Sensex closed 273 points, or 0.71 percent, higher at 38,900.80 and Nifty settled 83 points, or 0.73 percent higher at 11,470.25. Midcaps outperformed as their sectoral index on BSE closed 1.16 percent higher. BSE Smallcap index closed 0.54 percent up. Here are 10 stocks that moved the most today:
Telecom stocks end mixed | Share price of telecom stocks ended mixed on September 1 after the Supreme Court announced its verdict with respect to adjusted gross revenue (AGR) dues case. Bharti Airtel rallied almost 7 percent and Reliance Communications gained 4, whereas Vodafone Idea plunged 13 percent. Bharti Infratel shed 4 percent while Tata Communications ended with loses of 1 percent.
Adani Power | CMP: Rs 38.80 | The stock jumped 4 percent after the Supreme Court allowed the company to recover compensatory tariff from Rajasthan discoms, CNBC-TV18 reported. The apex court upheld an APTEL order allowing Adani to recover from Rajasthan discoms the higher cost of imported coal . The compensatory tariff will be calculated from 2013.
Escorts | CMP: Rs 1117 | The share price gained almost 3 percent after the company reported strong auto sales for the month of August. It reported an 80 percent growth in tractor sales during the month. Domestic sales jumped 79.4 percent to 6,750 units against 3,763 units in July, while exports rose 90.4 percent to 518 units from 272 units in the previous month.
Biocon | CMP: Rs 405.80 | The stock price jumped over 7 percent after the company announced the launch of a diabetes drug in the US market. As per a regulatory filing on BSE, Biocon Biologics India, a subsidiary of Biocon, and Mylan N.V., announced the US launch of Semglee™ (insulin glargine injection) in a vial and pre-filled pen presentations, approved to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.
NTPC | CMP: Rs 99.90 | The share price gained over 3 percent after the company said it would seek shareholders' nod to raise up to Rs 15,000 crore through issuance of bonds in the annual general meeting scheduled for next month. The funds are proposed to be raised on a private placement basis in one or more tranches not exceeding 30, as per the company's notice for the annual general meeting (AGM).
Reliance Power | CMP: Rs 3.27 | The stock shed over 4 percent after the company said it had defaulted on payment of principal and interest totalling to Rs 300.22 crore. The company, in a regulatory filing on September 1, said it had defaulted on a term loan from Axis Bank, YES Bank, IDBI Bank and Laxmi Vilas Bank. The company defaulted on payment of Rs 300.22 crore, including interest amount of Rs 2.22 crore on July 31, 2020, it said in a BSE filing.
Eicher Motors | CMP: Rs 2131.80 | The stock price gained almost 2 percent after the copany declared its auto sales numbers for the month of August. The company has sold 50144 motorcycles during August 2020, as compared to 52904 units in August 2019, a drop of 5 percent YoY. It sold 46357 units of models with engine capacity upto 350cc in August 2020 as against 44694 units in August 2019, registering a drop of 4 percent YoY. Exports stood at 2573 units in August 2020 as against 4152 units in August 2019, a growth of 38 percent YoY.
BEML | CMP: Rs 692.75 | The share price was up over 3 percent after the company bagged an order from Ministry of Defence for supply of 330 high mobility vehicles for Pinaka project at a value of Rs 842 crore.
Maruti Suzuki | CMP: Rs 6911.60 | The stock added a percent after the company reported a 21.7 percent YoY growth in domestic sales to 1,15,325 units in August aided by a quick recovery in demand for entry level cars, hatchbacks and utility vehicles. The company witnessed wholesale of 94,728 units in the year-ago period.
Bharat Dynamics | CMP: Rs 385 | The share price shed 3 percent after the company posted a net loss of Rs 78.04 crore in the quarter ended June 2020 as against a net profit of Rs 65.55 crore during the previous quarter ended June 2019. Sales of the company also declined 97.74 percent to Rs 9.77 crore in the quarter ended June 2020 as against Rs 431.54 crore during the previous quarter ended June 2019.
