Indian stock markets were trading weak on Tuesday after the International Monetary Fund (IMF) cut its growth estimate for the Indian economy to 4.8% for 2019-20.
At 10:49 am, the benchmark S&P BSE Sensex fell 153.10 points, or 0.37%, to 41,372.55, while the Nifty 50 index was down 48.65 points, or 0.4%, to 12,175.90. Zee Entertainment, Bharti Airtel, SREI Infra, NMDC, IDBI Bank, Just Dial and NBCC were among the key stocks in news today.
Zee Entertainment: Zee Entertainment Enterprises Ltd shares gained nearly 4% ahead of the Q3 earnings announcement later in the day. Other major companies to announce results today include ICICI Prudential, HDFC Asset Management Company, Havells India, Tejas Networks and IndiaMART InterMESH.
Bharti Airtel: Bharti Airtel Ltd shares slipped 0.7% after the company announced partnership with Google Cloud to serve small and medium businesses with digital solutions.
SREI Infra: SREI Infrastructure Finance Ltd shares advanced 9.6% on news that the board will consider raising up to Rs 3,000 crore on 14 February.
NMDC: NMDC Ltd shares fell 2.2% after the company announced a hike of up to Rs 400 per tonne in the prices of lump ore and fines, marking the second increase in rates within a month.
IDBI Bank: IDBI Bank Ltd shares were up 1.4% after the bank sold 17.9 lakh shares, or 0.36% stake, of the National Stock Exchange.
Just Dial: Just Dial Ltd shares dropped 3.4% after the company posted a tepid 5.8% increase in consolidated profit at Rs 60.68 crore for the third quarter ended December.
NBCC: NBCC (India) Ltd shares rose 2% on news that the company will provide consultancy for a project worth Rs 720 crore to Central Coalfield.
Bank of Maharashtra: Bank of Maharashtra Ltd shares declined 2.8% after the bank reported a net profit of Rs 135 crore in the December quarter against a net loss of Rs 3,764 crore in the year-ago period.
South Indian Bank: South Indian Bank Ltd shares rose 3.2% after the lender said it is planning to raise Rs 500 crore from bonds to fund business expansion.
ICICI Securities: ICICI Securities Ltd shares dropped 2% after the company reported a 36% rise in consolidated profit to Rs 137 crore for the December quarter.
Indian Overseas Bank: Indian Overseas Bank shares jumped 3% as the board of the lender will meet today to consider and approve the preferential issue of shares.
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