Shares of PSU telco MTNL touched upper circuit of 5% today following cabinet approval for an MTNL and BSNL revival plan.
Asian Paints is lower after Q2 results. Revenue gains YoY was in single digits, rising 8.9%, while net profit jumped YoY by 66%. Welspun Corp and ICICI Pru also announce results today; full result analyzer here.
YES Bank has seen recent gains in share price over news reports that the bank is taking over Rs 6000 crore worth of land held by Sumer Group in Radius JV over non-payment of Rs 479 crore loan.
Reliance Power, Reliance Infra gain sharply. Anil Ambani stocks are showing high volatilty, Reliance Power having hit year lows in just the past week.
Axis Bank gains on result performance. Net interest income beat estimates of Rs. 6056 crore, rising over 16.5% to hit Rs 6,101.8 crore. The bank however delivered a net loss against expected profits.
Markets are volatile in morning trade. Nifty 50 was trading at 11577.45 (-10.9, -0.1%) , BSE Sensex was trading at 38874.96 (-88.9, -0.2%) while the broader Nifty 500 was trading at 9439.65 (-8.6, -0.1%). Market breadth is in the green. Of the 1359 stocks traded today, 674 were gainers and 596 were losers.
Riding High:
Largecap and midcap gainers today include Jubilant Life Sciences Ltd. (569.35, 5.24%), Jubilant Foodworks Ltd. (1476.15, 3.31%) and Tata Power Company Ltd. (61.05, 3.12%).
Downers:
Largecap and midcap losers today include RBL Bank Ltd. (258.30, -9.98%), Edelweiss Financial Services Ltd. (92.50, -4.00%) and Adani Ports & Special Economic Zone Ltd. (405.75, -3.57%).
BSE 500: highs, lows and moving averages
9 stocks made 52 week highs, while 5 stocks hit their 52 week lows.
Stocks touching their year highs included - Adani Transmission Ltd. (259.90, 2.50%), Atul Ltd. (4255.35, -0.21%) and Blue Star Ltd. (869.95, 0.37%).
Stocks making new 52 weeks lows included - Dish TV India Ltd. (13.10, -9.97%) and Lakshmi Vilas Bank Ltd. (17.15, -4.99%).
15 stocks climbed above their 200 day SMA including Coromandel International Ltd. (430.95, 3.02%) and Century Plyboards (India) Ltd. (170.30, 1.79%). 12 stocks slipped below their 200 SMA including Welspun India Ltd. (54.10, -5.17%) and Infosys Ltd. (629.70, -2.15%).
