Indian shares ended lower on Friday dragged mainly by heavyweight banking stocks after the Reserve Bank of India (RBI) maintained the status quo on interest rates as expected. The repo rate was unchanged at 4 percent for the sixth consecutive time in the policy announcement.
The Sensex ended 132 points lower at 52,100 while the Nifty fell 20 points to settle at 15,670.
On the Nifty50 index, Tata Motors, Grasim, Bajaj Finserv, Coal India and ONGC were the top gainers while Nestle, Hindalco, SBI, HDFC Bank, Bank and Axis Bank led the losses.
Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up 0.7 percent and 0.4 percent, respectively.
Here are the key stocks that moved today:
Gujarat State Petronet: The share price of Gujarat State Petronet (GSPL) rallied 7.5 percent after the company announced its earnings for the fourth quarter of fiscal 2021. The company’s consolidated net profit during the quarter rose 8.82 percent to Rs 416.68 crore from Rs 382.89 crore. Consolidated revenue in Q4FY21 increased 19.3 percent to Rs 3,828.65 crore from Rs 3,207.41 crore, YoY. On a sequential basis, net sales revenues increased 14.64 percent. In Q4FY21, the total gas transmission volumes stood at 33.84 mmsmcd compared to 39.36 mmsmcd, QoQ.
Spandana Sphoorty: Spandana Sphoorty Financial share price jumped nearly 8 percent after Moneycontrol reported that Axis Bank was in talks to acquire the micro-financier. Axis Bank is in talks to acquire Spandana Sphoorty, which is also reportedly open to exploring a complete sale, sources told Moneycontrol. Both sides were interested in the deal, which had been in the works for a while, the sources said.
Power Mech Projects: Power Mech Projects' share price rose 9 percent after HDFC Mutual Fund bought 1.3 lakh equity shares of the company. Shares of Power Mech Projects surged after HDFC Mutual Fund bought a nearly 1 percent stake in the construction and engineering company via the open market. HDFC MF, on June 3, purchased 130,000 shares, representing 0.88 percent stake, in Power Mech Projects for Rs 8.22 crore. The mutual fund had bought these shares at a price of Rs 633 per share via block deals on the NSE, exchange data showed.
Hotel stocks: Shares of hotel stocks rallied up to 20 percent after the Reserve Bank of India (RBI) announced a separate liquidity window of Rs 15,000 crore, to be opened till March 31, 2022, for contact-intensive sectors. Royal Orchid Hotels, Taj GVK Hotels & Resorts, and EIH Associated Hotels surged 5-20 percent.
(Edited by: By Pranati Deva)