Benchmark indices ended flat in the volatile session on August 14. LTIMindtree, Divis Labs, Infosys, HUL and Reliance Industries are among the major gainers on the Nifty, while losers included Adani Enterprises, JSW Steel, Hindalco Industries, State Bank of India and Tata Steel. See stocks that buzzed in trade today.
Shares of FSN E-Commerce Ventures Ltd, the parent of Nykaa, lost over 11% to hit an intraday low of Rs 130 after it posted weaker June quarter earnings. Kotak Institutional Equities have downgraded the stock to 'add' from 'buy' and cut its target price to Rs 165 from Rs 210 earlier. Nomura too lowered the rating to 'neutral' from 'buy' and reduced the target price to Rs 163 from Rs 183. The scrip closed at Rs 134.10
JK Cement shares fell around 5% to an intraday low of 3,101.30 on NSE after the company reported a 29.5% YoY decline in the consolidated net profit for the June quarter at Rs 114.7 crore. YTD, the stock has risen 6.11%. The stock has a trailing PE of 63.45x, the highest among its cement-making peers. The stock ended at Rs 3,134.00
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Shares of Jindal Steel and Power Ltd slipped 5% to hit an intraday low of Rs 658.15 on NSE, after the company’s June quarter net profit declined YoY. The company’s quarterly net profit came in at Rs 1,686.94 crore in June 2023 down 14.4%. The scrip closed at Rs 662.90
Shares of PVR Inox traded surged 5% to a 52-week high of Rs 1,732.00 on NSE after the multiplex chain reported highest-ever daily and weekend admissions and box office collections. Over the weekend, PVR Inox reported that the chain had entertained around 33.6 lakh guests and earned a box office revenue of more than Rs 100 crore. This weekend saw strong box office performances from Gadar 2 (Hindi), Jailer (Tamil) and OMG2 (Hindi). The scrip ended at Rs 1,717.00
Muthoot Finance shares dropped 6% to an intraday low of Rs 1,236.55 on NSE after Morgan Stanley downgraded the stock, citing risks to growth and yields as competition heats up. The gold loan financing company reported standalone profit of Rs 975 crore for Q1FY24, up 22% YoY. The scrip closed at Rs 1,276.50
City Union Bank dropped 6% to an intraday low of Rs 120.50 on NSE after the Tamil Nadu-based private sector lender’s net interest income dropped and asset quality worsened in the June quarter. The bank reported a profit of Rs 227 crore, up 1% from the year-ago period. The scrip closed at Rs 121.60
Shares of Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Wilmar Ltd, Adani Green Energy Ltd and other Adani group stocks fell up to 3% in intraday trade as markets regulator SEBI, sought an additional 15-day extension from the Supreme Court to submit its report on the US-based short seller Hindenburg Research's allegations against the Adani Group. The report was expected to be submitted early this week
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