With the markets being volatile on Thursday with the stock exchanges trading in red in the afternoon session reversing the morning gains, here are the five stocks that were in news today:
- Cairn India: Fund firm Aviva Investors on Wednesday said it opposed a $2.3 billion plan by Vedanta Ltd to buy out minority shareholders in Cairn India as the deal failed to deliver sufficient value. Aviva's UK equity team has a 4.3 per cent stake in Cairn Energy, the original owner of Cairn India and still its largest minority shareholder. Its shares fell by 1.10 per cent to close at Rs 165.70 apiece on Thursday.
- Siemens: Siemens Ltd's on Wednesday posted a 12-fold surge in standalone net profit at Rs 168.25 crore for the quarter ended June 30, due to operational excellence. The company's net profit was Rs 12.99 crore in the quarter ended on June 30, 2014, Siemens said in a BSE filing today. Its shares rose by 1.74 per cent to close at Rs 1521.60 apiece on Thursday.
- Indraprastha Gas Limited (IGL): The sole supplier of CNG and piped cooking gas in the national capital, on Wednesday reported 11 per cent drop in the June quarter net profit on lower realisation from industrial and commercial users. Its net profit in the April-June period fell to Rs 101.84 crore, as against Rs 114.03 crore a year ago due to lower realisation in industrial and commercial segment of piped natural gas, the company said in a statement. IGL posted 4 per cent rise in turnover to Rs 992 crore in the first quarter of the current fiscal, from Rs 957 crore in the year-ago period. Its shares rose by 5.04 per cent to close at Rs 504.05 apiece on Thursday.
- Tata Chemicals: Tata Chemicals on Wednesday reported a 13 per cent drop in consolidated net profit at Rs 153.04 crore for quarter-ended June 2015 on account of delayed implementation of urea policy and payment of fertiliser subsidies by the government. Its net profit stood at Rs 175.5 crore during the April-June quarter in the last financial year. Its shares fell by 0.21 per cent to close at Rs 482.70 apiece on Thursday.
- Bajaj Electricals: Bajaj Electricals on Thursday reported over three-fold increase in net profit at Rs 20.34 crore for the quarter ended June 30. The company had posted a net profit of Rs 5.63 crore in the same quarter of the previous fiscal, Bajaj Electricals said in a BSE filing. Net sales during the period under review stood at Rs 1,005.86 crore, up 13.95 per cent as against Rs 882.71 crore in the same quarter of the last fiscal, it added. Its shares rose by 4.77 per cent to close at Rs 273.65 apiece on Thursday.