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1-min read

Allcargo Logistics, DHFL, Sterlite Among Key Stocks in Focus Today

Allcargo Logistics Ltd shares advanced 4.3% as the company is in final round of talks to pick up 14.38% stake in express logistics company Gati.

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Updated:September 26, 2019, 12:34 PM IST
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Allcargo Logistics, DHFL, Sterlite Among Key Stocks in Focus Today
File photo of DHFL logo (Image : Reuters).

Indian stock markets bounced back on Thursday after taking a hit in the previous session. At 11:02 am, the S&P benchmark Sensex rose 421 points, or 1.09%, to 39,014.55, while the Nifty 50 index climbed 131 points, or 1.15%, to 11,571.25.

Allcargo Logistics, Gati: Allcargo Logistics Ltd shares advanced 4.3% as the company is in final round of talks to pick up 14.38% stake in express logistics company Gati. Gati Ltd shares, meanwhile, were locked in an upper circuit of 5%.

M&M: Mahindra and Mahindra Ltd (M&M) shares rose 2.5% on news that the company is likely to sign a deal with Ford Motor next week to form a joint venture in India, as the latter ends most of its independent operations in the country.

DHFL: Dewan Housing Finance Corp Ltd (DHFL) shares slumped nearly 6% after the company defaulted in interest and principal payment on nin-convertible debentures (NCDs) due on September 20.

Sterlite Technologies: Sterlite Technologies Ltd shares jumped 4.3% after a wholly-owned subsidiary of the company, Sterlite Global Venture (Mauritius), entered into definitive agreements to acquire a 100% stake in Europe’s Impact Data Solutions Group.

CG Power: CG Power and Industrial Solutions Ltd shares gained as much as 5% after the company appointed Ashish Kumar Guha as the chairman

Yes Bank: Yes Bank Ltd shares dropped as much as 5.5% even as the bank clarified that it is waiting for the Reserve Bank of India’s approval to increase its authorised share capital before a planned share sale.

Cipla: Cipla Ltd shares slipped near;y 1% even as the company launched Daptomycin for Injection, AP-rated generic equivalent of Cubicin for Injection, in the US.

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