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Reliance Communications, HUL and HDFC Bank among stocks in focus today

Banking sector stocks rose up to 46 percent led by Punjab National Bank and Canara Bank among others. The NSE index was up 0.86 percent or 87.65 points higher at 10,295 level. We look at stocks which are likely to be in focus today.

BT Online        Last Updated: October 26, 2017  | 12:43 IST
Reliance Communications, HUL and HDFC Bank among stocks in focus today

The market on Wednesday saw a historic rally with Sensex, Nifty hitting record highs. The BSE Sensex, which breached 33,000 level in early morning trade for the first time ever, closed 435 points or 1.33 percent higher at 33,042 level.

Banking sector stocks rose up to 46 percent led by Punjab National Bank and Canara Bank among others. The NSE index was up 0.86 percent or 87.65 points higher at 10,295 level.

We look at stocks which are likely to be in focus today.

Hindustan Unilever: FMCG major Hindustan Unilever's (HUL) stock is in focus today as the firm reported a 16.42 per cent jump in its standalone net profit at Rs 1,276 crore for the September quarter, taking advantage of lower expenses. The company had posted a net profit of Rs 1,096 crore during the same period of the previous fiscal. The earnings were announced after market hours.  


YES Bank: The private sector lender will announce its Q2 earnings today.

Reliance Communications: Shares of Reliance Communications are in focus today after reports that the debt-ridden company is planning to shut down its wireless telephony business. Yesterday, the stock fell 3.24 per cent to settle at Rs 16.45 on the BSE. Reliance Communications plans to shut down its loss-making wireless telephony business by November 30 and concentrate only on 4G Internet services, according to sources.

HDFC Bank: HDFC Bank  which recently reported a 20.1 percent net profit has said the Reserve Bank has asked it to classify a contentious loan which had led to a jump in its provisions in September quarter results, as a non-performing asset (NPA). Without divulging any details like the exact exposure and the sector from where the account comes, the bank had said that it is a standard account which was performing as per a loan recast approved by a joint lenders forum (JLF) in February 2016 under the 5:25 framework.

Public sector banking stocks: Stocks of public sector banks are in focus today after they zoomed up to 46 percent in yesterday's trade on Rs 2.11 lakh crore recapitalisation plan. Banking sector stocks rose up to 46 percent led by Punjab National Bank and Canara Bank among others. Punjab National Bank (46.20 percent), Bank of Baroda (31.47 percent), Bank of India (33.96  percent), Union Bank (34 percent ) and Canara Bank (38.05 percent) gained the most on BSE.

 

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