Sensex, Nifty trade in red - Top bulls and bears of Friday

Indian market broadly traded on a negative note with both Sensex and Nifty 50 giving away their previous gains.

Jul 10, 2020 03:07 IST India Infoline News Service

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The corporate result season has kick-started with IT-giant TCS missing market estimates during its June 2020 (Q1FY21) quarter on expected lines with Covid-19 pandemic impact. Indian market broadly traded on a negative note with both Sensex and Nifty 50 giving away their previous gains. At around 3.08 pm, the Sensex was performing at 36,618.50, down by 119.19 points or 0.32%, while the Nifty 50 was trading lower 36.85 points or 0.34% at 10,776.60.

Here is the list of 5 gainers and losers of the day on Sensex.

Gainers: 

Reliance Industries: The stock was performing at Rs1,874.30 per piece, higher by 2.72%. RIL announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). Following initial agreements in 2019, bp and RIL teams have worked closely over the past few months in a challenging environment to complete the transaction as planned. bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.

Sun Pharma: The stock was trading at Rs494.10 per piece, up by 2.50%. The company has received closure notice from the district administration of Dadra and Nagar Haveli after reportedly some 18 of its employees tested positive for Covid-19.

Hindustan Unilever: The HUL stock was trading at Rs2223 per piece, up 2.19%. The Unilever-backed company has entered into a trademark battle with another FMCG-major Emami who also has its face cream named as 'Glow & Handsome'.

TCS: The IT-stock was trading at Rs2,224.90 per piece, up 0.93%. In Q1FY21, TCS has registered a 13.81% decline in consolidated net profit to Rs7,008cr compared to Rs8,131cr in the corresponding period of the previous year. On the contrary, consolidated revenue was at Rs38,322cr in Q1, slightly better compared to the revenue of Rs38,172cr a year ago same period.

Bharti Airtel: The telecom stock was up 0.84% trading at Rs573.65 per piece. It is being known that the government has filed a case before the SC against the Delhi High Court's order where the latter allowed Airtel to claim GST refunds worth Rs923cr for the period between July - September 2017.

Losers:

Titan: Slumping by 3.06%, the stock was trading at Rs961.25 per piece. Titan's revenue in May and June months were at slightly below 20% and around 70% compared to the corresponding months of the previous year. The Division also sold gold in the bullion market worth Rs610cr at the market, rates to optimize the inventory levels

IndusInd Bank: Lower 3.01%, the stock was trading at Rs539.80 per piece. The lender launched its redesigned website to offer customers with an enhanced experience across devices such as desktops, laptops, mobile phones and tablets.

HDFC: The stock was performing below 2.81% at Rs1,887.50 per piece. According to Business Standard report, People's Bank of China (PBOC) has trimmed stake in HDFC following a furore in April when it emerged that China's central bank had upped its holdings in India’s largest mortgage company, taking advantage of the market meltdown.

Axis Bank: The stock was performing at Rs441.35 per piece, down by 2.73%. Axis Bank has partnered with Maruti Suzuki to offer easy financing options for the potential car buyers. Axis Bank is one of the key partners of Maruti Suzuki for dealer inventory as well as retail financing solutions.

ICICI Bank: The stock was down by 2.43% trading at Rs361.55 per piece.  The lender's board of directors approved a fundraising proposal for an amount aggregating up to Rs15,000cr. The lender may raise the same through issuance in securities in one or more tranches.

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