ADVERTISEMENT

Stocks In News: Linde India, Suzlon Energy, Tech Mahindra, TVS Motor

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

A trader monitors graphs and financial information on the trading inside a stock exchange. (Photographer: Alex Kraus/Bloomberg)
A trader monitors graphs and financial information on the trading inside a stock exchange. (Photographer: Alex Kraus/Bloomberg)

Indian equities fluctuated between gains and losses in the morning trade.

The S&P BSE Sensex rose 0.2 percent to 40,453 and the NSE Nifty 50 rose 0.19 percent to 11,853. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.

Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 1.1 percent gain. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1 percent.

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

Linde India Falls After Q3 Results

Shares of Linde India fell as much as 5.2 percent, the most in nearly eight months, to Rs 731 after the company announced December quarter results.

Key Earnings Highlights (Q3, FY20)

  • Revenue fell 26 percent to Rs 413 crore
  • Net profit of Rs 635 crore versus Rs 15.4 crore
  • Profit rose due to an exceptional gain of Rs 841 crore
  • Exceptional gain on account of sale of an asset on slump basis

Tech Mahindra Swings After Falling For Two Trading Sessions

Shares of Tech Mahindra fluctuated between gains and losses to trade little changed at Rs 820.60 after falling for two consecutive trading sessions.

The company acquired 100 percent stake in Zen3 Infosolution—a U.S.-based company specialising in AI-based solutions.

The scrip traded at 17 times its estimated earnings per share for the coming year, according to Bloomberg data.

TVS Motor Drops The Most In Five Months

Shares of TVS Motor Company extended declines for the second consecutive trading session. The stock fell as much as 5.9 percent, the most since Sept. 25, 2019, to Rs 412.90.

The company said that the coronavirus outbreak impacted February production. The two-and-three-wheeler maker could see a 10 percent drop in its planned February production.

Trading volume was almost seven times its 20-day average, Bloomberg data showed. The scrip declined 7 percent in the past 12 months compared to a 13 percent gain in the Sensex.

Suzlon Energy Extends Gain For Third Straight Trading Session

Shares of Suzlon Energy extended gains for the third consecutive trading session. The stock rose as much as 9.4 percent to Rs 2.90.

The company plans to consider issuing shares in its meeting on Feb. 27.

Trading volume was almost 12 times its 20-day average, Bloomberg data showed. The stock advanced 26 percent in the past five days and 16 percent in the past 30 days.