Indian stocks recovered from initial losses to trade in the positive zone on Wednesday. At 10:43 am, the benchmark S&P BSE Sensex rose 120.75 points, or 0.3%, to 39,084.59, while the Nifty 50 index inched up 30 points, or 0.26%, to 11,618.40.
Axis Bank, Infosys, RBL Bank, HCL Tech and hero MotoCorp were among the key stocks in news today. Read on to know more:
Axis Bank: Axis Bank Ltd shares gained 2.4% after the lender reported net loss at Rs 112.1 crore in the September quarter compared with a profit of Rs 789.6 crore a year ago.
Infosys: Infosys Ltd shares recovered 1.5% after getting thrashed in the previous session even as Rosen Law firm announced filing of securities claims against the company in the backdrop of the whistleblower complaint against executives fudging financials.
RBL Bank: RBL Bank Ltd shares dived nearly 20% after Q2 profit fell 73% to Rs 54 crore in the September quarter compared with Rs 204.6 crore a year ago.
HCL Tech, Hero MotoCorp: HCL Technologies Ltd shares were up 3%, while Hero MotoCorp rose 1% ahead of their September quarter earnings later in the day. Other major companies to announce earnings include Biocon, Larsen and Toubro, Bajaj Auto, HDFC Life among others.
Asian Paints: Asian Paints Ltd shares slipped 1% after the company reported a 67.5% year-on-year rise in consolidated net profit at Rs 823.41 crore for September quarter, while consolidated revenue rose 9.4% to Rs 5,050.66 crore.
Lupin: Lupin Ltd shares inched down 1.2% after the company received approval from the US health regulator to market its generic Divalproex Sodium extended-release tablets in the American market.
IndiaMART: Indiamart Intermesh Ltd shares rose 3.2% after the company posted 55% decline in consolidated net profit at Rs 9 crore for the September quarter, mainly on account of change in tax rate and regulations.
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