scorecard
  1. Home
  2. stock market
  3. news
  4. Top stock movers — ONGC, Future Retail, Bharti Infratel, Escorts, RIL, Airtel, Vodafone Idea, Biocon, L&T, BEML and more

Top stock movers — ONGC, Future Retail, Bharti Infratel, Escorts, RIL, Airtel, Vodafone Idea, Biocon, L&T, BEML and more

Top stock movers — ONGC, Future Retail, Bharti Infratel, Escorts, RIL, Airtel, Vodafone Idea, Biocon, L&T, BEML and more
Indian benchmark stock index, Sensex advanced over 400 points in early trade on Tuesday, tracking gains in index majors Kotak Bank, the HDFC Bank and ICICI Bank and mixed cues from global peers.

The Sensex was trading 1.03% higher, while the Nifty50 was up 1.02%.

Top Nifty Gainers

Top Nifty Losers

NTPC Limited

ONGC

JSW Steel

Zee Entertainment

Infratel

Axis Bank

Grasim

ICICI Bank

Asian Paints

UPL

*as of September 1, 10:10 am

These are the top stocks that are buzzing in trade today:

RIL, Airtel, Vodafone Idea shares react after SC judgement on AGR dues

RIL, Airtel, shares gained, while Vodafone Idea cracked after the apex court of India granted telcos a 10-year time for the payment of the Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT). The Supreme Court said that these telecom companies should pay 10% of the AGR-related dues by March 31.

The shares of RIL and Airtel gained 2% and 7% respectively, after the Supreme Court judgement. However, Vodafone Idea shares lost nearly 10%.

Bharti Infratel shares rise 3%

Bharti Infratel shares gained nearly 3% after the board approved the long-delayed merger of Indus Towers. According to the BSE filing, Bharti Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, whereas the London-listed Vodafone Group will hold around 28.2% of the stake.

Escorts gains over 5%

The shares of Escorts Motors gained nearly 5% on the back of blockbuster August sales data. The company has registered a whopping 80% growth in August tractor sales compared to the same period last year.

The company further said it remains optimistic about further sales during the festive season.

BEML and Tata Power gains ground

BEML shares were up 4%, whereas Tata Power gained 2% after the company closed ₹2,580 crore deal with the Indian Defence Ministry for the procurement of Pinaka rocket launchers for six Army regiments.

The contract has been signed with Tata Power Company Ltd (TPCL) and engineering major Larsen & Toubro (L&T) while defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project.

Biocon gains 5%

Biocon shares gained nearly 5% after its subsidiary along with Mylan NV, launched an insulin glargine injection Semglee in the US market. The company said ‘Semglee’ has received final approval from the US FDA and has an identical amino acid sequence to Sanofi’s Lantus, a drug that is used to control high blood sugar.

Future Retail tumbles 9%

Future Retail shares tumbled 9% after the Government Pension Fund Global, one of the world’s largest sovereign wealth funds sold 95 lakh shares at ₹158.61 per share.

The Government Pension Fund Global fund held 2.28% stake in the Future Retail at the end of June.

L&T gained 2%

L&T shares gained nearly 2% during the early trading hours after the company closed the long-awaited strategic divestment of L&T Electrical and Automation business to Schneider Electric for ₹14,000 crore.

The L&T deal was announced in May 2018 and took over 2 years to be completed after receiving the requisite regulatory approvals.

ONGC tanks 4%

ONGC shares tanked 4% ahead of the first quarterly earnings. During the meeting today the board will also consider the proposal of raising funds of up to ₹45,000 crore.

SEE ALSO: Top stocks to watch— L&T, Biocon, M&M, PNB, Tata Power, Bharat Earth Movers and others

Rise in 'work from anywhere' will lead to more outsourcing — that's an opportunity for TCS, Infosys and HCL Tech

READ MORE ARTICLES ON


Popular Right Now




Advertisement