Top stock movers — Future Retail, IRCTC, Reliance Industries, Tech Mahindra, HCL, Infosys, Future Enterprises and more

Top stock movers — Future Retail, IRCTC, Reliance Industries, Tech Mahindra, HCL, Infosys, Future Enterprises and more
BCCL
  • The India benchmark index Sensex was trading 0.16% lower; while the Nifty was up about 6 points at 10:00 am on September 8.
  • These were the top losers and gainers in the Nifty pack.
  • These are the top stocks that are buzzing in trade today.
  • Check out the latest news and updates on Business Insider.
Indian stock market began on a cautious note on Tuesday, amidst lack of cues from global peers. The India benchmark index Sensex was trading 0.16% lower; while the Nifty was up about 6 points at 10:00 am on September 8.

These were the top losers and gainers in the Nifty pack:

Top Nifty GainersTop Nifty Losers
BPCLInfratel
WiproNestle India
InfosysTata Motors
TCSBharti Airtel
HCL TechONGC
*as of September 8, 9:55 am

These are the top stocks that are buzzing in trade today

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IRCTC shares gained 3% after stake sale report

The shares of Indian Railways and Tourism Corporation gained nearly 3% after news reports surfaced that the union government which holds 87.40% stake in IRCTC is reportedly planning to sell 15-20% of its stake via offer for sale.

Bharat Dynamics shares plunge 13%

The shares of Bharat Dynamics lost nearly 13% in a few minutes of trading. This comes a day after the union government announced that it is looking to sell 15% of its stake in the company.

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The government currently owns 87.75% of the company’s stake, and it is looking to offload 2.71 crore shares at a floor price of ₹384.50.

Future Enterprises shares down 5%

The shares of Future Enterprises lost 5% on September 8 after the parent organisation reported a consolidated net loss of ₹394.77 crore for the fourth quarter ended March 31.

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Other Future Group subsidiaries are also trading lower today - Future Retail down 5%, Future Lifestyle Fashions down 5%, Future Consumer was down 4%, among others.

Shriram City Union Finance shares trading 5% higher

The shares of Shriram City Union Finance were trading 5% higher after Arkaig Acquisition (FPI) bought nearly 12.23 lakh shares in the company at ₹965 per share.

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Parag Milk and Foods shares were down 3%

The shares of Parag Milk and Foods were trading 3% lower on September 8 after the company reported a 88% fall in its profit to ₹3.23 crore. The board has also approved raising ₹ 230 crore via sale of non-convertible debentures. Non-convertible debentures can’t be converted into shares or equities.

Info Edge shares gain 3% in a volatile market

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Info Edge shares were trading 3% higher after the company reported a 24.7% jump in its India standalone net profit to ₹83.2 crore for the first quarter ended June 30.

Reliance Industries shares trading 1% higher

The shares of Mukesh Ambani owned RIL was trading 1% higher on September 8 after news reports surfaced that RIL is in preliminary talks with Facebook and private equity fund KKR for investments in its retail business.

SEE ALSO: Top stocks to watch— SBI, HDFC Bank, ICICI Bank, Future Retail, Future Enterprises, Indian Overseas Bank, Bharat Dynamics, Parag Milk, Info Edge and more

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A Wall Street strategist who nailed last week's sell-off says the only path to a 'sharply higher' stock market is a dot-com-like bubble
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