Indian stocks continued to trade in the positive territory on a third consecutive day on Wednesday taking cues from strong Asian markets as concerns over coronavirus outbreak begin to settle down. At 10:35 am, the benchmark BSE Sensex jumped 204.25 points, or 0.5%, to 40,993.63, while the Nifty 50 index was up 65.90 points, or 0.55%, to 12,045.55. Bharti Airtel, TVS Motor, Tata Global, CSB Bank, Adani Enterprises and DLF were among the key stocks in news today. Read on to know more:
Bharti Airtel: Bharti Airtel Ltd shares gained 1.9% as the company narrowed its Q3 loss to Rs 1,035 crore versus a loss of Rs 23,044.9 crore in the previous quarter.
TVS Motor: TVS Motor Co. Ltd shares soared 6% even as the company reported a 20.7% year-on-year decline in consolidated net profit at Rs 156.84 crore for the December quarter.
Tata Global Beverages: Tata Global Beverages Ltd shares climbed 7.4% after the company’s Q3 profit jumped 21.4% to Rs 120.6 crore compared with a year ago.
CSB Bank: CSB Bank Ltd shares climbed 6.3% after the lender reported a net profit of Rs 28.14 crore for the December quarter compared with a profit of Rs 74 lakh a year ago.
Adani Enterprises, DLF: Adani Enterprises Ltd shares rose 1.3%, while those of DLF jumped 3% ahead of the announcement of their earnings for third quarter ended December (Q3). Other major companies to announce results today include Andhra Bank, Adani Gas, Apollo Tyres, Berger Paints, Bosch, Cipla, Hindustan Petroleum Corp. Ltd and Indiabulls Housing Finance.
IEX: Indian Energy Exchange Ltd (IEX) shares advanced 4.8% after Nippon India Mutual Fund bought 77 lakh shares of the company for Rs 128.2 crore through two bulk deals on NSE on Tuesday.
IFCI: IFCI Ltd shares were up 2.5% as the company completed stake sale of the National Stock Exchange of India (NSE) and further received an amount of approximately Rs 178.65 crore.
Sun Pharma: Sun Pharmaceutical Industries Ltd shares rose 1.4% after the company launched Absorica LD capsules in the US for treatment of acne.
Reliance Power: Reliance Power Ltd shares dropped 3% after Yes Bank sold 169,48,801 shares of the company for Rs 2.8 crore in a bulk deal on NSE on Tuesday. Yes Bank shares were, meanwhile, down 2.6%.
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