D-Street Newsmakers: Cummins India, Edelweiss Financial Services and CG Power among stocks that made headlines today
Indian equities continued their southward journey on the monthly F&O expiry day as investors largely remained cautious ahead of the key GDP data due to be released tomorrow. At the close, Nifty index ended lower by 0.95 per cent or 216.05 points at 22,488.65.
Vinod Nair, Head of Research, Geojit Financial Services on the markets today said the benchmark index is taking cues from the US market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank’s interest rates cut policy.
Here are the stocks that made headlines today:
Edelweiss Financial Services:
After RBI took stern action against 2 of the Group’s entities, shares of the holding company ended weak by 12 per cent at Rs 68.3.
IDFC First Bank
Shares of the private lender ended 0.5 per cent higher at Rs 77.55 as the company’s board approved fundraising via preferential issue.
KNR Constructions
As the company’s Q4 profit rose 140% on-year, shares of the company ended over 8 per cent higher at Rs 302.55. Earlier in the day, the stock logged its fresh 52-week high.
Cummins India
Cummins India shares ended with a cut of over 6 per cent at Rs as Nomura sees 21 per cent potential downside in the stock. This is even as the company posted impressive Q4 performance.3,595.55.
CG Power and Industrial Solutions
After global brokerage retained its buy call on the stock and foresees an upside potential of around 35 per cent -given the target of Rs 850, shares of the company ended over 2 per cent higher at Rs 647.2.