Money on the markets
A maturing market amid the mayhem
The company reported its quarterly numbers on Wednesday and said net profit nearly trebled, helped by cost cuts and strong sales.
Its shares, which ended as the top gainer in the BSE Auto index, touched an intra-day high of 942 rupees before closing at 928 rupees.
The stock has returned a tad over 5 percent this month, better than the 6.2 percent drop in the auto index.
All stocks in the index, except Marico, closed in the green, led by Dabur India which rose 5.8 percent and ITC which gained nearly 5 percent.
Essar Oil was the top loser in the index, closing down 4 percent. ONGC too came under pressure and slipped 2.4 percent.
The stocks declined 7.4 percent on the NSE.
Tata Motors was the top Sensex loser and also pulled the BSE Auto Index down 1.72 percent, making it the worst sectoral performer of the day.
Bharti shares closed down rupees 34.85 at 400.25 with volumes of over 6 million on the BSE, making it one of the most traded counters.
Dr. Reddy’s shares jumped over 10 percent, Orchid Chemicals gained over 9 percent, and Aurobindo Pharma rose over 8 percent.
On Tuesday, its shares jumped by over 12 percent to 1,577 rupees and closed at their lifetime high.
RIL shares have been on the rise for four consecutive trading sessions now, adding over 12 percent over the period.