Top 3 gainers & losers at Nifty 50 today

Top 3 gainers at Nifty 50 today were Hindustan Unilever (HUL), Jio Financial Services and JSW Steel.  HUL’s stock gained 3.55% today after its June quarter result came. The company’ s consolidated net profit in the quarter increased year-on-year by 5.97% to Rs 2,768 crore.

Jio Financial Services’ stock gained 2.72%. This, after the news that Mukesh Ambani family will increase their stake in the company. The promoter family will increase its stake from 47.12% to 54% by investing Rs 15,825 crore in the company’s convertible warrants.

JSW Steel’s stock gained 1.93% today. This after the Supreme Court overturned its earlier decision of cancelling the insolvency resolution plan of Bhushan Power and Steel Ltd and ordering its liquidation. The Court will hear the matter afresh on August 7^th.

Top 3 losers today

Top 3 losers at Nifty 50 today were Adani Enterprises, Tata Steel and Sun Pharma. Adani Enterprises lost 4.06% today. This after the company’s June quarter profit came down by 45%. Tata Steel’s stock lost 2.52%. This after news came that US was imposing 25% tariffs on Indian goods from tomorrow, 1^st August. This would have an adverse impact on the company’s exports to USA.

Sun Pharma’s stock lost 1.95% today, after its June quarter result came. The company’s profit in the June quarter fell by 20%, year-on-year.

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Source: NSE