Indian stocks were trading flat in a volatile session on Tuesday as investors remained cautious ahead of the Union Budget 2020. At 11:09 am, the benchmark S&P BSE Sensex rose 22.21 points, or 0.05%, to 41,177.33, while the Nifty 50 was down 3.90 points, or 0.03%, to 12,115.10. HDFC, Maruti Suzuki, Torrent Pharma, United Spirits, InterGlobe Aviation (IndiGo) and Wockhardt were among the key stocks in news today. Read on to know more:
HDFC: Housing Development Finance Corp Ltd (HDFC) shares gained 3.2% after the mortgage lender’s Q3 profit surged nearly four times to Rs 8,372.5 crore compared with Rs 2,113.8 crore a year ago.
Maruti Suzuki, CG Power: Maruti Suzuki India Ltd shares inched up 1%, while those of CG Power and Industrial Solutions Ltd were locked in a upper circuit of 5% ahead of the earnings announcement for the third quarter later in the day. Other major companies to announce Q3 results include Century Textile and Industries, Central Bank of India, JK Lakshmi Cement, Manappuram Finance and Mastek, etc.
Torrent Pharma: Torrent Pharmaceuticals Ltd shares declined over 6% after the company said Q3 profit rose 2% year-on-year to Rs 251 crore. The company also plans to raise Rs 5,000 crore via issuance of equity shares.
United Spirits: United Spirits Ltd shares surged 9% after the company’s Q3 profit jumped 15.2% to Rs 232 crore compared with a year ago.
IndiGo: Shares of InterGlobe Aviation Ltd, operator of India’s largest airline IndiGo, dropped 2.5% even as the company’s Q3 consolidated profit jumped to Rs 496 crore compared with Rs 185 crore a year ago.
Wockhardt: Wockhardt Ltd shares climbed 6.7% after a media report said that Cipla and Asian buyout fund PAG are competing to acquire a significant stake in the company’s domestic formulations business.
Karnataka Bank: Karnataka Bank Ltd shares jumped 4% after the board recommended a bonus issue of 1 share for every 10 shares held.
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