Coffee Day, Strides Pharma, Dr Reddy’s, Hero MotoCorp Key Stocks in Focus Today
Shares of Coffee Day Enterprises Ltd, the owner of India’s largest coffee chain Cafe Coffee Day (CCD), plunged 20% after the company’s founder VG Siddhartha went missing on Monday evening.
Indian stock markets were trading mildly positive in morning trade on Tuesday, i.e. 30 July. At 11:01 am, the S&P BSE Sensex rose 102.37 points, or 0.27%, to 37,788.74, while the Nifty 50 index was up 28.45 points, or 0.25%, to 11,217.65. Coffee Day Enterprises, Strides Pharma, Hero MotoCorp, Axis Bank, Tech Mahindra, Dr. Reddy’s Laboratories, DLF and Vodafone Idea were among the key stocks in focus today:
Coffee Day Enterprises: Shares of Coffee Day Enterprises Ltd, the owner of India’s largest coffee chain Cafe Coffee Day (CCD), plunged 20% after the company’s founder VG Siddhartha went missing on Monday evening.
Strides Pharma: Strides Pharma Science Ltd shares surged nearly 10% after the company announced its entry into the Chinese market through a joint venture between its Singapore-based step down subsidiary Strides Pharma Global Pte (SPG) and Sun Moral International (HK) Ltd, a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd (Sihuan), one of China’s leading pharmaceutical companies.
Earnings: Companies like Hero MotoCorp Ltd, Tech Mahindra Ltd and Axis Bank Ltd will announce their earnings later in the day. Hero MotoCorp shares lost over 2.5%, Axis Bank was down 0.2% and Tech Mahindra fell 0.5% ahead of their results announcement.
Vodafone Idea: Shares of Vodafone Idea extended losses for a second day, falling over 3%. The stock had plunged 26% in the previous trading session after it posted a consolidated net loss of Rs 4,873.90 crore for the quarter ended June.
Dr Reddy’s: Dr Reddy’s Laboratories Ltd shares gained 1.5% after the pharma company’s net profit jumped 45.4% to Rs 663 crore in the June quarter compared with Rs 456.1 crore a year ago.
DLF: DLF Ltd shares rose 1.4% after the company’s net profit jumped to Rs 413 crore in the June quarter versus Rs 172.4 crore a year ago on a one-time gain of Rs 296.5 crore.
Coal India: Coal India Ltd shares inched up 0.6% after the President of India acting through the ministry of coal sold 1.7% equity shares of the company for Rs 2,247 crore.
Zee Entertainment: Zee Entertainment Enterprises Ltd shares rose 1.3% after a news report said that a consortium led by US cable major Comcast and comprising Atairos, Blackstone and James Murdoch’s Lupa Systems submitted a binding offer late on Monday to buy out the company.
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