New Delhi: Indian stocks resumed their upward march on Wednesday supported by positive Asian cues. At 9:59 am, the benchmark BSE Sensex was trading up 360 points, or 0.87%, at 41,576.16, while the Nifty 50 rose 98.75 points, or 0.82%, to 12,206.65. BHEL, Allahabad Bank, IndusInd Bank, IRCTC, Ashok Leyland, IDBI Bank and Coal India were among the key stocks in news today. Read on to know more:
BHEL: Bharat Heavy Electricals Ltd (BHEL) shares tanked 6.5% as Q3 profit fell 17.3% to Rs 158.8 crore compared with a year ago.
Allahabad Bank: Allahabad Bank shares dipped 5.5% as the lender’s Q3 net loss came in at Rs 1,986.3 crore versus a loss of Rs 732.8 crore a year ago.
IndusInd Bank: IndusInd Bank Ltd shares were down 3.2% after ratings agency Moody’s revised outlook on the bank’s rating to ‘negative’ versus ‘stable’ on the risk of worsening loan quality.
IRCTC, Ashok Leyland: Shares of Indian Railway Catering and Tourism Corp. Ltd (IRCTC) dropped over 4%, while those of Ashok Leyland Ltd were down 2% ahead of the announcement of earnings for the third quarter ended December (Q3). Other major companies to announce results today include Divis Laboratories, Dish TV, NBCC, Info Edge India, Religare, Hindalco and ABB India.
IDBI Bank: IDBI Bank Ltd shares dropped 4.7% after the lender’s Q3 loss widened to Rs 57.63 crore versus a loss of Rs 41.85 crore a year ago.
Coal India: Coal India Ltd shares slipped 0.6% as net profit fell 14.1% to Rs 3,921.8 crore in the December quarter compared with a year ago.
Syndicate Bank: Syndicate Bank Ltd shares gained as much as 5% after the bank said its net profit grew to Rs 434.82 crore for the December quarter compared with Rs 108 crore in the year-ago period.
Aster DM Healthcare: Aster DM Healthcare Ltd shares surged 9% after the company’s Q3 profit jumped 33.7% to Rs 151.4 crore compared with a year ago.
CARE Ratings: CARE Ratings Ltd shares declined nearly 4% after SB Mainak resigned as chairman and independent director with immediate effect.
Godrej Properties: Godrej Properties Ltd shares inched up 1% as the company acquired 20% issued and paid-up share capital of Vivrut Developers.
Glenmark Pharma: Glenmark Pharmaceuticals Ltd shares rose 1% on news that the company will consider proposals to raise funds on 14 February.
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