Stocks that made news today: Emami, ITC, BHEL and more

The Reserve Bank of India's (RBI) upward revision of inflation expectation and the prospects of 'deficient' monsoon have clearly put brakes on the rate-cut-fuelled market rally. Selling pressure was witnessed across the board but rate-sensitive sectors were hit the worst during the day's trade.

While the BSE Sensex plunged 660 points to close at 27,188, the NSE Nifty fell 197 points to 8,236.

The below stocks stayed in the limelight during the day:

1. Rate-sensitive stocks: The BSE Realty index, BSE Bankex, BSE Auto tanked 3.83 per cent, 3.46 per cent and 2.08 per cent, respectively, as rate-sensitive stocks tanked after the central bank took a cautious stand on economic recovery.
2. Emami: Shares of the company shed 5.8 per cent after the company entered an agreement with Sanjeev Juneja to acquire his hair and scalp care business under 'Kesh King' and allied brands. The acquisition will be funded by a judicious mix of surplus funds, short term & long term debt and the process is expected to be completed in a month's time. At the end of the day, the share price of Emami was at Rs 1,066.15.
3. ITC: The FMCG major's shares fell 3.95 per cent to Rs 318.90 after Maharashtra put a ban on the sale of loose cigarettes. Shares of the company had opened the day at Rs 329.60 and touched a high and low of Rs 329.70 and 317.60, respectively.
4. Bharat Heavy Electricals (BHEL): The power generation machinery maker has bagged its largest order, amounting to Rs 17,950 crore, from Telangana State Power Generation Corp (TSGENCO) to set up a 4,000 MW plant at Yadadri. Shares of the company closed at Rs 251.30, down 1.04 per cent lower than its previous close.
5. Reliance Industries (RIL): The company has sold its 49.9 per cent stake in a US joint venture that owns a pipeline network for transportation of shale oil and gas, to New York-listed Enterprise Products Partners for $1.07 billion. Shares of the oil and gas major ended the day 0.29 per cent lower at Rs 898.70.