Escorts Ltd share price ended 17.39 per cent up at Rs 305.10 after it announced the divestment of its OEM and export business of Auto Product division to Badve Engineering Ltd in an all cash deal.
The BSE Sensex and NSE Nifty closed higher on Thursday on heavy buying by foreign investors in blue chip companies amid mixed Asian cues. Sensex ended 84.72 points up at 27,859.60, while NSE Nifty settled 16.85 points up at 8,592.15.
Below are the 10 stocks that grabbed investors’ attention in Thursday’s trade
IDBI Bank: Shares of the public sector universal bank closed 2.10 per cent up at Rs 68.15 Thursday after the company reported its earnings for first quarter ended June 30, 2016.The company posted 78.35 per cent rise in its net profit at Rs 241.1 crore for the quarter as compared to Rs 135.18 crore for the same quarter in the previous year. Company’s total income rose by 4 per cent at Rs 8219.43 crore for quarter under review as compared to Rs 7903.37 crore for the quarter ended June 30, 2015.
Godrej Properties Ltd: Stocks of the company ended 1.24 per cent down at Rs 361.30 after it posted a net loss of Rs 33.81 crore for the quarter compared to net profit of Rs 12.01 crore for the same quarter in the previous year. Total income of the company decreased by 4.23 per cent at Rs 338.29 crore for quarter under review as compared to Rs 353.24 crore for the quarter ended June 30, 2015.
Tata Chemicals: Stocks of the company were trading 0.08 per cent up at Rs 504 (9.19 am) as it has decided to sell its urea business to Yara Fertilisers India Pvt Ltd for Rs 2,670 crore. Later, the scrip settled the day 1.36 per cent down at Rs 496.75.
Bank of Baroda: Stocks of the public sector bank settled 8.95 per cent down at Rs 145.95 after its June quarter net profit fell 59.74 per cent yoy to Rs 423.62 cr, while the company’s net NPAs registered at 5.73% vs 5.06% QoQ.
Indian Hotels Co: Stocks of Tata group hospitality company ended 1.57 per cent up at Rs 129 after its registered standalone net loss of Rs 9 crore for the first quarter ended June 30, 2016 as compared to net loss of Rs 4.81 crore in the same quarter previous fiscal.
GAIL: Stocks of the company ended 1.07 per cent down at Rs 371.15 after it placed orders for purchase of 315 km steel pipes to carry fuel to shut fertiliser plants in Bihar.
Escorts Ltd: Share price of the company ended 17.39 per cent up at Rs 305.10 after it announced the divestment of its OEM and export business of Auto Product division to Badve Engineering Ltd in an all cash deal. The move is part of the planned strategic reorientation of the business to focus on core verticals in the agri-machinery, construction equipment and railway equipment.
Dilip Buildcon: Share price of the company that made a debut on bourses today closed at Rs 250.95 on BSE and at Rs 254.10 on NSE. It listed at Rs 240, up 9.59 per cent, against the issue price of Rs 219.
Sun Pharmaceutical Industries: Shares closed ended 1.03 per cent down at Rs 808.90 after its US subsidiary Taro Pharmaceutical reported 6 per cent rise in net income to $109.89 million for the quarter ended June 30, 2016 against $103.64 million in the corresponding quarter a year ago.
Grasim Industries: Stocks of the company ended 6.44 per cent down at Rs 4538.95 after media reports that Aditya Birla Group is planning a merger of Grasim and parts of Aditya Birla Nuvo.