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New Delhi, Feb 5 () IT major Wipro on Wednesday moved out of the list of top-20 most valued companies by market capitalisation giving way to Avenue Supermarts, which runs the D-Mart supermarkets chain. At close of trade, the market capitalisation (m-cap) of Avenue Supermarts was at Rs 1,41,205.36 crore, which is Rs 2,777.03 crore more than that of Wipro's Rs 1,38,428.33 crore valuation on the BSE. Avenue Supermarts is now placed at the 20th rank in the list of top 100 companies by market cap, while Wipro has taken the 21st position. Shares of Avenue Supermarts jumped 4.35 per cent, while those of Wipro gained 0.85 per cent on the BSE. Avenue Supermarts had got listed on the bourses on March 21, 2017. Since its listing, shares of the company have zoomed 251 per cent. Reliance Industries Limited is the country's most valued firm with a m-cap of Rs 9,17,953.13 crore followed by TCS Rs 8,04,980.33 crore. The m-cap figures of companies change daily with stock price movement. SUM SHWSHW

Wipro moves out of top-20 most valued cos list by m-cap, Avenue Supermarts grabs 20th ranking

<keyword id="4390909" type="UNKNOWN" weightage="20" keywordseo="shares-of-avenue-supermarts">Shares of Avenue Supermarts</keyword> are breaking the ceiling and this is, obviously, making <keyword id="6505089" type="UNKNOWN" weightage="100" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> happy. 
 The shares of <keyword id="6410316" type="UNKNOWN" weightage="20" keywordseo="Avenue-Supermarts">Avenue Supermarts</keyword> had gained 114% on listing day in March and the stock soared over 12% in just two sessions till Friday noon to make Damani and his family richer by Rs 4,300 crore. 
 
In Friday's trade, the stock hit a high of Rs 714, which was 13.18% higher than Wednesday's closing price of Rs 631.60. 
 
Damani's family, including his wife and brother Gopikishan Shivkishan Damani, holds 82.5% stake in Avenue Supermarts. 
 
The Bloomberg Billionaire index shows Damani as the 20th wealthiest Indian, with $4.10 billion wealth as of Friday. He is among the top 500 world billionaires.

Radhakishan Damani made Rs 4,300 crore from only one stock in just two days

Promoter of Avenue Supermarts, <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> has contributed Rs 100 crore to the PM-CARES Fund for the fight against the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> pandemic. He also contributed Rs 55 crore to several state relief funds. Damani has made the contribution through his group company Bright Star Investments. "We are fully supportive of the swift actions taken by the central, state and local government bodies of India to protect the general public. Each of us also needs to do our best to protect our communities and fellow countrymen," a statement by Avenue Supermarts said. "In this regard, our promoter, Radhakishan Damani through his group company <keyword id="9008296" type="COMPANY" weightage="20" keywordseo="bright-star-investments-private">Bright Star Investments Private</keyword> Limited, has contributed Rs 100 crore towards the <keyword id="8972692" type="UNKNOWN" weightage="20" keywordseo="PM-CARES-fund">PM CARES Fund</keyword> and a further Rs 55 crore to various state relief funds," it said. Donations to states include, Rs 10 crore each to Maharashtra and Gujarat, Rs 5 crore each to Andhra Pradesh, Telangana, Karnataka, Rajasthan and Punjab and Rs 2.5 crore each to <keyword id="20154" type="LOCATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, Chhattisgarh, Madhya Pradesh and Uttar Pradesh. Damani's Avenue <keyword id="4225758" type="COMPANY" weightage="20" keywordseo="supermarts-ltd">Supermarts Ltd</keyword> owns and operates the one-stop supermarket chain DMart. Damani is also known for his investments in the Indian equity market. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Billionaire Radhakishan Damani contributes ₹100 cr to PM CARES Fund

