Top stock movers — Gulf Oil, Tata Metaliks, Future Group, HCL Tech, Repco Home Finance, PNB and more

Indian stock market index Sensex and Nifty opened on a cautious note tracking weak cues from Asian peers.

The 30-share BSE index was trading 0.24% higher; while the NSE Nifty rose 18 points at 10:38 am.

These were the top losers and gainers in the Nifty pack:
Top Nifty GainersTop Nifty Losers
HCL TechTata Motors
Kotak Mahindra BankInfratel
Tech MahindraPower Grid
TCSNestle India
*as of September 21, 10:30 am

Gulf Oil gains 13%

The shares of GOCL Corp were trading 13% higher after the company informed investors that its UK subsidiary, HGHL Holdings, has decided to divest 2 lakh shares of Quaker Houghton at a price of ₹175 per share.

HGHL Holdings has beneficial interest in 4.27 lakh shares of common stock of Quaker Chemical Corporation/Quaker Houghton, USA, GOCL Corporation said in a stock-exchange filing.

Repco Home Finance dips 4%

The shares of Repco Home Finance lost 4% during the trade on September 21. The Care Ratings downgraded the rating for the ₹8,645 crore long-term bank facilities of the company to AA-minus with a stable outlook from AA with a negative outlook.

RITES down 2%

The shares state-owned RITES lost 2% after the board approved buyback of shares amounting up to ₹257 crore. The company said that it would buy shares at a price of ₹265 apiece, which is at a premium of 5% as of 9:45 am.

Tata Metaliks lost 3%

The shares of Tata Metaliks Limited were trading 3% lower after the company on Friday announced a planned shutdown of its plant. The company's blast furnaces and its associated facilities in Kharagpur plant are undergoing a planned shutdown, in phases, for repair & maintenance including hearth profiling.

Future Enterprises trades 2% lower

The shares of Kishore Biyani owned Future Enterprises were trading 2% lower after the company defaulted on debt repayment towards the commercial paper.

FEL told exchanges that it is unable to service its obligations in respect of the payment of commercial paper after its maturity and the gross principal amount on which the default has occurred on September14, is ₹90 crore.

This also moved other Future Group stocks such as — Future Retail trading 2% lower, Future Lifestyle Fashions trading 3% lower among others.

HCL Tech surges 4%

The shares of HCL Tech were trading 4% higher after the company announced its intention to acquire a leading Australian IT, business and management consulting group, DWS Limited. However, the company did not disclose the acquisition sum in its stock-exchange filing.

It said the acquisition of DWS would enhance HCL’s contribution to digital initiatives in Australia and New Zealand while strengthening its client portfolio across key industries.

Punjab National Bank lost 2%

The shares of state-owned PNB was trading 2% lower after the financial regulator of Kazakhstan revoked the licence of its subsidiary, JSC Tengri Bank, on account of failure to observe prudential standards and other mandatory norms. PNB holds around 42% stake in JSC Tengri Bank.

SEE ALSO: It’s not just the DWS deal, Morgan Stanley's outlook has painted HCL Tech green⁠ — along with TCS, Infosys and Wipro

After Happiest Minds Tech, Route Mobile doubles the money invested in the IPO