Stock Corner
1.
Shares of
Bandhan Bank surged 6% to Rs 596 on the BSE after the bank reported a strong
47.5% year on year (yoy) growth in net profit at Rs 4.82 billion in June
quarter (Q1FY19), on back of strong operational income. The private sector
lender had a profit of Rs 3.27 billion in year ago quarter.
2.
UltraTech
Cement on Wednesday reported a first-quarter net profit of Rs 5.98 billion
($87.15 million), beating street estimates. Revenue from operations stood at Rs
86.55 billion.
3.
Shares of
telecom services providers (telcos) are under pressure with all major listed
stocks – Bharti Airtel, Idea Cellular and Tata Communications – hitting their
respective 52-week lows on the BSE, on concerns of weak earning in June quarter
(Q1FY19).
4.
Shares of
Ashok Leyland hit an over five-month low of Rs 119 per share, down 8% on the
BSE, in otherwise firm market despite the company reporting a better than
expected net profit for the quarter ended June 2018 (Q1FY19).
5.
Reliance
Industries Ltd., India’s second-largest company by market value, plans to raise
about Rs 400 billion ($5.8 billion) in fresh debt this financial year as it
expands its consumer businesses, according to people familiar with the matter.
Missed call
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