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Last Updated : Jul 26, 2019 12:15 PM IST | Source:

D-Street Buzz: Banks rally led by YES Bank, PNB; Eicher Motors jumps 4%, IOC slips

The top gainers from NSE include YES Bank which spiked 8 percent followed by Bajaj Finance, Bajaj Finserv, Eicher Motors and Indiabulls Housing Finance while the top losers are Vedanta, IOC, Britannia Industries, Bharti Airtel and Tech Mahindra.

Sandip Das @Im_Sandip1

Benchmark indices rebounded amid volatility, with the Nifty trading above 11,250 level on first day of August series.

The BSE Sensex is up 107 points at 37,938 and the Nifty50 gained 40 points at 11,292.

At 11:55 hrs, Nifty PSU Bank is the outperforming sector, up over 2 percent followed by auto and the pharma sectors.


From the PSU banking space, the top gainers are Punjab National Bank which jumped over 4 percent followed by Union Bank of India, Bank of Baroda, Bank of India, Canara Bank and IDBI Bank.

Global research firm Credit Suisse has upgraded Bank of Baroda to neutral with target at Rs 115 per share. It expects profitability to remain muted due to the merger adding that quick re-rating is unlikely given its expected slow growth. It has cut EPS by 3-7 percent on weaker profitability.

The top gainers from the auto space are Eicher Motors, Tata Motors, Hero MotoCorp, Mahindra & Mahindra, TVS Motor Company, Ashok Leyland and Tata Motors DVR.

Morgan Stanley has an equal-weight on Tata Motors with target at Rs 192 per share while Jefferies has a buy rating with target at Rs 200 per share.

Selective pharma stocks are buzzing in this morning session led by Aurobindo Pharma, Piramal Enterprises, Glenmark Pharma and Cadila Healthcare.

However, Nifty IT is trading in the red dragged by Infosys, Tech Mahindra and Tata Consultancy Services while from the oil & gas space, the top losers are Indian Oil Corporation which is down close to 3 percent followed by GAIL India and Reliance Industries.

India VIX is down 1.34 percent and is trading at 12.47 levels.

The top gainers from NSE include YES Bank which spiked 8 percent  followed by Bajaj Finance, Bajaj Finserv, Eicher Motors and Indiabulls Housing Finance while the top losers are Vedanta, IOC, Britannia Industries, Bharti Airtel and Tech Mahindra.

The most active stocks are Bajaj Finance, YES Bank, Tata Motors, Reliance Industries and Bajaj Finserv.

343 stocks have hit 52-week low on BSE including Tejas Networks, Khadim India, NDTV, Reliance Naval, Duke Offshore, GE T&D, McLeod Russel, JBF Industries, M M Forgings, Sundram Fasteners, Godrej Agrovet, Sadbhav Engineering, Gravita India, PTC India, GAIL India, Aban Offshore and eClerx Services among others.

950 stocks advanced and 715 declined while 346 remained unchanged on the NSE. On the BSE, 1147 stocks advanced, 1017 declined and 103 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.


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First Published on Jul 26, 2019 12:15 pm
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