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Sensex Drops 500 points; R-Infra, PC Jewellers, Jet Airways Key Stocks to Watch

Image for Representation.

Image for Representation.

All the sectoral indices traded in the red, with the BSE Metal and BSE Energy being top losers, down 3.2% and 2.5%, respectively.

The benchmark stock market indices witnessed steep decline on Monday. The S&P BSE Sensex dropped over 500 points, or 1.3%, to trade at 38,948.24 at 3.15pm, while the Nifty 50 was trading lower by 156.50 points, or 1.3%, at 11,666.10.

All the sectoral indices were trading in the red, with the BSE Metal and BSE Energy being top losers, down 3.2% and 2.5%, respectively.

Here are the key stocks that traders need to watch today:

Jet Airways: Shares of Jet Airways tumbled 19% in intraday trade, marking their eighth day of decline, after the Prime Minister’s Office asked the revenue department to assess tax dues on account of the airline, according to a media report.

Reliance Infrastructure: Shares of Reliance Infrastructure plunged 14% intraday after the Anil Ambani-led company reported a consolidated net loss of Rs 3,301 crore in the March quarter, its biggest ever loss.

PC Jewellers: Shares of PC Jewellers sank 19% as Crisil downgraded ratings on the company’s bank loan facilities. The jewellery maker’s long-term rating has been cut to 'BB+/Negative' from 'BBB+/Negative', while the short-term rating has been slashed to 'A4+' from 'A2'.

Shriram Transport: Shriram Transport Finance shares fell as much as 7.8% after Piramal Enterprises sold its entire stake in the company. A media report said that about 10% equity worth Rs 2,305 crore exchanged hands on NSE at around Rs 1,000-1,023 per share.

Reliance Capital: Reliance Capital shares cracked 10% despite the company selling its 10.75% stake in Reliance Nippon Life Asset Management Ltd (RNAM) for over Rs 1,450 crore.

Divi’s Laboratories: Shares of Divi's Laboratories rose 4% after the US Food and Drug Administration (USFDA) cleared the company’s Chippada unit in Andhra Pradesh with zero observation.

Lupin: Lupin fell 2.3% after the pharmaceutical company said it is recalling more than 18,000 bottles of an antibiotic drug used to treat bacterial infections from the US market.

DHFL: Dewan Housing Finance Corporation Ltd (DHFL) shares declined 5% even as the company said it paid interest and principal of non-convertible debentures (NCDs) due on 14 June.


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