- Indian stock market indices opened in red on Thursday tracking sell-off in global markets.
- The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points.
- These are the top stocks that are buzzing the D-street today.
- Check out the latest news and updates on Business Insider.
Indian stock market indices, Sensex tumbled over 300 points in early trade on Thursday tracking the sell-off in global markets after the US Fed's gloomy economic outlook spooked investors.
The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points.
ICICI Bank was the top loser in the Sensex pack, shedding around 2%, followed by IndusInd Bank, HDFC, ITC, Asian Paints and Titan.
On the other hand, NTPC, PowerGrid, Sun Pharma and Infosys were among the gainers.
These are the top stocks that are buzzing the D-street today.
Ruchi Soya dives 2% post Q1 earnings Patanjali Group firm Ruchi Soya shares declined 2% during the early trading hours on Thursday. The company reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30.
It also announced the resignation of Acharya Balkrishna as managing director of the company. Ram Bharat, Baba Ramdev’s younger brother, will replace Balkrishna.
Muthoot Finance decline 5% Shares of one of the largest NBFC gold loan lenders declined 5% during the trade hours on August 20. Although the company posted a 59% rise in standalone net profit in the June quarter, the inventors were cautious about sustainable growth.
According to reports, the recent surge in gold loans is because people are struggling to pay the dues as the pandemic impacted pockets. Therefore, the growth rates could peter out in the coming quarters.
IRCTC lost over 1% during the morning trade Shares of partly state-owned hospitality company IRCTC shares declined nearly 1% after news surfaced that the government is looking to reduce its shareholding via an offer of sale.
According to reports, The department of investment and public asset management (Dipam) has invited bids from merchant bankers and brokers. It aims to divest part of the government’s shareholding of 87.4% in the IRCTC, which was listed on the bourses last year.
Tata Power gained over 4%
Tata Power share soared 4% after the company said after launching its renewable energy InvIT this fiscal year, it would also explore merger and acquisition opportunities to strengthen its position in this space.
HAL shares declined over 3%
HAL lost nearly 3% during the morning trade hours after
news reports surfaced that Centre is planning to sell 5% stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale.
As of now, the central government owns a 90% stake in HAL, and it is expected to rake in up to ₹2,000 crore.
DLF gained over 2%
Realty major DLF gained over 2% during the morning trade after the US-based property player Hines secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram.
“The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said.
PNB Housing Finance up nearly 3% PNB Housing Finance shares gained nearly 3% after its board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue.
Yes Bank and CG power gains nearly 3% and 5%, respectively Yes Bank shares were up 3% after the company exited CG Power & Industrial Solutions Ltd (CG Power) by selling its entire stake-holding in the company. Whereas on the other hand CG Power also gained 5%.
Yes Bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing.
SEE ALSO: Swiggy ran a massive ‘thank you’ campaign for its delivery heroes – two months later, those heroes are protesting against reduced pay and slashed incentives
Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more
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