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Stocks in Focus: SpiceJet, Jet Airways soar

YES Bank Q1 results beat estimates with profit jumping 28 per cent to Rs 551 crore year-on-year. The shares of the company were trading 3 per cent higher at Rs 818.75 as of 1:30 pm.

BT Online Bureau   New Delhi     Last Updated: July 29, 2015  | 16:08 IST
Stocks in Focus: SpiceJet, Yes Bank
The BSE building in Mumbai

In the afternoon trade the Sensex was higher by 113 points at 27,572 and the Nifty gained 33 points at 8,370 at 12:30 pm.

SpiceJet shares soared as the company's profit of Rs 71 crore reported on Tuesday along with news on the low-cost carrier clinching at jet- deal with Airbus and Boeing worth $11 billion to acquire about 100 new narrow-body jets. The stock gained 6.57 per cent to Rs 28.35 - its 52-week high - at the BSE but closed at Rs 27.25  up by 2.44 per cent.

Jet Airways however turned to be the highlight for the day zooming almost 18.74 per cent on relative valuation, fuel price cut expectations. Crude oil has plunged nearly 20 per cent this month and was slightly dipped below $47 a barrel on Tuesday.

YES Bank Q1 results beat estimates with profit jumping 28 per cent to Rs 551 crore year-on-year. The shares of the company were trading 3 per cent higher at Rs 818.75 as of 1:30 pm.

Godrej Consumer Products also surpassed street expectations as the  consolidated net profit of the personal care products manufacturer grew by 39 per cent year-on-year to Rs 199.2 crore, driven by strong operational performance. The shares of the company were up by 5.19 per cent standing at Rs 1263 on the BSE as of 1:35 pm.

HDFC was up nearly 1% after the mortgage lender's loan book jumped 13.6% to Rs 2,31,224 crore at the end of June quarter compared to Rs 2,03,384 crore a year ago.


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