<ul><li>The SGX Nifty was trading 0.64% higher at 7:51 am, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the Asian markets, the Indian equities are likely to open in green on Monday. The SGX Nifty was trading 0.64% higher at 7:51 am, indicating a positive start for Nifty50. The Hang Seng Index was trading at 1.24% higher at 7:45; even markets in Australia and Shanghai were trading in the green. These are the stocks to watch out for during the trading session on October 16: HDFC Bank India’s largest private sector lender, HDFC Bank, <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">reported an 18.4% year-on-year (y-o-y) </a>growth in profit at ₹7,513.11 crore for the quarter ended September 30. The bank’s net interest income (NII) grew by 16.7% to ₹15,774.4 crore in the quarter and other income, comprising fee and commission, grew 27.9% to reach ₹6,092 crore. The shares of HDFC Bank ended 2.92% higher on Friday. Avenue Supermarts Radhakishan Damani’s Avenue Supermarts retail chain D-Mart reported a 38.5% (Y-o-Y) decline in its consolidated profit for the second quarter. However, the profit grew by five-fold compared to the sequentially quarter amid easing of lockdown restrictions. The revenue during the quarter also fell 11.4% to ₹5,306.2 crore. The shares of Avenue Supermarts ended over 0.52% higher on Friday. Tata Communications Tata Communications posted an around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. The company’s consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter, the company said in a BSE filing. The shares of Tata Communications ended 5% higher on Friday. Jet Airways Cash-strapped Jet Airways on Saturday approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessmen Murari Lal Jalan to acquire the airline. The shares of Jet Airways ended 5% higher on Friday. RIL, Airtel and Vodafone-Idea In July, Mukesh Ambani led Reliance Jio added over 2.5 million active subscribers, while its rivals Airtel lost 0.4 million and Vodafone-Idea lost over 3.8 million active users, based on TRAI report. The shares of RIL ended 1.2% lower on Friday, whereas Airtel and Vodafone-Idea closed nearly a percent higher. Britannia Industries, HDFC Life Insurance Company, L&amp;T Technology Services and ACC Britannia Industries, HDFC Life Insurance Company, L&amp;T Technology Services, ACC and few other companies are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms" data-type="tilCustomLink">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others

<ul><li>The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened higher on Monday, as hopes of a US fiscal package and expectations of a COVID-19 vaccine by the end of this year kept investors optimistic globally. The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divis Lab </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr></tbody></table>*as of October 19, 09:50 am These are the top stocks in news today. Dewan Housing Finance Corporation (DHFL) leaps 10% The shares of DHFL were<a href="https://www.businessinsider.in/business/corporates/news/adani-group-piramal-among-4-bidders-for-dhfl-lenders-stare-at-over-60000-crore-write-off/articleshow/78740854.cms"> trading 10% after news reports surfaced</a> that Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-headquartered SC Lowy are the four entities that have placed bids for the first financial services player DHFL, which is undergoing an insolvency process. Jet Airways locked in 5% upper circuit The shares of cash strapped Jet Airways were locked in a 5% upper circuit in minutes after market opening as the company secured new owners. The airline-approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan to acquire the business. Tata Communications locked in 5% upper circuit The shares of Tata Communications were locked in 5% upper circuit after it reported around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. Its consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter. Avenue Supermarts gains over 3% Radhakishan Damani-led, D-Mart retail chain operator, Avenue Supermarts gained over 3% on Monday. The rally came after the saw its profit grow five-fold compared to the sequential quarter amid easing of lockdown restrictions. However, the profit growth was 38.5% down compared to the same period last year. HDFC Bank opens 2% higher The shares of India’s largest private sector lender, HDFC Bank opened 2% higher on Monday. The bank reported <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">an 18.4% year-on-year (y-o-y) </a>growth in profit at ₹7,513.11 crore for the quarter ended September 30. DLF up over 2% The shares of commercial real estate developer, DLF gained over 2% after its rental arm DCCDL has raised ₹2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans. SEE ALSO: <a href="https://www.businessinsider.in/international/news/20-charts-explain-why-indian-americans-are-more-likely-to-vote-for-joe-biden-in-2020-us-presidential-election/slidelist/78717893.cms" data-type="tilCustomLink">20 charts that explain why Indian Americans are more likely to vote for Joe Biden in the 2020 US Presidential Election</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-avenue-supermarts-jet-airways-ril-airtel-vodafone-idea-tata-communications-hdfc-bank-and-others/articleshow/78740639.cms" data-type="tilCustomLink">Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others</a> <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

