Sensex, Nifty maintain winning spree tracking global cues - Top bulls and bears of Tuesday

Buying was witnessed in majority sectoral indices except IT, pharma and realty stocks were investors carried profit booking.

Aug 11, 2020 03:08 IST India Infoline News Service

Stock market report with bull and bear
Indices maintained its rising spree tracking Asian markets which were also performing on a higher note following the Wall Street gains overnight as investors shrugged off China's retaliatory actions against the United States.

The Nifty50 and BSE Sensex had touched over 11,350 and 38,500-levels in today's trade. Buying was witnessed in majority sectoral indices except IT, pharma and realty stocks were investors carried profit booking.

At around 3.15 PM, the indices have corrected with Nifty performing at 11,319.05 above 48.90 points or 0.43%, while the Sensex trading at 38,398.31 higher by 216.23 points or 0.57%.

Here is the list of top gainers and losers of Tuesday:

Gainers:


Zee Entertainment: The company's stock was performing at Rs160.20 per piece surging by 5.95%. According to the regulatory filing, Brickwork has revised its rating to BWR AA- (credit watch with negative implications) on ZEEL's 6% cumulative redeemable non-convertible preference shares. Earlier, the rating stood at 'BWR AA' with the same implications.

BPCL: Performing at Rs432.30 per piece, the stock was above 4.13%. The Department of Investment and Public Asset Management (DIPAM) extended the deadline for potential bidders to submit their Expression of Interest (EoI) for the state-owned company to September 30, 2020. The Indian government seeks to sell its controlling stake of over 52% in BPCL to private players.

Axis Bank: Trading at Rs447.55 per piece, the stock has zoomed by 3.82%. The bank's committee of whole-time directors today approved the allotment of more than 23.80cr equity shares aggregating to Rs10,000cr through the issuance of Qualified Institutions Placement (QIP).

JSW Steel: The stock was trading at Rs253.80 per piece up 3.51%. The company has reported crude steel production of 12.46 lakh tonnes in July, up 9% from 11.44 lakh tonnes in the previous month. The average capacity utilisation during the month of July was 83% as against 76% on June 20.

ITC: The FMCG stock was trading at Rs203.80 per piece higher by 2.49%. ITC registered a 26% decline in standalone to Rs2,342.76cr during Q1FY21, compared to Rs3,173.94cr in the corresponding period of the previous year.

Losers:

Titan: The stock was trading at Rs1,061.75 per piece down 4.14%. The company has incorporated a wholly-owned subsidiary called Titan Commodity Trading Limited.

Shree Cement: Trading at Rs21,488.50 per piece, the stock has plunged by 4.05%. In Q1FY21, the company posted a consolidated net profit of Rs330.35cr, down 13.5% compared to Rs382cr a year ago same period.

Cipla: The stock has slumped by 2.59% and was trading at Rs775 per piece. The company’s consolidated net profit in Q1FY21 came in at Rs566.04cr which rose by 26.59%, as compared to Rs447.15cr in Q1FY20. The net profit margin in Q1FY21 came in at 13.02% which rose by 1.81% you. The revenue from operations grew 9% to Rs4,346.2cr.

UPL: The stock was performing at Rs483.20 per piece and tanked by 2.25%. The company witnessed consolidated net profit of Rs551cr during June 2020 (Q1FY21) quarter, which nearly doubled compared to a profit of Rs285cr in the corresponding period of the previous year. Consolidated revenue from operations was at Rs7,833cr in the quarter, as against Rs7,906cr a year ago same period and Rs11,141cr in the previous quarter.

Dr Reddy's Laboratories: Trading at Rs4,598.50 per piece below 1.97%. The company announced the launch of Ciprofloxacin 0.3% and Dexamethasone 0.1% Otic Suspension, USP, a therapeutic equivalent generic version of Ciprodex (ciprofloxacin 0.3% and dexamethasone 0.1%) Otic Suspension, approved by the U.S. Food and Drug Administration (USFDA).

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