Stocks Radar: HEG, Indraprastha Gas, Bosch, Yes Bank, IDFC
Here are the stocks moving the market today.
Indian equity benchmarks opened lower on Friday, following their Asian peers. The S&P BSE Sensex and the NSE Nifty 50 Index fell as much as 0.43 percent to 37,150.38 and 10,982.85, respectively, as of 9.56 a.m.
The market breadth was tilted in favour of sellers as 1,035 stocks declined and 528 advanced on the National Stock Exchange. All sectoral indices declined, dragged by a 1.87 percent fall in the NSE Nifty Metal Index.
Here Are The Stocks Moving The Market This Morning
HEG Falls After Q1 Results
Shares of HEG Ltd. fell as much as 7.92 percent to Rs 926 apiece.
- The electrical components maker’s revenue dipped 48.6 percent year-on-year to Rs. 816.5 crore, according to an exchange filing.
- Other income rose more than five times year-on-year 39.16 crore.
- Total expenses also grew year-on-year to Rs. 495.69 crore.
HEG’s stock has declined 76 percent in the past year and 21 percent in the past 30 days.
Indraprastha Gas Gains For Second Straight Session
Shares of the city gas distributor extended their gaining streak for the second straight session at Rs 324.30 apiece.
The company’s net profit increased 24 percent year-on-year to Rs 218 crore for the quarter ended June, according to its exchange filing.
- Gross sales value rose 23 percent over last year to Rs 1,738 crore.
- Ebitda jumped 21 percent year-on-year.
The stock’s trading volume was almost eight times the 20-day average, according to Bloomberg data.
Bosch Falls For Fourth Session In A Row
Shares of Bosch Ltd. fell as much as 2.64 percent, for the fourth straight day, to Rs 13,017 apiece.
The company said it will observe “no production days” ranging up to 10 days per month throughout September at its plants to meet sales requirements, according to an exchange filing.
The relative strength index of stock is below 30, indicating it may be ‘Oversold’.
Yes Bank Rises After Rs 1,930-Crore Fundraise
Shares of Yes Bank Ltd. rose nearly 3.20 percent to Rs 79 apiece.
The private lender said it has raised Rs 1,930 crore through qualified institutional placements, according to an exchange filing. The QIP opened on Aug. 8 and closed on Aug. 14. The bank allotted 23.1 crore equity shares of face value of Rs 2 each to eligible qualified institutional buyers at Rs 83.55 apiece, the filing said.
IDFC Gains On Deal With Former Axis Capital Head
Shares of IDFC Ltd. rose up to Rs. 2.45 percent to Rs. 33.40.
IDFC Ltd. has agreed to sell its entire stake in subsidiary IDFC Securities Ltd. to Axis Capital’s former Managing Director and Chief Executive Director Dharmesh Mehta and other undisclosed investors, according to an exchange filing. The definitive agreement will be signed among the parties shortly. The said transaction will conclude on the receipt of the requisite regulatory approvals, it said.
IDFC’s stock has declined 35 percent in the past one year compared with the Sensex’s 1.7 percent fall.