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<ul><li>The stock of ICICI Bank jumped by 4% in early trade, due to strong quarterly earnings.</li><li>The bank not only posted strong growth in profits but also managed to reduce the amount of bad loans.</li><li>Global broking firm CLSA called the numbers as a sign of turnaround in the bank that has been hamstrung in recent years by rising bad loans and allegations of a financial scandal.</li></ul> The stock of ICICI Bank jumped by 4% in early trade, worth over ₹10,600 crore ($1.5 billion), on the first trading day, after it announced better-than-expected earnings. The bank not only posted strong growth in profits but also managed to reduce the amount of bad loans. Global broking firm CLSA called the numbers as a sign of turnaround in the bank that has been hamstrung in recent years by rising bad loans and allegations of a financial scandal. ICICI Bank posted a consolidated net profit of ₹2,513 crore for the quarter ending June 2019, which is a massive increase on the stressed quarter it experienced last year where it posted a mere ₹4.9 crore in profit. It is also fair improvement on the ₹1,170 crore profit posted three months ago. Signs of recovery But that is not the only thing which could be driving the stock which was trading at ₹432.8 at 11 am, on Monday (July 29). The country’s largest private bank is showing strong signs of recovery. This quarter its net interest income went up by 27% to 7,737 crore from last year. More importantly, the bank has made lower provisions which are made to cover for bad loans, at ₹3,496 crore as compared to ₹5,971 crore last year. “ICICI is exiting the corporate non-performing loans cycle, reflected in the 31% year on year fall in slippage and some upgrades below-rated loans to the steel industry). Moreover, its rise in better-rated clients and low exposure to new stressed corporates will insulate from risks,” said a report by CLSA. Improved loan book All of its top 20 loans are rated A- or better, according to the brokerage which gave the stock a ‘Buy’ rating, as it see 2019-20 as the year of turnaround. The brokerage predicts that its shareholders will be able to make as much as 15-16% returns from the stock, as the company chugs on its path to recovery. “As structural changes become more entrenched at the bank , ICICI Bank’s reported financials will improve and stabilise. Continuous stability and improvement in core parameters underpin our thesis of its trajectory towards normalized earnings,” said a report by HDFC Bank. ICICI has been emerging from last year’s revelation of bad loans weighing on its books year. Adding fuel to fire is a scandal involving its long-time CEO Chanda Kochhar , who allegedly gave loans to Videocon Group <a href="https://www.businessinsider.in/its-the-end-of-the-road-for-chanda-kochhar/articleshow/66082441.cms">in exchange for favours</a>. An Enforcement Directorate probe is still underway in the case. Kochhar was later ousted and asked to pay back all her hefty bonuses as well.

