Tata Motors, Strides Pharma, Lakshmi Vilas Bank Among Key Stocks in Focus Today
The 30-share S&P BSE Sensex closed down 167.17 points, or 0.4%, at 38,822.57 on Friday, while the Nifty 50 index slipped 58.70 points, or 0.51%, to 11,512.50.
After choppy trade throughout the session, Indian stocks ended the day on a weak note. The 30-share S&P BSE Sensex closed down 167.17 points, or 0.4%, at 38,822.57 on Friday, while the Nifty 50 index slipped 58.70 points, or 0.51%, to 11,512.50. Tata Motors, Strides Pharma, Lakshmi Vilas Bank, Yes Bank and Vedanta were among the key stocks in news today. Read on to know more:
Tata Motors: Tata Motors Ltd shares ended down 3.5% after Jaguar Land Rover said it will halt production at British factories for a week in November to mitigate potential disruption from a no-deal Brexit.
Strides Pharma: Strides Pharma Science Ltd shares plunged 8% after suspended sales of ranitidine tablets in the US market.
Lakshmi Vilas Bank: Lakshmi Vilas Bank Ltd shares were down 5% as the Economic Offences Wing filed a case against the lender, former Religare promoters Malvinder and Shivinder Singh and others for criminal breach of trust and conspiracy in Religare Finvest case.
Yes Bank: Yes Bank Ltd shares fell 5% after promoter group firm Yes Capital Pvt. Ltd sold 1.8% stake in the lender.
Vedanta: Vedanta Ltd shares plunged 6% due to profit-booking, wiping out gains from the previous session when the stock gained 6.5% on reports that the government was looking to sell residual stake in Hindustan Zinc.
Reliance Capital: Shares of Reliance Capital Ltd plunged 4% after Brickwork downgraded the rating of the company’s non-convertible debentures (NCDs).
ITC: ITC Ltd gained 2% after Morgan Stanley maintained an overweight call on the stock, with target raised to Rs 370 from Rs 360 per share.
DHFL: Shares of Dewan Housing Finance Corp. Ltd (DHFL) shed 1.5% after a media report said that company has presented a proposal which involves lenders taking over 60% stake in the firm.
NTPC: NTPC Ltd shares added 2% after CLSA maintained a buy rating on the stock, with a target of Rs 165 per share.
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