Indian stocks were trading in the positive zone on Thursday, on the back of strong buying in key index components. At 10:16 am, the benchmark S&P BSE Sensex rose 85 points, or 0.22%, to 39,143.74, while the Nifty 50 index inched up 15.75 points, or 0.14%, to 11,619.85. HCL Technologies, Larsen and Toubro, ITC, Maruti Suzuki, MTNL and Indian Bank were among the key stocks in news today. Read on to know more:
HCL Tech: HCL Technologies Ltd shares jumped 5.8% as net profit rose 19.4% to Rs 2,651 crore in the September quarter as compared to the previous, while rupee revenue rose 6.7% to Rs 17,528 crore.
L&T: Larsen and Toubro Ltd (L&T) shares rose 2.5% as net profit jumped 13.3% to Rs 2,527 crore in the September quarter compared with a year ago, while revenue rose to Rs 35,328.4 crore.
ITC, Maruti Suzuki: Shares of ITC Ltd and Maruti Suzuki India Ltd rose up to 1% ahead of their September quarter earnings announcement later in the day. Other major companies to announce results today include Colgate Palmolive, Raymond, PNB Housing Finance, IDFC First, Cummins, Bandhan Bank, Shriram Transport, etc.
MTNL: Mahanagar Telephone Nigam Ltd (MTNL) shares gained 4.3% after the Cabinet approved the proposed merger of the company with Bharat Sanchar Nigam Ltd.
Indian Bank: Indian Bank shares declined 4.5% even as the lender reported a 139% year-on-year rise in its September quarter profit at Rs 358.6 crore.
Hero MotoCorp: Hero MotoCorp Ltd shares slipped 1.6% as net profit fell 10.4% to Rs 874.8 crore in the September quarter compared with a year ago, while revenue dropped 16.7% to Rs 7,570.7 crore.
SpiceJet: SpiceJet Ltd shares inched up nearly 1% as it announced plans to launch a new airline with the Ras Al Khaimah International Airport as its base and set up its first overseas hub in the UAE emirate.