Gainers & Losers: TCS, Airtel, Vodafone Idea among 7 stocks that were in limelight today

Adani Group’s announcement of bidding for 5G spectrum spooked investors of Bharti Airtel. Telecom analysts say Adani might make a full-fledged foray into the telecom market at a later stage. Airtel shares slumped 5.2 per cent to hit the day's low at Rs 658.95 on NSE.

Shares of the Vodafone Idea rallied up to 6.5 per cent to Rs 8.95 on NSE amid speculation that the debt-ridden telecom player might end up gaining as a result of Adani’s telecom foray.

Amid reports that the government will speed up the divestment process of the PSU company, shares of Shipping Corporation of India (SCI) rallied up to 8.3 per cent to hit a day’s high at Rs 106.3. An Inter Ministerial Group (IMG) was scheduled to meet today to discuss the SCI divestment process.

Paytm shares rallied nearly 3 per cent to hit a day’s high at Rs 719 after the company said loan disbursals in the June quarter jumped nearly nine times in value to Rs 5,554 crore from Rs 632 crore in the year-ago quarter.

Shares of India’s top IT exporter slipped nearly 5 per cent to Rs 3,112 on NSE as investors were left disappointed with TCS’s June quarterly numbers where the profit rose 5.21 per cent year-on-year (YoY) at Rs 9,478 crore. Ebit margin stood at 23.1 per cent in the June quarter compared with 25 per cent in the March quarter and 25.5 per cent in the June quarter last year.

TCS’ results also spoiled investor appetite for other IT stocks amid fear of margin compression and the impact of a possible slowdown in the US and European markets. HCL shares dipped 4.5 per cent to Rs 940 on NSE ahead of results tomorrow.

Shares of KSB Ltd zoomed over 9 per cent after the company said it received orders of around Rs 500 crore from the Nuclear Power Corporation of India. The stock, however, ended the day 2.7 per cent down at Rs 1,446.70.