Huge buying in telecom, auto stocks drive Sensex and Nifty - 5 bulls and bears of the day

Investors were bullish in stocks of telecom and auto segment drove the performance of Indian market.

Jul 03, 2020 03:07 IST India Infoline News Service

Bull and bear
Just a few minutes before market closing on Friday, the Sensex was performing at 36,037.01 higher by 193.31 points or 0.54% and that of Nifty 50 was trading at 10,608.05 above 0.53% or 56.35 points trading at around 3.25 pm. Huge buying in stocks of telecom and auto segment drove the performance of Indian market.

The BSE Telecom was trading at 1,347.11  up by 43.40 points or 3.33%, while the BSE Auto soared by 161.44 points or 1.03% trading at15,847.39.

Here's a list of top 5 gainers and losers of the day on Sensex:

Gainers:


Bharti Airtel: The stock was trading at Rs580.70 per piece, up by 3.97%. Carlyle to acquire approximately 25% stake in Airtel’s Data Centre business at a valuation of $1.2 billion. Carlyle through Comfort Investments II will invest $235M in Nxtra Data Limited (“Nxtra”), a wholly-owned subsidiary of Airtel. The post-money enterprise valuation of Nxtra is approximately $1.2Band Carlyle will hold a stake of approximately 25% in the business upon completion of the transaction, with Airtel continuing to hold the remaining stake of approximately 75%. 

Bajaj Auto: The stock was performing at Rs2943 per piece, up 2.59%. The company announced the sales of 278,097 vehicles for June 2020.  During the month, the two-wheeler segment registered total sales (including domestic and export) of 255,122 units, which dropped by 27% from 351,291 units recorded in June 2019.

Titan: The stock was up 2.02% trading at Rs1006.25 per piece. Titan through its Raga brand has introduced a digital campaign ‘Proud to be Me’, which celebrates the spirit of self-expression and inclusivity in the society.

TCS: The IT-giant was trading at Rs2200.95 per piece, higher by 1.97%. TCS and Celonis have announced a new global partnership to help customers streamline their business processes for greater operational resilience and efficiency. TCS will help customers adopt process mining to analyze processes, identify bottlenecks and exceptions, and optimize or redesign them with greater leverage of intelligent automation.

NTPC: The stock was up by 1.93% trading at Rs95.15 per piece. The company's Unit-2 of 150 MW of Kameng Hydro-Electric Project (4x150 MW) of North Eastern Electric Power Corporation Limited (a wholly-owned subsidiary company of NTPC Limited) has commenced operations.

Losers:

Tata Steel: The stock was trading at Rs329.70 per piece, down by 1.57%. The company said no deviation or variation in utilization of proceeds of the issue of listed non-convertible debt securities issued by the Company during the half-year ended March 31, 2020. The company has raised Rs670cr through NCD issuance on private placement.

IndusInd Bank: The stock was performing at Rs488 per piece down by 1.34%. According to Times of India, BankBazaar has partnered with IndusInd Bank and SBI Card to facilitate contactless access to credit cards via Digital KYC and Video KYC on its platform.

HDFC Bank: The bank was trading at Rs1075.30 per piece, down 1.32%. HDFC Bank has launched an instant auto loans scheme called ZipDrive for Tier 2 and 3 cities. In the scheme, the bank offers pre-approved loan utilizing its proprietary algorithm and analytics.

Bajaj Finance: The stock was down 1.22% trading at Rs2932.45 per piece. S&P Global downgraded the credit rating of the company from Long term rating of 'BBB-/Negative' and Short-term rating of 'A-3' to Long term rating of 'BB+/Stable' and Short-term rating of 'B'.

Bajaj Finserv: The stock was trading at Rs6150 per piece, lower by 0.63%. The company recently launched the Digital Health EMI Network Card to provide financial assistance over medical expenses amid Covid-19.

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