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Last Updated : Aug 08, 2019 10:58 AM IST | Source:

D-Street Buzz: Tata Motors, HCL Tech jump 2-3%; Airtel hits 52-week high, Motherson Sumi falls

India VIX is down 1.97 percent and is trading at 16.41.

Sandip Das @Im_Sandip1

Indian benchmark indices are trading on a positive note with Nifty up 39 points to 10,894 while the Sensex jumped 131 points to 36,822.

Nifty PSU Bank along with the realty index have added over a percent each. The top performers from the PSU banking space are Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank and State Bank of India.

The top gainers from the real estate space are Indiabulls Real Estate, DLF, Sobha and Sunteck Realty.


Nifty Auto added half a percent led by Tata Motors, which jumped 2 percent followed by Hero MotoCorp, Maruti Suzuki, Bosch and Ashok Leyland. However, Motherson Sumi Systems is down over 5 percent.

From the oil & gas space, HPCL and Reliance Industries added a percent each. Nomura has a buy rating on the stock with target at Rs 380 per share adding that valuation at 1x FY21e P/BV & 4.5x FY21e P/E looks attractive.

Shares of Cipla fell over 3 percent intraday on August 8, after the company reported muted numbers in the quarter ended June 2019, on the back of declining revenues in India and South Africa that constitutes nearly half of the company's sales. CLSA downgraded the stock from Outperform to Sell on dismal Indian sales slashing the target price to Rs 460 from Rs 600. It also cut EPS estimates over FY20-22 by 9-14 percent citing absence of a near-term catalyst.

HCL Technologies rose more than 3 percent as brokerages are maintaining the buy rating on the stock despite company posted decline in its Q1 net profit on August 7.

India VIX is down 1.97 percent and is trading at 16.41.

The top Nifty50 gainers include HCL Tech which is up 3 percent followed by Bharti Infratel, JSW Steel, Bharti Airtel and Hindalco Industries while the top losers are Cipla, Tata Steel, IndusInd Bank, Indiabulls Housing Finance and Axis Bank.

The most active stocks are Indiabulls Housing Finance, Reliance Industries, Tata Steel, YES Bank and Affle (India).

Bharti Airtel jumped over 2 percent hitting fresh 52-week high on BSE while GSPL and HDFC Life also hit new 1-year high in the morning trade.

169 stocks have hit 52-week low on BSE including Motherson Sumi Systems, Tata Steel, Indiabulls Housing Finance, Exide Industries and GAIL India among others.

886 stocks advanced and 721 declined while 478 remained unchanged on the NSE. On the BSE, 969 stocks advanced, 830 declined and 91 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 Aug 8, 2019 10:57 am
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