Stocks erased initial gains to trade almost unchanged on Friday ahead of the earnings announcement of some key largecap companies. At 11:51 am, the benchmark BSE Sensex was trading at 41,941.45, up 8.89 points, or 0.02%, while the Nifty 50 index was down 3.65 points, or 0.03%, to 12,351.85. Bharti Airtel, Vodafone Idea, Yes Bank, RIL, TCS and HCL Technologies were among the key stocks in news today. Read on to know more:
Bharti Airtel, Vodafone Idea: Bharti Airtel Ltd shares gained 5% while those of Vodafone Idea slumped 39% after Trai data showed Bharti Airtel added 1.65 million users in November to end with 327.30 million users, or a 28.35% market share. Vodafone Idea, meanwhile, lost a record 36.41 million users in the same month, ending with a 29.12% market share.
Yes Bank: Yes Bank Ltd shares dived over 7% after Moody’s placed the bank’s long-term foreign-currency issuer rating of B2 under review, with the direction uncertain.
RIL, TCS, HCL Tech: Reliance Industries Ltd (RIL) shares jumped 2.2%, while those of Tata Consultancy Services (TCS) and HCL Technologies Ltd were trading flat ahead of the announcement of the results for the December quarter (Q3).
South Indian Bank: South Indian Bank Ltd shares were trading unchanged after the lender’s Q3 profit grew 8% to Rs 90.5 crore compared with a year ago, while net interest income (NII) rose 15.8% to Rs 601.8 crore. The board also approved raising Rs 500 crore via bonds.
Adani Enterprises: Adani Enterprises Ltd shares gained 3.5% even as CBI booked the company and two former officials of the National Cooperative Consumers’ Federation of India (NCCF) for alleged irregularities in the coal supply contract.
Wipro: Wipro Ltd shares rose 1.4% after Wipro Ventures announced $150 million Fund-II to invest in emerging digital enterprise software leaders.
GMR Infrastructure: GMR Infrastructure Ltd fell 1.9% even as the Supreme Court of India lifted suspension of the environment clearance on GMR Goa International Airport.
Dishman Carbogen: Dishman Carbogen Amcis Ltd shares dropped nearly 5% after the company approved buyback for an amount not exceeding Rs 72 crore.
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Source: News18