HUL, GSK Consumer, India Cements, RITES, V-Mart Among Key Stocks in Focus Today

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RITES Ltd shares dropped 5.7% after the government decided to sell up to 5% stake in the company via OFS (offer for sale), setting the floor price at Rs 298 per share.

Indian stock markets extended losses for a fifth straight session on Thursday as global cues remained weak. At 11:08 am, the benchmark BSE Sensex was trading down 361.23 points, or 0.9%, at 39,527.73, while the Nifty 50 index fell 112.20 points, or 0.96%, to 11,566.30. HUL, GSK Consumer, India Cements, RITES, V-Mart Retail, Biocon and IndiGo were among the key stocks in news today. Read on to know more:

HUL, GSK Consumer: Hindustan Unilever Ltd (HUL) shares dropped 1.2%, while those of GlaxoSmithKline Consumer Healthcare Ltd rose 1.4% after the National Company Law Tribunal (NCLT) approved scheme of amalgamation and agreement between the two companies.

India Cements: India Cements Ltd shares dropped over 6% after surging 40% in two days. Billionaire Radhakishan Damani and his brother Gopikishan Damani increased their stake in the company for the second consecutive day on Thursday, taking total shareholding in the firm to 11.58%.

RITES: RITES Ltd shares dropped 5.7% after the government decided to sell up to 5% stake in the company via OFS (offer for sale), setting the floor price at Rs 298 per share.

V-Mart Retail: V-Mart Retail Ltd shares plunged 7.5% after a media report said the company would invest Rs 70 crore to open 40 stores in FY21.

Biocon: Biocon Ltd shares fell over 2% after the US Food and Drug Administration (FDA) issued Form 483 with two observations for its Bengaluru facility.

IndiGo: InterGlobe Aviation Ltd shares lost 1.9% even as IndiGo CEO strongly denied any allegations of wrongdoing or avoidance of processes to a media channel.

DB Corp: DB Corp Ltd shares declined 2.8% after the promoter created pledge on 20.43 lakh shares (1.17% equity) on 24 February.

Thomas Cook: Thomas Cook India Ltd shares were down 3.2% after the company announced buyback of 2.61 crore shares at Rs 57.50 apiece.

CONCOR: Container Corporation of India Ltd (CONCOR) shares slipped 2.6% after the company signed a service agreement with RZD Logistics JSC (subsidiary of Russian Railways) to transport cargo between India and Russia using a single invoice.