The benchmark indices closed higher on August 6 after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 percent. The Sensex ended the day 362.12 points or 0.96 percent higher at 38025.45 and the Nifty was up 98.50 points or 0.89 percent at 11,200.20. About 1,567 shares advanced, 1,056 shares declined and 167 shares remained unchanged.
2/11
Birlasoft | CMP: Rs 144 | The stock surged over 15 percent after the company reported a nearly 35 percent rise in consolidated net profit for Q1 FY21. Birlasoft, a part of the $2-billion diversified CK Birla Group, on August 5 reported a consolidated net profit of Rs 56.3 crore for the June 2020 quarter. The company had posted a profit of Rs 41.8 crore for April-June 2019, Birlasoft said in a regulatory filing.
3/11
Hindustan Zinc | CMP: Rs 236.95 | The share price jumped over 8 percent after Citi maintained a buy call on the stock and raised the target to Rs 240 from Rs 205 per share. The firm is of the view that the company has largely tended to move in tandem with zinc LME and has a bullish view on silver. Strong dividend yield expectations augur well, according to a report by CNBC-TV18.
4/11
IDBI Bank | CMP: Rs 39.10 | The stock ended in the green after the bank said it had entered into a share purchase agreement (SPA) with Ageas Insurance International NV and the Federal Bank wherein IDBI Bank agreed to sell up to 27 percent stake in its joint venture arm IDBI Federal Life Insurance Company.
5/11
Gold-loan stocks falter | Shares of Muthoot Finance slipped over 3 percent while those of Manappuram Finance shed over a percent after the RBI increased in loan to value (LTV) ratio for gold loans, which is negative for gold loan financing companies, experts feel. As per extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery for non-agricultural purposes should not exceed 75 percent of the value of gold ornaments and jewellery, the RBI said. But now the LTV on gold loans has been increased to 90 percent.
6/11
Steel Strips Wheels | CMP: Rs 424.95 | The stock price gained 2 percent after the company bagged export orders for over 6,000 wheels for US Truck and Caravan Trailer Market to be executed in August from its Chennai plant.
7/11
Indoco Remedies | CMP: Rs 250.50 | Shares spiked 7 percent after the company announced getting approval for its ANDA for Olanzapine Tablets USP 2.5mg, 5mg, 7.5 mg, 10mg, 15mg and 20 mg. The products are therapeutically equivalent to the Reference Listed Drug ‘Zyprexa’ of Eli Lilly.
8/11
Vivimed Labs | CMP: Rs 12.90 | The share price jumped 5 percent after the company received an export order for the supply of 'Favulous' tablets 200 mg (Favipiravir) that is used for the treatment of mild to moderate cases of COVID-19.
9/11
Adani Gas | CMP: Rs 152.90 | The stock shed over 3 percent after the company's net profit fell 42 percent to Rs 46 crore during the quarter ended 30 June from Rs 79 crore in the same quarter of the previous fiscal.
10/11
Unichem Laboratories | CMP: Rs 263.15 | The stock gained a percent after the pharma company received ANDA approval for its Tolterodine Tartrate Tablets, USP 1 mg and 2 mg from the United States Food and Drug Administration to market a generic version of DETROL (tolterodine tartrate) tablets of Pfizer Inc.
11/11
National Fertilizers | CMP: Rs 37.45 | The stock was up over 2 percent after the company recorded all-time high fertilizer sales of 18.79 lakh MT in April-July, 2020, a growth of more than 20 percent YoY.
