RIL, SBI Cards, HUL among top stocks in action today; Sensex, Nifty gain in morning trade

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Published: May 8, 2020 10:09:47 AM

In the morning session, BSE Sensex reclaimed 32,000-mark while Nifty 50 was trading near its crucial 9,400. These five stocks in action today

RIL, ICICI Securities, SBI Cards and payment Services, HULOn Thursday, Foreign institutional investors (FIIs) bought shares worth Rs 19,056.49 crore, while domestic institutional investors (DIIs), too, bought shares worth Rs 3,818.41 crore

In-line with Asian peers, Indian stock markets gained 2 per cent in Friday’s opening session. The rally was led by firm global cues, Rs 19,000 crore inflows from FPIs on the previous day and reopening of various manufacturing plants to revive the economy battered by the fast-spreading coronavirus. In the morning session BSE Sensex reclaimed 32,000-mark while Nifty 50 was trading near its crucial 9,400. On Thursday, Foreign institutional investors (FIIs) bought shares worth Rs 19,056.49 crore, while domestic institutional investors (DIIs), too, bought shares worth Rs 3,818.41 crore on net basis, according to the data available on the National Stock Exchange (NSE).

Reliance Industries (RIL): Mukesh Ambani led company announced that US-based technology firm Vista Equity will invest Rs 11,367 crore in Jio Platforms for a 2.32 per cent equity stake. This is the third investment announcement by the company in less than three weeks. The investment by Vista Equity Partners in Reliance Jio values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. RIL (Reliance Industries) share price gained 2.64 per cent at Rs 1547 apiece on BSE in the opening session.

SBI Cards and Payment Services: SBI Cards and Payment Services share price was trading 1.41 per cent higher at Rs 581.90 ahead of its March quarter results. Reliance Power, Reliance Infrastructure, Reliance Home Finance and Reliance Capital are among other companies set to announce their quarter earnings today.

Tata Motors: Tata Motors has decided to withdraw the issue for private placement of unsecured non-convertible debentures (NCD) in view of the higher cost expectations from the market participants due to the tight money market conditions. Tata Motors shares were trading nearly 2 per cent higher at 84.10 apiece on BSE.

Hindustan Unilever: GlaxoSmithKline Pte Limited and Horlicks Limited agreed to the sale of 133,772,044 ordinary shares in HUL at a volume-weighted average price of approximately Rs. 1,905 per share. Following settlement of the sale, GSK will no longer hold any HUL shares, GSK said in a filing. GSK has offloaded its 5.7 per cent stake in Hindustan Unilever for around Rs 25,480 crore. HUL shares gained over 3 per cent to trade at Rs 2,057.95 per equity share.

ICICI Securities: ICICI Securities reported a consolidated net profit of Rs 156 crore in the March quarter, up 28 per cent year-on-year (y-o-y). The company reported consolidated revenue of Rs 482 crore in the quarter ended on March 31. ICICI Securities share price jumped 7.16 per cent to Rs 403.95.

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