New Delhi: Cummins, Mahindra Finance, Bajaj Finserv, Infosys among key stocks in focus today.
Indian stocks were trading in the green zone on Wednesday on the back of positive Asian cues. At 10:27 am, the benchmark S&P BSE Sensex was up 229.90 points, or 0.56%, to 41,196.76, while the Nifty 50 index rose 79.65 points, or 0.66%, to 12,135.45. Cummins India, Mahindra Finance, Bajaj Finserv, Bajaj Finance, Infosys and Allcargo Logistics were among the key stocks in news today.
Read on to know more:
Cummins India: Cummins India Ltd shares surged nearly 11% after the company’s Q3 net profit rose 1.2% to Rs 199.9 crore compared with a year ago.
Mahindra Finance: Mahindra and Mahindra Financial Services Ltd shares climbed over 8% after the company’s Q3 net profit jumped 14.6% to Rs 365.3 crore compared with a year ago.
Bajaj Finserv, Bajaj Finance: Shares of both Bajaj Finserv Ltd and Bajaj Finance Ltd rose 2% ahead of the announcement of the third quarter (Q3) earnings later in the day. Other major companies to announce results today include Escorts, Godrej Consumer Products, Jubilant FoodWorks, Tata Power and NIIT Technologies.
Infosys: Infosys Ltd shares jumped nearly 2% after the company completed the divestment of its shares in Unsilo for a total consideration of approximately $800,000.
Allcargo Logistics, Gati: Allcargo Logistics Ltd shares were up 2% after the company announced that it has bought an additional 91 lakh shares, or 7.5% stake, in Gati Ltd (down 1.5%) through two different transactions, taking up its total holding in the company to 20.8%.
JK Lakshmi Cement: JK Lakshmi Cement Ltd shares erased initial gains to trade falt with a negative bias after the company’s standalone net profit stood at Rs 49.2 crore in the December quarter versus Rs 14.7 crore a year ago.
HFCL: HFCL Ltd shares gained 1.8% after the company said it will buy a 47.9% stake in Bigcat Wireless for Rs 22.5 crore.
Bajaj Electricals: Bajaj Electricals Ltd shares gained 2% as the board meeting is scheduled for 31 January to consider the rights issue.
Cholamandalam Investment: Cholamandalam Investment and Finance Co. Ltd shares jumped 2.4% on news that the board meeting will be held on 31 January to consider the issue price for the qualified institutional placement (QIP) offer.