Indian stock markets were trading in the negative zone on Friday, i.e. 22 November, amid volatile trade. At 10:43 am, the benchmark S&P BSE Sensex stood at 40,448.37, down 126.80 points, or 0.31%, while the Nifty 50 index fell 35.40 points, or 0.3%, to 11,933. Infosys, RITES, Tata Power, Motherson Sumi, BHEL and Tata Motors were among the key stocks in news today. Read on to know more:
Infosys: Infosys Ltd shares lost 4% after former director TV Mohandas Pai made a comment on the matter of the whistleblower complaint. He said companies need to be forthcoming on allaying concerns after whistleblower allegations and not resort to “rhetoric" like invoking God to defend.
RITES: RITES Ltd shares declined 3.3% after the government said it is selling up to 37.5 million shares (or 15% equity in the company) via offer for sale (OFS) on 22 November and 25 November
Tata Power: Tata Power Co. Ltd shares rose 1.6% after the company raised Rs 1,500 crore by issuing unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) on private placement basis.
Motherson Sumi: Motherson Sumi Systems Ltd jumped 3.8% after Goldman Sachs maintained ‘Buy’ on the stock with a target price of Rs 155.
BHEL: Bharat Heavy Electricals Ltd (BHEL) shares rise 1.5% even as Crisil downgraded the rating on the long-term bank facilities of the company to ‘CRISIL AA’ from ‘CRISIL AA+’, while revising outlook from ‘negative’ to ‘stable’.
Tata Motors: Tata Motors Ltd shares fell 1.4% after Jaguar Land Rover’s chief executive Ralf Speth said he was open to more alliances to lower the costs of developing technology, but is not looking at a full-blown corporate merger.
Finolex Cables: Finolex Cables Ltd shares gained 2.5% after the company launched electrical accessories range to fortify its product offering.
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