Indian stock markets extended gains on Thursday on positive global cues and better-than-expected September quarter earnings reported by companies. The Sensex hit a fresh high of 40,344.99, while the Nifty held above the 11,900 mark.
Infosys, Vodafone Idea, Bharti Airtel, Quess Corp, Dhanlaxmi Bank, IOC and United Bank were among the key stocks in news today. Read on to know more:
Infosys: Infosys Ltd shares climbed 5.3% as analysts are now saying that fears about wrongdoing at the company as alleged in the whistleblower complaint could’ve been overdone.
Vodafone Idea: Vodafone Idea Ltd shares tumbled 13% after Care Ratings (CARE) downgraded its rating on long-term bank facilities and non-convertible debentures to CARE A-.
Bharti Airtel: Bharti Airtel Ltd shares recovered from the day’s low to inch 0.5% higher after Fitch placed the company on ‘Rating Watch Negative’ on Supreme Court ruling in the AGR case.
Quess Corp: Quess Corp Ltd shares advanced nearly 17% after net profit rose 5% year-on-year to Rs 65.03 crore in the September quarter, while revenue climbed 26% to Rs 2,666.2 crore.
Dhanlaxmi Bank, IOC: Dhanlaxmi Bank Ltd shares surged over 12%, while those of Indian Oil Corp. Ltd (IOC) were trading flat ahead of their earnings announcements for the September quarter later in the day. Other companies to announce Q2 results include Blue Dart Express, Jindal Saw, Laurus Labs, Syndicate Bank, Vaibhav Global among others.
United Bank: United Bank of India shares shot up 17% after surging 20% in the previous session as the bank reported a profit of Rs 124 crore the September quarter compared with a loss of Rs 883.2 crore in the same period last year.
JK Tyre: JK Tyre and Industries Ltd shares surged 14% after the company reported over three-fold jump in consolidated net profit to Rs 167.70 crore in the September quarter.
Bandhan Bank: Bandhan Bank Ltd shares rose 2% after Housing Development Finance Corp. Ltd (HDFC) acquired 9.89% stake in the lender as part of scheme of merger.
TVS Motor: TVS Motor Co. Ltd shares were up 1.8% after the company partnered with Cadisa in Guatmala, El Salvador to open flagship TVS outlets.
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