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  1. Top 11 stocks that trended in today’s trade: Motherson Sumi, Punjab National Bank and more

Top 11 stocks that trended in today’s trade: Motherson Sumi, Punjab National Bank and more

Punjab National Bank shares settled 6.89 per cent down at Rs 87.85 after it reported a 93.41 per cent decline in net profit at Rs 51.01 crore for the third quarter ended December 31, on account of higher provisioning for bad loans.

By: | Updated: February 9, 2016 4:48 PM
Stocks that made news

Punjab National Bank shares settled 6.89 per cent down at Rs 87.85 after it reported a 93.41 per cent decline in net profit at Rs 51.01 crore for the third quarter ended December 31, on account of higher provisioning for bad loans.

Extending its losing run for a second straight day, the BSE Sensex and NSE Nifty slumped over 1 per cent on sustained foreign fund outflows, while IT stocks fell after Cognizant lowered revenue guidance for the year. Sensex plunged 266.44 points to close at 24,020.98, while Nifty fell 89.05 points to 7,298.20.

Below are the top 11 stocks that trended in today’s trade

Dr Reddy’s Laboratories: Stocks of the pharma company closed 3.61 per cent down at Rs 2959.65 after it posted a marginal increase in consolidated net profit at Rs 579.2 crore for the third quarter ended December 31, hit by weak sales in the emerging markets like Russia, CIS nations and Romania.

PTC India Financial Services (PFS): Shares of the company ended 2.24 per cent on Tuesday after the company posted 26.71 per cent year-on-year (yoy) rise in its net profit figures for the quarter ended December 2015. The company earned Rs 54.81 crore in the corresponding quarter a year ago.

Steel Authority of India Ltd: Stocks of the company closed 4.18 per cent down at Rs 38.95 after it reported a standalone net loss of Rs 1,528.73 crore for the third quarter ended December 31, on lower income.

Bharat Forge: Stocks of the company closed 1.33 per cent up at Rs 780 after the auto component maker reported a decline of 15.37 per cent in standalone net profit to Rs 166.16 crore for the third quarter ended December 31.

Punjab National Bank: Shares of the country’s second-largest public sector bank by assets settled 6.89 per cent down at Rs 87.85 after it reported a 93.41 per cent decline in net profit at Rs 51.01 crore for the third quarter ended December 31, on account of higher provisioning for bad loans.

Motherson Sumi: Shares of the company settled 11.07 per cent down at Rs 241.40 after the auto component maker reported 20.90 per cent increase in consolidated net profit at Rs 307.35 crore in the first quarter ended December 31.

Hindalco: Shares of the aluminium producer company were trading 1.36 per cent down at Rs 68.75 (11.18 am) ahead of its third quarter results.

IT stocks: The BSE Information Technology index ended 3.40 per cent down at 10,604.47 on Tuesday after the Nasdaq-listed Cognizant Technology Solutions, a IT service provider issued a weak sales forecast. Cognizant, whose rivals include Indian IT services firms such as Tata Consultancy Services and Infosys Ltd said the financial services sector was off to a slow start this year. Shares of IT majors Infosys and Tata Consultancy Services closed 3.46 per cent down at Rs 1109.30 and 3.68 per cent down at Rs 2281.45, respectively. Take Solutions and Tech Mahindra settled 6.12 per cent down at Rs 145.85 and 4.89 per cent down at Rs 447.65, respectively.

Strides Shasun: Stocks of the drug company ended 6.85 per cent down at Rs 1,031.50 after it acquired controlling stakes in Kenya’s Universal Corporation and Australia-based Generic Partners Holdings in a bid to strengthen its business in these regions. The company on Monday reported a net profit of Rs 58.81 crore for the third quarter ended December 31, has inked a definite agreement to acquire 51 per cent stake in Universal Corporation for a total consideration of $14 million.

Tata Motors: Stocks of the company closed 4.12 per cent down at Rs 310.60 after it on Monday said a lockout has been declared at the Dharwad plant of one of its subsidiaries, Tata Marcopolo Motors, following “illegal strike” by workmen over wage negotiations.

JK Tyres & Industries: Stocks of the company settled 2.57 per cent down at Rs 87.10 as the company reported 20.5 per cent increase in consolidated net profit at Rs 110.64 crore for the third quarter ended December 31, 2015.

 

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