Stocks In News: Yes Bank, Indiabulls Housing, Indraprastha Gas, Raymond, DLF2 min read . Updated: 08 Nov 2019, 11:32 AM IST
- Shares of most top IT companies are down after the US announced hiking of H1-B visa fee by $10
- Indraprastha Gas shares surged over 7% after the company reported better-than-expected earnings
Here is a list of top stocks that are buzzing in early trade on Friday:
Yes Bank: Despite Moody’s downgrade, the stock price went up 2% on BSE and NSE. Moody’s Investor Service on Wednesday placed the private lender’s foreign currency issuer rating of Ba3 under review downgrade following its weak performance in the September quarter, leading to concerns over the bank’s overall financial position and uncertainty around regulatory approvals for its plan to raise $1.2 billion in equity capital.
IT stocks: Shares of most top IT companies are down after the US announced hiking of H1-B visa fee by $10. H1-B is the most sought after visa that Indian companies use to deploy their Indian staff on overseas projects. It comprises a significant item of their overall costs. TCS was down by over 1%, Infosys 0.5% and Wipro 0.2%. HCL Technologies was up 0.4%.
Raymond: Shares surged over 9% on BSE in the early deals. The textile major is demerging its core lifestyle business into a separate listed entity as part of its plan to simplify the group structure and create investor opportunities.
Indraprastha Gas: Shares surged over 7% after the company reported better-than-expected earnings. Indraprastha Gas reported standalone EBITDA and PAT of Rs393 crore and Rs381 crore in Q2FY20.
DLF: Shares gained over 5% on BSE during the early deals. DLF Ltd, India’s largest real estate firm, posted a 18.8% rise in net profit to ₹443.41 crore in the September quarter from a year earlier. The profit came on a 15.8% fall in revenue to ₹1,940.05 crore during the period.
Indiabulls Real Estate: The stock went up 5% on the BSE, a day after the government cleared proposal to infuse ₹25,000 crore in an alternative investment fund to revive stalled housing projects that could potentially benefit 4.58 lakh homebuyers.
MSCI rejig: Morgan Stanley Capital International (MSCI) announced a semi-annual rebalancing in its Global Standard Index on November 7. Eight companies have been added -- Colgate-Palmolive (India), Berger paints, DLF, HDFC AMC, ICICI Prudential Life, IGL Info Edge, SBI Life Insurance and Siemens India. Glenmark Pharmaceuticals, Indiabulls Housing Finance, Vodafone Idea, and Yes Bank will be knocked off from the list.
InterGlobe Aviation: The stock went up over 1% on the BSE. InterGlobe Aviation Ltd, on Thursday announced a code share agreement with Qatar Airways. The foreign airline further expressed its interest in buying a stake in InterGlobe Aviation Ltd-owned IndiGo.
DHFL: The stock price went nearly 5% up during the early deals. The Bombay High Court on Thursday restricted the promoters of the company—Kapil Wadhawan and Dheeraj Wadhawan—from travelling abroad in response to a plea filed by 63 Moons Technologies seeking to recover about Rs200 crore in dues. Jignesh Shah-led 63 Moons had moved the court on Monday to protect its investment in non-convertible debentures issued by DHFL.