Sensex and Nifty Rise; HDFC Life, Tata Motors & DLF Among Stocks in News Today
Tata Motors shares rise 1.5% to Rs210.30 despite the company reporting a 26% drop in its passenger vehicle sales in the domestic market to 12,694 units in April compared with 17,235 units in April 2018
Image used for representational purpose. (Image: Reuters)
Key stock market indices are trading higher on Friday in early trade. At 10:46am, the S&P BSE Sensex is trading up 161.33 points, or 0.41%, at 39,142.76 , while the Nifty 50 index is up 32.25 points, or 0.28%, to 11,757. The market breadth is positive. On BSE, 589 shares rose and 315 shares fell. A total of 42 shares were unchanged. Here are the key stocks that are moving today:
— HDFC Life Insurance Co. Ltd stock tumbled as much as 3.9% after Standard Life (Mauritius Holdings) said it will offload 1.78% stake in the company for Rs1,404 crore beginning Friday. The stock has trimmed losses and is currently trading 2.1% lower at Rs408.25.
— Tata Motors shares rise 1.5% to Rs210.30 despite the company reporting a 26% drop in its passenger vehicle sales in the domestic market to 12,694 units in April compared with 17,235 units in April 2018.
— Hindustan Unilever Ltd (HUL) shares are trading 1% lower at Rs1,706.30 ahead of the company’s earnings announcement today
— DLF shares climb 2.9% to Rs176.75 after the real estate developer transferred one of its property in Noida, Mall of India, to one of its subsidiaries, Paliwal Real Estate, for Rs2,950 crore as part of efforts to settle dues of its joint venture firm with GIC.
— Tata Power shares are trading marginally higher at Rs66.65 after jumping 2% earlier. The company said its consolidated net profit fell 92% to Rs107.32 crore for the quarter ended March due to an exceptional adjustment in the previous year. Tata Power had made provision for impairment of investment in Mundra and Georgia businesses in the fourth quarter of 2017-18.
— Jet Airways shares extend losses, falling nearly 4% to Rs129. A group of Jet Airways employees, who had earlier offered to take over the distressed airline, met SBI Caps officials on Thursday to discuss the proposal.
— Bombay Dyeing and Manufacturing Co Ltd shares climb as much as 12% to Rs135 after the company reported a standalone net profit of Rs1,253.33 crore for the fourth quarter ended March led by its real estate activities. The company had posted a net profit of Rs10.95 crore in the year-ago quarter.
— L&T Infotech shares drop 2.4% to Rs1,680 after the company posted a 30.8% growth in its consolidated net profit at Rs378.50 crore as against Rs289.40 crore in the same quarter last year. Dollar revenue was up 2% at $353.8 million during the quarter versus $346.9 million a year ago.
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