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Vodafone Idea, Thomas Cook, Sterlite Tech, Religare Among Key Stocks in Focus Today

Representative image.

Representative image.

Vodafone Idea Ltd shares advanced nearly 18% even as Brickwork Ratings downgraded the rating on the company’s non-convertible debentures.

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Indian stocks erased early morning losses to trade flat on Thursday in a volatile session. At 10:35 am, the benchmark BSE Sensex was trading down 9.51 points, or 0.02%, while the Nifty 50 index stood almost unchanged at 12,126.55. Vodafone Idea, Thomas Cook, Sterlite Technologies, Religare Enterprises and Kotak Mahindra Ltd were among the key stocks in focus today. Read on to know more:

Vodafone Idea: Vodafone Idea Ltd shares advanced nearly 18% even as Brickwork Ratings downgraded the rating on the company’s non-convertible debentures, aggregating to Rs 2,500 crore, from ‘BWR BBB-’ to ‘BWR BB-’.

Thomas Cook: Thomas Cook India Ltd shares surged 20% on news that the board will consider share buyback on 26 February.

Sterlite Technologies: Sterlite Technologies Ltd advanced 7% after the company said it has bagged orders worth Rs 1,500 crore so far in 2020.

Religare Enterprises: Religare Enterprises Ltd shares jumped 5% after Axis Bank sold 29 lakh shares of the company through a bulk deal on NSE on 19 February.

Kotak Mahindra Bank: Kotak Mahindra Bank Ltd shares fell 1.5% after the lender said the Reserve Bank of India (RBI) has granted its final approval for reducing promoters’ stake in the bank to 26%.

NIIT: NIIT Technologies Ltd rose 1.7% after the company declared an interim dividend of Rs 8 per equity share and fixed the record date as 3 March 2020 for the purpose.

GMR Infra: GMR Infrastructure Ltd shares gained 2.2% after the Delhi International Airport bond issue was oversubscribed by 8 times.

Sunteck Realty: Sunteck Realty Ltd shares jumped 4.3% after the company said response for Sunteck MaXXWorld at Naigaon remained encouraging with number of apartment units sold reaching 1,800 mark.

McLeod Russel: McLeod Russel India Ltd shares dropped 4% after the company defaulted on loans worth Rs 1,187.09 crore as on 31 December 2019.

Asian Paints: Asian Paints Ltd shares slipped 0.8% on news that the board will consider and approve payment of second interim dividend in 25 February meeting. The company has also fixed record date as 4 March 2020 for the purpose of the second interim dividend.

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