Indian stock markets traded weak on Thursday on weak Asian cues.
At 11:08 am, the benchmark S&P BSE Sensex was down 203.70 points, or 0.5%, to 38,101.71, while the Nifty 50 index fell 59.10 points, or 0.52%, to 11,300.80. Yes Bank, Tata Motors, IndiGo, Hero MotoCorp and Indraprashtha Gas were among the key stocks in news today. Read on to know more:
Yes Bank: Yes Bank shares bounced back 29% after the lender informed that a forced sale of 10 crore equity shares (3.92% of the bank’s equity share capital) was carried out on 1 October that led to a crash in the stock price that day.
Tata Motors: Tata Motors Ltd shares jumped 5.5% even as the company’s domestic sales in September fell 50% to 32,376 units compared with 64,598 units a year ago.
M&M: Mahindra and Mahindra Ltd (M&M) shares dropped 1.7% after the company and Ford Motor formed joint venture (JV) in which the company will own 51%.
IndiGo: Shares of InterGlobe Aviation Ltd, which operates the IndiGo airline, dropped 4.8% after the airline sought arbitration proceedings in London against the backdrop of differences with co-promoter Rakesh Gangwal.
Hero MotoCorp: Hero MotoCorp Ltd shares rise 1.7% after the company reported a month-on-month growth of 12.6% in two-wheeler sales in September.
Indraprastha Gas: Indraprastha Gas Ltd shares slipped 1% as the company cut prices of CNG by Rs 1.90 per kg in Delhi and Rs 2.15 per kg in Noida, Greater Noida and Ghaziabad.
Hindustan Aeronautics: Hindustan Aeronautics Ltd shares fall 1.2% after labour unions at various locations of the company gave notice of indefinite strike from 14 October in support of their demand for fair and early settlement of wage revision.
Lakshmi Vilas Bank: Lakshmi Vilas Bank shares were down 5% after the bank said its independent director Supriya Prakash Sen has resigned from its board on personal grounds. The resignation comes days after RBI initiated prompt corrective action against the private sector lender on 28 September.