After beginning on a strong note on Monday, the BSE Sensex and NSE Nifty ended lower following selling pressure in index heavyweights. Sensex settled 89.84 points down at 27,746.66, while NSE Nifty settled 32.70 points down at 8,508.70.
Below are the 9 stocks that hogged limelight in Monday’s trade
Reliance Industries: Shares of the company ended 0.82 per cent down at Rs 1004.25 despite reporting a better-than-expected 18 per cent jump in June quarter profit.
HUL: Stocks of the FMCG major ended 2.04 per cent down at Rs 920.45 after it posted an increase of 9.8 per cent in standalone net profit to Rs 1,173.90 crore for the first quarter ended June 30.
Sun Pharma Advanced Research Company (SPARC): Stocks of the company settled 1.54 per cent up at Rs 355.05 as it entered into a licensing deal with parent Sun Pharma for Elepsia tablets in the US for upfront payment of $10 million.
Bharti Airtel and Idea Cellular: Shares of the telecom majors slumped after they slashed their data tariffs, contributing to the stock markets fall with the BSE Telecom index slumping 3.23 per cent. Idea Cellular shares closed 6.52 per cent down at Rs 103.90. Bharti Airtel shares closed 3.98 per cent down at Rs 363.45 .
Axis Bank and IDFC Bank: The Reserve Bank of India has allowed foreign institutional investors to increase their stakes in Axis Bank and IDFC Bank to up to 74 per cent and 46 per cent, respectively. Stocks of Axis Bank closed 0.94 per cent up at Rs 570.05 and IDFC Bank shares ended 1.07 per cent up at Rs 52.05.
ONGC and Oil India: Shares of ONGC and Oil India traded lower after Financial Express reported that these companies may face an additional royalty burden of more than $1 billion as Narendra Modi government has decided that royalty should be paid to crude oil-producing states such as Assam, Gujarat, Andhra Pradesh, Rajasthan and Tamil Nadu at ‘pre-discount’ rates. Scrip of ONGC closed 4.97 per cent down at Rs 219.00 and Oil India Ltd settled 2.85 per cent down at Rs 362.70.