ICICI Bank shares gain over a billion dollars in value after signs of turnaround

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <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 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 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;">IndusInd 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;">Hero MotoCorp </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;">Housing Development Finance Corp </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;">Bajaj Auto </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;">SBI </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;">M&amp;M </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;">Eicher Motors </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;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <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 losers on Nifty50 </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;">Growth % </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;">Bajaj Auto </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;">-1.26% </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;">Eicher 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;">-1.13% </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;">Hero MotoCorp </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;">-1.13% </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 Suzuki </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;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li>The 30-share BSE index was trading 0.55% higher, while the Nifty50 rose 60.30 points.</li><li>These were 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 index Sensex jumped over 200 points in early trade on Tuesday tracking cues from global markets and sustained foreign fund inflow. The 30-share BSE index was trading 0.55% higher, while the Nifty50 rose 60.30 points. These were 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;">Cipla </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;">Tech Mahindra </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;">Sun Pharma </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;">HCL Tech </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;">Wipro </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;">Grasim </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;">Eicher Motors </td></tr></tbody></table>*as of September 15, 9:50 am Strides Pharma shares gain 3% The drug major Strides Pharma Science said it would invest ₹135 crore over the next two years to acquire around 54% stake in SteriScience Pharma Pvt Ltd. This will make SteriScience the company’s dedicated arm for the global sterile injectables business, Strides Pharma Science said in a filing to the BSE. Future Retail shares dip 2% in early trading hours The shares of Future Retail lost nearly 2% a day after it reported a net loss of ₹242.2 crore for the quarter ended June 30. The company’s overall revenue was down 88.6% to ₹ 163.2 crore compared to the same period last year. Ugar Sugar Works, Balrampur Chini, Dhampur Sugar, Bajaj Hindusthan Sugar and other sugar stocks rally Ugar Sugar Works, Balrampur Chini, Dhampur Sugar, Bajaj Hindusthan Sugar and other sugar stocks gained after subsidy rules on sugar export were eased. The sugar-making companies will now get 180 days to claim the subsidy instead of 90 days. ICICI Bank shares advance 2% The shares of ICICI Bank advanced 2% after the company told investors that the RBI had exempted it from provisions of the Banking Regulation Act 1949 relating to its investments in its insurance companies. A government notification exempts ICICI Bank from cutting stake to 30% in ICICI Lombard General Insurance and ICICI Prudential Life Insurance, for a period of three years. Adani Green crosses ₹1 trillion market capitalisation Adani Green shares were locked in a 5% upper circuit after touching an all time high of ₹670.65 on the BSE. With this Adani Green also became the first Adani Group subsidiary to cross ₹1 trillion market capitalisation. Infosys shares advanced 5% The shares of tech giant Infosys advanced 5%, adding to gains from yesterday. On Monday, the company said it would acquire Czech Republic-based GuideVision for up to €30 million ( ₹260.4 crore). SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-gains-200-points-nifty-tests-11500-amid-positive-global-cues/articleshow/78118729.cms" data-type="tilCustomLink">Sensex gains 200 points; Nifty tests 11,500 amid positive global cues</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-pvr-central-bank-icici-bank-spicejet-indiabulls-housing-finance-and-more/articleshow/78117441.cms" data-type="tilCustomLink">Top stocks to watch— Future Retail, PVR, Central Bank, ICICI Bank, SpiceJet, Indiabulls Housing Finance and more</a>

Top stock movers — Future Retail, Infosys, Adani Green, TCS, Tech Mahindra, Strides Pharma, Bajaj Hindusthan Sugar, ICICI Bank, Cipla and more

