Indian stocks recovered slightly on Monday after witnessing major selloff in the previous session due to a lacklustre Union Budget 2020. At 10:43 am, the benchmark BSE Sensex rose 162.12 points, or 0.41%, to 39,897.65, while the Nifty 50 index was up 56.20 points, or 0.48%, to 11,723. Maruti Suzuki, Tata Motors, Hero MotoCorp, Coal India, M&M and PVR were among the key stocks in news today. Read on to know more:
Maruti Suzuki: Maruti Suzuki India Ltd shares gained nearly 2% after the company reported a 1.6% year-on-year increase in sales to 154,123 units in January.
Tata Motors: Tata Motors Ltd shares erased initial losses to jump 1.6% after the company reported a 17.7% decline in total sales at 47,862 units in January.
Hero MotoCorp: Hero MotoCorp Ltd shares declined 2.7% after the company said it sold 501,622 units of two-wheelers in the month of January 2020 compared with 582,660 units sold in the same month of 2019.
Coal India: Coal India Ltd shares were up 3.2% after January coal production grew 10.3% to 63.11 million tonnes against 57.21 mt a year ago.
M&M: Mahindra and Mahindra Ltd (M&M) shares rose 1.7% as the company reported a 6% decline in total sales to 52,546 units in January compared with a year ago.
PVR: PVR Ltd shares rose 2.4% after Crisil upgraded rating on the non-convertible debentures and long-term bank facilities of the company to CRISIL AA/Stable from CRISIL AA-/Stable.
Tata Chemicals, Ujjivan Financial Services: Tata Chemicals Ltd shares fell 1.7% while those of Ujjivan Financial Services Ltd were up 1.8% ahead of the announcement of quarterly earnings later in the day. Other major companies to announce Q3 earnings today include IG Petrochemicals, HUDCO, Dr Lal Pathlabs, Sutlej Textiles, Borosil Glass, Sharda Motors, among others.
Sobha: Sobha Ltd shares advanced nearly 4% after the company’s net profit went up 4.9% to Rs 73.2 crore compared with a year ago.
Moil: Moil Ltd shares gained 3.3% after the company fixed/revised prices of different grades of manganese ore and other products effective from 1 February 2020.