Indian stock markets extended gains for a second day on Friday after rising over 1.7% in the previous session. At 12:27pm, the S&P BSE Sensex was trading higher by 384 points, or 1%, at 37,711.65, while the Nifty 50 index rose 125 points, or 1.1%, to 11,157.35. Yes Bank, NBCC (India), Indiabulls Housing Finance, UltraTech Cement, Page Industries, Coffee Day Enterprises and DHFL were among the key stocks in focus today. Read on to know more:
Yes Bank: Yes Bank Ltd shares dropped 3.4% after the lender informed stock exchanges that it was is in the process of appointing new chief financial officer (CFO), chief compliance officer (CCO) and chief operating officer. The lender also launched its qualified institutional placement (QIP) offer on Thursday at a floor price of Rs 87.90.
NBCC: NBCC (India) Ltd shares dived over 14% after the company said its net profit in the June quarter declined 39% year-on-year to Rs 51 crore against Rs 82.85 crore in the year-ago period.
Ultratech Cement: Ultratech Cement Ltd shares gained 3.5% a day after the company said its standalone net profit in the June quarter more than doubled to Rs 1,198.70 crore from the year-ago period.
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares jumped 13% after Indiabulls founder Sameer Gehlaut promised RBI that he will relinquish all control and rights, have no say in the management, and bring the promoter group shareholding below 10% in the proposed bank to be formed after the merger of Indiabulls Housing Finance with Lakshmi Vilas Bank.
Page Industries: Page Industries Ltd shares lost 5.5% after the company said net profit for the June quarter fell 11% to Rs 110.6 crore against Rs 124.4 crore a year ago. The company’s revenue grew by a tepid 2.4% to Rs 835 crore against Rs 815.3 crore in the same quarter last year.
DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares surged 11% after the company in an update to stock exchanges said it was working towards resolving its liquidity crisis in a comprehensive and timely manner, even as it may fail to meet its immediate payment obligations.
Coffee Day Enterprises: Coffee Day Enterprises Ltd shares fell by another 5% after the company appointed Ernst and Young to probe statements in late V.G. Siddhartha’s letter which he wrote before his death, along with the financials of the company’s units.
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Source: News18