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Wipro, KPIT and Idea among top 10 stocks that hogged limelight in today's trade

Wipro, KPIT and Idea among top 10 stocks that hogged limelight in today's trade

KPIT zoomed over 17 per cent in trade on Friday after the IT consulting and software firm reported a whopping 69 per cent QoQ net profit growth.

BusinessToday.In
  • New Delhi,
  • Updated Oct 23, 2015 4:44 PM IST
Wipro, KPIT and Idea among top 10 stocks that hogged limelight in today's tradeMarket breadth remained fairly positive with 20 of the 30 Sensex stocks ending the day in green. Photo: Reuters

Marking their fourth consecutive week of gains, the domestic markets ended about 1 per cent higher on Friday, tracking global markets that rose after the European Central Bank (ECB) on Thursday signaled its readiness to inject more stimulus.

The S&P BSE Sensex ended 183.15 points up to close below its crucial psychological level of 27,500 after rising as much as 267 points in the early trade, while broader CNX Nifty settled a tad below its key support level of 8,300-mark at 8,295.45, up 43.75 points. 

Market breadth remained fairly positive with 20 of the 30 Sensex stocks ending the day in green.

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Here are top stocks that are in focus today:

  • Wipro: Shares of Wipro fell 2 per cent in trade on Friday after country's third-biggest software services exporter reported a 7.2 per cent rise in quarterly profits on Wednesday after market hours but forecast a tepid quarter ahead due to furloughs in the US and Europe. The stock ended 1.68 per cent down and fell 1.99 per cent during the day on the Bombay Stock Exchange (BSE).
  • KPIT Technologies: Shares of KPIT Technologies zoomed over 17 per cent in trade on Friday after the IT consulting and software firm reported a whopping 69 per cent quarter-on-quarter net profit growth in the September quarter to Rs 75.08 crore on strong improvement in operating profit performance. The company had reported Rs 44.41 crore net profit in the June quarter. The stock ended 9.32 per cent up at Rs 134.85 after hitting an intraday high of Rs 144.65, up 17.26 per cent on BSE.
  • HCL Infosystems: Shares of HCL Infosystems slipped over 8 per cent in trade on Friday, after the IT services and distribution firm reported widening of consolidated net loss to Rs 49.24 crore for the first quarter ended September 30, 2015. The company follows July-June quarter. The scrip ended the day 4.50 per cent down after hitting an intraday low of Rs 54.80, down 8.66 per cent, on the BSE.
  • Idea Cellular: Shares of Idea Cellular slumped nearly 9 per cent in trade on Friday after the mobile operator posted quarterly net profit slightly below analysts' expectations, hit by cheaper call rates. The stock ended the day 7.29 per cent down after hitting an intraday low of Rs 138, down 8.97 per cent.
  • Srei Infrastructure Finance: Shares of Srei Infrastructure Finance tumbled over 9 per cent in trade on Friday, adding to 4.64 per cent decline in the previous session after US-based American Tower Corp (ATC) agreed to buy a majority stake in telecom tower firm Viom Networks for Rs 7,635 crore in an all-cash deal. SREI Infrastructure owns 18.50 per cent stake in Viom. The stock ended the day 7.94 per cent lower after hitting an intraday low of Rs 50.30 , down 9.28 per cent on the Bombay Stock Exchange (BSE).
  • Cairn India: Mining billionaire Anil Agarwal-controlled Cairn India ended 2.73 per cent up even as the company reported a 70 per cent plunge in September quarter net profit on oil prices dipping to their lowest levels in six years. It posted net profit at Rs 673 crore or Rs 5.54 per share in July-September compared with Rs 2,278 crore or Rs 13.77 per share in the same period a year ago.
  • Reliance Communications: Shares of Reliance Communications ended 2.28 per cent down after the telecom operator announced plans  to roll out a 3G ICR-like roaming agreement to continue 2G service in Bihar, West Bengal and Assam after its right to use 2G spectrum expires in December.
  • Maruti Suzuki: Maruti Suzuki shares ended 2 per cent down after the company hiked wages of temporary workers of its Gurgaon and Manesar plants, including those of Suzuki Powertrain, by an average 10 per cent a month. The increase is effective from April 2015 onwards and arrears have been paid to the temporary workmen along with last month's salary.
  • Cadila: Shares of Cadila Healthcare ended 2.59 per cent up after the pharma firm posted 40.56 per cent jump in consolidated net profit to Rs 390.91 for the second quarter ended on September 30, 2015-16. "The Group has posted a net profit after taxes, minority interest and share in profit of associates of Rs 390.91 crore for the quarter ended September 30, 2015 as compared to Rs 278.09 crore for the quarter ended September 30, 2014," Cadila said in a BSE filing.
  • Indiabulls Real Estate: Indiabulls Real Estate ended nearly 4 per cent down at Rs 64.65 after the realty firm received approval from a UK authority for the plan to redevelop its project in London. Last year, the company had entered the London market with acquisition of 22, Hanover Square in Mayfair, Central London, a 87,444 sq ft commercial property for Rs 1,630 crore.

 

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Oct 23, 2015 4:40 PM IST
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