Indian stocks were trading in the negative zone on Wednesday on weak Asian cues. At 10:14 am, the S&P BSE Sensex was down 171.72 points, or 0.4%, to 40,076.51, while the Nifty 50 index slipped 48 points, or 0.4%, to 11,869.15.
Titan, Tech Mahindra, Tata Steel, Bharti Airtel and J&K Bank were among the key stocks in news today. Read on to know more:
Titan: Titan Co. Ltd shares dived over 9% after its Q2 net profit inched up by a tepid 1.8% to Rs 320.2 crore compared with a year ago.
Tech Mahindra: Tech Mahindra Ltd shares gained 1.4% after net profit rose 17.2% to Rs 1,124 crore in the September quarter compared with the previous quarter.
Tata Steel: Tata Steel Ltd shares were trading down 1% ahead of the announcement of the earnings for the (Q2) second quarter ended September later in the day. Other major companies to announce Q2 results today include Lupin, Cipla, Canara Bank, Indiabulls Housing Finance, Fortis Healthcare, Godrej Consumer Products, Exide Industries, Corporation Bank among others.
Bharti Airtel: Bharti Airtel Ltd shares slipped 2% on reports that the government may not waive dues of the telecom operators under the Supreme Court verdict on the definition of adjusted gross revenue (AGR).
J&K Bank: Jammu and Kashmir Bank Ltd shares fell 1.4% after the lender applied to the Securities and Exchange Board of India (Sebi) for grant of extension for the quarterly results in the stipulated timeline of 45 days.
Gillette India: Gillette India Ltd shares dropped 3.5% after net profit fell 5.5% year-on-year to Rs 62 crore in the September quarter
Manappuram Finance: Manappuram Finance Ltd shares dropped 3.8% after a media report said Baring Private Equity Partners India is planning to exit its eight-year investment in the Kerala-based gold loan company.
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