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.