Concerns of a possible rate hike in US and Greece debt crisis affected market sentiments negatively on Tuesday with the BSE Sensex sliding another 41.84 points to 26,481.25, nearing its eight-month low. The 50-share Nifty ended the day at 8,022 - down 21 points.
"At present, there is no positive trigger... Most of the news flows from international markets and from the domestic front also are not supporting the market," said Alex Mathews, head research, Geojit BNP Paribas Financial Services.
Here are five stocks that made news today:
- Cairn India and Vedanta: Cairn India shares fell about 5 per cent on reports that parent Vedanta Group is close to merging the oil and gas company with its metals and mining firm Vedanta Resources to get access to Cairn India's cash and help reduce debt of the latter. Shares of Vedanta, however, jumped 3.11 per cent to 182.55.
- Unitech: Shares of the realty major closed at Rs 7.91, down 7.70 per cent on reports that the realty major has been asked to compensate buyers by the National Consumer Disputes Redressal Commission (NCDR) with regards to its Gurgaon project. The Bombay Stock Exchange has sought clarification from Unitech on the same.
- Rajesh Exports:The company has bagged an export order worth Rs 1,302 crore of designer range of gold and diamond studded jewellery and medallions from Al Jameelat Jewellery, UAE. Investors cheered the news, with shares of the company jumping 4.14 per cent to 237.50 on Tuesday.
- TVS Srichakra: Shares of the tyre company jumped 3 per cent intra-day before settling 0.32 per cent higher at Rs 1649.25 after the company said it has entered into an agreement with France-based Michelin for setting up a new manufacturing facility within its existing plant at Madurai.