SBI, Axis Bank, HDFC, InterGlobe Among Top Laggards Today
Share price of InterGlobe Aviation, which owns airline IndiGo, hit a 52-week low on Tuesday, a day after the company declared its earnings for the April-June period. At 12:25 pm, InterGlobe Aviation shares were trading at Rs 922.60, down 9 per cent from the previous day's close, on stock exchange NSE. Share prices of IndiGo touched an intraday low of Rs 890.55. The shares had closed at Rs 1,005 on Monday. On the BSE, InterGlobe Aviation shares tanked 9 per cent, or Rs 83, to Rs 921.
InterGlobe Aviation had post-market hours on Monday reported a 97 per cent plunge in net profit for the fiscal first quarter, hurt by higher fuel expenses and forex losses. The company logged a net profit of Rs. 27.7 crore for the quarter, as against Rs. 811 crore for the corresponding period a year ago.Â
Axis Bank shares also fell almost 2 per cent, a day after the private sector lender posted a smaller-than-expected drop in quarterly profit. On the BSE, Axis Bank shares were trading at Rs 558.95 in afternoon trade, down Rs 9.55 or 1.7 per cent from the previous close, and were among the top losers on the 30-stock index. The scrip had finished at Rs 568 on the BSE the previous day.
Shares of State Bank of India (SBI), the country's largest lender, dipped nearly 2 per cent to Rs 291.80 on the NSE.
Among other prominent laggards, HDFC shares fell almost 3 per cent in intraday trade, a day after the mortgage lender reported its June quarter earnings. In afternoon, HDFC shares were trading 2.5Â per cent lower at Rs 1,978.25 on the BSE.
Meanwhile, HDFC Bank had launched share sales in India and the United States on Monday to raise up To Rs 15,500 crore, as part of a previously announced plan to raise more than $2 billion. The bank set a floor price of Rs. 2,179.13 ($31.75) per share for the domestic share sale as well as the American Depositary Shares offering, according to a regulatory filing.
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