Tata Motors, PNB, Biocon, Maruti, Bajaj Auto Among Key Stocks in Focus Today
Tata Motors, PNB, Biocon, Maruti, Bajaj Auto Among Key Stocks in Focus Today
Tata Motors Ltd shares were up over 2% after falling over 5% in the previous session. Stocks of leading auto companies like Bajaj Auto Ltd and Maruti Suzuki India Ltd were trading lower by nearly 1.5%.

Stock markets were a bit volatile in early trade on Friday, swinging between positive and negative territories. At 10:16 am, the S&P BSE Sensex was trading lower by 87 points, or 0.2%, at 37,744, while the Nifty 50 index fell 19.50 points, or 0.17%, to 11,232.65. Tata Motors, Punjab National Bank, Bajaj Auto, Maruti Suzuki, Biocon, Bank of Baroda and Bajaj Finserv were among the key stocks in focus today:

Tata Motors: Tata Motors Ltd shares were up over 2% after falling over 5% in the previous session. The company’s consolidated loss nearly doubled to Rs 3,698 crore in the June quarter against a loss of Rs 1,902.37 crore a year ago.

Punjab National Bank: PNB shares rose 2.3% after the bank approved raising capital of up to Rs 5,000 crore through a qualified institutional placement, follow-on public offer or a rights issue.

Bajaj Auto, Maruti Suzuki: Stocks of leading auto companies like Bajaj Auto Ltd and Maruti Suzuki India Ltd were trading lower by nearly 1.5% each ahead of the announcement of their quarterly results today.

Biocon: Biocon Ltd shares gained over 5% after the company’s profit jumped 72.3% to Rs 206.3 crore in the June quarter versus Rs 119.7 crore a year ago, while revenue increased 30.4% to Rs 1,465.9 crore versus Rs 1,123.8 crore.

Bank of Baroda: Bank of Baroda Ltd shares were up over 4% after the lender’s profit jumped to Rs 710 crore in the June quarter against loss of Rs 49 crore a year ago.

Bajaj Finserv: Bajaj Finserv Ltd shares rose 2.5% after the company’s profit increased by 2.4% to Rs 845.3 crore in the June quarter versus Rs 825.8 crore a year ago, while net interest income (NII) jumped 43.3% to Rs 3,695 crore versus Rs 2,579 crore.

Tata Sponge Iron: Tata Sponge Iron Ltd shares jumped 5% after Tata Steel acquired 2.58 crore rights equity shares of the company at Rs 500 per share aggregating to Rs 1,292.2 crore, increase its stake in the firm from 54.5% to 75.91%. Tata Steel shares, meanwhile, were trading flat.

Bharat Bijlee: Bharat Bijlee Ltd shares jumped 3% after the company said profit fell 16.4% to Rs 10.7 crore in the June quarter versus Rs 12.8 crore a year ago, while revenue rose 14.2% to Rs 224.7 crore versus Rs 196.7 crore.

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