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Infosys, DMart, Yes Bank, DHFL, Allahabad Bank Key Stocks in News Today

Representative image

Representative image

Infosys, DHFL, DMart, Allahabad Bank, Yes Bank were among the key stocks in focus today.

Indian stock markets pared early morning gains to trade flat on Monday amid weak Asian stocks as China’s economic growth slowed in the second quarter. At 10:50 am, the S&P BSE Sensex was trading down 7.25 points, or 0.02%, to 38,728.98, while the Nifty 50 index was down 16.20 points, or 0.14%, to 11,536.30. Infosys, DHFL, DMart, Allahabad Bank, Yes Bank were among the key stocks in focus today, 15 July. Read on to know more:

Infosys: Infosys Ltd shares jumped nearly 6% in early trade after the company’s Q1 earnings beat analyst expectations on all major fronts – revenue, profit and margins. Net profit rose to Rs 3,802 crore for the June quarter, up 5.3% on a year-on-year basis, but down 6.8% compared with the previous quarter.

DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares crashed 15% after the housing finance firm said the developments in last few quarters have threatened its ability to continue as a going concern. DHFL posted its biggest ever quarterly loss of Rs 2,224 crore for the June quarter.

Yes Bank: Yes Bank Ltd shares gained as much as 5.4% ahead of the board meet on 17 July to consider and approve the bank’s financial results for June quarter.

Allahabad Bank: Allahabad Bank shares plunged over 14% after the bank reported a fraud of Rs 1,775 crore by Bhushan Power and Steel to the Reserve Bank of India.

DMart: Shares of Avenue Supermarts Ltd, which runs the DMart chain of stores in India, climbed 6.5% after the company reported its sharpest rise in operating and net profit margins in five quarters. Consolidated profit rose 32% year-on-year to Rs 323.09 crore in the June quarter, while revenue jumped 27% to Rs 5,814.6 crore.

Sun Pharma: Sun Pharmaceutical Industries Ltd shares gained over 4% after Morgan Stanley double upgraded Sun Pharma stock, according to a media report.

IndusInd Bank: IndusInd Bank Ltd shares rose 1.4% after the private sector lender on Friday reported a 38.3% jump in net profit to Rs 1,432.50 crore for the June quarter on account of lower-than-expected provisioning and growth in core interest income.

Indigo: Shares of InterGlobe Aviation Ltd, which operates India’a largest airline IndiGo, dropped as much as 4.6% after it confirmed receiving four show cause notices from Directorate General of Civil Aviation to flight operations and safety departments. The stock, however, trimmed losses later to trade flat.