<ul><li>Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am.</li><li>These were 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 index Sensex jumped over 250 points in early trade on Thursday led by gains in index majors Reliance Industries, ICICI Bank and amid positive cues from global markets. Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am. These were 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;">IndusInd 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;">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;">Infratel </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;">SBI India </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;">Bajaj Auto </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;">Bajaj Finance </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;">Zee Entertainment </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;">Coal India </td></tr></tbody></table>*as of September 10, 9:30 am These are the top stocks that are buzzing in trade today: Bank of Baroda shares gain 3% PSU Bank stocks are rallying in trade today. Bank of Baroda is up 3%, along with Canara Bank gaining 2% and Bank of India 4%. RIL hits record high The shares of Mukesh Ambani owned Reliance Industries were trading 3% higher during the early trading hours on September 10. The shares had hit a record high mark by topping ₹2,200 a piece for the first time. <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">Reports </a>also indicate that after Silver Lake, investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund could be next in line to pick stakes in Reliance Retail Limited. Future Retail hits 5% upper circuit The shares of Future Retail were locked in a 5% upper circuit after the company lost nearly 40% of the stock value in the last one week, since the acquisition by Reliance Retail. The 5% jump came after <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">reports </a>indicated a potential investment for RIL retail arm Reliance Retail from investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund. Bharat Dynamics snaps two days of losses Bharat Dynamics snapped two-day loss and turned positive, gaining over 2% after the Indian government said it mobilised ₹776 crore by divesting nearly 13% in the company. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. Indiabulls Housing Finance opened 3% higher The shares of Indiabulls Housing Finance opened 3% higher after the company launched its qualified institutional placement (QIP) on Wednesday. Indiabulls Housing is looking to raise ₹1,000 crore and has set the floor price for the QIP at ₹206.70 per equity share. Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain ahead of PM Matsya Sampada Yojana. PM Narendra Modi will digitally launch the scheme today. The scheme will be aimed at the sustainable development of the fisheries sector in the country with an estimated investment of <a href="https://www.narendramodi.in/prime-minister-narendra-modi-to-launch-pradhan-mantri-matsya-sampada-yojana-on-10th-september-551321">₹20,050 crores for its implementation</a> during a period of 5 years. ICICI Bank, HDFC Bank IndusInd Bank and SBI trade in green The shares of Banking giants ICICI Bank, HDFC Bank, IndusInd Bank and SBI were trading in green today (September 10). The shares of ICICI Bank and HDFC Bank were up 1%, whereas SBI gained 2%. The Supreme Court of India is slated to hear petitions seeking a waiver of interest on loans under moratorium today. Tata Motors shares gain 3% The shares of Tata Motors gained 3% after the company emerged as a strong number third passenger vehicle (PV) brand by <a href="https://www.thehindubusinessline.com/companies/passenger-vehicles-tata-motors-emerges-as-no-3-helped-by-new-products-campaigns/article32562617.ece">sales after Maruti and Hyundai</a>. HUL trades in red after DCGI notice The shares of FMCG giant Hindustan Unilever Limited were trading nearly a percent lower after Central Drugs Standard Control Organisation (CDSCO) served a show-cause notice to the company over an advertisement of its Lifebuoy brand of hand sanitiser. In its advertisement, HUL claimed that the Lifebuoy immunity-boosting hand sanitiser improves immunity and helps fight coronavirus. SEE ALSO: <a href="https://www.businessinsider.in/business/news/yatra-failed-merger-with-ebix-dents-the-companys-earnings-in-an-already-troubled-quarter/articleshow/78031342.cms" data-type="tilCustomLink">Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms" data-type="tilCustomLink">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a>

Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

<ul><li>Indian stock market indices opened in green on Monday.</li><li>Sensex was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65</li><li>These are the top stocks that are buzzing on D-street 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, Sensex jumped over 200 points in early trade on Monday, led by gains in financial stocks amid firm cues from global markets. The BSE index was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65. Kotak Bank was the top gainer in the Sensex pack, rising around 4%, followed by Asian Paints, HDFC duo, Tata Steel, IndusInd Bank, ICICI Bank and SBI. On the other hand, HCL Tech, Tech Mahindra, PowerGrid, Titan, Infosys and TCS were among the laggards. Eicher Motors gains 8% on the stock split date Eicher Motors gained over 8% as its stock split comes into effect from today. The board earlier approved a stock split of existing one equity share of the face value of ₹10 per share into ten equity shares of the face value of ₹1 each. ICICI Lombard up over 1% ICICI Lombard General Insurance gained nearly a percent during early trade hours on Monday after the company said it would acquire Bharti AXA General Insurance operations in a share swap deal. The shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers. Minda Industries down nearly 3% Minda Industries shares slid nearly 3% after the company said it incurred a loss of ₹118.3 crore in the first quarter ended June 3. The revenue was down sharply from ₹1,439.7 crore to ₹417.1 crore in Q1. Balaji Telefilms opens 4% higher Balaji Telefilms shares gained nearly 4% after the government announced standard operating procedures (SOPs) for resuming shooting of films and TV programmes. Future Retail down nearly 4% The shares of Kishore Biyani-led Future Retail were down nearly 4% as the company faces a debt repayment deadline after missing an interest payment of $14 million in July. The 30-day grace period also ended on August 22. Reliance Industries up over 1% RIL gained nearly a percent after the company concluded amalgamation and merger amongst its wholly-owned subsidiaries Reliance Holdings USA into Reliance Energy Generation and Distribution. Merger entity Reliance Energy and Distribution has further merged into RIL. Union Bank gains nearly 3% Union Bank shares were up nearly 3% after the bank reported a 48.3% increase in net profit for the first quarter ended June 30. The bank’s total income grew by 101.2% YoY to ₹19,891.26 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-on-monday-indiabulls-housing-finance-future-enterprises-ril-tata-power-dixon-tech-rossari-biotech/articleshow/77712262.cms" data-type="tilCustomLink">Top stocks to watch on Monday— Indiabulls Housing Finance, Future Enterprises, RIL, Tata Power, Dixon Tech, Rossari Biotech and more</a> <a href="https://www.businessinsider.in/policy/economy/news/tribute-to-arun-jaitley-from-finance-minister-nirmala-sitharaman-ahead-of-gst-council-meeting/articleshow/77713182.cms" data-type="tilCustomLink">Finance Minister Nirmala Sitharaman’s tribute to the late Arun Jaitley is also coming ahead of a tough GST Council meeting where states will ask for money</a>

