman. “Infrastructure development is one of his top previousities, and we are exclusively positioned to advance these efforts as Caterpillar has been involved in some of the largest infrastructure projects in Egypt’s history. Egypt is on the move and Caterpillar is committed to being a central part of the exciting developments on the horizon.” The total volume of 10.61 Million shares held in the session was surprisingly higher than its average volume of 4208.00 shares. EPS anticipates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -40.50%, and looking additional price to next year’s EPS is 1.17%. While take a short look on price to sales ratio, that was 1.22 and price to earning ratio of 46.90 attracting passive investors.