Tata Motors, Escorts among 5 stocks that hogged limelight today

By: | Updated: June 22, 2016 4:48 PM

Tata Motors shares closed 2.58 per cent down at Rs 472.50 after reports said that its luxury car unit Jaguar Land Rover may see its annual profit cut by 1 billion pounds ($1.47 billion) by the end of the decade if Britain leaves the European Union.

Stocks that made news todayTata Motors shares closed 2.58 per cent down at Rs 472.50 after reports said that its luxury car unit Jaguar Land Rover may see its annual profit cut by 1 billion pounds (.47 billion) by the end of the decade if Britain leaves the European Union. (Photo: Reuters)

The BSE Sensex and NSE Nifty on Wednesday as investors’ sentiments remained jittery ahead of Thursday’s crucial referendum that will decide whether Britain will stay in the European Union or not. Sensex dropped 47.13 points down to end at 26,765.65, while NSE Nifty closed 16.20 points down to 8,203.70.

Below are 11 stocks which are in focus today:

Escorts: Share price of the company closed 13.86 per cent up at Rs 207.45. According to Thomson Reuters data, the stock has cut above the ascending trend channel spanning more than two months alongside its upper Bollinger band, a bullish signal for Escorts. Price volume trend (PVT) indicator of Escorts is also at record high, indicating price rise is supported by volume and MACD is positive and above its signal line which is another positive for the stock.

Read more: How stock markets performed today

Textile stocks: Textile-related stocks closed mixed on Wednesday after Cabinet approved sops to boost job creation, manufacturing and exports in labour-intensive textile sector.  Shares of Aarvee Denim closed 7.23 per cent up at Rs 85.30. However, Gokaldas Exports sttled 5.05 per cent down at Rs 110.85.0. Other textile players such as Kitex Garments and Arvind closed lower by 3.40 per cent and 0.87 at Rs 482.75 and Rs 324.15. However, Lakshmi Machine Works ended 0.90 per cent up at Rs 3519.45.

Tata Motors: Shares of the company closed 2.58 per cent down at Rs 472.50 after reports said that its luxury car unit Jaguar Land Rover may see its annual profit cut by 1 billion pounds ($1.47 billion) by the end of the decade if Britain leaves the European Union.

Max Ventures and Industries: Shares of  Max Ventures and Industries, one of the three new holding companies formed after demerger of the erstwhile Max India Limited, listed on bourses on Wednesday at Rs 45. Later, the scrip surged surged 5 per cent to Rs 47.25 against the list price and locked at upper circuit on BSE and NSE both. Max Ventures and Industries (MVIL) is the second company to start trading on the bourses after the demerger of the erstwhile Max India. Max Financial Services, (previously known as Max India Limited) had already started trading post demerger on January, 2016.

 

ITC: As part of succession plan at the top management, diversified ITC Ltd Chairman Y C Deveshwar will step aside from his executive role to a non-executive one at the end of his current tenure in February next year. The company will seek shareholders’ nod at the upcoming Annual General Meeting on July 22 to appoint him as a Non-Executive Director and Chairman for a period of three years with effect from February 5, 2017. Shares of the company closed 1.12 per cent down at Rs 354.55.

 

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