Indian stock markets were trading flat on Monday ahead of the start of the Winter Session of the Parliament. At 10:35 am, the benchmark S&P BSE Sensex rose 9.48 points, or 0.02%, to 40,366.17, while the Nifty 50 index was up 7.95 points, or 0.07%, at 11,903.40.
BPCL, Bharti Airtel, RCom, Glenmark Pharmaceuticals, Vodafone Idea, Tata Steel, Tata Motors and RIL were among the key stocks in news today. Read on to know more:
BPCL: Bharat Petroleum Corp. Ltd (BPCL) shares jump 4% after finance minister Nirmala Sitharaman said that the government is aiming to sell its stake in the company by March 2020.
Bharti Airtel: Bharti Airtel Ltd shares advanced over 5% after the company withdrew its bid to purchase assets of Reliance Communications after terming the move of committee of creditors to extend the bid submission deadline on the request of Reliance Jio as “extremely unfair” and “biased”.
RCom: Reliance Communications Ltd (RCom) shares jumped 8.3% after Anil Ambani resigned as director of the company.
Glenmark Pharma: Glenmark Pharmaceuticals Ltd shares shot up 9% after global research firm CLSA upgraded the stock to ‘buy’ from ‘sell’ and raised target to Rs 410 from Rs 350.
Vodafone Idea: Vodafone Idea Ltd shares zoomed 23% after a media report mentioned that the company believes the government will not be in conflict with the Supreme Court if it does provide any relief for payments ordered by the apex court, according to brokerages.
Tata Steel: Tata Steel Ltd shares rose 3% after S&P revised the company’s rating outlook to ‘stable’ from ‘positive’.
Tata Motors: Tata Motors Ltd shares jumped 2% after the board approved issue of non-convertible debentures (NCD) worth Rs 500 crore.
RIL: Reliance Industries Ltd (RIL) shares inched up 1% after Essar Steel, Adani Group and state-owned GAIL (India) Ltd bought a majority of natural gas from the company’s newer fields in the KG-D6 block at an indicative price of $5.04-5.10 per unit, according to a report.
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