Top stock movers on Dalal Street on Monday— Eicher Motors, ICICI Lombard, Future Retail, RIL, TCS, and more

• Indian stock market indices opened in green on Monday.
• Sensex was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65
• These are the top stocks that are buzzing on D-street today.
• Check out the latest news and updates on Business Insider.

Indian stock market indices, Sensex jumped over 200 points in early trade on Monday, led by gains in financial stocks amid firm cues from global markets. The BSE index was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65.

Kotak Bank was the top gainer in the Sensex pack, rising around 4%, followed by Asian Paints, HDFC duo, Tata Steel, IndusInd Bank, ICICI Bank and SBI.

On the other hand, HCL Tech, Tech Mahindra, PowerGrid, Titan, Infosys and TCS were among the laggards.

Eicher Motors gains 8% on the stock split date

Eicher Motors gained over 8% as its stock split comes into effect from today. The board earlier approved a stock split of existing one equity share of the face value of ₹10 per share into ten equity shares of the face value of ₹1 each.

ICICI Lombard up over 1%

ICICI Lombard General Insurance gained nearly a percent during early trade hours on Monday after the company said it would acquire Bharti AXA General Insurance operations in a share swap deal.

The shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers.

Minda Industries down nearly 3%

Minda Industries shares slid nearly 3% after the company said it incurred a loss of ₹118.3 crore in the first quarter ended June 3. The revenue was down sharply from ₹1,439.7 crore to ₹417.1 crore in Q1.

Balaji Telefilms opens 4% higher

Balaji Telefilms shares gained nearly 4% after the government announced standard operating procedures (SOPs) for resuming shooting of films and TV programmes.

Future Retail down nearly 4%

The shares of Kishore Biyani-led Future Retail were down nearly 4% as the company faces a debt repayment deadline after missing an interest payment of $14 million in July. The 30-day grace period also ended on August 22.

Reliance Industries up over 1%

RIL gained nearly a percent after the company concluded amalgamation and merger amongst its wholly-owned subsidiaries Reliance Holdings USA into Reliance Energy Generation and Distribution. Merger entity Reliance Energy and Distribution has further merged into RIL.

Union Bank gains nearly 3%

Union Bank shares were up nearly 3% after the bank reported a 48.3% increase in net profit for the first quarter ended June 30. The bank’s total income grew by 101.2% YoY to ₹19,891.26 crore.

SEE ALSO: Top stocks to watch on Monday— Indiabulls Housing Finance, Future Enterprises, RIL, Tata Power, Dixon Tech, Rossari Biotech and more

Finance Minister Nirmala Sitharaman’s tribute to the late Arun Jaitley is also coming ahead of a tough GST Council meeting where states will ask for money