Indian stock markets started the week on a strong note on Monday with heavy buying seen in metal stocks and a stellar debut by IRCTC shares.
At 11:09 am, the benchmark S&P BSE Sensex was up 235.76 points, or 0.62%, to 38,362.84, while the Nifty 50 rose 72.55 points, or 0.64%, to 11,377.60. Besides IRCTC, other stocks in focus today were DLF, Infosys, DHFL, D-Mart and Reliance Capital. Read on to know more:
IRCTC: The Indian Railway Catering and Tourism Corporation (IRCTC) shares made a grand debut on bourses, rallying 118% over the issue price to hit a high of Rs 698.
DLF: DLF Ltd shares climbed 6.5% after the real estate company sold 376 luxury ready-to-move-in flats worth Rs 700 crore in Gurugram housing project on the first day of launch itself amid slowdown concerns.
Infosys: Infosys Ltd shares dropped over 4% after the IT major’s net profit rose 5.8% to Rs 4,019 crore in the September quarter compared with the previous quarter, while rupee revenue inched up 3.8% to Rs 22,629 crore.
DHFL: Dewan Housing Finance Corp. Ltd shares jumped 5% to lock in upper circuit on a media report that said the company has signed a non-binding term sheet with Oaktree Capital to sell its entire Rs 35,000-crore wholesale book.
D-Mart: Shares of Avenue Supermarts Ltd, owner of D-Mart chain of supermarkets, fell 2.2% even as net profit in the September quarter climbed 47.5% to Rs 322.63 crore compared with the year-ago quarter, while revenue rose 22.3% to Rs 5,998.90.
Reliance Capital: Reliance Capital Ltd shares declined 6.6% after the company approved management buyout of 100% stake in Reliance Securities.
Jain Irrigation: Jain Irrigation Systems Ltd shares plunged 11% after CARE Ratings assigned CARE D rating to the long-term bank facilities of the company.
Torrent Pharma: Torrent Pharmaceuticals Ltd shares rose 3.3% even as US FDA said that the company is recalling 73,896 bottles of hypertension treatment tablets from the US and Puerto Rico on account of deviations from current good manufacturing norms.