The benchmark stock market indices were trading with modest gains on Tuesday. At 11:15am, the S&P BSE Sensex was trading at 39,881.12, up 97 points or 0.2%. Meanwhile the Nifty 50 index was trading higher by 19.60 points or 0.16%, to 11,942.30. Asian markets were also trading higher tracking gains in the US market overnight. Here are the stocks that were buzzing in trade on Tuesday:
Indiabulls Housing Finance: Shares of Indiabulls Housing Finance Ltd (IHFL) drops as much as 8.5% in intraday trade after the company was accused of siphoning Rs 98,000 crore of public money. However, the company refuted the allegation, terming it as “bizarre” and "made up" by a “racket of blackmailers”.
DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares fall as much as 3.3% after the company sold its entire stake in Aadhar Housing Finance to BCP Topco VII Pte.
Sterlite: Sterlite Technologies climbs as much as 11.8% after the company announced after market hours on Monday that its promoters have removed 100% of the pledge on their shares with immediate effect.
Vodafone Idea: Vodafone Idea Ltd share price rises 2% after Care Rating revised the company’s rating for the long term bank facilities to CARE A+ from CARE AA-.
Bharti Airtel: Bharti Airtel shares slip 1.4% after the telecom operator said it will pay the Tanzanian government 60 billion shillings ($26.2 million) over a period of five years to settle an ownership dispute. Separately, Airtel also said it has upgraded 4G network in Delhi NCR and has deployed LTE 900 technology to boost indoor coverage.
Reliance Industries: RIL shares inch up nearly 1%. The company is planning to shut down one of their crude distillation units and coker unit of its DTA refinery at Jamnagar for routine maintenance and inspection activities for about 3 to 4 weeks starting from 20 June.
Jammu and Kashmir Bank: J&K Bank shares drop by another 5% today. The state government is probing allegations that J&K Bank chairman Parvez Ahmad during his tenure gave loans to people recommended by politicians, and placed his relatives in plum positions.
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