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IDBI Bank, Tata Motors, HEG, Yes Bank, R-Cap Among Key Stocks Today

Indian stock markets were trading with modest losses on Thursday, i.e. 16 August. At 11:07 am, the benchmark S&P BSE Sensex was trading at 37,219.79, down 91.74, or 0.25%. The Nifty 50 index slipped 29.15 points, or 0.26%, to 11,000.25. IDBI Bank, Tata Motors, HEG, Yes Bank, Reliance capital (R-Cap) and Indiabulls Housing Finance were among the key stocks in news today. Read on to know more:

IDBI Bank: IDBI Bank Ltd shares plunged 12% after the lender posted loss of Rs 3,800.84 crore in the June quarter against loss of Rs 2,409.89 crore a year ago. Gross NPA also rose to 29.12% against 27.47% in the previous quarter.

Tata Motors: Tata Motors Ltd shares fell 2.7% as Crisil downgraded its long-term rating to AA-/Negative from AA/Negative, citing weakening of outlook on the business risk profile of JLR.

Yes Bank: Yes Bank Ltd shares gained 3.2% after the lender set an issue price of Rs 83.55 per share for the qualified institutional placement (QIP) offering.

HEG Q1: HEG Ltd shares slumped 8% after the company’s consolidated profit fell 68.6% to Rs 243.5 crore in the June quarter versus Rs 775.7 crore a year ago, while revenue dipped 48.6% to Rs 816.5 crore versus Rs 1,587.4.

Reliance Capital: Reliance Capital Ltd (R-Cap) shares shot up 12% as consolidated profit jumped to Rs 1,233 crore in the June quarter versus Rs 272 crore a year ago, while revenue rose to Rs 6,069 crore versus Rs 4,619 crore.

Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares lost nearly 10% after Moody’s downgraded the company’s long-term corporate family ratings to Ba2 from Ba1 and changed the outlook to negative.

Jain Irrigation: Jain Irrigation Systems Ltd declined 6% after its consolidated profit fell to Rs 22.08 crore in the June quarter versus Rs 81.75 crore a year ago, while revenue dipped to Rs 1,891.32 crore versus Rs 2,061.07 crore.

Indraprastha Gas: Indraprastha Gas Ltd shares fell 4.5% as profit declined 3.2% to Rs 218.4 crore in the June quarter versus Rs 225.5 crore in the previous quarter, while revenue rose 2.5% to Rs 1,576.1 crore versus Rs 1,542.7 crore.

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Source: News18