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HDFC Bank, RIL, Yes Bank, IndiGo and Kotak Among Key Stocks in Focus Today

Representative Image. (Photo Credit: Getty Images)

Representative Image. (Photo Credit: Getty Images)

HDFC Bank Ltd shares fell nearly 4% after the lender’s June quarter earnings showed slight strains on asset quality, even as profit came in line with analyst expectations.

Indian stock markets were trading near day’s low in the afternoon session on Monday, i.e. 22 July. At 1:46 pm, the S&P BSE Sensex was down 371.05 points, or 0.97%, to 37,965.96, while the Nifty 50 index fell 87.95 points, or 0.77%, to 11,331.30. HDFC Bank, Reliance Industries Ltd (RIL), Yes Bank, IndiGo and Indiabull Real Estate were among the key stocks in focus today:

HDFC Bank: HDFC Bank Ltd shares fell nearly 4% after the lender’s June quarter earnings showed slight strains on asset quality, even as profit came in line with analyst expectations. The bank’s gross as well as net non-performing assets (NPAs) increased by 4 basis points each to 1.4% and 0.43%, respectively, in the June quarter compared with the previous quarter.

Yes Bank: Yes Bank shares gained over 9% amid reports that Dewan Housing Finance Corp. Ltd (DHFL) is likely to announce a deal with special situations investor AION Capital for a majority stake in the housing finance company. Yes Bank is one of the key lenders to DHFL.

RIL: Reliance Industries Ltd (RIL) shares jumped as much as 1.8% after the oil-to-telecom major reported a 6.8% year-on-year jump in consolidated net profit to Rs 10,104 crore for the first quarter.

IndiGo: Shares of InterGlobe Aviation Ltd, operator India’s largest airline IndiGo, rose as much as 4.6% after profit surged to Rs 1,203 crore versus Rs 27.8 crore a year ago, while revenue jumped 44.7% to Rs 9,420.1 crore versus Rs 6,512 crore.

Indiabulls Real Estate: Indiabulls Real Estate Ltd shares plunged over 9% after a media report said that real estate major Embassy Property Development is expected to mop up an additional 14% stake in Indiabulls Real Estate within a week.

Kotak Mahindra Bank: Kotak Mahindra Bank Ltd shares dropped 3.3% ahead of its quarterly results announcement later in the day.

RBL Bank: RBL Bank Ltd shares dropped more than 6% in fourth day of declines after the bank management on Friday said that it expected some challenges on its asset quality front in the near term. The stock has lost 20% in the last four trading sessions.

Dr Reddy’s Labs: Dr.Reddy's Laboratories Ltd shares rose over 1% after the pharmaceutical company said it has completed sale of its US and select territory rights for two neurology products to Upsher-Smith Laboratories.

Amara Raja Batteries: Amara Raja Batteries Ltd shares jumped 3.5% after its standalone profit rose 24.7% to Rs 140.9 crore versus Rs 113 crore a year ago, while revenue inched up 2% to Rs 1,814.9 crore versus Rs 1,778.7 crore.