The benchmark stock market indices were trading in the red on Thursday. The S&P BSE Sensex was down 169.35 points, or 0.43%, to 39,587.46 at 1:30pm, while the Nifty 50 index fell 50 points, or 0.42%, to 11,856.20. Here are the 10 stocks that are in news today:
Yes Bank: Shares of Yes Bank slumped nearly 13% in intraday trade on Thursday after foreign brokerage UBS cut its target on the stock to Rs 90, down 47% from its earlier forecast of Rs 170. Jet Airways: Shares of Jet Airways crashed as much as 23% in intraday trade on Thursday after the National Stock Exchange of India (NSE) said on Wednesday that the scrip will be removed from daily trading of futures and options (F&O) effective 28 June.
Sintex: Shares of Sintex Industries were down 10% after the company defaulted on non-convertible debentures (NCD) worth Rs 86 crore. However, in a filing on BSE, the company claims the present liquidity crisis is temporary and will not affect its going concern.
IndusInd Bank: IndusInd Bank shares slide as much as 8.3% after UBS downgraded the stock to sell and cut price target to Rs 1,400 from Rs 1,700 earlier. Reliance Nippon: Reliance Nippon Life Asset Management shares fall nearly 1% on news that Reliance Capital will sell 2.86% stake in the company via offer for sale on 13 and 14 June. The floor price of the sale shall be Rs 212 per equity share of the company.
Eros International: Eros International shares drop by another 5% after rating agencies categorised the company’s debt at default levels earlier this week. However, Eros International said that it has taken steps to rectify delays in loan payments.
Tata Motors: Tata Motors shares decline 2.7% after total global wholesale sales fell 23% year-on-year at 82,374 units in May. JLR global sales stood at 39,895 units.
Bharti Airtel: Bharti Airtel shares gain nearly 1% global brokerage firm CLSA remained positive on the stock on strong operational growth in its Africa business.
SAIL: Steel Authority of India Ltd (SAIL) shares jump 2.2% after a CNBC TV18 report said that the company is likely to auction three loss-making steel plants.
Tiger Logistics: Tiger Logistics shares lost 1.7% after CARE revised the outlook of credit rating for bank facilities to negative from stable.