Indian stock markets were trading with modest gains in early trade on Tuesday (July 16). The benchmark S&P BSE Sensex was trading at 38,990.79, up 94.08 points, or 0.24%, at 10:48 am, while the Nifty 50 index rose 29.85 points, or 0.26%, to 11,618.20.
Among the key stocks in news were Suzlon Energy, Ashok Leyland, Yes Bank, HDFC Bank and Dewan Housing Finance Corp. Ltd (DHFL). Read on to know more:
Suzlon: Suzlon Energy Ltd shares slumped over 7% on news that the company is struggling to raise funds to make payments for convertible bonds worth $172 million due next month.
Ashok Leyland: Ashok Leyland Ltd shares dropped after the company informed exchanges that its Pantnagar plant will remain closed from 16 July to 24 July, owing to weak demand and outlook for the industry.
Yes Bank: Yes Bank Ltd shares gained 2.5% ahead of its June quarter earnings on Wednesday, i.e. 17 July. A media report also said that Yes Bank has received a term sheet offer over weekend from a US-based private equity investor and the deal is likely to materialise soon.
HDFC Bank: HDFC Bank Ltd shares inched up 1% after the bank said its board of directors, at its meeting scheduled on Saturday, 20 July, will consider declaration of a special interim dividend for 2019-2020 to commemorate 25 years of operations. The announcement was made after market hours on Monday, 15 July.
DHFL: DHFL shares bounced back nearly 6% after falling 29% in the previous trading session after reporting record loss of Rs 2,224 crore in the March quarter.
Greaves Cotton: Greaves Cotton Ltd shares jumped over 4% after the company acquired over 1 million shares of subsidiary Ampere Vehicles Pvt. Ltd and increased stake from 72.11% to 81.23%.
Tata Metaliks: Tata Metaliks Ltd shares declined as much as 6.8% after the company said its profit after tax fell by over 35% to Rs 19.62 crore in the quarter ended June.
Aditya Birla Fashion: Aditya Birla Fashion and Retail Ltd shares lost 1.5% after the company said it will acquire 51% stake in Indian fashion designers duo Shantanu and Nikhil’s apparel firm Finesse International Design.
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