Indian stock markets started the week on a negative note on 29 July. The S&P BSE Sensex was down 71.64 points, or 0.19%, to 37,811.15 at 11:24 am, while the Nifty 50 index fell 50.75 points, or 0.45%, to 11,233.55. Among the key stocks in focus were Indiabulls Housing Finance, ICICI Bank, Vodafone Idea, Vedanta, Manpasand Beverages, Dr Reddy’s and Granules India among others. Read on to know more:
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares dived 10% after BJP leader Subramanian Swamy sent a letter to PM Narendra Modi, accusing the Indiabulls group of Rs 1 lakh crore worth fraud. The company has, however, denied any wrongdoing.
Vodafone Idea: Vodafone Idea Ltd shares cracked over 25% after the telecom player reported net loss of Rs 4,873.9 crore in the June quarter against loss of Rs 4,881.9 crore in the preceding March quarter.
ICICI Bank: ICICI Bank Ltd shares jumped nearly 5% after the lender on Saturday reported a standalone net profit of Rs 1,908 crore in the first quarter ended June against a loss of Rs 120 crore in the same period last year.
Vedanta: Vedanta Ltd shares tumbled 5% after the company’s consolidated net profit fell 11.9% to Rs 1,351 crore in the June quarter versus Rs 1,533 crore a year ago, while revenue fell 3.7% to Rs 21,374 crore from Rs 22,206 crore.
Manpasand Beverages: Manpasand Beverages Ltd stock has jumped 5% after the company’s arrested officials in the GST fraud case were released on bail by the Gujarat High Court.
Dr Reddy’s: Dr.Reddy's Laboratories Ltd fell 1.8% ahead of the company’s earnings announcement later in the day.
Cadila Healthcare: Cadila Healthcare Ltd shares lost 2.8% despite the company saying that its manufacturing plant at Ankleshwar in Gujarat was cleared by the US health regulator after inspection with no observations.
Granules India: Granules India shares gained as much as 7.3%. The company’s Bonthapally facility has received one 483 observation. The company said it will respond to USFDA observation within stipulated time.
NHPC: NHPC Ltd shares inched up 0.7% after the National Company Law Tribunal (NCLT) approved the state-run company’s Rs 907 crore bid for Lanco Teesta Hydro Power Ltd.