Indian stocks snapped three-day rally to trade lower on Monday, i.e. August 8. At 10:30 am, the S&P BSE Sensex was down 114 points, or 0.3%, to 37,527.40, while the Nifty 50 index fell 33 points, or 0.3%, to 11,072.45. HUL, IDBI Bank, Yes Bank, Tata Steel, DHFL and Dilip Buildcon are among the key stocks in news today:
HUL: Hindustan Unilever Ltd (HUL) shares drop over 2% after the company told CNBC-TV18 that it has taken price reductions in range of 4-6% in the Lux and Lifebuoy portfolios in order to beat demand slowdown and pass on benefits to consumers.
IDBI Bank: IDBI Bank Ltd shares plunge over 10% after rating Agency S&P placed the bank on credit watch negative due to capital breach.
Yes Bank: Yes Bank Ltd shares decline 3.7% as the bank board will meet later in the day to consider and approve raising of funds by way of issuance of equity shares.
Tata Steel: Tata Steel Ltd shares fall 3% as the company is exploring the possibility of entering the merchant mining space and bidding for mines when they are put up for auction.
DHFL: Dewan Housing Finance Corp. Ltd (DHFL) shares are trading down nearly 5% ahead of the board’s 30 August meeting to consider issuing shares after debt conversion.
DB Realty: DB Realty Ltd shares slip 4.5% as the promoter created a pledge on 4 million shares in favour of Anand Rathi Global Finance.
Talwalkars Better Value Fitness: Talwalkars Better Value Fitness shares are down 5% as the company has received resignation letter from statutory auditors, MK Dandeker and Co., as they did not receive satisfactory responses on their queries regarding governance and management during the audit of the company's accounts for FY19.
Dilip Buildcon: Dilip Buildcon Ltd shares jump 2.8% as the company received appointed date (27 August) for EPC projects in Maharashtra from the National Highways Authority of India.
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