Indian stock market indices were trading largely flat on Monday in a volatile session. At 11:17 am, the benchmark BSE Sensex was trading down 17.13 points, or 0.04%, at 41,240.61, while the Nifty 50 index fell 13.95 points, or 0.1%, to 12,099.50. LIC Housing Finance, Bharti Airtel, Vodafone Idea, Glenmark Pharma, ONGC and Sun TV were among the key stocks in news today. Read on to know more:
LIC Housing Finance: LIC Housing Finance Ltd shares plunged nearly 15% after media reports said that Life Insurance Corporation of India (LIC) may expedite the process of merging the housing finance arm with IDBI Bank Ltd.
Bharti Airtel: Bharti Airtel Ltd shares fell 1.5% after the telecom operator said it will deposit Rs 10,000 crore as part payment of AGR dues by 20 February and the balance before 17 March.
Vodafone Idea: Vodafone Idea Ltd shares advanced over 23% after the telecom operator on Saturday said that was in the process of assessing AGR dues it owes to the DoT and proposes to pay them in the next few days.
Glenmark Pharma: Glenmark Pharmaceuticals Ltd shares dived 8.4% even as the company’s consolidated net profit jumped 64.1% to Rs 190.8 crore in the December quarter compared with a year ago.
ONGC: Oil and Natural Gas Corp. Ltd (ONGC) shares were down 3.9% after Q3 net profit fell 33.7% to Rs 4,151.6 crore compared with the previous quarter.
Sun TV: Sun TV Network Ltd shares dipped 6.3% after Q3 net profit inched up 6.3% to Rs 373.5 crore versus Rs 351 crore a year ago.
Cipla: Cipla Ltd shares dropped 3.5% after reports that the company got approval from the US Food and Drug Administration (FDA) for the Deferasirox drug.
Alkem Labs: Alkem Laboratories Ltd shares declined over 4% even as the firm got the USFDA nod for hypertension drug Chlorthalidon.
RITES: RITES Ltd shares jumped 2.6% after the company emerged as a successful bidder for supply of locomotives, coaches worth Rs 680 crore.
Hero MotoCorp: Hero MotoCorp Ltd shares shed 3.7% after the company launched BS-VI Splendor+ at prices starting Rs 59,600.
Indiabulls Housing Finance: Indiabulls Housing Finance Ltd shares lost 3.8% after CARE Ratings revised the long-term rating to “CARE AA” with stable outlook.
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Source: News18