Narayana Hrudayalaya shares closed 3.06 per cent up at Rs 296.70 after it announced that the company has decided to cease operations at its Malla Reddy Narayana Multispecialty Hospital in Hyderabad and entered into an agreement to sell the undertaking to Chandramma Educational Society.
The BSE Sensex and NSE Nifty plunged over 2 per cent on Tuesday, despite the Reserve Bank of India (RBI) slashing the repo rate by 25 basis points, which was in line with market expectations. Bleak global cues and profit booking in rate sensitive stocks also affected market sentiments. The BSE Sensex closed 516.06 points, or 2.03 per cent, down at 24,883.59, while Nifty index settled 167.15 points, or 2.15 per cent, lower at 7,591.65.
Below are 11 stocks that hogged limelight in Tuesday’s trade
Footwear companies stocks: Stocks of footwear companies rallied after the AAP government reportedly rolled back the 5 per cent hike in VAT on low-cost footwear. Achin Goel, head, wealth management and financial planning, Bonanza Portfolio said, “Shares of footwear stocks rallied in Tuesday’s session after the AAP government rolled back the 5 per cent hike in VAT on low-cost footwear.” Relaxo Footwear rallied 13.78 per cent while Liberty Shoes rallied by 4.40 per cent on BSE.
Mphasis: Shares of IT firm Mphasis surged by over 4 per cent intraday after the US-listed Blackstone said it will invest up to Rs 7,071 crore to acquire a majority stake in the mid-sized IT services exporter from Hewlett Packard Enterprise. Later, the scrip settled the day 0.34 per cent up at Rs 456.
DLF, Indiabulls Housing and Apollo Tyres: Shares of DLF, Indiabulls Housing and Apollo Tyres extended their losses on Tuesday after the Finance minister in consultation with PM Narendra Modi, set up a probe to cover 500 Indians, including the promoters of above companies amidst the recent leaks made by Panama Papers. DLF shares closed 4.51 per cent down at Rs 113.30, Indiabulls Housing Finance shares slid 2.84 per cent while Apollo Tyres closed 3.33 per cent down at Rs 165.55.
Narayana Hrudayalaya: Shares of the company closed 3.06 per cent up at Rs 296.70 after it announced that the healthcare service provider has decided to cease operations at its “Malla Reddy Narayana Multispecialty Hospital” in Hyderabad and entered into an agreement to sell the undertaking to Chandramma Educational Society.
Banking, auto and realty stocks: A rate cut by 25 basis points by the Reserve Bank of India (RBI) Governor Raghuram Rajan failed to lift rate sensitive stocks on Tuesday as the BSE Bankex, BSE Realty and BSE Auto closed in red post the announcement. Repo rate is the rate at which RBI lends to the financial system. The cut was broadly in line with market expectations. However, rate sensitive stocks reacted negatively as the BSE Bankex, BSE Realty index and BSE Auto index tumbled 3.21 per cent, 2.59 per cent and 2.82 per cent respectively. The BSE Sensex plunged over 500 points on Tuesday.
IOC, BPCL, HPCL: Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) rallied in the morning trade on Tuesday after OMCs hiked petrol price by 2.19 a litre and diesel by 98 paise per litre from Monday midnight. Shares of HPCL and BPCL closed higher by 0.86 per cent and 0.17 per cent. On the other hand, IOC slid marginally 0.10 per cent to Rs 401.55.
NTPC: State-owned power producer NTPC has been forced to shut 1,600 MW electricity generating units following dip in water level in Farakka canal due to diversion of water to Bangladesh but insisted there will be no shortage of power in West Bengal. Shares of the company ended 3.09 per cent down at Rs 127.
IFCI: Stocks of infrastructure lender IFCI has sold its 0.34 per cent stake in stock exchange NSE for Rs 59.2 crore. Stocks of the company closed 1.43 per cent down at Rs 24.15.