Indian stocks rebounded on Tuesday as global stocks turned positive on the back of no further escalations in West Asia tensions. At 10:32 am, the benchmark S&P BSE Sensex gained 418.42 points, or 1.03%, to 41,095.05, while the Nifty 50 index was up 120 points, or 1%, to 12,113. HDFC Bank, ITI, PI Industries and Tata Motors were among the key stocks in news today. Read on to know more:
HDFC Bank: HDFC Bank Ltd shares jumped 2.5% as advances in the December quarter jumped 20% to Rs 9.34 lakh crore, while deposits grew 25% to Rs 10.67 lakh crore compared with a year ago.
ITI: ITI Ltd shares surged 15.7% after the State-owned firm said its consolidated net profit has grown manifold to Rs 168.25 crore for the December quarter.
PI Industries: PI Industries Ltd shares dropped 3.2% after an accident on Monday in one section of a multi-product plants (MPP) at the company’s Jambusar fine chemicals manufacturing site in Gujarat reportedly resulted in two fatalities and left nine others injured.
Tata Motors: Tata Motors Ltd shares were up 2% even as total JLR UK sales in December 2019 fell 6.9% to 6,171 units versus 6,625 units a year ago.
Avenue Supermarts: Avenue Supermarts Ltd shares gained 2.7% after the company allotted listed commercial papers worth Rs 100 crore.
Bank of Maharashtra: Bank of Maharashtra Ltd shares rose 2.4% after the lender said it has reduced its marginal cost of funds-based lending rates (MCLR) by up to 45 basis points across various tenors, effective from 7 January.
Aster DM Healthcare: Aster DM Healthcare Ltd shares climbed 5.5% on reports that the board meeting on 9 January will consider buyback of shares.
NTPC: NTPC Ltd shares rose 1.6% after the company outbid the Adani Group for the Avantha Group’s 600 mw Jhabua power plant in Madhya Pradesh.