Indian stock markets were trading mildly positive in morning trade on Tuesday, i.e. 30 July. At 11:01 am, the S&P BSE Sensex rose 102.37 points, or 0.27%, to 37,788.74, while the Nifty 50 index was up 28.45 points, or 0.25%, to 11,217.65. Coffee Day Enterprises, Strides Pharma, Hero MotoCorp, Axis Bank, Tech Mahindra, Dr. Reddy’s Laboratories, DLF and Vodafone Idea were among the key stocks in focus today:
Coffee Day Enterprises: Shares of Coffee Day Enterprises Ltd, the owner of India’s largest coffee chain Cafe Coffee Day (CCD), plunged 20% after the company’s founder VG Siddhartha went missing on Monday evening.
Strides Pharma: Strides Pharma Science Ltd shares surged nearly 10% after the company announced its entry into the Chinese market through a joint venture between its Singapore-based step down subsidiary Strides Pharma Global Pte (SPG) and Sun Moral International (HK) Ltd, a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd (Sihuan), one of China’s leading pharmaceutical companies.
Earnings: Companies like Hero MotoCorp Ltd, Tech Mahindra Ltd and Axis Bank Ltd will announce their earnings later in the day. Hero MotoCorp shares lost over 2.5%, Axis Bank was down 0.2% and Tech Mahindra fell 0.5% ahead of their results announcement.
Vodafone Idea: Shares of Vodafone Idea extended losses for a second day, falling over 3%. The stock had plunged 26% in the previous trading session after it posted a consolidated net loss of Rs 4,873.90 crore for the quarter ended June.
Dr Reddy’s: Dr Reddy’s Laboratories Ltd shares gained 1.5% after the pharma company’s net profit jumped 45.4% to Rs 663 crore in the June quarter compared with Rs 456.1 crore a year ago.
DLF: DLF Ltd shares rose 1.4% after the company’s net profit jumped to Rs 413 crore in the June quarter versus Rs 172.4 crore a year ago on a one-time gain of Rs 296.5 crore.
Coal India: Coal India Ltd shares inched up 0.6% after the President of India acting through the ministry of coal sold 1.7% equity shares of the company for Rs 2,247 crore.
Zee Entertainment: Zee Entertainment Enterprises Ltd shares rose 1.3% after a news report said that a consortium led by US cable major Comcast and comprising Atairos, Blackstone and James Murdoch’s Lupa Systems submitted a binding offer late on Monday to buy out the company.
Comments
0 comment