Top stock movers on Dalal Street on Monday— Eicher Motors, ICICI Lombard, Future Retail, RIL, TCS, and more

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street 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 Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

Major indices failed to capitalise on Thursday's strong start, post the passage of the GST Bill in the Rajya Sabha, as traders pressed sales on front line shares and investors refused to park fresh funds into equities trading near 16-month highs. 
 
Sentiment was supposed to take a major fillip after last night's overwhelming clearance of the amendment allowing the introduction of the Goods and Services Tax in India's business lexicon. The bitterly debated legislation, in works for over a decade, will result in a unified market across the country. However, the market remained as a sell on rallies. 
 
The Nifty rose 3 points at 8,547 in the first half hour of trade, retreating from an opening high of 8,600. Bharti Infratel, Lupin, Bharti Airtel, IndusInd Bank and ICICI Bank dropped between 1-1.8 percent. They were among 24 shares that dipped on the Nifty. Tata Motors, Sun Pharma, ONGC and Power Grid rose 1.1-2.8 percent and were among 27 stocks that gained ground on the index. 
 
Maruti, Tata Motors, and Bajaj Finance were the top three traded stocks by value. ICICI Bank, Jindal Steel &amp; Power, Ashok Leyland and GATI figured on the list of most active securities on the NSE. 
 
The Nifty 100, 200 and 500 indices slipped marginally in trade, down 0.1 percent each. The mood was mostly weak in the sectoral segment will all four banking benchmarks trading in the red. Mild profit booking continued in the FMCG, Realty and the Media sectors as well while modest upticks were seen on pharma stocks, metal shares and auto companies. 
 
The Sensex fell 39 points to 27,658 points on the Bombay Stock Exchange with Maruti, Tata Motors and ICICI Bank being the top traded shares on the index. Sun Pharma, ONGC and NTPC were the top gainers along with Bajaj Auto and Maruti. Stocks that slipped in trade were Cipla, HDFC, Asian Paints and State Bank. 
 
The trend was mostly positive in the wider market with 812 shares rising compared with 588 stocks that fell. The mood was bullish in the derivatives market where 110 futures gained ground versus 61 that dropped lower. 
 
Pricol, Bata India, Kewal Kiran clothing and Welspun India were present on the list of volume buzzers. 
 
Blue Star, Asian Paints, Yes Bank and Dhampur Sugar Mills hit fresh highs in the first half hour of trade on the National Stock Exchange.

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ICICI Bank shares gain over a billion dollars in value after signs of turnaround

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Top stock movers — Future Retail, Infosys, Adani Green, TCS, Tech Mahindra, Strides Pharma, Bajaj Hindusthan Sugar, ICICI Bank, Cipla and more

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Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

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Top stock movers on Dalal Street on Monday— Eicher Motors, ICICI Lombard, Future Retail, RIL, TCS, and more

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Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

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GST fails to bring cheer to the market

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