Indian Stocks remained strong for the trading session on Tuesday. Major gainers in today's session were Mahindra & Mahindra, ONGC, Bajaj Auto and Hindalco.
Cement counters led by UltraTechCement, ACC, Ambuja Cements and Grasim were trading higher. Among major losers were BPCL, HCL Tech, NMDC and Hero Motocorp.
Crompton Greaves declined 4.5 percent in today's session as the company announced quarterly results. The 6.5 percent growth in year-on-year net profit was below street expectations.
The largest telecom operator in India, Bharti Airtel, has crossed 300 million customers landmark for all services including fixed line, mobile, DTH and DSL in the country. Bharti Airtel also operates in some select markets in Africa.
After humble start in 1995, Bharti Airtel reached 100 million consumers mark in 2009. The next 100 million came pretty quick in 2012. Bharti has become the fourth largest telecom services companies in the world in terms of consumer base.
Public sector major Bank of Baroda has surprised the markets with 17 percent increase in quarterly net profit. The bank registered net profit of Rs1,362 crore during the first quarter compared to Rs 1,167 crore during the same period last year.
Bank of Baroda stock was up by more than a percent. The net interest income grew by 15 percent at Rs 3,328 crore. The non-interest income of the bank declined by 17 percent to Rs 1,024 crore during the first quarter.
Indian markets drifted lower in the afternoon session. The markets opened positive on Tuesday with support from energy and FMCG stocks. The market breadth was positive in the afternoon with 1250 advances and nearly 1200 declines.
BSE Sensex was up by just 50 points at 2.30 pm and NSE Nifty was in the green at 6706. Among major gainers in today's trade were ITC, Reliance, ONGC, Tata Steel and ICICI Bank. Among losers were Tata Power, Power Grid, Ambuja Cements and Hindalco.