Produced by: Prashun Talukdar Designed by: Mohsin Shaikh
"Markets gyrated sharply in volatile trades as key indices erased most of their early gains to end marginally higher amid selective buying in auto, realty, metals and oil & gas stocks, whereas banking stocks fell the most. A sharp jump in crude oil prices and fresh uptick in US bond yields have made investors jittery, which dampened the sentiment," said Prashanth Tapse, Senior VP (Research) at Mehta Equities. On the stock-specific front, Polycab India, Cochin Shipyard, Lupin and few other counters will be in focus today.
Shares of Cochin Shipyard moved 3.52% up to close at Rs 1,337.40 in the previous trading session. The stock will turn ex-split from Rs 10 to Rs 5 today.
Shares of Lupin Ltd rose 0.98% to close at Rs 1,396.05. The pharma major said it has launched Bromfenac Ophthalmic Solution, 0.07%, after receiving an approval from the United States Food and Drug Administration (US FDA). Lupin also said it is the exclusive first-to-file for this product and is eligible for 180-day exclusivity.
KIOCL Ltd shares fell 1.38% to close at Rs 369.10. The company said operation of its pellet plant unit, situated at Mangalore, has been temporarily suspended due to non-availability of iron-ore fines.
Shares of Power Finance Corporation Ltd slipped 3.04% to settle at Rs 393.70. The company said it has received no objection letter from Reserve Bank of India (RBI) for setting up of a Finance Company (as a wholly owned subsidiary) in International Financial Services Centre (IFSC) situated in GIFT City, Gujarat.
Shares of Polycab India Ltd tanked 8.93% to close at Rs 4,867.55. The wire and cable manufacturer has refuted rumours of tax evasion. Separately, exchanges have sought clarification from the company on a report titled "Polycab share price tanks on reports of over Rs 200-crore tax evasion, companies denies allegations".
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.