Domestic benchmark indices closed the day with nearly 1 percent gains on Tuesday. Nifty50 ended at 17562 while Sensex closed at 59005.27. Gains were largely driven by financial services, information technology and fast-moving consumer goods stocks.
Oil Explorers | Oil and Natural Gas Corporation and Oil India jumped 5 and 7 percent respectively, following the near 1 percent rise in brent crude oil prices. Higher crude oil prices would mean better realisation and profitability for these companies. They were among the top gainers on Nifty200.
NDTV | The scrip rallied another 10 percent today on rumours that Adani Group is looking to acquire a Delhi-based media house, which many speculate to be NDTV. However, NDTV's denial did not have any impact on the stock.
IDBI Bank | Shares of the lender closed 6 percent higher after reports said that four entities have expressed early interest in purchasing a controlling stake in IDBI Bank. These entities include Fairfax Financial Holdings, The Blackstone Group, Avenue Capital Group and Incred-KKR, as per a report.
PVR | The stock closed 6 percent higher at Rs 1,510.10. Kotak Institutional Equities has raised its target price on the stock to Rs 1,700 from Rs 1,550. The brokerage said PVR is trading at a 14 percent discount to pre-covid valuations while several consumption stocks have re-rated by more than 30 percent which implies there is room for some re-rating as operating metrics recover. PVR was among top Nifty 500 gainers.
Tata Motors | The company will hike commercial vehicles prices with effect from October 1. The automaker's shares recouped their intraday losses after the announcement and ended 1 percent higher at Rs 301.85.
HCL Technologies | The company got a digital transformation order from MKS Instruments Inc for five years. Further, HCL Tech has also entered a multi-year application services transformation partnership with Lendico. These developments drove the company's scrip to close nearly 2 percent higher at Rs 1,299.