Indian stock markets erased initial losses to trade in the positive zone on Tuesday, i.e. August 12, as trading resumed after a three-day long break. At 10:45 am, the S&P BSE Sensex was up 27 points, or 0.07%, to 37,608.68, while the Nifty inched up 9 points, or 0.08%, to 11,118.70. Reliance Industries, Tata Motors, Coal India, BHEL, Jet Airways, Motherson Sumi and Reliance Capital were among the key stocks in focus today:
RIL: Reliance Industries Ltd soared 12% after chairman Mukesh Ambani made several important announcements, including Saudi Aramco’s investment in RIL’s oil-to-chemicals division, during the company’s 42nd annual general meeting (AGM) in Mumbai.
Tata Motors: Tata Motors Ltd shares jumped 3% after JLR July retail sales rose 5% to 37,945 units as China sales saw a recovery during the month.
BHEL: Bharat Heavy Electricals Ltd (BHEL) shares lost over 5% after the company reported loss of Rs 217.7 crore in the June quarter against profit of Rs 40.7 crore a year ago, while revenue fell 23.7% to Rs 4,532.5 crore versus Rs 5,942 crore.
Jet Airways: Jet Airways (India) Ltd shares were locked in a 5% lower circuit as Anil Agarwal’s family trust Volcan Investments withdrew the expression of interest for the airline a day after showing interest.
Motherson Sumi: Motherson Sumi Ltd shares plunged 7.7% as consolidated net profit declined 25.2% to Rs 331.5 crore in the June quarter versus Rs 443.1 crore a year ago, while revenue rose 13.7% to Rs 16,792.5 crore versus Rs 14,775.5 crore.
Reliance Capital: Reliance Capital Ltd gained 5% as the company announced it is all set to file a Rs 10,000 crore defamation suit against its erstwhile auditor Price Waterhouse and Co (PwC).
Reliance Power: Reliance Power Ltd jumped 4.5% even as the company reported 80% decline in its consolidated net profit in the June quarter due to lower revenue.
Coal India: Coal India Ltd (CIL) shares rose over 1% ahead of the company’s earnings announcement later in the day.
NHPC: NHPC Ltd shares gained 3.6% after consolidated profit rose 16.2% to Rs 989.3 crore in the June quarter versus Rs 851.7 crore a year ago, while revenue climbed 12.5% to Rs 2,610 crore versus Rs 2,319.4 crore.
BPCL: Bharat Petroleum Corp. Ltd (BPCL) shares jumped 3.3% even as profit fell 65.6% to Rs 1,075 crore in the June quarter versus Rs 3,124.9 crore in the previous quarter, while revenue rose 3.1% to Rs 76,318 crore versus Rs 73,990 crore.
SAIL: Steel Authority of India Ltd (SAIL) shares were down 2.2% as net profit fell 87.3% to Rs 68.8 crore versus Rs 540.4 crore a year ago, while revenue declined 6.8% to Rs 14,820 crore versus Rs 15,907.2 crore.
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Source: News18