Stocks Roundup: Hero Motocorp, Retail Stocks & Kwality Dairy
Shares of twowheeler maker Hero Motocorp lost over 5% to end at Rs 1,735 after Japanese auto major Honda, its former joint venture partner, launched its much-awaited motorcycle Dream Yuga.
By ET Bureau | Updated:
Hero Motocorp
Shares of twowheeler maker Hero Motocorp lost over 5% to end at Rs 1,735 after Japanese auto major Honda, its former joint venture partner, launched its much-awaited motorcycle Dream Yuga. Investors fear the product’s aggressive pricing could intensify competition in this bike segment.
Retail Stocks
Shares of retailers shot up on news a notification by the government on allowing 100% foreign direct investment in single brand retail is expected soon. Provogue (India) and Store One Retail, which rose 9%, led gainers. Pantaloon Retails gained 6.6%. Koutons Retail, Shoppers Stop and Vishal Retail rose 6%, 5.8% and 4.9%, respectively.
Kwality Dairy
Kwality Dairy was locked at the 5% lower circuit for the second straight day on Friday after the company said promoter Sanjay Dhingra has pledged 28.57 lakhs of his shares with L&T Finance. In the last month or so, Dhingra has pledged a total of 75 lakh shares with the NBFC on four different occasions. As on September 30, 2011, promoters had pledged only 1.6% of their total 74.98% holding in the company. Kwality shares rallied more than 43% in eight straight days till Wednesday.
Shares of twowheeler maker Hero Motocorp lost over 5% to end at Rs 1,735 after Japanese auto major Honda, its former joint venture partner, launched its much-awaited motorcycle Dream Yuga. Investors fear the product’s aggressive pricing could intensify competition in this bike segment.
Retail Stocks
Shares of retailers shot up on news a notification by the government on allowing 100% foreign direct investment in single brand retail is expected soon. Provogue (India) and Store One Retail, which rose 9%, led gainers. Pantaloon Retails gained 6.6%. Koutons Retail, Shoppers Stop and Vishal Retail rose 6%, 5.8% and 4.9%, respectively.
Kwality Dairy
Kwality Dairy was locked at the 5% lower circuit for the second straight day on Friday after the company said promoter Sanjay Dhingra has pledged 28.57 lakhs of his shares with L&T Finance. In the last month or so, Dhingra has pledged a total of 75 lakh shares with the NBFC on four different occasions. As on September 30, 2011, promoters had pledged only 1.6% of their total 74.98% holding in the company. Kwality shares rallied more than 43% in eight straight days till Wednesday.
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