1. Stocks that made news today: Larsen & Toubro, ITC, ICICI Bank and more

Stocks that made news today: Larsen & Toubro, ITC, ICICI Bank and more

Larsen & Toubro shares closed 4.11 per cent down at Rs 1411.15 after its second-quarter net profit missed street estimates.

By: | Updated: October 30, 2015 4:17 PM
Larsen and Toubro

Larsen & Toubro shares closed 4.11 per cent down at Rs 1411.15 after its second-quarter net profit missed street estimates. (Photo: Reuters)

The BSE Sensex posted a fifth consecutive fall on Friday and dropped 181.31 pts to end at 26,656.83 after the earnings from ITC and Larsen and Toubro raised concerns about the health of the corporate sector. NSE Nifty fell 45.95 points to close at 8,065.80.

Below are the stocks that made news today.

ICICI Bank: Shares of the private lender closed 2.04 per cent up at Rs 277 after the bank announced 11.85 per cent increase in its standalone net profit figures for the second quarter ended September 30, 2015. ICICI Bank registered net profit of Rs 2709.01 crore in the corresponding quarter a year ago.

Larsen & Toubro: Share price of engineering and construction company closed 4.11 per cent down at Rs 1411.15 after its second-quarter net profit missed street estimates. The company also downgraded its order inflow guidance to 5-7 per cent from 15 per cent earlier.  It reported 15.56 per cent rise in its consolidated net profit figures at Rs 995.90 crore for the quarter ended September 30, 2015.

Jet Airways & SpiceJet: Shares of aviation companies came into limelight on Friday after the government proposed to hike FDI limit in domestic airlines to over 50 per cent in open skies policy. Shares of Jet Airways closed 9.34 per cent up at Rs 436.70. SpiceJet shares surged 8.47 per cent at Rs 46.75 on Friday. The key benchmark index, BSE Sensex closed 0.68 per cent down at 26,656.83.

Nestle India: Share price of Nestle India closed 1.47 per cent down at Rs 6,190 after the company has reported a 60.1 per cent decline in its standalone net profit figures at Rs 124.20 crore for the third quarter ended September 2015. Nestle India posted net profit of Rs 311.29 crore in the same period last fiscal.

ITC: The FMCG major’s shares closed 4.30 per cent down at Rs 334.70 after the company reported a marginal rise of 0.25 per cent at Rs 2,431.25 crore in its standalone net profit for the quarter ended September 30, 2015.

Kotak Mahindra Bank: Shares of the private lender ended 3.77 per cent up higher Rs at 688.60 after the company reported consolidated net profit of Rs 942 crore for the second quarter ended September 30, 2015-16.

Glenmark Pharmaceuticals: Share price of the pharma major gained as much as 4.5 per cent in the morning trade on Friday after the company informed stock exchanges that Glenmark Pharmaceuticals Inc., USA has been granted tentative approval by the United States Food & Drug Administration (USFDA) for its Lacosamide Tablets, 50 mg, 100 mg, 150 mg and 200 mg, the generic version of Vimpat Tablets, 50 mg, 100 mg, 150 mg and 200 mg of UCB, Inc. Later, the scrip closed 5.01 per cent up at Rs 991.

NTPC: Share price of the public sector company closed 3.83 per cent up at Rs 132.70 after the company posted around 40 per cent increase in net profit for the second quarter ended September.

 

  1. R
    Ram
    Nov 15, 2015 at 11:56 pm
    ITC is no longer the company of past, is rampant with sychophancy, yes-man culture past years with HR playing a muted clandestine role. All Yogi Deveshwar's sychophants (some even corrupt) have been thriving and protected inspite of huge bers past years, while many honest and competent Managers were shunted out and fired past years. Just as an example, look at the case of one of Deveshwar's biggest Sychophants, the current head of ITC's flagship Tobacco business, who kept getting key roles in ITC inspite of huge bers across career, eg when he heavily bered in his earlier role as MD of ITC Infotech, where he committed serious irregularities like allowing rampant illegal misuse of U.S work Visas for sending IT Consultants for work in U.S, and protected/encouraged Corrupt Management staff who were his sychophants and who were having thriving side businesses against the company's interests, and also abusing his closeness with Deveshwar and hence total free hand and non-accountability, to har and victimize many honest highly competent senior staff. There are many examples like this in ITC culture past years. Maybe this pampered non-accountability Management culture got built over past decades of a very cosy cash rich situation due to booming cancer producing cigarette businesses.
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