Buzzing Stocks: ICICI Bank, GVK Power shine, while UltraTech Cement drops

India Infoline News Service | Mumbai | October 17, 2016 14:39 IST

Check out the most important and latest stock news from NSE and BSE.

Stock Exchange
UltraTech Cement slipped 1% to Rs 3995. The company has posted a net profit after taxes and Minority interest of Rs 614 crore for the quarter ended September 30, 2016 as compared to Rs 490 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs 6,804.2 crore for the quarter ended September 30, 2015 to Rs 6,667.5 crore for the quarter ended September 30, 2016.

Resonance Specialties rallies 5%. The company’s one of its manufacturing site – Vista Organics, Mandideep, (Bhopal) has been recently inspected by the USFDA (US Food and Drug Administration). No 483 observations have been issued and EIR (Establishment Inspection Report) is awaited by the company.  

LML hit 20% to Rs 12.22 after the company said in a notice to BSE that it intends to commence trial production of its light cargo 3-wheeler vehicle around the end of October 2016.

Steel Strips Wheels Ltd fell 7% to Rs 715. The company reported 20% jump in its net profit in September quarter to Rs18.02 crore against Rs15.03 crore a year ago. Net sales fell 2.8% to Rs290.95 crore.

RS Software India Ltd tanked 7% to Rs 70 after the company posted a net loss of Rs5.96 crore in September quarter against net profit of Rs7.62 crore a year ago.

GVK Power & Infrastructure Ltd jumped 11% to Rs 6.97 after huge block deal. Around 57.10 million shares or 8.7% stake of the company changed hands

Ujaas Energy zoomed 4% to Rs 24.20 after the company has won order from Uttarakhand Renewable Energy Development Agency (UREDA) for Grid Interactive Rooftop & small Solar PV Power Plant of up to 5Kwp.

SBI advanced 1% to Rs 254.50. State Bank of India will divest up to 5% of its stake in its life insurance subsidiary SBI Life Insurance Co. Ltd.
 
Granules India gained 2%. The company informed BSE that Gagillapur facility located at Hyderabad, Telangana, India has successfully completed USFDA inspection without any observations. This facility manufactures Finished Dosages (FDs) and Pharmaceutical Formulation Intermediates (PFIs).

Vedanta inched up 0.43% to Rs 196. Vedanta has suspended mining operations at its Bicholim iron ore mine in Goa from Thursday due to labour unrest.

Cipla gained 0.59%. Cipla has signed a memorandum of agreement for South Africa's first biosimilars manufacturing facility to be set up at a cost of nearly USD 91 million.

NIIT Technologies dropped 4.4% to Rs 420.50. NIIT Tech reported better-than-expected revenue of Rs 692 crore in the September quarter helped by growth in its banking, financial services and insurance business (BFSI) business from the US.

Amtek Auto gained 2% to Rs 44.50. ICRA has downgraded rating for term loans of JMT Auto, a unit of ailing Amtek Auto Ltd (AAL), to 'BB-' from 'BB+', on adverse effect of the large-sized debt funded by foreign acquisitions.

Mawana Sugars gained 1.6%. Mawana Sugars has put its Titawi sugar mill on the block to bring down the debt and clear sugarcane dues to farmers.

Alok Industries jumped 2.4%. Alok Industries will seek protection from lenders as its plays to approach BIFR on grounds that 50% of its net worth has been wiped out as on March 2016.

Oil stocks is trading lower on the BSE. Petrol price was hiked by Rs 1.34 a litre and diesel by Rs 2.37 a litre on back of spike in global rates.

Lakshmi Vilas Bank rallied 3%. The bank will will announce its Q2 numbers today.

DHFL gained 1.6%. The company will announce its Q2 numbers today.

ICICI Bank zoomed 6.8% to Rs 258. Rosneft bought a 49% stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pteand Russian investment Fund United Capital Partnerssplit another 49% equity equally. The remaining 2% is held by minority shareholders after delisting of Essar Oil.  Rajiv Sabharwal the brain behind ICICI Bank's flourishing retail lending business has called it quits and will be replaced by ICICI veteran Anup Bagchi.

DCB Bank rallied 6.5%. The bank reported 31% year-on-year growth in the net profit to Rs 48.5 crore for the quarter ended September 30 compared with 36.9 crore reported in the year-ago period.

Crisil slipped 1% after the company reported its Q2 net profit at Rs 79.8 crore for the quarter ended September compared with 76.8 crore reported in the year-ago period.

Fortis Healthcare zoomed 6.8%. Fortis Healthcare completed the acquisition of 51% stake in Fortis Hospotel Ltd and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.

***Note: This is a NSE Chart

 

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