<ul><li>The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a tepid opening for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a cautious opening for Nifty50. However, the US stocks closed higher on Thursday after Nancy Pelosi suggested that there has been progress and were ‘close’ to a stimulus deal. Dow Jones gained over 152 points, and the S&amp;P 500 ended 0.52% higher. These are the stocks to watch out for during the trading session on October 23: Tech Mahindra IT major Tech Mahindra’s US subsidiary will acquire 6.03% stake in US-based VitalTech Holdings, Inc for $3 million. The tentative date of closure of the transaction is October 26, it said in a regulatory filing. Tech Mahindra will also report its quarterly earnings today. The shares of Tech Mahindra ended 0.80% lower on Thursday. Cipla, Zydus Cadila, Dr Reddy Laboratories and other pharma companies The shares of Cipla, Zydus Cadila, Dr. Reddy Laboratories and other pharma companies will be in focus today. The US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. HDFC AMC HDFC Asset Management Company has appointed KPMG as the internal auditor with immediate effect after Gautam Chandra, HDFC AMC’s former internal audit head resigned. The company also reported a 8% decline in profit after tax at ₹338.06 crore for the quarter ended September 30. The shares of HDFC AMC ended 1% higher on Thursday. Biocon Kiran Mazumdar-Shaw led biopharmaceutical company, Biocon reported a 23.8% drop in its net profit to ₹200.40 crore. This is despite 11.33% growth in its total revenue to ₹1,744.80 crore. The shares of Biocon ended 2.3% higher on Thursday. Avenue Supermarts and Cochin Shipyard The founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in India’s largest shipbuilding and maintenance company, Cochin Shipyard for ₹394.14 per share. The shares of Avenue Supermarts and Cochin Shipyard ended 2% and 9% higher on Thursday, respectively. Bharti Infratel Telecom infrastructure firm Bharti Airtel on Thursday posted a 24% drop in consolidated net profit to ₹733 crore for the quarter ended September 30. The overall revenue grew by about 2% to ₹3,695 crore during the reported quarter, the company said. The shares of Bharti Infratel ended 2% higher on Thursday. JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank among others JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/tech/news/social-media-will-change-when-users-ask-for-their-cut-from-data-revenue/articleshow/78810738.cms" data-type="tilCustomLink">‘Where’s my cut?’ the question that can revolutionise social media</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-uses-jeff-bezos-secret-for-success-building-two-pizza-teams/articleshow/78810520.cms" data-type="tilCustomLink">EXCLUSIVE: Paytm uses Jeff Bezos' secret for success — building 'two pizza' teams</a>

