Indian markets were trading flat with a negative bias in volatile trade on Monday amid negative Asian cues.
At 10:30 am, the benchmark S&P BSE Sensex was down 61.64 points, or 0.15%, to 40,262, while the Nifty 50 index slipped 25.45 points, or 0.21%, to 11,882.70. Ashok Leyland, Britannia Industries, Coal India, Infosys and Yes Bank were among the key stocks in news today. Read on to know more:
Ashok Leyland: Ashok Leyland Ltd shares dived as much as 7.3% after the company said net profit fell 92.6% to Rs 38.9 crore in the September quarter versus Rs 527.7 crore a year ago.
Britannia Industries, Coal India: Britannia Industries Ltd and Coal India Ltd shares were trading flat with a positive bias ahead of the earnings announcement for the second quarter ended September (Q2). Other major companies to announce Q2 results today included Hindalco, Aban Offshore, Adani Ports, India Cements, Bombay Dyeing, Motherson Sumi Systems etc.
Infosys: Infosys Ltd shares slipped 1.4% on news that the company is talking to law firms JSA Law and Khaitan and Co with a view to appointing one or both to strengthen the investigation into allegations by whistleblowers against top company executives.
Yes Bank: Yes Bank Ltd shares jumped 4.3% even as news emerged that the bank has lent over Rs 2,000 crore to several companies linked to Indiabulls Group that either have negative net worth or an average equity capital of Rs 1 lakh, according to an affidavit filed in the Delhi High Court by Citizens Whistle Blower Forum.
IDBI Bank: IDBI Bank Ltd shares jumped over 4% as its Q2 net loss stood at Rs 3,458.8 crore compared with a loss of Rs 3,602.5 a year ago, while net interest income grew 25.4% to Rs 1,631.4 crore versus Rs 1,301 crore.
Maruti Suzuki: Maruti Suzuki India Ltd inched down nearly 1% as total October production fell 20.7% to 119,000 units compared with a year ago.
Nestle India: Nestle India Ltd shares fell 1.5% even as net profit jumped 33.5% to Rs 595 crore in the September quarter compared with a year ago.