Muthoot Finance, Unichem Labs, Vodafone Idea Among Key Stocks in Focus Today
IDBI Bank Ltd shares dropped 3% while those of Muthoot Finance were down 0.8% after the latter announced that it would buy IDBI Bank’s asset management company business for Rs 215 crore.
Logo of Muthoot group
Indian stock markets started trading on a strong note on Monday amid positive global cues after the US and China made positive comments on the potential for a trade deal. At 10:30 am, the benchmark S&P BSE Sensex rose 218.67 points, or 0.54%, to 40,578.08, while the Nifty 50 index was up 72.60 points, or 0.61%, to 11,987.
Muthoot Finance, Unichem Labs, Vodafone Idea and Ashoka Buildcon were among the key stocks in news today. Read on to know more:
Muthoot Finance, IDBI Bank: IDBI Bank Ltd shares dropped 3% while those of Muthoot Finance were down 0.8% after the latter announced that it would buy IDBI Bank’s asset management company business for Rs 215 crore.
Unichem Labs: Unichem Laboratories Ltd shares surged 7% after the company got the US FDA approval for generic of Tenormin tablets.
Vodafone Idea: Vodafone Idea Ltd shares rallied 6.9% even as Crisil cut company’s NCD (non-convertible debenture) rating to BBB- with ‘negative’ watch. CARE Ratings also downgraded its rating on long-term bank facilities and NCD rating to CARE BBB-.
Ashoka Buildcon: Ashoka Buildcon Ltd shares surged 12% after the subsidiary bagged order from NHAI for project in Telangana worth Rs 1,000 crore.
Tata Motors, Vedanta, Yes Bank: Tata Motors Ltd and Vedanta Ltd shares were up 1% and 2%, respectively, while Yes Bank slipped 1% on news that the three companies will the exit the BSE Sensex index from 23 December.
Titan, UltraTech Cement, Nestle India: Titan Co. Ltd shares rose 1.7%, while those of UltraTech Cement Ltd and Nestle India Ltd inched up around 1% each on news that the three companies will be included in the BSE Sensex from 23 December.
Power Grid: Power Grid Corporation of India Ltd shares rose 0.8% after the company was declared a successful bidder in two intra-state transmission system projects of Uttar Pradesh under tariff-based competitive bidding.
NTPC: State-run power giant NTPC Ltd shares inched up 0.5% after a media report said that the company is likely to raise around Rs 10,000 crore through green bonds for acquisition of the government’s stake in THDC India Ltd and North Eastern Electric Power Corporation Ltd.
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