Stocks in news: YES Bank, DMart, Kotak Bank, Zomato, Hindustan Zinc
Indian markets corrected impacting shares of YES Bank, DMart, and Kotak Bank. Despite this, Zomato and Hindustan Zinc were affected, with DMart reporting increased revenue. Additionally, HDFC Bank's weight in the index may increase, as YES Bank reported growth in loans. Force Motors sales declined, KEC International secured new orders, and IEX saw an increase in electricity volume.
Indian markets opened at record highs but experienced some correction due to a lack of sustained buying on Tuesday. In today's trade, shares of , , , , due to various developments.DMart
, which operates DMart stores, reported a standalone revenue of Rs 13,712 crore for the quarter ended June 30, 2024 which was up from Rs 11,584 crore reported by the company in the year ago period.
HDFC Bank's weight in the MSCI index could go up to 7.2-7.5% in the August 2024 review from 3.8% now as the foreign institutional holding (FII) has come down below 55%, according to the shareholding data available on BSE.
YES Bank
Leading private lender YES Bank reported 15% year-on-year growth in its loans and advances for the first quarter ended June 2024.
Kotak Bank
Kotak Bank clarified that transactions in question were executed by the fund on the advice of its investor, Kingdon.
Force Motors total sales were down 3% at 2.553 units in the June month. Total domestic sales were up 13% to 2,465 units.
RVNL emerged as the lowest bidder (L1) for a central railway project worth Rs 132.59 crore.
Waaree Energies
Waaree Energies received an order to supply 900 MW of modules for Serentica Renewables in Rajasthan.
KEC International received new orders worth Rs 1,017 crore in Transmission and Distribution (T&D) and renewables businesses.
Hindustan Zinc
Hindustan Zinc reported a mined metal production of 263 kt, showing a 2% rise year-on-year. Saleable metal production stood at 262 kilo tonnes, up 1% year-on-year.
IEX
IEX reported total electricity volume at 10,185 MU in June, which is an increase of 25% year-on-year.
Zomato
Zomato arm Zomato Financial Services has withdrawn applications submitted to the RBI for undertaking NBFC business.
Source: Stocks-Markets-Economic Times
