Stock Corner
1.
Maruti
Suzuki India closed around 4% lower to at Rs 9,390 on the NSE, after the
company reported lower-than-expected 26.9% growth in net profit at Rs 19.75
billion in June quarter (Q1FY19). The country’s largest car maker had profit of
Rs 15.56 billion in year ago quarter.
2.
Shares of
YES Bank have slipped 6% to Rs 359 per share on the BSE on profit bookings
after the bank reported 30.5% year on year (yoy) jumped in net profit at Rs
12.6 billion in June quarter (Q1FY19) on the back of healthy growth in net
interest income (NII) & other income.
3.
Cement
stocks firmed up during Thursday’s afternoon trade after reports emerged that
the SC has given its conditional approval to petcoke import. Incidentally,
petcoke is used as an alternative to coal in cement manufacturing.
4.
Idea
Cellular stocks rallied after the Department of Telecommunications (DoT) gave
the final go-ahead for its merger with Vodafone India.
5.
Shares of
Indiabulls Housing Finance were trading higher over 2% and hit 3-month high in
the afternoon trade.
6.
Dr.Reddy's
Labs today announced its decision to launch Hervycta (Trastuzumab), a
biosimilar of Roche's Herceptin in India. This is mainly for the treatment of
HER2-positive cancers (early breast cancer, metastatic breast cancer, and
metastatic gastric cancer).
7.
State-run
Canara Bank reported a surprising 11.9% rise in Q1FY19. Net profit was Rs281cr
for the three months ended June 30, compared with Rs252cr a year ago. Due to
the optimism surrounding the results, the bank surged at over 4%.
Missed call
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