Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

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Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others
BCCL
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Indian stock market indices opened higher on Monday, as hopes of a US fiscal package and expectations of a COVID-19 vaccine by the end of this year kept investors optimistic globally.

The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 am.

Here’s a list of the top losers and gainers in the Nifty pack.
Top Nifty GainersTop Nifty Losers
ONGCDivis Lab
Axis BankUPL
HDFCTCS
NTPCGrasim
ICICI BankCipla
*as of October 19, 09:50 am

These are the top stocks in news today.

Dewan Housing Finance Corporation (DHFL) leaps 10%

The shares of DHFL were trading 10% after news reports surfaced that Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-headquartered SC Lowy are the four entities that have placed bids for the first financial services player DHFL, which is undergoing an insolvency process.
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Jet Airways locked in 5% upper circuit

The shares of cash strapped Jet Airways were locked in a 5% upper circuit in minutes after market opening as the company secured new owners. The airline-approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan to acquire the business.

Tata Communications locked in 5% upper circuit

The shares of Tata Communications were locked in 5% upper circuit after it reported around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. Its consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter.

Avenue Supermarts gains over 3%

Radhakishan Damani-led, D-Mart retail chain operator, Avenue Supermarts gained over 3% on Monday. The rally came after the saw its profit grow five-fold compared to the sequential quarter amid easing of lockdown restrictions. However, the profit growth was 38.5% down compared to the same period last year.
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HDFC Bank opens 2% higher

The shares of India’s largest private sector lender, HDFC Bank opened 2% higher on Monday. The bank reported an 18.4% year-on-year (y-o-y) growth in profit at ₹7,513.11 crore for the quarter ended September 30.

DLF up over 2%

The shares of commercial real estate developer, DLF gained over 2% after its rental arm DCCDL has raised ₹2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans.

SEE ALSO: 20 charts that explain why Indian Americans are more likely to vote for Joe Biden in the 2020 US Presidential Election

Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others

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