Yes Bank, Ambuja Cements, TVS Motor, Mindtree Among 10 Stocks in News Today
At 11:13am on Thursday, the S&P BSE Sensex was up 111.78 points or 0.3% at 39,143.33. The Nifty 50 index was up 22.70 points or 0.2% at 11,770.80.
Representative image of Sensex.
Key equity benchmark indices, Sensex and Nifty, bounced back in the positive territory on Thursday after opening in the red. At 11:13am, the S&P BSE Sensex was up 111.78 points or 0.3% at 39,143.33. The Nifty 50 index was up 22.70 points or 0.2% at 11,770.80. The market breadth was mildly positive. On BSE, 976 shares rose and 833 shares fell. Here are the 10 stocks that kept traders busy:
1) TVS Motor Co. shares fell as much as 8% in early trade after the auto maker said its net profit was down 19.2% in the March quarter to Rs 133.8 crore; revenue rose 9.4% to Rs 4,384 crore. The stock later recovered to trade nearly 3.4% lower at Rs475.30.
2) Jet Airways slide as much as 22.4% to Rs118.90 on reports that the bidders for the airline so far appear uninterested in following up on their expressions of interest. With just 10 days to go for final submission of bids, three of the four qualified bidders — Etihad Airways, TPG Capital and Indigo Partners — have not signed nondisclosure agreements, a must for conducting due diligence.
3) Mindtree shares are trading flat; fluctuating between the positive and negative territories, after Larsen and Toubro bought about 20% in the IT services company from VG Siddhartha through block deals on the stock exchanges. L&T shares are up 1.5% to Rs 1,369.70.
4) Maruti Suzuki India shares drop as much as 2% in intra-day trade to Rs 6,525 after the company reported 17% decline in its April sales to a total of 143,245 units. The company's domestic sales were down 19% at 133,704 units against 164,978 in April 2018.
5) Escorts shares tumble over 8% to Rs678.30 apiece after the company said April tractor sales declined 14.9% to 5,264 units against 6,186 units in April 2018
6) Yes Bank shares rebounded nearly 5% in morning trade on Thursday to Rs175.95 after plummeting nearly 30% in a single trading session on Tuesday. The markets were closed on Wednesday on account of Maharashtra day.
7) Ambuja Cements Ltd shares rise nearly 2.5% to Rs225.95 apiece after the company reported 35.18% increase in its consolidated net profit at Rs695.30 crore for the first quarter ended March led by volume growth.
8) Hero MotoCorp Ltd stock rises 1.8% to Rs2,558 after the two-wheeler maker on Wednesday launched three new premium motorcycles – XPulse 200, XPulse 200T and Xtreme 200S—in the price range of Rs94,000-1.05 lakh.
9) Britannia Industries shares drop nearly 2% to Rs 2,840 apiece after the company reported an 11.82% increase in consolidated net profit at Rs294.27 crore for the fourth quarter ended March.
10) Bombay Dyeing and Manufacturing Co. shares jump 8% to Rs121.75 apiece ahead of the company’s earnings announcement today. The stock had dropped as much as 17.6% on Tuesday after media reports said Wadia group heir, Ness Wadia, has been sentenced to a two-year jail term in Japan over possession of drugs while on a skiing holiday.
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