Stocks In News: Chalet Hotels, HDFC Bank, Indostar Capital, Lupin, RBL Bank
A stock broker reacts during market hours in a dealing room in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)

Stocks In News: Chalet Hotels, HDFC Bank, Indostar Capital, Lupin, RBL Bank

Indian equity benchmarks fluctuated in the first hour of trading on Monday after opening at record highs.

At 10:36 am, S&P BSE Sensex was trading 0.47 percent lower at 41,747.47 points while the NSE Nifty 50 was up 0.63 percent at 12,430.50. Power Grid Corp. of India Ltd. was the top gainer on the Nifty 50 index while Indian Oil Corp. Ltd. was the top loser.

Here’s a look at the stocks in news moving the markets today.

Chalet Hotels Rises To Highest In Three Weeks After Belaire Deal

Shares of Chalet Hotels Ltd. rose as much as 2.92 percent to Rs 355 apiece—highest since Dec. 31, 2019.

The compayny has signed a share purchase agreement to acquire Belaire Hotels Pvt. Ltd., owner of the Novotel Hotel in Pune, and its affiliate entity SHPL at an enterprise valuation of about Rs 290 crore. The Chalet-Belaire deal marks the beginning of its tie-up with Accor Group, a gobal hospitality brands such as Fairmont, Sofitel, Novotel and ibis, among others.

Chalet Hotels shares are up 3 percent in the past five days and rose zero percent in the past 30 days, Bloomberg data shows. The stock has advanced 23 percent in the past 52 weeks, according to the data.

HDFC Bank Shares Swing After Q3 Results

Shares of HDFC Bank Ltd. fluctuated between gains and losses, two days after the company reported its December quarter results.

Net profit of India’s most valuable private lender rose 32.8 percent year-on-year to Rs 7,416.48 crore in the October-December period, on the back of net interest income that rose 12.7 percent year-on-year to Rs 14,172.90 crore.

HDFC Bank Q3 Results 2019-20: Key Highlights

  • Net interest income up 12.7 percent to Rs 14,172.9 crore
  • Net profit up 32.8 percent to Rs 7,416.48 crore
  • Gross NPAs at 1.42 percent versus 1.38 percent (QoQ)
  • Net NPAs at 0.48 percent versus 0.42 percent (QoQ)
  • Provisions up 12.7 percent to Rs 3,043.56 crore (QoQ)

Trading volume in the stock was almost quadruple the 20-day average for this time of the day, Bloomberg data shows. Of the shares that were traded, 44 percent were at the ask price and 40 percent were at the bid, according to the data.

IndoStar Capital Swings On Everstone Capital’s Stake Sale Plan

Shares of IndoStar Capital Finance Ltd. fluctuated between gains and losses to trade 2.46 percent lower at Rs 234.00 apiece.

Everstone Capital is exploring options for unit IndoStar Capital Finance, including a partial stake sale, as it looks to fund the expansion of the shadow bank, Bloomberg reported, citing people familiar with the matter.

The private equity fund, which holds close to 60 percent of IndoStar Capital, has held discussions with potential investors, said the people, who asked not to be identified as the information is private. The options include bringing in a strategic partner or selling shares to investors through the so-called qualified institutional placement, one of the people said.

Trading volume in the stock was 98 percent above the 20-day average for this time of the day, Bloomberg data shows. Of the shares that were traded, 30 percent were at the ask price and 49 percent were at the bid, according to the data.

Lupin Shares Fall The Most In Over 10 Weeks On U.S. FDA Actions

Shares of Lupin Ltd. dropped as much as 2.43 percent intraday to Rs 752 apiece, the steepest intraday loss since Jan. 13, 2020.

The drugmaker has received five observations from U.S. Food and Drug Administration after inspection of its Visakhapatnam plant in Andhra Pradesh. The inspection was carried out between Jan. 13, 2020, and Jan. 17, 2020.

Trading volume in the Lupin stock was almost quadruple the 20-day average for this time of the day, Bloomberg data shows. Of the shares that were traded, 35 percent were at the ask price and 44 percent were at the bid, according to the data.

RBL Bank Falls To Lowest In Over Three Weeks After ICRA Reaffirms Ratings

Shares of RBL Bank Ltd. fell as much as 3.48 percent to Rs 331.85 apiece—the lowest since Dec. 26, 2019.

Ratings agency ICRA Ltd. reaffirmed its ratings for various programmes of RBL Bank, the private lender said in an exchange filing on Jan. 18, 2020.

RBL Bank shares are down 6.8 percent in the past five days and fell 2.6 percent in the past 30 days, Bloomberg data shows. The stock has declined 41 percent in the past 52 weeks, according to the data.

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