D-Street Newsmakers: Federal Bank, Bajaj Finance and HUL among stocks that hogged limelight today
Indian equities despite the negative news on the STCG tax front may result in negative impact in the medium term opine market experts.
Indian equities ended Tuesday's budget day session on a flattish note as the markets largely digested the announcements concerning capital gains tax. At the close, Sensex closed 0.01 per cent or 73.04 points lower at 80,429.04, while Nifty ended with a cut of 0.13 per cent or 32.7 points at 24,476.55, while the BSE 30-scrip index Sensex. Meanwhile, the high beta Bank Nifty index ended sharply lower below 52,000 levels, for the first time in nearly a month at 51,778.3, dropping nearly 1 per cent.
Here are the stocks that remained in focus in Tuesday's trade:
ITC
ITC: ITC shares ended over 5 per cent higher to Rs 492.05- nearing its 52-week high price as the Budget 2024 did not announce anything on tobacco taxes. Also, Jefferies upgraded the stock to a 'buy' with a target
Bajaj Finance
Shares of the NBFC major ended with a cut of over 2 per cent ahead of its quarterly earnings.
Hindustan Unilever
HUL shares ended higher by over 1 per cent at Rs 2,766.5 as the company was scheduled to release its June quarter earnings today.
Federal Bank
Shares of the lender after clinging all-time high levels in intraday trade ended higher by 3 per cent at Rs 198.
Titan
After the budget announced a reduction in customs duty on gold, shares of Titan ended nearly 7 per cent higher at Rs 3,468.15.
Sunteck Realty
Shares of the company ended over 3 per cent lower at Rs 583.5 as the centre removed the indexation benefit on LTCG gains tax.
Vedanta
Vedanta shares ended lower by over 3 per cent at Rs 434.95 as the company's board is set to meet on July 26 to mull second interim dividend for FY25.