Indian stocks opened higher in trade on Thursday on strong Asian markets. At 10:44 am, the S&P BSE Sensex rose 150.57 points, or 0.39%, to 38,707.61, while the Nifty 50 index was up 48.75 points, or 0.42%, to 11,547.65. InterGlobe Aviation, Aurobindo Pharma, GTPL Hathway and Religare Enterprises were among the key stocks in focus on 11 July.
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InterGlobe Aviation: Shares of InterGlobe Aviation Ltd, that runs India’s largest airline IndiGo, tumbled as much as 9% after falling 10% in the previous session on news that the government will scrutinize a disputed shareholder pact between the two co-founders, Rakesh Gangwal and Rahul Bhatia.
Aurobindo Pharma: Aurobindo Pharma shares jumped over 4% as the company launched generic of Sensipar tablets in the US market. The drug had an annual sale of approximately $1,449 million.
GTPL Hathway: GTPL Hathway Ltd shares shot up 20% after the company’s consolidated profit rose to Rs 29.45 crore in the June quarter compared with Rs 13.37 crore a year ago. Revenue also jumped to Rs 445.5 crore in Q1 versus Rs 296.9 crore in the year-ago quarter.
Himachal Futuristic Communications: Himachal Futuristic Communications Ltd shares gained 10% after profit surged 148% to Rs 117 crore in Q1 versus Rs 47 crore a year ago. Revenue jumped 23% to Rs 1,343 crore compared with Rs 1,088 crore a year ago.
Sun Pharma: Sun Pharmaceutical industries Ltd shares rose 1.5% after the company got the US FDA approval for Risedronate Sodium tablets.
Religare Enterprises: Shares of Religare Enterprises surged 10% after the company announced plan to sell its subsidiary, Religare Finvest, to TCG advisory for an undisclosed amount.
Piramal Enterprises: Piramal Enterprises Ltd shares jumped 2.5% after its board approved raising up to Rs 1,500 crore via non-convertible debentures.
Cox and Kings: Cox and Kings Ltd shares were locked in a 5% lower circuit after the company defaulted on payment worth Rs 125 crore with respect to commercial papers due on 9 July.
IFCI: IFCI Ltd shares declined 3% after credit ratings agency Brickwork downgraded rating on long- term debt instruments NCD/bonds to BBB+ with negative outlook from A- with stable outlook.
Can Fin Homes: Can Fin Homes Ltd shares rose 1% after the company said it will consider raising up to Rs 6,000 crore via debt on 22 July.
Source: News18