Indian equity benchmarks snapped three-day gain and declined after investors across Asia rushed to safe havens and dumped risk assets following North Korea's claim on Sunday that it had tested a hydrogen bomb.
Both the S&P BSE Sensex Index and NSE Nifty 50 Index fell as much as 0.3 percent to 31,812.32 and 9,950.05, respectively. The market breath, however, was slightly tilted in favour of buyers. About 791 stocks advanced and 744 stocks declined on the NSE.
Here Are The Stocks Moving The Market This Morning
Infosys: Seeks Investors' Approval
Shares of the information technology company fell as much as 1 percent to Rs 913.60.
The Bengaluru-based software developer has sought shareholders' approval to appoint U.B. Pravin Rao as its managing director, according to an exchange notification. The company's board had unanimously appointed U.B. Pravin Rao as interim managing director and chief executive officer of Infosys with effect from August 18, Infosys said in the notification.
The analyst consensus price target is Rs 1,011.43, implying a potential upside of 9.9 percent from the current market price.
Also Read: Nandan Nilekani Will Not Receive Any Salary For His Current Post, Infosys Says
Hero MotoCorp: Swings On August Sales
Shares of the two-wheeler manufacturer swung between gains and losses and traded at Rs 4,052.
The company recorded its highest-ever monthly sales last month, led by a strong pick-up in demand ahead of the festive season. Its two-wheeler sales rose 10 percent on a year-on-year basis to 6.78 lakh units, according to its exchange filing.
Hero Motocorp trades at 22.8 times trailing 12-month estimated earnings per share. So far this year, the stock has given returns of 37 percent, compared to 33.3 percent advance in S&P BSE Auto Index.
Also Read: Automakers Shake Off GST Disruption In August
TVS Motor: August Sales Jump
Shares of the two and three-wheeler manufacturer extended gains for the second day and rose as much as 2.7 percent to Rs 625.
The company sold 3.17 lakh units in the previous month, 16 percent higher, compared to the corresponding month, last year, according to its notification on the exchange.
Trading volume was 49.8 times its 30-day average. so far this year, the stock has returned 72 percent and a gain of 88 percent in the past 12-months.
Cipla: FDA Boost
Shares of the drug maker rose as much as 1.4 percent to Rs 576.60.
The pharmaceutical company received tentative approval from the U.S drug regulator for Arformoterol Tartrate Inhalation Solution, used to treat diseases like chronic bronchitis and emphysema.
The stock was trading at 24.4 times estimated forward earnings per share. Bloomberg data showed that about 55 percent of the analysts covering the company have changed their price targets over the past month (20 up, four down, 17 unchanged, two dropped)
GTPL Hathway: Wins Order
Shares of the TV cable operator snapped two-day decline and rose as much as 5.1 percent, the most in three-weeks to Rs 138.80.
The company bagged multiple orders worth Rs 48.16 crore from Government of Gujarat, according to its exchange filing.
The stock fell 3.9 percent in the past month, compared to 1.5 percent decline in the S&P BSE Sensex Index.
Cadila Healthcare: Gains On FDA Approval
Shares of the drugmaker extended gains for the second consecutive trading session and rose as much as 2 percent to Rs 517.85.
The pharmaceutical company received tentative approval from the U.S. drug regulator for Donepezil Hydrochloride Tablets and Mycophenolate Mofetil injection, used to for preventing excessive blood clotting and heart transplant treatment, respectively, according to its exchange filing.
The analyst consensus price target is Rs 593.93, implying a potential upside of 5.4 percent from the current market price. The stock has risen 41.8 percent so far this year, against a 12.1 percent decline in the Nifty Pharma Index.
Stocks Reacting To Earnings
D Link (First quarter of financial year 2017-18 year on year)
- Stock fell as much as 12.5 percent, the most since August 10, to Rs 85.05
- Net loss of Rs 10.6 crore versus net profit of Rs 5 crore
- Revenue down 39 percent at Rs 92 crore versus Rs 151 crore
- EBITDA at -16.5 crore versus Rs 1.5 crore
- Margin at -17.9 percent versus 1 percent
Stock Reacting To Bulk Deals
Pressman Advertising Limited
- Stock fell 3.4 percent to Rs 60.65
- Promoter Pressman Properties Ltd. sold 2.19 lakh shares (or 0.9 percent of equity) at Rs 63.99 each
- Sandhiya Mittal bought 2.15 lakh shares at Rs 64.01 each
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