The BSE Sensex rallied for sixth straight day on Thursday as banking stocks rallied on a report that RBI has trimmed the list of companies that needed bad loan provisioning. Sensex rose 36.20 points to close at 25,880.38, while NSE Nifty shed 2.70 points to settle at 7,912.05.
Below are the 7 stocks that remained in focus today
Wipro: Stocks of the company closed 7.01 per cent down at Rs 559.20 after India’s third-largest IT firm reported 1.6 per cent drop in its March quarter net profit to Rs 2,235 crore due to pressure on margins even as it aims to double revenue to $15 billion by 2020, while its board approved a Rs 2,500-crore share buyback plan.
Biocon: Stocks of the company ended 2.88 per cent down at Rs 550.55 as Biocon Inc, part of biotechnology major Biocon, is recalling in the US 5,505 bottles of cholesterol lowering Simvastatin tablets for being sub-potent, according to the USFDA.
Tide Water Oil (India) Ltd: Stocks of the company closed 2.25 per cent up at Rs 6367 after it informed BSE regarding details of the acquisition (including agreement to acquire) of Price Thomas Holdings Limited, a UK based company. The cost of acquisition is pound 9.59 million.
Sakthi Sugars Ltd: Stocks of the company ended 1.70 per cent up at Rs 38.95 after it informed bourses that a Scheme of Demerger of ABT Limited has been approved by the Hon’ble High Court of Judicature at Madras. ABT Limited, is a company belonging to the Promoter Group, holding majority equity shares (i.e. 70.12%) in the company.
IndusInd Bank: Stocks of the bank ended 1.35 per cent down at Rs 971.65 after it posted a rise of 25.25 per cent in net profit at Rs 620.35 crore for the last quarter of 2015-16 fiscal.
Stone India Ltd: Stocks of the company closed 6.19 per cent up at Rs 78.90 as it has bagged an order for supply & installation of 9090 units of Bio-Toilets to Chattisgarh govt valuing Rs 28.70 crores via its Business Associate, M/s. Cranberry Westlink T & D Inc. This is the single largest order of Bio Toilets for Stone India Limited.
Alembic Pharmaceuticals: Stocks of the company closed 6.89 per cent up at Rs 610.85 after the company entered into a joint venture with Orbicular Pharmaceutical to develop, manufacture and commercialise dermatology products for global markets.