Top stock movers — IDBI Bank, HCL Tech, Voltas, Amber Enterprises, Blue Star, Hero MotoCorp and others

• The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am.
• Here’s a list of the top losers and gainers in the Nifty pack.
• These are the top stocks that are buzzing in trade today.
• Check out the latest news and updates on Business Insider.

Indian stock market indices Sensex rebounded in opening trade on Friday, led by intense buying in banking and IT stocks.

The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am.

Here’s a list of the top losers and gainers in the Nifty pack.
*as of October 16, 10:00 am

These are the top stocks in news today.

IDBI Bank shares gain 10%

The shares of IDBI Bank were up 10% after news reports surfaced that the Life Insurance Corporation of India (LIC) which holds 51% stake in IDBI is keen to divest its stake.

HCL Tech cracks 5%

The shares of IT giant HCL cracked 5% during the early trading hours after its consolidated sales stood at ₹17842 crore down 4% from the previous quarter and down 8.61% from the year-ago quarter.

United Phosphorus down 6%

The shares of United Phosphorus cracked 6% after KPMG, Mauritius resigned as the auditor of UPL Corporation, effective October 8. However, UPL clarified that “the auditors viz. KPMG, Mauritius had in their letter to UPL Corporation Limited noted that there are no circumstances connected with its resignation which it considered should be brought to the notice of the members.”

Voltas, Symphony, Amber Enterprises and Blue Star trade in green

The shares of Voltas, Symphony, Amber Enterprises and Bluestar were trading in the green after the Indian government banned the import of air conditioners with refrigerants. This move aims to push domestic manufacturing of such goods under a self-reliant India programme.

Voltas and Blue Star shares were up 4%, Symphony was up over 1%, and Amber Enterprises gained over 8%.

Mindtree cracks 8% post-second-quarter results

The shares of Mindtree cracked 8% after opening in green as the second quarter revenue remained flat at ₹1,926 crore compared to the same period last year. However, there was 88% jump in its net profit to ₹253.7 crore

AstraZeneca Pharma India up 1%

The shares of AstraZeneca Pharma India gained over a percent after the drug major said it would launch its Acalabrutinib 100 mg capsules under the brand name ‘Calquence’ on October 21 — the drug is used for the treatment of various types of blood cancers.

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