Five stocks that made news today: Nestle India, DCB Bank and more

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Updated: October 16, 2015 4:23:36 PM

Nestle India share price gained over 7 per cent intraday on Friday after the company said it has received test results from all three laboratories mandated by the Bombay High Court in August, and that all 90 samples, covering six varieties, were safe for consumption.

Stocks in focusDCB Bank surged as much as 7.09 per cent intraday on Friday after the bank informed BSE before market hours that it has decided to install over 150 branches over a period of 24 months instead of 12 months earlier. (Photo: PTI)

The BSE Sensex and NSE Nifty closed in green on Friday on the back of positive global cues. Sensex and Nifty closed 204.46 points and 58.65 points up at 27,214.60 and 8,238.58, respectively.

In the 50-share index, State Bank of India, Larsen & Toubro, BPCL, YES Bank and Asian Paints gained between 1.65 per cent and 3.15 per cent. On the other hand, Lupin, Adani Ports, Idea Cellular, Bank of Baroda and Tata Steel slid between 0.90 per cent and 2.30 per cent.

Below are some stocks that made news today:

Nestle India: Nestle India share price gained over 7 per cent intraday on Friday after the company said it has received test results from all three laboratories mandated by the Bombay High Court in August, and that all 90 samples, covering six varieties, were safe for consumption. Later the scrip closed 5.59 per cent up at Rs 6,551.

DCB Bank: DCB Bank surged as much as 7.09 per cent intraday on Friday after the bank informed BSE before market hours that it has decided to install over 150 branches over a period of 24 months instead of 12 months earlier – this happened after the management came in for much criticism from analysts and shareholders over its intention to expand in a major way. The share price of the bank settled 3.68 per cent up at Rs 95.75.

Navkar Corporation: Share price of Navkar Corporation (NCL) gained on Friday after Reliance Securites started coverage with ‘buy’ rating. In a research report, the brokerage house said, “We expect the company to post a CAGR growth of 24.2 per cent in revenues, 28.3 per cent in EBITDA and 38.9 per cent in net profit over FY15-FY18E. We initiate coverage on NCL with a ‘Buy’ recommendation with target price of Rs 206.” The share price of the company closed 1.79 per cent up at Rs 158.90.

Mahindra & Mahindra: Auto major Mahindra & Mahindra has sold its entire 71.19 per cent stake in Swaraj Automotives SAL) for Rs 24.84 crore to b4S Solutions. The share price of Mahindra & Mahindra closed 1.19 per cent up at Rs 1,290.10.

Everest Industries: Everest Industries shares gained over 8 per cent on BSE on Friday after HDFC Mutual Fund bought 3.75 lakh shares of the company on October 15 (Thursday).

 

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