The BSE Sensex and NSE Nifty fell over 2 per cent on Friday after Britain voted to leave the European Union, sending global markets sharply lower. Sensex plunged by 604.51 points to close at 26,397.71, while NSE Nifty nosedived 181.85 points to 8,088.60.
Below are the 5 stocks that are in focus today
Motherson Sumi Systems: Shares of the company ended 8.30 per cent down at Rs 276.80 after it witnessed selling pressure following UK’s decision to leave the European Union. The company earns around 70 per cent of its revenues from exports to the Europe.
Tech Mahindra: Tech Mahindra: Stocks of the company closed 4.74 per cent down at Rs 506.85 after Britain decided to exit from the European Union in a referendum. The company gets around 20-25 per cent export from UK. Vineet Nayyar, executive vice-chairman, Tech Mahindra said, “there will be a marginal effect of Brexit on the company’s profit and we do not see any significant impact.” He added that UK economy is strong and will overcome this minor fluctuation.
Tata Motors: Shares of the company settled the day 7.99 per cent down at Rs 449 after Britain voted in favour of leaving the European Union and said that each of its 19 firms having interests in the UK will do a business review. Tata Motors generates majority of its revenue from its British luxury car unit Jaguar Land Rover. According to company’s website, Jaguar Land Rover contributed 83.2 per cent of the company’s total automotive revenue in 2014-15 compared to 82.2 per cent in 2013-14.
HDFC: Stocks of the company closed 1.52 per cent down at Rs 1223.65 as it has invoked 35,000 shares of United Spirits pledged to it by Kingfisher Finvest India, a firm promoted by embattled businessman Vijay Mallya.
Bank of India: Stocks of the public sector bank ended 1.61 per cent down at Rs 94.90 after it raised Rs 1,000 crore through bonds that comply with Basel-III norms for capital adequacy.