Domestic benchmark indices BSE Sensex and NSE Nifty closed in red on Thursday tracking weak Asian markets and subdued macro economic data. Remaining in the negative for the second month in a row, industrial production contracted by 0.7 per cent in August due to slump in manufacturing, mining and capital goods segments. The factory output, measured by movement in Index of Industrial Production (IIP), had slipped to 8-month low of (-)2.49 (revised) in July on account of declining output in manufacturing and capital goods sectors. Sensex settled 439.23 points down at 27,643.11, while the 50-share index shed 135.35 points at 8,573.35. Markets also stood cautious ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday. Shares of TCS closed 2.17 per cent down at Rs 2328.50 ahead of the second quarter result later in the day.
Below are 10 stocks that remained in news today:
1) Tata Consultancy Services: Shares of TCS closed 2.17 per cent down at Rs 2,328.50 ahead of the second quarter result later in the day.
2) Cyient: Cyient shares soared over 10 per cent after the company reported 31.47 per cent rise in net profit at Rs 97.25 crore for the quarter ended September 30, 2016 against Rs 73.97 crore in the sequential quarter ended June 30, 2016
3) Palred Technologies: Palred Technologies’ LatestOne.com, India’s No.1 Mobile and tech accessories e-tailer has launched PTron Tronite One smart watch at just 1499. This is in line with PTron’s strategy of continuously innovating and introducing new products to meet rapidly changing customer needs and demands. Tronite One is a muti functional mobile device designed to be worn on the wrist. Shares of Palred Technologies closed 7.63 per cent up at Rs 86.
4) Blue Dart: Blue Dart Express shares closed 4.28 per cent down at Rs 5,325. Shares of the company plunged after it posted a 20.68 per cent decline in its net profit to Rs 42.80 crore for the quarter ended September. It had registered a net profit of Rs 53.96 crore during the corresponding period of the previous fiscal. Total income from operations grew to Rs 663.22 crore during the quarter as against Rs 653.05 crore in the year-ago period.
5) Jammu & Kashmir Bank: Jammu & Kashmir Bank slipped 14.34 per cent to Rs 74.40. The bank’s chairman & CEO, Parvez Ahmed had a conference call with investors today around 11.30 am.
6) IndusInd Bank: IndusInd Bank on Wednesday registered 25.75 per cent jump in net profit to Rs 704 crore for the second quarter ended September 30, 2016. It had recorded a net profit of Rs 560 crore in the July-September quarter of last fiscal. Shares of IndusInd Bank closed 0.24 per cent down at Rs 1218.60.
7) IL&FS Engineering: The company has received an order from Gas Authority of India (GAIL) for laying and construction of pipeline along with Associated Facilities of Section II Pipeline from Chainage 159.70 Km to receiving terminal cum future IP Station-4 at Dobhi (Chainage 345.08 Km) for Phulpur-Haldia Pipeline Project (Phase 1B) in Bihar State. The total value of the contract is Rs 162.58 crore, and is to be mechanically completed in 15 months from date of Fax of Acceptance and with additional 3 months for drying, commissioning and GAS-IN. Shares of the company closed 2.48 per cent up at Rs 55.80.
8) Bajaj Electricals: The company has decided to shut down its bulbs and tube lights manufacturing unit at Kosi in Uttar Pradesh (UP). The board of directors of the company at its meeting held on October 10, reviewed the performance/operations of the GLS bulbs and tube lights manufacturing unit at Kosi and decided to close the unit with effect from October 13, 2016. Shares of Bajaj Electricals settled 0.37 per cent down at Rs 258.75.
9) Asian Granito India (AGIL) : Asian Granito has completed a major expansion at its step subsidiary, ‘Crystal Ceramics Industries (Crystal Ceramics)’. AGIL acquired Artistique Ceramic in FY 2015-16 through amalgamation scheme approved by Hon: Gujarat High Court, which holds 70 per cent in Crystal Ceramics through Kediya Ceramics. The scrip closed 1.03 per cent down at Rs 279.15.
10) Gruh Finance: The company posted 19.86 per cent increase in its net profit at Rs 61.98 crore for the quarter second quarter ended September 2016 as compared to Rs 51.71 crore for the same quarter in the previous year. Total income of Gruh Finance increased by 17.84 per cent at Rs 367.43 crore for the quarter under review as compared Rs 311.81 crore for the corresponding quarter last year. Gruh Finance shares settled 0.72 per cent down at Rs 357.95.