Indian stock markets continued to trade weak on Thursday, i.e. 1 August, on sluggish global cues after the head of the US central bank said he did not view the rate cut decision as the start of a lengthy series of rate cuts. At 10:54 am, the S&P BSE Sensex was down 372.30 points, or 1%, to 37,108.82, while the Nifty 50 index fell 108.10 points, or 0.97%, to 11,009.90. Zee Entertainment, IndiaMart InterMesh, Eicher Motors, Wipro, Bharti Airtel and Jagran Prakashan were among the key stocks in focus today. Read on to know more:
Zee Entertainment: Zee Entertainment Enterprises Ltd shares dropped nearly 4% after its financial investor Invesco Oppenheimer Developing Markets Fund agreed to buy up to an 11% additional stake in the company from its promoters for a total consideration value of up to Rs 4,224 crore.
IndiaMart InterMesh: IndiaMart InterMesh Ltd shares gained 6% as consolidated profit stood at Rs 32.4 crore in the June quarter against loss of Rs 56.4 crore a year ago, while revenue jumped to Rs 147.3 crore versus Rs 113.3 crore.
Eicher Motors: Eicher Motors Ltd shares fell 3.4% as the company’s net profit declined 21.6% to Rs 451.8 crore in the June quarter compared with Rs 576.2 crore a year ago, while revenue dipped 6% to Rs 2,381.9 crore versus Rs 2,534.4 crore.
Wipro: Wipro Ltd shares jumped 4% after the company received final comments on share buyback from Sebi on 30 July. The buyback of shares will open on 14 August and close on 28 August.
Bharti Airtel, Tata Power, Marico: Bharti Airtel Ltd shares dropped over 1%, Tata Power was down over 2%, while Marico rose 1% ahead of the earnings announcements by the companies later in the day.
Jagran Prakashan: Jagran Prakashan Ltd shares slumped 6% after consolidated profit declined 25.6% to Rs 658 crore in the June quarter versus Rs 883.5 crore a year ago, while revenue slipped 3.2% to Rs 5,882 crore versus Rs 6,074.6 crore.
Ashok Leyland: Ashok Leyland Ltd shares fell 1.6% after consolidated profit was down 40.7% to Rs 275 crore in the June quarter versus Rs 463.8 crore a year ago, while revenue slipped 7.5% to Rs 6,514.7 crore versus Rs 7,044 crore.
GMR Infrastructure: GMR Infrastructure Ltd shares rose 2% after the company said it will consider rising up to Rs 27,300 crore via equity and debt.
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