IOC, REC mixed on MSCI inclusion, Divi’s Labs drops on exclusion
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NEW DELHI: Shares of state-run Indian Oil Corporation (IOC) and Rural Electrification (REC) advanced over 1 per cent each, while drug-maker Divi's Laboratories dropped half-a-per cent after the US investment service provider MSCI on Monday added IOC and Rural Electrification to its Global Standard Index, while excluding Divi's Laboratories from its regional index.
Shares of IOC climbed 2.03 per cent to hit a high of Rs 450.65 on BSE. REC too rose 1.59 per cent to 222.45 in morning trade, before reversing gains. At 10.30 am, the scrip was trading 0.9 per cent lower at Rs 216.95.
Divi’s Labs was almost flat at 624. The changes were made to the MSCI India index.
Meanwhile, MSCI has also added 15 companies to its MSCI Global Small Cap Indexes, including Syngene International and Indiabulls Ventures. These stocks gained 2-4 per cent. Besides, eleven companies have been removed from MSCI Global Small Cap Index, including Astrazeneca Pharma and Sun TV Network. These stocks fell up to 2 per cent.
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Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday’s intraday trade. A combined 3.07 million shares of the company changed hands on the BSE. In comparison the S&B BSE Sensex fell by 0.31 per cent 74,109 levels.
The stock of GMR Airports reached a 52-week high of Rs 94.30 on February 20, 2024, while it hit a 52-week low at Rs 40 on May 29, 2023.
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The Supreme Court on Friday told the Delhi government that it would consider listing its plea challenging the central government's law establishing pre-eminence of the lieutenant governor over the elected dispensation in controlling services in the national capital.
A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra was urged by senior advocate Abhishek Singhvi, appearing for the AAP government, that the whole administration has come to a standstill and the matter needed to be heard.
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Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
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Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
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Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
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