Market Buzz Today: MNC shares at record highs; NCC down 1.86%, Godrej Properties up 8.50%


Market benchmarks were trading with minor gains at 1:27 pm today. Gains were capped due to weak cues from other Asian stock markets. S&P BSE Sensex was up by 48.00 points, or 0.12%, at 39,783.53. Nifty 50 was trading up by 19.50 points, or 0.17%, at 11,681.35. Similarly, Bank Nifty was up by 78.10 points, or 0.26%, at 29,899.00. Here is the list of some stocks:

MNC shares: Nestle up 6.29%, hit a new high. HUL up 4.87%, nears record high. Government has abolished the Dividend Distribution Tax (DDT) from company level and will now be taxed in the hands of recipients.

Ashok Leyland: Down 0.19%. Reported January sales numbers which were below the expectations. Share recovers from lower levels. Sold 11,850 units in January 2020, down 40% compared to 19,741 units sold in the same month last year.

NCC: Down 1.86%. Received three new orders totalling to Rs 530 crore in January. These orders were received from the Central/State Government agencies.

HCL Tech: Down 0.99%. Announced the establishment of its global delivery centre in Colombo. Agreement with the Board of Investment (BOI) of Sri Lanka.

Coal India: Up 2.71%. Reported a 10.3% increase in production at 63.11 mt against 57.21 mt (YoY). January coal off-take grew 6.9% at 56 mt against 52.44 mt (YoY).

Shilpa Medicare: Up 4.15%. Received US Food and Drug Administration (USFDA) approval for Pirfenidone tablets.

Godrej Properties: Up 8.50%. Consolidated revenue up 48.9% YoY at Rs 275.5 crore.

L&T: Up 0.36%. JV sets up missile integration facility in Tamil Nadu.

ITC: Down 3.74%. Hits fresh 52-wk low; brokerages say the increase in NCCD a big blow. FM proposed to increase the National Calamity Contingency Duty (NCCD) on cigarettes, tobacco, and tobacco extracts. The government proposed to increase excise duty on tobacco in the Union Budget.

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Info Edge: Up 7.85%. IE Venture Fund I to invest about Rs 25.2 Cr in Qyuki Digital Media Private Limited.





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