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

<ul><li>The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a higher note on Friday, tracking gains in index majors HDFC Bank, ICICI Bank and TCS amid positive cues from the global markets. The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr></tbody></table>*as of October 23, 10:00 am These are the top stocks in news today. SBI Cards plunge over 10% The shares of SBI Cards opened nearly 10% lower after the company reported a 46% dip in its net profit to ₹206 crore for the second quarter ended September 30. Bad loans due to spike in loan defaults remained the concern with its gross non-performing assets (NPAs) rising to 4.3% compared to the same period last year. Bharti Infratel gains over 3% Bharti Infratel shares soared over 3% after the telecom infrastructure firm’s overall revenue grew by about 2% to ₹3,695 crore during the second quarter ended September 30. However, its consolidated net profit dropped 24% to ₹733 crore for the quarter. MphasiS up over 4% The shares of IT services company MphasiS gained over 4% after its gross revenue grew 12.9% YoY in the second quarter ended September 30. The company said its net profit grew 9.5% YoY to ₹299.2 crore. Biocon dips 1% post earnings The shares of Kiran Mazumdar-Shaw led biopharmaceutical company Biocon dipped over a percent after the company reported a 23.8% drop in its net profit to ₹200.40 crore. The profit plunge is despite the 11.33% growth in its total revenue to ₹1,744.80 crore. Zydus Cadila and Dr Reddy Laboratories up 1%, Cipla gains 2% The shares of Pharma major Cipla, Zydus Cadila and Dr Reddy Laboratories were trading in green during the early hours of market opening. The boost comes in after the US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. Avenue Supermarts gains 1%, Cochin Shipyard leaps 5% The shares of India’s largest shipbuilding and maintenance company, Cochin Shipyard gained over 5% after the founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in the company for ₹394.14 per share. Avenue Supermarts also gained nearly a percent post the announcement. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Top stock movers — Tata Motors, SBI Cards,  Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermarts became India’s 11th most valued company. </li><li>However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic.</li><li>The company had earlier said that 50% of its stores were not operational during the lockdown.</li></ul>DMart’s share price has climbed by 35.7% since the beginning of the year. However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic. Ac<a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-tanks-5-as-company-says-half-of-stores-non-operational/articleshow/75115970.cms">cording to Prabhudas Lilladher</a>, there will be an estimated 25% sales decline between Jan and March 2020 for DMart, and a 5% decline in the next three months ending June. The growth in profit after tax in March 2021 is likely to be just 12%, according to the report. <div type="image" title="DMART." msid="75883285" hostid="261"></div> The most valued retail stock in India had also pushed its owner <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> to become India’s second richest man. <div type="image" title="Radhakishan Damani" msid="75883263" hostid="261" caption="&amp;lt;p&amp;gt;Radhakishan Damani&amp;lt;/p&amp;gt;"></div> On Thursday (May 21), DMart’s parent company Avenue Supermarts became India’s 11th most valued company. Its market cap stood at ₹1,58,902.37 crore, moving ahead of giants like Maruti, Nestle, HCL Tech. DMart’s bullish growth DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. In the third quarter ending December 2019, DMart had posted a 33% jump in profits, as well as a 24.4% increase in revenue to ₹6,809 crore. If COVID-19 hadn't struck, according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-on-course-to-being-cash-surplus-how-it-spends-will-be-key/articleshow/73220765.cms">reports</a>, DMart would have ended FY20 with almost no debt. Covid19 strategy With the coronavirus pandemic, DMart was quick to implement multiple strategies to stay afloat. Being in the essentials category, DMart pushed its limitations and decided to stay open 24*7 since April 1. It began to deliver essentials at home by tying up with RWAs and taking in orders through WhatsApp. But that might not be enough. “However the sales from these channels are inconsequential,” said the company. The company also said that 50% of its stores were not operational during the lockdown. Its sales would also be impacted as the coronavirus pandemic kept people away from physically visiting stores while sales in its non-essentials category came to a standstill. See Also: <a href="https://www.businessinsider.in/business/news/reliance-strikes-5th-deal-sells-2-32-pc-in-jio-platforms-for-rs-11367-cr-to-kkr/articleshow/75881643.cms">Reliance strikes 5th deal, sells 2.32% in Jio Platforms for ₹11,367 cr to KKR</a> <a href="https://www.businessinsider.in/business/news/future-retail-promoter-kishore-biyani-net-worth-falls-sharply-as-debt-rises/articleshow/75861065.cms">Once India’s ‘retail king’, Future Retail promoter Kishore Biyani is straddling high debt, coronavirus and negative ratings⁠⁠— and nearly his entire stake is already pledged</a>

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Wipro moves out of top-20 most valued cos list by m-cap, Avenue Supermarts grabs 20th ranking

PTI

Radhakishan Damani made Rs 4,300 crore from only one stock in just two days

BI India Bureau

Billionaire Radhakishan Damani contributes ₹100 cr to PM CARES Fund

IANS

Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others

Navdeep Yadav

Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

Navdeep Yadav

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

Navdeep Yadav

Top stock movers — Tata Motors, SBI Cards, Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

Navdeep Yadav

DMart's quarterly sales may fall 25% but the shares are already up 35% ⁠— the retailer is now bigger than Maruti, Nestle and HCL Tech

Sanchita Dash

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