Indian stock markets plunged in early trade on Monday on negative global cues as tension escalated between the US and Iran. At 10:40 am, the benchmark S&P BSE Sensex dropped 428.40 points, or 1.03%, to 41,036.21, while the Nifty 50 index was down 135.70 points, or 1.11%, to 12,090.95. HDFC, Titan, Bank of Baroda, Adani Ports and Future Retail were among the key stocks in news today. Read on to know more:
HDFC: Housing Development Finance Corp. Ltd (HDFC) shares dropped over 2% after the mortgage finance lender cut retail prime lending rate on housing loans by 5 bps w.e.f 6 January.
Titan: Titan Co. Ltd shares gained 2.8% after Q3 jewellery revenue growth stood at 11%, while retail growth was 15%. Fragrances business witnessed growth in excess of 20%.
Bank of Baroda: Bank of Baroda Ltd shares tumbled over 4% after the bank said it will consider fund raising via issue of capital debt instruments on January 8.
Adani Ports: Adani Ports and Special Economic Zone Ltd shares gained 1.4% after the company intended to acquire 75% stake of Krishnapatnam Port Company Ltd (KPCL) from its existing shareholders.
Future Retail: Future Retail Ltd shares fell 2.5% after the company approved allotment of equity shares to Future Coupons and raising of long-term funds.
PVR: PVR Ltd shares slipped 0.6% even as ICRA reaffirmed rating of non-convertible debenture (NCD) programme at ICRA AA-, while outlook was revised from ‘stable’ to ‘positive’.
Manpasand Beverages: Manpasand Beverages Ltd shares declined nearly 5% after the company appointed Dhirendra Singh as managing director w.e.f. 3 January for a period of 5 years.
Ceat: Ceat Ltd shares slipped 3% after CARE Ratings reaffirmed the credit ratings of long-term, short-term bank facilities and commercial papers of the company.
Ashoka Buildcon: Ashoka Buildcon Ltd shares fell 3.4% after one of its units executed concession agreement worth Rs 1,000 crore with the National Highways Authority of India (NHAI).