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  1. Stocks in news today: IDFC, HCL Technologies, Suven Life Sciences and more

Stocks in news today: IDFC, HCL Technologies, Suven Life Sciences and more

HCL Technologies remained under pressure throughout the day after the company gave a weak pre-quarter guidance for the first quarter ended September 2016.

By: | Updated: October 1, 2015 4:57 PM
bse sensex

Stocks of HCL Technologies will be in focus as the company on Wednesday warned of tepid revenue growth for the September quarter.

The BSE Sensex and NSE Nifty, trimming most of their initial gains, ended Thursday’s trade with marginal gains and extended their winning streak to third straight session. Sensex closed 66.12 points up at 26,220.95. Nifty closed 2 points up at 7,590.90.

Below are some stocks that made news:

IDFC: Shares of infra major IDFC nosedived on Thursday following the demerger of IDFC with IDFC Bank. IDFC was down more than 57% on NSE intraday. IDFC Bank, which started functioning as a full fledged bank from Thursday with over 20 branches, will get get listed separately later.

HCL Technologies: HCL Technologies remained under pressure throughout the day after the company gave a weak pre-quarter guidance for the first quarter ended September 2016 (1QFY2016), which indicated that revenues to be reported in US dollar will have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar. The IT major follows July-June as the financial year. The share price of HCL Tech closed 12.65 per cent down at Rs 857.90.

Mahindra & Mahindra (M&M): The company reported its auto sales numbers which stood at 42,848 units during September 2015 as against 44,911 units during September 2014, registering a fall of 5 per cent. The share price of M&M closed 0.44 per cent down at Rs 1,255.15.

Maruti Suzuki India: Domestic passenger vehicle sales growth for the country’s largest car-maker Maruti Suzuki India slowed down to 6.8 per cent in September against 8.62 per cent in August and 22.5 per cent  in July this year. The company sold 1,06,083 units of passenger vehicles in the Indian market against 99,290 units in September last year. The share price of Maruti closed 2.33 per cent down at Rs 4,579.85.

Suven Life Sciences: The company informed BSE that it has secured one product patent from New Zealand, one product patent from Singapore and one product patent from USA corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032. Shares Suven Life Sciences advanced 7.11 per cent to Rs 286.25 on Thursday.

 

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