Indian stocks snapped their six-day rally to trade mildly negative on Tuesday, i.e. 22 October. At 10:34 am, the benchmark S&P BSE Sensex fell 97.94 points, or 0.25%, to 39,200.44, while the Nifty 50 index slipped 6.95 points, or 0.06%, to 11,654.90. Infosys, RIL, Yes Bank, HDFC Bank, Tata Motors, Bharti Infratel and Axis Bank were among the key stocks in news on Tuesday. Read on to know more:
Infosys: Infosys Ltd shares plunged 16% after the company was accused of “unethical practices” to inflate its numbers by a group of its employees.
Reliance Industries: Reliance Industries Ltd (RIL) shares rose 1.4% after the company posted 11.5% jump in net profit at Rs 11,262 crore in the September quarter compared with the previous quarter, while revenue dropped 5.4% to Rs 1.48 lakh crore.
HDFC Bank: HDFC Bank Ltd shares gained 2.3% after net profit jumped 26.8% to Rs 6,345 crore in the September quarter compared with a year ago, while net interest income climbed 14.9% to Rs 13,515.1 crore.
Tata Motors: Tata Motors Ltd shares declined 5% after the company said it will consider raising funds by way of issue of one or more instruments on 25 October.
Yes Bank: Yes Bank Ltd shares continued their rally for a seventh straight session, gaining over 10%. The lender is set to take control of real estate developer Sumer Group’s 50% share in two land parcels totalling 6.4 acres in Mumbai’s Santacruz locality for non-payment of dues worth more than Rs 479 crore.
Bharti Infratel: Bharti Infratel Ltd shares dropped 1.7% even as the company posted 61% jump in consolidated net profit at Rs 964 crore in the September quarter.
Axis Bank: Axis Bank Ltd shares inched up 1.3% ahead of the announcement of the bank’s September quarter earnings later in the day. Other companies that will announce Q2 earnings include RBL Bank, Asian Paints, Bajaj Finserv, Bajaj Finance, Ceat, Granules, Jubilant Foodworks, Kotak Mahindra Bank among others.
Comments
0 comment