The BSE Sensex and NSE Nifty plunged over 1 per cent on Tuesday on account of selling in frontline blue chip stocks, while sentiment was also affected after exports shrank for the 14th month in a row to 13.6 per cent in January. Sensex slumped 362.15 points to end at 23,191.97, while NSE Nifty cracked below 7,100-mark by falling 114.70 points to 7,048.25.
Below are the top 7 stocks that remained in focus today:
Banking stocks: The 10-share index BSE Bankex dipped as much as 2 per cent on Tuesday after the State Bank of India, chairman, Arundhati Bhattacharya said bad loans of the bank are expected to surge in the coming quarter, which may hit its profitability. Following the statement, share price of State Bank of India (SBI) tanked 6.49 per cent on Tuesday. Other banking majors such as Bank of Baroda (down 6.13 per cent), Punjab National Bank (down 5.60 per cent), ICICI Bank (down 3.24 per cent) and Axis Bank (down 2.86 per cent) also closed in red.
Jindal Steel and Power Ltd(JSPL): Share price of the company were closed 6.34 per cent down at Rs 59.10 after CRISIL downgraded JSPL credit rating to A4+ from A3+, indicating a negative outlook.
United Breweries (Holdings) Ltd: Shares of the company closed 2 per cent down at Rs 787.20 after it received a letter from Punjab National Bank (PNB) on February 15, 2016, whereby the bank has declared the company as a ‘Willful Defaulter’. The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.
Heidelberg Cement India: The company has successfully commissioned the Waste Heat Recovery based Power Generation Plant at its Narsingarh Plant in Damoh, Madhya Pradesh on February 15, 2016. The scrip settled the day 4.95 per cent down at Rs 61.40.
ICICI Bank: Shares of the private lender settled 3.24 per cent down at Rs 196.80 after it said that it plans to raise up to Rs 50,000 crore from bonds in tranches to fund affordable housing and infrastructure projects.
Opto Circuits: Shares of the the company closed 9.99 per cent up at Rs 10.57 after it reported net profit of Rs 6.39 crore for the quarter ended December 2015 against net loss of Rs 178.83 crore in the same quarter last year.
Allcargo Logistics: Shares of the company settled 1.50 per cent down at Rs 157.65 after it reported a 14.30 per cent decline in net profit at Rs 61.51 crore for the quarter ended December 2015 due to decline in income.