Here is the list of gainers and losers of Wednesday on Nifty:
Dr Reddy's Laboratories: The stock was trading at Rs4,282.10 per piece, higher by 5.70%. The company reported a consolidated net profit of Rs579.30cr in Q1FY21, down by 12.59% from Rs662.80cr a year ago same period. Consolidated revenue increased by 14.93% yoy to Rs4,417.50cr during the latest quarter.
IndusInd Bank: The stock was trading at Rs554.60, surging by 5.25%. The bank's board has approved a proposal to raise Rs3,288cr through a preferential issue. IndusInd posted a net profit of Rs460.64cr in Q1FY21, compared to Rs1,432.5cr in the corresponding period of the previous year. In the quarter, Net Interest Income (NII) increased to Rs3,309cr up by 16 % from Rs2,844cr for the quarter ended June 30, 2019.
Tata Steel: The stock was trading at Rs373.70 per piece, zooming by 4.24%. Tata Steel flags-off the 1st Raw Material Consignment of Ferrous Scrap at its Steel Recycling Plant being set-up in Rohtak, Haryana.
Grasim: The stock was performing at Rs616.95 per piece, up 3.47%. After Ultratech Cement registered a better than expected June 2020 (Q1FY21) quarterly performance which led to boost investors sentiment in parent Grasim Industries.
Bharti Infratel: The stock was trading at Rs196.50 per piece, up 3.15%. The company posted a net profit of Rs704cr during Q1FY21, which was down by 21% compared to Rs887cr a year ago same period. Revenue for the period was at Rs3,505cr declining by 6% from Rs3,712cr of Q1FY20.
Reliance Industries (RIL): The stock was down by 3.47%, trading at Rs2,102.15 per piece. RIL clarified to the exchanges over a news article claiming that the company is close to buying Future Group's retail subsidiaries for consideration of Rs27,000cr. The company said, "We are unable to comment on media speculation and rumours and it would also be inappropriate on our part to do so".
Nestle India: The FMCG stock was trading at Rs16,575.05 per piece, lower by 3.04%. In Q1FY21, Nestle posted a net profit of Rs486.60cr rising by 11.14% from Rs437.79cr recorded a year ago same period. Meanwhile, total sales increased to Rs3,041.5cr in the quarter under review as against Rs2,982.8cr in the same quarter last year.
HCL Technologies: The stock was trading at Rs694.60 per piece, slumping by 2.51%. The company has reported a consolidated net profit of Rs2,925cr in Q1FY21 rising by 31.7% compared to Rs2,220cr in the corresponding period of the previous year. Similarly, consolidated revenue jumped by 8.6% to Rs17,841cr as against Rs16,425cr a year ago same period, while revenue dropped by 4% from Rs18,590cr of Q4FY20. Also, Roshni Nadar was appointed as chairperson replacing her father Shiv Nadar who is also a founder of HCL Tech.
M&M: The stock was trading at Rs605.70 per piece, down 2.36%. The company has set August 07, 2020, as the record date to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the First Quarter ended 30th June 2020.
HDFC Bank: Below 2.09%, the stock was trading at Rs1,063.90 per piece. In the latest development, Aditya Puri CEO and Managing Director (MD) of HDFC Bank has sold the majority of his stake in the lender for consideration of Rs843cr.