Stocks that made news today: Nestle, Unitech and more

Domestic stock markets continued to witness selling pressure on Wednesday on the back of rupee depreciation, monsoon concerns and continued selling from foreign portfolio investors. As a result, the BSE Sensex tanked 351.18 points to 26,837.20, the NSE Nifty fell 101.35 points to 8,135.10.

Below are some stocks which stayed in limelight today:

Nestle: The company's shares continued to remain under pressure and corrected further by 9.05 per cent to Rs 6,191.10 amid ongoing probe against it with respect to composition of its product Maggi. The government has banned the popular snack in Delhi for 15 days. During the day, Nestle's scrip touched a high of Rs 6,533 and low of Rs 6,000.

Unitech and Jaiprakash Associates: Shares of real estate companies Unitech and Jaiprakash Associates plunged 35.27 per cent and 20.67 per cent to Rs 8.70 and Rs 13.05, respectively, on Wednesday as hopes of another rate cut by the Reserve Bank of India in the near-term dipped. Gaurav Jain, director, Hem Securities, said: "Unitech and Jaiprakash Associates shares slid on the rumours of debt repayment default." Among the sectoral indices on the BSE, the Realty index declined the most - 5.54 per cent to 1,419.24.

BEML : Shares of the PSU under the Ministry of Defence jumped 1.94 per cent to Rs 1,058.70 after the company said it had opened its district office in Leh. BEML has become the first defence public sector company that has an office in Leh.
"This office will be extending after sales support to its mining and construction equipment deployed through DGBR and E-In-C," it said in a filing on the BSE.

Larsen & Toubro (L&T): The construction major bagged a Rs 468-crore contract from the Ministry of Defence for the design and construction of a floating dock for the Indian Navy (FDN). "The floating dock will be capable of docking naval ships and submarines of up to 8000 T displacement with draughts up to 7 m, during day and night," said MV Kotwal, President, Heavy Engineering and Board Member. Shares of L&T closed at Rs 1652.90, down 1.16 per cent against its previous close.