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Shares of the country’s fourth largest private sector lender rose as much as 4.1 percent after reporting June quarter profit that beat street estimates, along with a stock split announcement.
Shares of the mortgage lender pared their gains after it reported its June quarter earnings.
The company’s board approved merger of five of its units with self. The company also proposed to raise up to Rs 35,000 crore via non-convertible debentures on private placement basis.
Shares of the power transmission company posted the highest intraday jump since May 2009 after the company reported a net profit of Rs 61.7 crore during the April-June quarter compared to a loss of Rs 197 crore during the corresponding quarter last year.
The stock hit an upper circuit of 20 percent, the most since May 20, 2009. The stock is the best performer on the S&P BSE500 index.
The relative strength index (RSI) at 79 indicates that the stock may be overbought.
The stock has gained 31.85 percent on a year-to-date basis, as compared to S&P BSE Sensex index, which has gains of 21 percent for the same period.
Note: Warhol Ltd. has 9.87 percent stake in the company as of March 31, Bloomberg data showed.
The stock is the top loser on the BSE500 index. The stock is currently trading near its 50-day moving average.
Shares swung between gains and losses and were trading 1.3 percent higher at Rs 803.6 on the National Stock Exchange.
The stock has gained almost 42 percent on a year-to-date basis, which is twice the gains of the S&P BSE Sensex index, which has gains of 21 percent for the same period.
The consensus price target of analysts tracked by Bloomberg stands at Rs 27.43 and is 40.3 percent higher than the current market price.
Shares of the private lender fell as much as 2.14 percent, the most in a month after it reported a decline in net profit during the April-June quarter. The decline in net profit was the sixth quarter in a row.
Gross non-performing assets remained flat on a sequential basis at 5.03 percent while net non-performing assets stood at 2.3 percent compared to 2.11 percent in the previous quarter.
The bank's Net Interest Margins will continue to remain under pressure, Chief Financial Officer Jairam Sridharan told BloombergQuint over phone.
The bank has moved largely in line with the benchmark index, gaining 19.33 percent in 2017 while the index has gained 21 percent during the same period.
Shares of the state-owned fertiliser company dropped as much as 6.8 percent after the government said it will sell 7.35 lakh shares or 15 percent stake in the company via an offer-for-sale.
The OFS for non-retail investors will be open today, while the same for the retail investors will open tomorrow. The floor price of the offer has been set at Rs 72.80 per share.
The stock gained 111 percent so far this year, compared to 21 percent in the S&P BSE Sensex.
#BQMoney | Veracity's Pramit Brahmbhatt remains neutral on the rupee. https://t.co/efRcrIE2ph pic.twitter.com/oCNdoLtcv1
— BloombergQuint (@BloombergQuint) July 26, 2017
Disclaimer: Stock recommendations and comments presented on BloombergQuint.com are solely those of the analysts and experts quoted. They do not represent the opinions of BloombergQuint.com on whether to buy, sell or hold shares of a particular stock.
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The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, rose 0.14 percent to 9,987.
Most Asian stocks climbed following the advance in U.S. and European equities on the back of positive corporate earnings. More than 80 percent of S&P 500 companies have delivered earnings that have beaten forecasts so far this reporting period, helping to support optimism in the global economy.
Investors are also looking for clues from the Fed on how it plans to reduce the balance sheet, with policy makers seen keeping interest rates on hold as the U.S. central bank meeting concludes on Wednesday.
The euro held near the highest in almost two years after German business confidence data beat expectations.
West Texas Intermediate gained 0.96 percent and went past $48 a barrel mark. The commodity gained for a third straight session after industry data showed that U.S. crude stockpiles fell, easing the global glut.
Gold fell 0.25 percent to $1,247.95 an ounce.
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