Stocks in news today: Chennai Petroleum, ITC and more

The key benchmark indices kicked off the week on a negative note. The BSE Sensex and NSE Nifty plunged 313 points and 88.70 points to 27643.88 and 8370.25, repsectively.

According to market experts, the domestic markets fell mostly tracking the global cues. The fear of interest rate hike in US and the Greece issues kept the markets under pressure. Also the profit booking ahead of May month F&O expiry led to the fall.
Below are some of the stocks which stayed in the limelight today.

Canara Bank: The Canara Bank stock tanked 5.10 per cent to Rs 335.20 on Monday after the public sector lender posted earnings below expectations on deteriorating asset quality.
For the quarter ended March 2015, the bank posted net profit of Rs 612.96 crore, up 0.35 per cent, against Rs 610.83 crore in the corresponding quarter a year ago.
Asset quality of the bank weakened in the last quarter of FY15. During January-March, gross non-performing assets (GNPA) of the company jumped to Rs 13,039.96 crore, up 72.25 per cent, against Rs 7,570.21 crore in the corresponding quarter a year ago.
Net NPA ratio increased to 2.65 per cent for the quarter ended March 2015 from 1.98 per cent as at March 2014 and from 2.42 per cent at December 2014.

Chennai Petroleum Corporation: Shares of Chennai Petroleum Corporation surged 19.98 per cent to Rs 108.05 after the company announced its fourth quarter earnings on Monday.
For the quarter ended March 2015, the company registered net profit of Rs 364.57 crore, up 631.92 per cent, against Rs 49.81 crore in the corresponding quarter a year ago.

Lupin: Stocks of drugmaker Lupin gained 1.10 per cent to Rs 1,754.70 on Monday as the company is set to replace private power producer Tata Power in the benchmark Sensex. The reconstitution in the BSE indicex will be effective June 22, the exchange had said in a statement on Friday.

ITC: The share price of ITC fell 3.29 per cent after country's largest cigarette maker reported on Friday lower-than-expected earnings as higher taxes on smokes and a government push to discourage tobacco consumption hurt business. For the quarter ended March 2015, the company reported standalone net profit of Rs 987.22 crore, up 4.50 per cent, against Rs 944.73 crore in the corresponding quarter a year ago. Net sales of the company grew 0.47 per cent year-on-year to Rs 9,188.25 crore for the quarter under review.