Indian stocks recovered on Monday after witnessing a sharp correction in the previous session on the back of positive global cues. At 11:25 am, the benchmark BSE Sensex was trading up 584.13 points, or 1.53%, to 38,881.42, while the Nifty 50 rose 165.20 points, or 1.47%, to 11,366.95. Indiabulls Housing, RIL, Bharti Airtel, Escorts, DMart, Affle India and IRB Infra were among the key stocks in news today. Read on to know more:
Indiabulls Housing Finance: Shares of Indiabulls Housing Finance surged nearly 25% after the Reserve Bank of India (RBI) in an affidavit to the court said the company has not violated any law in its lending practices.
RIL, Alok Industries: Reliance Industries Ltd (RIL) shares jumped 3% while those of Alok Industries Ltd were locked in a lower circuit of 5% after RIL acquired 37.7% stake in the textile manufacturer for Rs 250 crore.
Bharti Airtel: Bharti Airtel Ltd shares jumped 2.4% after the telecom company paid Rs 8,004 crore to the Department of Telecommunications in the AGR (adjusted gross revenue) matter.
Escorts: Escorts Ltd shares surged 10.7% after the company’s agri machinery segment in February 2020 sold 8,601 tractors against 7,240 tractors sold in February 2019, growth of 18.8%.
DMart: Shares of Avenue Supermarts, operator of DMart chain of stores in India, dropped 4.5% after the stock was moved into the Trade-to-Trade or ‘T’ Segment where traders cannot buy and sell it on the same day.
Affle India: Affle India Ltd shares advanced over 8% after the company signed definitive agreement to acquire Mediasmart.
IRB Infra: IRB Infrastructure Developers Ltd shares gained 4.4% after the company began toll collection on expressway and NH-48 section of the Mumbai-Pune Project.
Coal India: Coal India Ltd shares advanced 3.9% after February production rose 14.2% to 66.26 million tonnes versus 58.05 million tonnes a year ago.
MOIL: Moil Ltd shares climbed nearly 6.5% after the company cut prices of chemical grades by 5% and Balaghat Fines by 10%.
Eicher Motors: Eicher Motors Ltd shares were up 3.4% after February total commercial vehicles sales fell 29.2% to 4,439 units versus 6,268 units a year ago.
(Disclaimer: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited)
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