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  1. Tata Motors, GMR Infrastructure among 8 stocks that remained in focus in Monday’s trade

Tata Motors, GMR Infrastructure among 8 stocks that remained in focus in Monday’s trade

Zee Entertainment shares closed 4.32 per cent up at Rs 529.50 after CNBC TV18 reported that the company will sell its stake in Ten Sports to Sony for about Rs 2,000 crore.

By: | Updated: August 29, 2016 4:45 PM
Stocks in focus Zee Entertainment shares closed 4.32 per cent up at Rs 529.50 after CNBC TV18 reported that the company will sell its stake in Ten Sports to Sony for about Rs 2,000 crore.

The BSE Sensex and NSE Nifty ended the volatile trade after making a cautious start following late buying in blue chip companies. Sensex advanced 120.41 points to end at 27,902.66, while NSE Nifty closed 34.90 points up at 8,607.45.

Below are the 8 stocks remained in focus in Monday’s trade

Zee Entertainment: Shares of the company closed 4.32 per cent up at Rs 529.50 after CNBC TV18 reported that the company will sell its stake in Ten Sports to Sony for about Rs 2,000 crore. Zee has bought 50 per cent stake in Ten Sports at enterprise value of $114 mn in 2006. The deal is likely to be announced this week, the report said.

Tata Motors: Stocks of the company ended 4.18 per cent up at Rs 524.70 despite it reporting a 57 per cent fall in consolidated net profit at Rs 2,260.40 crore for the first quarter ended June 30 as against a consolidated profit of Rs 5,254.23 crore in the same period last fiscal.

Indian Oil Corporation: Stocks of public sector company ended 0.32 per cent down at 571.95 after its net profit for April-June quarter jumped 25 per cent at Rs 8,268.98 crore as compared to Rs 6,590.83 crore in the same period a year ago.

Claris Lifesciences: Stocks of the company ended 6.15 per cent down at Rs 255.05  despite the drug company and its subsidiaries has received an Abbreviated New Drug Application (ANDA) approval for Flumazenil Injection USP, 0.5mg/mL and 1mg/10mL multiple dose vials, in the United States of America. The ANDA approval has come for the same plant where the FDA had recently completed their Prior Approval Inspection (PAI).

GMR Infrastructure: Stocks of the infra company settled 1.60 per cent up at Rs 13.30 as its subsidiary — GMR Airports (GAL) — has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa. The concession period for the Greenfield project will be 40 years with a possible extension of another 20 years through a bid process.

Larsen & Toubro: Stocks of engineering and construction major ended 1.99 per cent up at Rs 1456.20 as it plans to double its annual revenue to Rs 2 lakh crore by 2021. This is to be done without compromising on its margins.

JSW Steel: The Sajjan Jindal-controlled company has committed an investment of Rs 50,000 crore in Odisha for a 10-million-tonne steel project. JSW Steel will set up a 10-million-tonne steel plant in Odisha at an estimated investment of Rs 50,000 crore. The scrip settled the day 0.93 per cent up at Rs 1769.85.

Pratibha Industries: Stocks of the company ended 4.88 per cent down at Rs 21.45 after it reported a consolidated net loss of Rs 30.15 crore for the quarter ended June 30 as compared to net profit of Rs 16.45 crore in the similar quarter of 2015-16.

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