Indian stocks snapped 7-day losing streak to trade in the positive zone on Tuesday but were seen losing strength as the session progressed. At 10:36 am, the benchmark BSE Sensex was trading up 176.70 points, or 0.46%, at 38,320.72 after hitting an intra-day high of 38,715.86. Meanwhile, the Nifty 50 index rose 54.70 points, or 0.49%, to 11,187.45. Eicher Motors, Hero MotoCorp, Vodafone Idea, Yes Bank, Gujarat Gas, Mahanagar Gas, IGL and Gujarat Gas were among the key stocks in focus today. Read on to know more:
Eicher Motors: Eicher Motors Ltd shares zoomed nearly 5% after the company’s total 2-wheeler (Royal Enfield) sales rose 1% to 63,536 units in February 2020 as against 62,630 units in February 2019.
Hero MotoCorp: Hero MotoCorp Ltd shares jumped 3.5% even as February sales dropped 19.3% to 4.98 lakh units compared with a year ago.
Vodafone Idea: Vodafone Idea Ltd shares advanced 8.7% after a media report said that the telecom company is likely to pay around Rs 3,000 crore as spectrum dues this week for the airwaves it bought in the previous auctions.
Yes Bank: Yes Bank Ltd shares jumped 5.5% after a media report said that the Reserve Bank of India (RBI) may come to the lender’s rescue if it does not find an investor to bail it out of its present turmoil.
Gujarat Gas, Mahangar Gas, IGL: Gujarat Gas Ltd and Indraprastha Gas Ltd (IGL) shares jumped 4% each, while those of Mahanagar Gas Ltd soared 6.8% after foreign research house Jefferies maintained its bullish view on the stocks of gas distribution companies.
Mahindra Lifespace: Mahindra Lifespace Developers Ltd shares gained over 4% after the company’s arm Mahindra World City got the nod for partial de-notification of the notified area under SEZ.
Parag Milk Foods: Parag Milk Foods Ltd shares climbed 6.8% after the company said it would release entire pledged shares from Kotak Mahindra Investments within 90 days.
DB Realty: DB Realty Ltd shares advanced 4.4% even as the company defaulted on payment of interest/repayment of principal amount on loans worth Rs 80 crore from HDFC Bank.
Ajanta Pharma: Ajanta Pharma Ltd shares rose 2.9% after a media report said that the company got the USFDA nod for anti-migraine and epilepsy drug Divalproex Sodium.
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