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1-min read

Coffee Day, Mindtree and Axis Bank Among Key Stocks in News Today

MindTree Ltd shares fell 1.6% on news that former Cognizant executive Debashis Chatterjee will take over as the company’s new chief executive officer (CEO) on 1 August.

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Updated:July 31, 2019, 10:14 AM IST
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Coffee Day, Mindtree and Axis Bank Among Key Stocks in News Today
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Indian stock markets opened in the red on Wednesday, i.e. 31 July, on weak global cues. At 9:48 am, the S&P BSE Sensex fell 94.36 points, or 0.25% to 37,302.88, while the Nifty 50 index was down 17.25 points, or 0.16%, to 11,068.15. Coffee Day Enterprises, Axis Bank, Hero MotoCorp, Tech Mahindra, Gujarat Gas, Dish TV and Mindtree were among the key stocks in focus today. Read on to know more:

Coffee Day Enterprises: Coffee Day Enterprises Ltd shares hit the lower circuit again for a second day, falling 20%, after founder VG Siddhartha’s body was found near Karnataka’s Netravathi river early morning.

Axis Bank: Axis Bank Ltd shares slumped 7% after profit jumped by a lower-than-expected 95% to Rs 1,370 crore in the June quarter versus Rs 701 crore a year ago, while net interest income (NII) rose 13% to Rs 5,843.6 crore versus Rs 5,167 crore .

Hero MotoCorp: Hero MotoCorp Ltd jumped 2.4% after the company’s profit rose 38.3% to Rs 1,256.7 crore in the June quarter versus Rs 909.2 crore a year ago, while revenue fell 8.8% to Rs 8,030.3 crore versus Rs 8,809.8 crore.

Tech Mahindra: Tech Mahindra Ltd shares dropped nearly 5% after profit fell 15.3% to Rs 959 crore in the June quarter versus Rs 1,132.5 crore a year ago, while revenue dipped 2.7% to Rs 8,653 crore versus Rs 8,892.3 crore.

Gujarat Gas: Gujarat Gas Ltd shares surged nearly 12% after consolidated profit rose 100% to Rs 234 crore versus Rs 116.6 crore in the previous quarter, while revenue jumped 36% to Rs 2,670.8 crore versus Rs 1,963.3 crore.

Dish TV: Dish TV India Ltd shares gained 4.4% after the company posted consolidated loss of Rs 32 crore in the June quarter against profit of Rs 37.9 crore a year ago, while revenue fell 44.1% to Rs 926.3 crore versus Rs 1,655.6 crore.

MindTree: MindTree Ltd shares fell 1.6% on news that former Cognizant executive Debashis Chatterjee will take over as the company’s new chief executive officer (CEO) on 1 August.

DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares dropped 2.6% after a news report said that DHFL has submitted its final resolution plan to CoC (committee of creditors) last evening. CoC will take final call on the same in the first week of August.

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| Edited by: Ahona Sengupta
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