Indian stocks were trading in the negative territory on Friday despite positive global markets. At 10:39 am, the benchmark S&P BSE Sensex fell 124.29 points, or 0.3%, to 41,502.35, while the Nifty was down 41.70 points, or 0.34%, to 12,240.50. SBI, IIFL Securities, ONGC and MTNL were among the key stocks in news today. Read on to know more:
SBI, Union Bank: State Bank of India (SBI) shares fell 1.2%, while those of Union Bank of India were flat on reports that the two lenders are looking to sell their non-performing loans totalling Rs 2,836 crore to banks, asset reconstruction companies and other financial institutions.
IIFL Securities: IIFL Securities Ltd shares gained 5% after billionaire investor Rakesh Jhunjhunwala’s RARE Enterprises bought 27.85 lakh shares of the company in a bulk deal on BSE.
ONGC: Oil and Natural Gas Corp. Ltd (ONGC) shares jumped over 4% after the company walked away with all the seven oil and gas blocks on offer in the latest bid round that saw just eight bids coming in.
MTNL: Mahanagar Telephone Nigam Ltd (MTNL) shares were locked in an upper circuit of 5% after the company started the process to monetise assets worth Rs 23,000 crore as it aims to turn profitable in the next fiscal year.
Hero MotoCorp: Hero MotoCorp Ltd shares inched up 0.8% after the country's largest two-wheeler maker reported a 6.4% decline in total sales at 424,845 units in December 2019.
TVS Motor: TVS Motor Co. Ltd shares dropped 2.7% after the company reported a 14.67% decline in total sales to 231,571 units in December 2019.
VIP Industries: VIP Industries Ltd shares jumped 3.2% after CRISIL upgraded and reaffirmed its credit rating for the bank loan facilities of the company.
Gujarat Narmada Valley Fertilizers and Chemicals: Gujarat Narmada Valley Fertilizers and Chemicals Ltd shares dropped 3% after the Department of Telecommunications slapped a Rs 15,019 crore demand notice on the company.
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