Most of the software services providers were trading higher in trade helped by the weaker rupee.

Shares of the airport operator rose as much as 11 percent, the most in two months, to Rs 8.10 apiece.

The two subsidiaries—GVK Airports Developers Ltd. and GVK Airport Holdings Ltd.—have signed a “term sheet and exclusivity agreement” with the ADIA and the NIIF, according to its stock exchange filing.

The operator of Mumbai’s Chhatrapati Shivaji International Airport said it plans to use the proceeds to reduce debt of up to Rs 5,750 crore.

Shares of the private sector failed to hold on to their opening gains to fall as much as 1.4 percent to Rs 2,261 apiece. The stock went up as much as Rs 2,325 apiece, which was Rs 7 away from its all-time high.

HDFC Bank posted a 23 percent jump in the fourth quarter boosted by a strong loan growth, while its net income climbed to Rs 5,885 crore. The stock has 51 buys, 3 holds and 1 sell, Bloomberg data show.

JM Financial

• Management attributes this to short-term loans to higher-rated corporates
• Provision coverage ratio is best in class at 71 percent; slippage or loans turning sour moderated to 2 percent
• Bank remains top picks in banking sector; maintain buy

Prabhudas Lilladher

• Bank consciously has slowed retail growth in certain segments
• Overall loan growth supported by non-retail which were largely short term
  Management tone on agri loans continues to remain cautious and continues to add to contingent provisions
• Keeping an eye on cost of funds as liabilities seem to be a challenge in near term
• Retain buy, price target raised to Rs 2,700 from Rs 2,371

ICICI Securities

• Bank is consolidating, pacing its loan growth in select retail segments
• Credit cost factoring in risks on its agriculture book
• Muted fee income growth appears temporary mainly due to base effect
• Expect 25 percent EPS CAGR over FY19-21 and return of assets touching 2 percent
• Maintain buy on stock, price target Rs 2,639

Shares of the cash-strapped airline plunged close to 23.2 percent to Rs 126.65 apiece.

Rajshree Pathy and Nasim Zaidi resigned from the position of directors on the company's board, according to an exchange filing. Also, according to a PTI report, its employees have written to President Ram Nath Kovind and Prime Minister Narendra Modi seeking their intervention to recover outstanding dues as well as to expedite the process of emergency funds.

Shares of the Mukesh Ambani-led conglomerate declined close to 3 percent, its biggest intraday fall since Dec. 11, to Rs 1,345.05 per share.

While India’s most valued company reported a record quarterly profit for January to March period, spending by India’s most valued company on its telecommunications business leading to an increased debt still worries analysts.

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