The BSE Sensex and NSE Nifty extended their losses for sixth day in a row following global cues amid India’s manufacturing sector growth slipping further and touching a 22-month low in October.
Sensex ends 97.68 pts down at 26,559.15; Nifty falls 15 pts to settle at 8,050.80.
Larsen and Toubro: Larsen & Toubro share price fell as much as 2.5 per cent intraday after brokerage houses HSBC, Citi and Barclays downgraded rating of the engineering and construction major citing declined in new order growth and expensive valuations. Later, the share price closed 1.61 per cent down at Rs 1388.40.
Titan Company: Share price of the Tata Group firm declined as much as 5.36 per cent in the early trade on Monday after it reported 39.41 per cent decline in net profit at Rs 145.39 crore for the second quarter ended September 30. The stocks later wiped off its losses and closed 1.92 per cent up at Rs 355.40.
Coffee Day Enterprises: The operator of India’s biggest coffee chain made a weak debut on bourses. The scrip opened at Rs 313 on BSE and at Rs 317 on NSE against the issue price of Rs 328. The stock of Coffee Day Enterprises closed 17.68 per cent down at Rs 270.15 on BSE as compared to its issue price.
Maruti Suzuki: India’s largest car maker’s shares ended 1.05 per cent up at Rs 4495.35 after the company registered a rise of 29.10 per cent in its total car sales for the month of October 2015 at 134,209 units.
Bajaj Auto: The automaker’s shares plunged as much as 5 per cent in the morning trade on Monday after the company reported 9 per cent fall in sales for the month of October 2015 at 3,52,822 units as compared to 3,86,017 units sold in October 2014. Later, share price of the automaker closed 4.85 per cent down at Rs 2426.00.
Jet Airways: Jet Airways share price surged as much as 8.47 per cent on Monday after investor Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.52 crore through an open market transaction. The share price of the company closed 3.06 per cent up at Rs 450.05.
Indian Overseas Bank: The state-run bank slumped 15.5 per cent to touch a one-year low after the company reported a net loss of Rs 550.83 crore for the second quarter ended September 30. The share price of the bank later closed 11.29 per cent down at Rs 31.05.
Reliance Communications: Share price of the company closed 6.18 per cent up at Rs 79.90 after it announced the acquisition of Russian conglomerate Sistema’s Indian telecom unit in an all-stock deal that will create an operator with 118 million subscribers.
IDFC: Share price of IDFC plunged over 7 per cent after the company registered a net loss of Rs 1,468.83 crore on a consolidated basis for the September quarter. Later, the scrip closed 0.68 per cent down at Rs 58.40.
Dr Reddy’s Laboratories: The drug major’s shares closed 0.41 per cent up at Rs 4287.20 after it launched a pain relief spray under ‘Nise D Spray’ as part of its plans to bolster presence in Indian over-the-counter (OTC) market.
Indian Bank: Shares of the bank jumped over 6 per cent on Monday after the bank posted 17.49 per cent rise in its net profit at Rs 369.31 crore for the quarter ended September 30, 2015 as compared to Rs 314.33 crore for the same quarter in the previous year.