Top stock movers — GMM Pfaudler, SBI, RIL, HDFC Bank, IOC, IDBI and more

• The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am.
• 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 index Sensex tumbled over 300 points on Tuesday, led by losses in index-heavyweights Reliance Industries and Maruti, amidst negative cues from global markets and foreign fund outflows.

The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am.

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

*as of September 22, 10:00 am

GMM Pfaudler shares locked in 10% lower circuit

GMM Pfaudler shares were locked in a 10% lower circuit after the promoters of the company would sell 25.71 lakh shares via offer for sale. The company has set the floor price at ₹3,500 per share, which is at a discount of 33% as of yesterday’s closing price.

HSIL shares trade 5% higher

The shares of HSIL Limited were trading 5% higher after the company’s board approved the proposal for buyback of fully paid-up equity shares of up to ₹70 crore worth of shares at ₹105 per share at a meeting held yesterday.

SBI shares down 2%

SBI shares lost 2% during the early trade hours. The country’s largest lender SBI on Monday raised ₹7,000 crores by issuing Basel III compliant bonds.

IDBI Bank shares down 4%

The shares of IDBI Bank were trading 4% lower after the bank appointed six investment banks to raise up to ₹11,000 crore, the qualified institutional placement (QIP) in November.

Indian Oil Corp shares down 3%

Indian Oil Corp shares lost nearly 3% after the company said it would invest ₹17,825 crore in implementing Petrochemical and Lube Integration at its Gujarat Refinery.

HDFC Bank shares nearly a percent

The shares of HDFC Bank was up nearly a percent in an otherwise volatile market after the bank denied the allegations of misleading claims levelled by a US-based law firm to seek damages in a class-action suit.

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