Indian stock markets pared early morning gains to trade flat on Monday amid weak Asian stocks as China’s economic growth slowed in the second quarter. At 10:50 am, the S&P BSE Sensex was trading down 7.25 points, or 0.02%, to 38,728.98, while the Nifty 50 index was down 16.20 points, or 0.14%, to 11,536.30. Infosys, DHFL, DMart, Allahabad Bank, Yes Bank were among the key stocks in focus today, 15 July. Read on to know more:
Infosys: Infosys Ltd shares jumped nearly 6% in early trade after the company’s Q1 earnings beat analyst expectations on all major fronts – revenue, profit and margins. Net profit rose to Rs 3,802 crore for the June quarter, up 5.3% on a year-on-year basis, but down 6.8% compared with the previous quarter.
DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares crashed 15% after the housing finance firm said the developments in last few quarters have threatened its ability to continue as a going concern. DHFL posted its biggest ever quarterly loss of Rs 2,224 crore for the June quarter.
Yes Bank: Yes Bank Ltd shares gained as much as 5.4% ahead of the board meet on 17 July to consider and approve the bank’s financial results for June quarter.
Allahabad Bank: Allahabad Bank shares plunged over 14% after the bank reported a fraud of Rs 1,775 crore by Bhushan Power and Steel to the Reserve Bank of India.
DMart: Shares of Avenue Supermarts Ltd, which runs the DMart chain of stores in India, climbed 6.5% after the company reported its sharpest rise in operating and net profit margins in five quarters. Consolidated profit rose 32% year-on-year to Rs 323.09 crore in the June quarter, while revenue jumped 27% to Rs 5,814.6 crore.
Sun Pharma: Sun Pharmaceutical Industries Ltd shares gained over 4% after Morgan Stanley double upgraded Sun Pharma stock, according to a media report.
IndusInd Bank: IndusInd Bank Ltd shares rose 1.4% after the private sector lender on Friday reported a 38.3% jump in net profit to Rs 1,432.50 crore for the June quarter on account of lower-than-expected provisioning and growth in core interest income.
Indigo: Shares of InterGlobe Aviation Ltd, which operates India’a largest airline IndiGo, dropped as much as 4.6% after it confirmed receiving four show cause notices from Directorate General of Civil Aviation to flight operations and safety departments. The stock, however, trimmed losses later to trade flat.
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